TMI Blog2016 (7) TMI 481X X X X Extracts X X X X X X X X Extracts X X X X ..... were cancelled ab initio. - GVAT - Held that:- we are of the opinion that the department's interest would be sufficiently safeguarded by securing possible dues through immovable properties of the partners of the firm - We are informed that some of the properties belong to the relatives of the partners of the firm. The partners as well as such relatives-owners shall file undertaking before this Court that they have no objection to the attachment continuing and in the eventuality of the tax dues of the firm remaining unpaid, they would raise no objection to the department selling said properties for recoveries thereof. - Matter remitted back before appellate authority for decision on merits. - TAX APPEAL NO. 377 of 2015 With TAX APPEAL NO. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... llate Commissioner who directed the assessee to deposit 20 per cent of the total demand by way of pre-deposit as a condition to hear the appeal on merits. Since the assessee failed to do so, the appeal was dismissed only on this ground. Against this order, the assessee preferred further appeal before the Tribunal. Similar facts arise in other year. Total principal tax demand of the other year comes to ₹ 2.97 crores (rounded off). The Tribunal required the assessee to deposit ₹ 3 crores by way of pre-deposit but granted instalments, initially requiring the assessee to make a total pre-deposit of ₹ 40 lacs which the assessee did. Later on, however by the impugned order dated 18.2.2015, the Tribunal dismissed the appeal since ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... these properties would not exceed ₹ 3.50 crores. On the other hand, learned counsel for the assessee submitted that the real price of the property is far higher than Jantri rates. In any case, the principal tax due is less than ₹ 3.5 crores. The penalty is imposed without proper justification. 5. In facts of the case, we are of the opinion that the department's interest would be sufficiently safeguarded by securing possible dues through immovable properties of the partners of the firm. The assessee having already deposited ₹ 40 lacs by way of pre-deposit, the appeals may be heard by the Commissioner on merits subject to certain safeguards. These would be that six constructed commercial properties and the open plot b ..... X X X X Extracts X X X X X X X X Extracts X X X X
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