2019 (9) TMI 561 - JHARKHAND HIGH COURT - Income Tax

Head Note / Extract:
Stay of demand - petitioner is ready to make the deposit for the purpose that the cash credit account of the petitioner may be released from attachment - HELD THAT:- The offer given by the learned counsel for the petitioner, prima facie, appear to be genuine to us, in view of the fact that the cash credit account of the petitioner has already been attached, which may be causing hindrance in the business of the petitioner. Accordingly, we direct the petitioner to make the deposit of ₹ 30,00,000/- and upon the deposit of this amount, the attachment order dated 24.06.2019 attaching the cash credit account of the petitioner shall remain in abeyance, till the period one week, and if revision / review is filed against the order dated 08.04.2019 within the same period, the attachment order shall be guided by the final order passed by the Commissioner of Income Tax, on the revision / review application, and upon its compliance by the petitioner. All these writ petitions are disposed of, directing the petitioner to avail the alternative remedy first.