9911796707
TMI Blog2019 (4) TMI 518X X X X Extracts X X X X X X X X Extracts X X X X ..... would undisputedly cause great difficulty to the petitioner in meeting his day to day expenses, to meet with special requirements for medical attention for himself and his aged mother. While, therefore, without harming the interest of the Revenue, we would like to give limited relief to the petitioner against such action of the Department. Refereeing to valuation report of the Government registered valuer showing the approximate value of these flats at ₹ 10.81 Crores and 6.34 Crores respectively. Going by this valuation, combined value of the flats would be in excess of ₹ 17 Crores. We have also required the petitioner to state that the said immovable properties are unencumbered. Thus while maintaining the attachment of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 006; 2. Residential Flat at 8-C, Somerset Palace, 61 D, Bhulabai Desai Marg, Mumbai 400 026. 2. This action the said Authority has taken pursuant to search conducted under Section 132 of the Act at the premises of the petitioner during which the department collected material to prima facie suggest that the petitioner has sizable interest income as well as dividend income despite which the petitioner filed no income tax return. The Department has material to suggest that the petitioner is a joint account holder in three bank accounts in Barclays Bank in England. The petitioner has not disclosed these bank accounts to the Income Tax Authorities. As per the information of the Department, currently a sum of ₹ 4.97 Crores (appr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ioner himself is aged about 65 years, needs funds for his day to day expenses as well as medical treatment. The petitioner s mother is aged about 94 years and she is a heart patient. Her medical treatment requires constant expenses. It is pointed out that the total balance attached in the bank accounts comes to approximately ₹ 3 Crores. 5. On the other hand, the Department strongly opposes any interference with the attachment orders. It was argued that the Authorities have exercised the discretionary powers after taking into account all relevant facts. The petitioner has sizable income, foreign investments despite which the petitioner had not filed any return of income, thereby withholding such information from the Department. Lear ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... etitioner for accessing his own funds in the bank accounts which would undisputedly cause great difficulty to the petitioner in meeting his day to day expenses, to meet with special requirements for medical attention for himself and his aged mother. While, therefore, without harming the interest of the Revenue, we would like to give limited relief to the petitioner against such action of the Department. While doing so, we must bear in mind that the approximate tax, interest and penalty liability which the Department has computed, firstly even the basis of maximum penalty which is impossible, secondly the same is in realm of possibilities. The petitioner has filed an additional affidavit dated 2.4.2019 pursuant to our order dated 28.3.201 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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