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2021 (11) TMI 929 - HC - Income TaxRecovery proceedings - Stay of demand - Properties including the stock-in-trade have been attached - petitioner submits that as his properties including the stock-in-trade have been attached, his business activities have been completely jeopardized, for which reason he is unable to generate any revenue for payment of the tax dues - HELD THAT:- In the light of the contentions made and taking an over all view of the matter, we feel that it would meet the ends of justice, if the attachment of the stock-in-trade of the petitioner is withdrawn to enable him to meet the tax dues in terms of the first proviso to Section 254 (2A) of the Act.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that not much money could be appropriated through attachment of bank accounts, attachment of the bank accounts may be withdrawn.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on 31.03.2018.On such deposit, attachment of the petitioner’s bank accounts as well as the stock-in-trade shall stand withdrawn forthwith
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