2018 (3) TMI 1926 - HC - Income Tax

Stay of demand - attachment orders - HELD THAT - Service is waived, Mr. Tajender K. Joshi, learned counsel having accepted notice on behalf of the respondents. Let a complete set of paper book be supplied to him during the course of the day. Adjourned to 04.04.2018. The learned counsel appearing on behalf of the petitioner states that at least 15 per cent of the demand inclusive of penalty and interest stands deposited with the tax authorities, albeit on account of the auction of two of the petitioner s properties. It is necessary to consider the effect of the circulars dated 29.02.2016 and 31.07.2017. The petitioner s bank accounts and properties already stand attached. In these circumstances, till further orders, the impugned proceedings in so far as they relate to the arrest of the petitioner shall remain stayed.

Summary

The High Court of Punjab and Haryana stayed the arrest proceedings of the petitioner due to 15% of the demand being deposited with tax authorities from auction proceeds of two properties. The impugned proceedings related to the arrest of the petitioner are stayed until further orders. Adjourned to 04.04.2018.