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2021 (7) TMI 1058 - HC - Income TaxRecovery proceedings - attachment orders - stay petition - as submitted petitioner deposited 20% of tax dues earlier, the property would not have been attached - HELD THAT:- Petitioner has been before appellate authority against the assessment order, disputing tax liability for AY 2010-11 and that there has been stay to demand under order passed by respondent No. 2 on 20% of amount of demand been deposited as required. The attachment order has been issued before the stay order and it is being contended that the respondent No. 1 has no authority and power to lift attachment unless 100% of the amount is collected and/or till finalization of dispute before appellate forum. This appears to be a reason which is coming in the way of banks / concerned authority from releasing property from attachment. The position emerges that there is no dispute on that petitioner has fulfilled the condition of deposit of 20% of amount for staying the effect and operation of order of demand. In the given circumstances, it would be proper that the attached property under order dated 25.11.2019 be released from attachment and as such, we allow the petition in terms of prayer clause (b).
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