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2007 (7) TMI 380 - RAJASTHAN HIGH COURTRecovery of Tax– Provisional Attachment –On the writ petition filed by the assessee contending that by the attachment of three fixed deposits amounting to Rs. 1 Crore, the assessee was deprived of his opportunity to complete the transaction of fresh purchase of agricultural land with in two years from the date of transfer of agricultural land in question which resulted in capital gain. In this case Rajasthan High Court held that the provisional attachment order of three FDRs (annexure 11) dated April 17, 2007 is quashed and it is directed that the FDRs in question may be released within a period of 15 days from today. It is expected that the appeal pending before the learned Commissioner of Income-tax (Appeals) would be expeditiously decided within a period of three months from today. This writ petition is disposed of with no order as to costs.
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