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2017 (3) TMI 1528 - MADRAS HIGH COURTAttachment orders - stay petition - Held that:- It is not in dispute that the petitioner Co-operative Bank, after suffering an order of assessment, has preferred an Appeal before the First Appellate Authority namely, the Commissioner of Income Tax (Appeals) Pondicherry, who in turn dismissed such Appeal only on 20.03.2017, by serving a copy of the same on the petitioner only on 23.03.2017. It is also evident that the 1st respondent, in the meantime, has issued the impugned attachment order as on 21.03.2017, i.e., just immediately a day after the disposal of the appeal by the Appellate Authority, without even waiting for the petitioner to approach the Tribunal and seek for appropriate interim relief while filing the Appeal challenging the order of the First Appellate Authority. It is also seen from the proceedings of the 2nd respondent dated 22.03.2017 that in pursuant to the impugned order of attachment, a sum of ₹ 1,51,07,000/- was also debited from the account of the petitioner to the credit of the 1st respondent. This Court, at this stage, cannot go into the correctness or otherwise of the order of attachment as confirmed by the Appellate Authority, as the petitioner is still having further remedy of Appeal before the Income Tax Appellate Tribunal as provided under the statute itself. It is also not in dispute that the petitioner is entitled to seek for interim relief of stay of the proceedings while preferring the appeal and it is for the Tribunal to consider such request and pass orders on the same on its own merits and in accordance with law. But in the meantime, in pursuant to the order of attachment, already a sum of ₹ 1,51,07,000/- was debited from the account of the petitioner. Therefore, in all fairness, the 1st respondent has to wait till the Income Tax Appellate Tribunal passes an order on the stay petition to be filed by the petitioner while preferring the appeal. The petitioner shall prefer an Appeal before the Income Tax Appellate Tribunal within a period of 30 days from the date of receipt of a copy of this order along with a stay petition.Such Stay Petition filed by the petitioner shall be taken up by the Income Tax Appellate Tribunal and decided on its own merits and in accordance with law within a period of 7 days from the date of such filing.
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