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2024 (3) TMI 155 - MADRAS HIGH COURTPenalty u/s 271DA - amount remitted into the petitioner's accounts, for violation of Section 269 ST - attachment notices - HELD THAT:- As the petitioner has placed on record evidence that prima facie indicates that the receipt of Rs. 2.57 crore was under Cheque No.119160 issued by M/s.Golden Vats Private Limited. If the petitioner is able to satisfy the appellate authority that the said remittance was indeed made by a cheque, the order imposing penalty would be unsustainable. Meanwhile, on account of the impugned orders of attachment, the petitioner which operates two educational institutions is unable to discharge payment obligations. Therefore, it becomes necessary to balance the petitioner's interest, on the one hand, and safeguard revenue interest, on the other. Towards such end, the petitioner is directed to remit a sum of Rs. 12.5 lakhs as a condition for raising the attachment of its bank accounts. Subject to an immediately upon receipt of the said sum, all of the attachment orders impugned herein shall stand raised and the petitioner shall be free to operate its bank accounts. This order is, however, subject to the outcome of the appellate proceedings.
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