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2015 (8) TMI 51 - HC - Income TaxProvisional attachment orders passed under Section 281B - Held that:- A mere reading of the proviso clearly shows that the submission made by the learned counsel for the petitioners does not carry any merit. Indeed, the proviso says that the period of extension of provisional attachment shall not in any case exceed two years or sixty days after the date of order of assessment or reassessment, whichever is later. Since the provision of sixty days period after the order of assessment or reassessment whichever is later has been introduced by virtue of the amendment with effect from 1.10.2014, this Court is not able to find fault with the provisional attachment orders passed by the respondent-assessing officer. As per Instruction No.1914 dated 2.12.93, the stay application filed before the assessing officer should be disposed of within a period of two weeks from the date of filing of the petition by the tax payer. But it appears that the petitioners have filed the stay applications only before the appellate authority. Even the guideline B(iii) of the Instruction No.1914 also states that the decision in the matter of stay of demand should normally be taken by the assessing officer and his immediate superior, therefore, the stay applications filed by the petitioners deserve to be taken up for hearing and disposed of within a period of two weeks from the date of receipt of a copy of this order. In view of the above, this Court, taking into account that a sum of ₹ 1,33,86,909/- had been realized by the respondents during the pendency of the appeals along with the stay applications, hereby directs the appellate authority viz., the Commissioner of Income Tax (Appeals)-18, Chennai, the second respondent herein to take up the pending appeals for final hearing and dispose of the same on merits and in accordance with law within a period of three months from the date of receipt of a copy of this order. It is made clear that since the stay applications are also pending, the respondents need not resort to any coercive proceedings against the petitioners including the realization of the balance amount of ₹ 23,87,948/- till then. With the above direction, all the writ petitions are dismissed.
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