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Padmavathy Ravishankar Versus The Income Tax Officer, The Commissioner of Income Tax

2015 (11) TMI 1072 - MADRAS HIGH COURT

Stay the recovery proceedings - demanding 50% of the demanded tax - Held that:- The property in question, which was earlier registered inadvertently came to be registered once again, which lead the assessing authority to pass the impugned assessment order under the provisions of the Income Tax Act, 1961, as against which, the Petitioner filed an appeal before the 2nd Respondent and in the stay application filed by the Petitioner, the Petitioner was directed to pay 50% of the demanded tax in orde .....

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iod of eight weeks from the date of receipt of a copy of this order. On such payment, the Respondents are restrained from initiating the recovery proceedings against the Petitioner, till the disposal of the appeal by the 2nd Respondent. The 2nd Respondent is directed to dispose of the appeal, on merits and in accordance with law, as expeditiously as possible. - WP. No. 35051 of 2015, MP. No. 1 of 2015 - Dated:- 16-11-2015 - The Honourable Mr. Justice R. Mahadevan, J. For the Petitioner : Mr.K.Ra .....

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.2013, admitting an income of ₹ 3,57,010/-. The Petitioner purchased UDS of 1189 sq.ft. with 139 sq.ft. common passage and buildings thereon, comprised in S.No.207/24, New T.S.No.22 Part, Block No.30, Koyambedu Village, Chennai, by a registered sale deed dated 3.2.2006 for a total sale consideration of ₹ 25,09,940/-. Later, the Petitioner came to know that there was a title dispute in the said lands between the Tamil Nadu Housing Board and one S.Gowri, which was settled out of court .....

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ty was sought to be rectified by the Petitioner by the sale deed dated 12.08.2011. The Petitioner explained to the 1st Respondent that the properties conveyed by the said two sale deeds are one and the same and that the property conveyed under the sale deed dated 29.12.2011 is the only area of the property reconveyed after rectification. However, the 1st Respondent by assessment order dated 31.03.2015, demanded a tax of ₹ 54,05,590/- including interest, taking into consideration the market .....

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filed. 3. The learned counsel for the Petitioner contended that the defect in the title due to the change in the area of the property was sought to be rectified by the Petitioner by the sale deed dated 12.08.2011 and after rectification, the properties conveyed under the two sale deeds are one and the same and that the Petitioner has not paid any consideration as stated in the sale deed dated 29.12.2011, which was confirmed by the vendors and the addition of ₹ 9,00,000/- is unwarranted, a .....

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terials placed on record. 5. According to the Respondents, the property conveyed in the original deed is not exactly the same as the property mentioned in the sale deed dated 29.12.2011 and hence, only by the sale deed dated 29.12.2011, the ownership is legally vested with the assessee. According to the Petitioner, only for record purpose, the total market value of the property was mentioned in the sale deed dated 29.12.2011 as ₹ 1,15,28,000/- as per the directions of Sub Registrar, taking .....

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