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2018 (9) TMI 1867 - AT - Income TaxRecovery of disputed liability in respect of the assessee from the assessee’s debtor - stay of demand - HELD THAT:- The fact of the loan given to Mr.Darmendra Bafna being the issue in dispute, the Revenue is directed to recover the disputed liability in respect of the assessee from the assessee’s debtor as recognized by the Revenue being Mr.Darmendra Bafna whose address has been provided by the assessee. The attachments in respect of the assets of the assessees, which have been done by the Revenue, shall remain unaltered. The Bank account, if any, of the assessee which have been attached by the Revenue, shall stand lifted. It must be understood that when all the assets of the assessees have already been attached, obviously the assessee would be incapable of making any further payments as assessee would be unable to take loans by mortgaging the assets. However, the debtors of the assessee are still available and enforceable. Recovery of disputed tax against the assessees is stayed with liberty to the Revenue to proceed with the recovery of the disputed tax in respect of the assessees from the hands of the assessee’s debtors, Mr.Darmendra Bafna of M/s Surana Corporation Limited. Till such time that the debt due to the assessees from Mr.Darmendra Bafna, has not been fully recovered as against the disputed demand against the assessee, no enforcement or encashment of the assets of the assessees shall be executed by the Department.
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