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TMI Blog2020 (3) TMI 401X X X X Extracts X X X X X X X X Extracts X X X X ..... restricted to ₹ 61,17,317/-, the Principal Commissioner of Income Tax to dispose of the representation of the petitioner within a period not later than one week from the date of appearance of the petitioner as noticed above. All contentions of parties are kept open. It is made clear that if the Principal Commissioner of Income Tax does not decide the matter within a period of one week as stipulated, the attachment would automatically stand vacated. - WRIT PETITION No. 4952/2020 (T-IT) - - - Dated:- 4-3-2020 - THE HON'BLE MR.JUSTICE S. SUNIL DUTT YADAV For the Petitioner : Sri Raghuraman V, Adv For the Respondent : Sri. K. V. Aravind, Adv ORDER The petitioner has challenged the impugned notice issued under Se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Income Tax Act, 1961, as the said amount was already declared as income during the assessment year 2012-2013. Various other contentions have also been raised. 4. It is further contended that when the application for stay is taken up for consideration by the Assessing Officer, the Assessing Officer should pass an order after due application of mind and that subsequently after the application for stay is disposed off, the petitioner has an opportunity of approaching the Principal Commissioner of Income Tax in light of the Circular bearing No.1914, further amended on 25.01.2017, 29.02.2016 and 31.07.2017 and despite representation there is no consideration by the Principal Commissioner of Income Tax. 5. It is also contended that the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... been referred to in para-5 which may be taken note of. So also the manner of exercise of power of the Principal Commissioner of Income Tax is detailed in Flipkart's case (supra) at paras - 18 and 19, which needs to be kept in mind. This Court refrains from expressing any opinion on the merits of contentions raised but reiterates that the Principal Commissioner of Income Tax is to exercise power conferred upon him as per the circulars in a meaningful manner. 8. The petitioner to be present before the Principal Commissioner of Income Tax on 05.03.2020 at 11.30 a.m. and the request of petitioner as contained in the representation dated 07.02.2020 would be disposed of in light of the observations made above. 9. In light of the submiss ..... X X X X Extracts X X X X X X X X Extracts X X X X
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