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2016 (11) TMI 889 - KARNATAKA HIGH COURT

2016 (11) TMI 889 - KARNATAKA HIGH COURT - TMI - Attachment orders - recovery of dues - Time limit for sale of attached immovable property. - Held that:- When the reference made by the Revenue was disposed of on 10.08.2010, the sale of immovable property should have been made within a period of three years from the end of the financial year as mandated under Rule 68B to Second Schedule to the Act, which provides no sale of immovable property under this part after the expiry of three years from t .....

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the order of attachment Annexure-E till date is not proper. For the purpose of calculating three years it would be from the end of financial year on which the order was passed i.e. 10.08.2010, the end of the financial year would be 31.03.2011. Hence, the Demand Notice and Order of Attachment Annexure-E dated 28.02.2013 were no doubt issued within time, by virtue of Rule 68B (4) to Second Schedule to the Act has expired by 31.03.2014. In view of the above, Annexure-E order of attachment of immova .....

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nd Notice as per Annexure-D dated 13.10.2011. Under the provision of Rule 68B to Second Schedule to the Income Tax Act, 1961 (for short 'the Act') sale of immoveable properties should be within a period of three years, from the end of the financial year in which order gives rise to demand is passed. However, contrary to the said provision, no sale of immoveable property has been made as per order of attachment dated 28.02.2013 and continued till now. Hence, the learned counsel for the pe .....

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