2025 (5) TMI 981 - SCH - Income Tax

Claim of Unconditional stay on the proclamation and sale of the immovable property of which the Petitioner is the joint owner - as decided by HC 2025 (2) TMI 873 - BOMBAY HIGH COURT ad interim orders granted earlier can be confirmed if the Petitioner deposits 50% of the demanded amount with the Respondents within eight weeks of today. If no such deposit is made within eight weeks of today this interim order will stand vacated without further reference to this Court. We order accordingly. We clarify that this interim order only restrains the Respondents from selling the attached property. Based on this interim relief the Petitioner must not deal with the attached property or otherwise sell transfer convey or create any third-party rights in it. HELD THAT - As we see no reason to interfere with the impugned order passed by the High Court. Special Leave Petition is accordingly dismissed.

Summary

The Supreme Court, through Justices J. B. Pardiwala and R. Mahadevan, after hearing counsel and reviewing the record, declined to interfere with the impugned High Court order. The Court held: "we see no reason to interfere with the impugned order passed by the High Court." Consequently, the Special Leave Petition was dismissed, and any pending applications were disposed of.