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2016 (5) TMI 358 - BOMBAY HIGH COURT

2016 (5) TMI 358 - BOMBAY HIGH COURT - TMI - Stay application - attachment orders of immovable property as well as movable property - Held that:- In the event the Assessing Officer decides the stay application against the Petitioner, then in terms of the CBDT instructions, an application to the next superior authority i.e. Additional Commissioner and/or the Commissioner would be filed by the Petitioner within one week from the date of the Assessing Officer's order, rejecting the stay application .....

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ted 28th March, 2016 being Exh.A1 to A5 is not disturbed by this order. They continue. Only the Revenue will not act upon it to take any further action in the manner provided in the Second Schedule to the Act, for the period as mentioned herein above at (ii);

The Petitioner will file an undertaking not to dispose of and/or alienate the property, which are subject to attachment by order dated 28th March, 2016 being Exh. A1 to A5 passed under Section 281B of the Act till such time as th .....

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Income Tax would decide the Petitioner's application expeditiously i.e. within three weeks of the receipt of the applications. It is further clarified that the time during which the Revenue is unable to act further upon the orders of attachment dated 28th March, 2016 being Exh. A1 to A5, because of pendency of this Petition and disposal of the Petitioner's application within the aforesaid time frame, would be excluded for the purpose of computing the life of the orders of attachment under Sectio .....

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6 issued under Section 281B of the Income Tax Act, 1961 (the Act). The impugned order dated 28th March, 2016 attaches the Petitioner's immovable property as well as movable property as listed out in Exh. A1 to A6. 2. On 12th April, 2016, this Petition was on board for urgent relief. After hearing the parties, we directed that the attachment of business receivables as listed out in the order date 28th March, 2016 being Exh. A6 to the Petition be vacated. This was by following the decision of .....

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ppeals) [CIT(A)] as also an application for stay to the Assessing Officer under Section 220(6) of the Act, seeking stay of the demand consequent to the order of assessment dated 31st March, 2016. 4. In the above view, particularly the passing of the Assessment Order dated 31st March, 2016, Mr. Mistri, learned Senior Counsel appearing for the Petitioner suggests a via media. This to the effect that the orders dated 28th March, 2016 passed under Section 281B of the Act being Exh. A1 to A5 may be c .....

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dated 28th March, 2016 being Exh. A1 to A5 passed under Section 281B of the Act will continue. Further, Petitioner should undertake not to alienate and/or dispose of the attached property during the existence of the impugned order dated 28th March, 2016 being Exh. A1 to A6. 6. In the above view, as the parties are agreed to the above course of action, we give the following further directions: (i) In the event the Assessing Officer decides the stay application against the Petitioner, then in term .....

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of the Assessing Officer i.e.Additional Commissioner/ Commissioner and for the period of three weeks thereafter. This is only to enable the Petitioner to take recourse to such legal remedies as may be advised; (iii) The attachment made by the order dated 28th March, 2016 being Exh.A1 to A5 is not disturbed by this order. They continue. Only the Revenue will not act upon it to take any further action in the manner provided in the Second Schedule to the Act, for the period as mentioned herein abov .....

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