9911796707
TMI Blog2021 (11) TMI 929X X X X Extracts X X X X X X X X Extracts X X X X ..... of the first proviso to Section 254 (2A) of the Act. In view of the statement made by the revenue itself that not much money could be appropriated through attachment of bank accounts, attachment of the bank accounts may be withdrawn. Order:- Tribunal is directed to expeditiously hear the three appeals of the Revenue and corresponding Cross Objections of the petitioner, preferably within a period of six months from today.Petitioner shall deposit 20% of the tax dues following the order passed by the first appellate authority on 31.03.2018.On such deposit, attachment of the petitioner s bank accounts as well as the stock-in-trade shall stand withdrawn forthwith - W.P.No.2413 of 2020 - - - Dated:- 1-11-2021 - HONOURABLE SRI JUSTICE UJ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 8.2008. During the search and seizure action, incriminating materials relating to the petitioner were recovered. Thereafter, three assessment orders dated 31.12.2010 were passed in respect of the petitioner under Section 143(3) read with Section 153(c) of the Act for the assessment years 2007-08, 2008-09 and 2009-10 raising various demands. The assessments were made by the then Deputy Commissioner of Income Tax, Central Circle 1, Visakhapatnam. 6. Consequent thereto, Tax Recovery Certificates were drawn up by respondent No.5 for the three assessment years on 04.11.2013 for various amounts totaling ₹ 10,60,65,780.00. Since the assessed taxes were not paid by the petitioner despite notice of demand, immovable properties of the petiti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... not complied with the order dated 05.02.2020. 10. We have given due consideration to the submissions made by learned counsel for the parties. 11. Attachment of bank account as well as property of a person is a drastic measure. Of course, such provisions are provided in the statute to ensure recovery of the dues. Nonetheless, in the given facts and circumstances of the case, we are of the view that the appeals filed by the revenue and cross-objections filed by the petitioner should be heard expeditiously by the Tribunal. 12. Our attention has also been drawn to the provisions of Section 254(2A) of the Act, more particularly, to the first proviso thereto, as per which, the Tribunal can pass an order of stay subject to the condition ..... X X X X Extracts X X X X X X X X Extracts X X X X
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