TMI Blog2017 (2) TMI 338X X X X Extracts X X X X X X X X Extracts X X X X ..... t the petitioner be given a chance to settle the entire dues under the IT Act created by the 4th respondent, which also occasioned the charge being created on the property purchased by the petitioner. The respondents 1 to 3 shall, hence, intimate the amounts due as on 10th November, 2016 with any interest accruing to the dues and the petitioner shall be permitted to pay the said amounts within the said period; i.e., on or before 10.11.2016. The intimation of computation of amounts with interest shall be served on the petitioner within three weeks from the date of receipt of a certified copy of this judgment. If the petitioner makes the payment prior to 10/11/2016, deduction in the interest shall also be made so as to compute the interest ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... econd Schedule to the Income Tax Act, 1961 [for brevity IT Act ] the auction purchaser has to be deemed to be a defaulter and the 25% amounts paid on the date of auction has to be forfeited; thus dis-entitling the purchaser from obtaining the conveyance of the said property at this distance of time. It is also prayed that, on such action taken by the Income Tax authorities; deeming the auction purchaser to be a defaulter, the prescription under Rule 58 is to proceed for a fresh auction for sale, which need not be resorted to, since the petitioner now undertakes to pay the entire dues to the Income Tax Department with interest. 3. Respondents 5 to 8 contend that on the date of auction itself the petitioner obtained an injunction against ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tioner by Exhibit P2 dated 13/06/1991. 5. The petitioner, after the auction purchase, had filed a claim petition, which was rejected and in the claim petition admittedly the contention was that the 4th respondent had sold the property to the petitioner and his father, so as to satisfy the dues under the IT Act. In such circumstance, the petitioner cannot claim to be a bona fide purchaser; nor can he claim that the statutory charge under the IT Act would be effaced by reason of such purchase. Be that as it may, the contention raised is different, insofar as the purchase having not fructified and the purchaser being disabled from seeking for a conveyance at this belated stage, especially on default in payment of balance sale consideratio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... espondents 5 to 8 was also issued with notice. There was no order of stay and the delay itself was condoned on 07/02/2000, by which time considerable time had elapsed and the additional 6th defendant in the suit, who is the purchaser of the property, did not care to remit the balance consideration. The appeal was dismissed for default on 25/05/2011. Again a restoration petition was filed before this Court and after hearing the appeal itself, the same stood dismissed on 10/09/2012. A review petition filed, numbered as R.P.678 of 2013, also stood dismissed on 09/10/2013. Admittedly, till date neither the purchaser nor the legal heirs have cared to deposit the balance sale consideration. In such circumstance, Rule 58 of Schedule II of the IT A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or before 10.11.2016. The intimation of computation of amounts with interest shall be served on the petitioner within three weeks from the date of receipt of a certified copy of this judgment. If the petitioner makes the payment prior to 10/11/2016, deduction in the interest shall also be made so as to compute the interest only till the date of payment. If such payment is made, attachment shall be lifted. It is also directed that if amounts with respect to the dues have already been received, the same shall be deducted; for which the petitioner relies on Exhibit P10. The petitioner then shall be retained and reverted with unencumbered title of the property covered by Exhibits P1 and P2. The balance property covered by Exhibit P 5 shall then ..... X X X X Extracts X X X X X X X X Extracts X X X X
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