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2016 (3) TMI 593 - BOMBAY HIGH COURT

2016 (3) TMI 593 - BOMBAY HIGH COURT - TMI - Recovery of tax dues - Consent from BIFR - consent in terms of Section 22 of the SICA Act - Held that:- On plain reading of the provisions of Section 22 of the SICA, it cannot be disputed that even coercive action to recover the dues in terms of the Income Tax Act would require the consent from BIFR in terms of the said Act as an inquiry under Section 16 of the SICA is pending. The learned Counsel appearing for the Respondents also does not dispute th .....

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e Petitions are taken up together as it was not disputed that the points raised therein are similar. 2. Heard Shri S. R. Rivankar, learned Counsel appearing for the Petitioners and Ms. Asha Desai, learned Counsel appearing for the Respondents. 3. Rule. Heard forthwith with the consent of the learned Counsel. Learned Counsel appearing for the Respondents, waives service. 4. Upon hearing Shri Rivankar, learned Counsel appearing for the Petitioners and Ms. Desai, learned Counsel appearing for the R .....

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to be declared as a SICA unit has been registered on 12.01.2015 and the subject demand was issued by the Assessing Officer only in December, 2015. Learned Counsel has thereafter taken us through the provisions of Section 22 of the said Act to point out that even for recovery under the Income Tax Act, no coercive action can be taken against the Petitioners without obtaining the permission from the Board for Industrial and Financial Reconstruction(BIFR) in terms of the SICA Act. Learned Counsel f .....

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6. On the other hand, Ms. Asha Desai, learned Counsel appearing for the Respondents, has pointed out that the Respondents are entitled to recover such amounts and the Petitioners have an alternate remedy to challenge the impugned Demands before the Commissioner of Income Tax. Learned Counsel further pointed out that the Assessing Officer learnt that the Petitioners were being registered as a sick unit only recently and the authorities will take necessary consent in terms of Section 22 of the SIC .....

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