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Late Ramesh Chandra Bajpai Thru. Legal Heir Vivek Kr. Bajpai Versus Principal Commissioner of Income Tax (Central Circle) & 2 Others

2015 (9) TMI 751 - ALLAHABAD HIGH COURT

Attachment orders - Liability to release the balance amount after meeting the liabilities - Held that:- Once the provisions of Income Tax Act provide to release the balance assets/amount after satisfying the liability, there is no occasion for the re .....

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on within fifteen days from the date of communication of this order. - Misc. Bench No. - 8152 of 2015 - Dated:- 4-9-2015 - Hon'ble Shri Narayan Shukla And Hon'ble Akhtar Husain Khan, JJ. For the Petitioner : Rohit Nandan Shukla For the Respon .....

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52000300087594 of the petitioner existing at Punjab National Bank, Banthara, Lucknow has been attached and the amount of cash ₹ 1,65,28,000/- available in the bank account has been seized on 25.02.2013. Learned counsel for the petitioner has su .....

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ioner, however, he has possessed the amount of ₹ 1,65,28,000/- from the saving bank account no.1852000300087594. Learned counsel for the petitioner has further submitted that under the provisions of Section 132-B of the Income Tax Act, the Asse .....

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e Commissioner of Income Tax (Central Circle), Lucknow for release of the amount on 15.05.2015 and 18.06.2015 but no attention has been paid on the petitioners' representation. In reply, Mr. Manish Mishra, learned counsel for the Revenue has subm .....

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owing manner: "I. .... II. The amount lying in PD A/c should be released within one month of passing of the assessment order after adjusting the seized cash against any existing liability and the amount of liability determined on completion of s .....

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