9911796707
TMI Blog2000 (11) TMI 111X X X X Extracts X X X X X X X X Extracts X X X X ..... ue No. 0320852, dated May 8, 1998. For the purpose of availing of exemption from capital gains under section 54B of the Act, the petitioner entered into various agreements for purchasing of agricultural land out of the compensation received by him. He filed returns for the assessment years 1997-98 and 1998-99 vide annexures P-16 and P-17. After about five months of receiving the amount of compensation, respondent No. 3 issued the impugned order of provisional attachment on the basis of the action initiated under section 148 of the Act against another assessee, i.e. Tek Ram, Hindu undivided family. The petitioner has challenged the impugned order on the ground that by initiating action against the assessee-Tek Ram, Hindu undivided family, respondent No. 3 did not acquire jurisdiction to attach his property under section 281B of the Act simply because he is the son of Tek Ram and a part of the compensation received by Tek Ram, Hindu undivided family was deposited in the form of FDRs and in SB account in his name. In the written statement filed on behalf of respondents, the attachment of the petitioner's property has been justified by making the following assertions : "6. It is tru ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sp; Rs. 23-7-1996 10,00,000 F.D. No. J151 23-7-1996 10,00,000 F.D. No. 503 23-7-1996 3,00,000 S.B. a/c No. 60002 24-4-1997 4,50,000 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bsp; 16,75,000 ------------- This left an amount of Rs. 13,25,000 still in his name. As against this, what remains attached under section 281B by the Department is just Rs. 12,82,199 after the release of Rs. 9,73,047 on January 4, 1999. Thus, the attachment of an amount of Rs. 12,82,199 is standing in the name of the petitioner is legal as this money belongs to the Hindu undivided family against whom an order under section 281B was passed and served and against whom notices under section 148 were issued." In the replication filed by the petitioner, it has been averred that the amount attached by respondent No. 3 does not relate to part of the compensation deposited in his name out of Rs. 82,15,822 received in the name of Tek Ram, Hindu undivided family. The petitioner also filed additional affidavit dated March 27, 2000, along with C. M. No. 5926 of 2000, to show that out of the amount of Rs. 30,00,000 received out of the compensation amount, a su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ious approval of the Chief Commissioner, Commissioner, Director-General or Director, by order in writing, attach provisionally any property belonging to the assessee in the manner provided in the Second Schedule. Explanation.--- For the purposes of this sub-section, proceedings under sub-section (5) of section 132 shall be deemed to be proceedings for the assessment of any income or for the assessment or reassessment of any income which has escaped assessment. (2) Every such provisional attachment shall cease to have effect after the expiry of a period of six months from the date of the order made under sub-section (1) : Provided that the Chief Commissioner, Commissioner, Director-General or Director may, for reasons to be recorded in writing, extend the aforesaid period by such further period or periods as he thinks fit, so, however, that the total period of extension shall not in any case exceed two years ; Provided further that where an application for settlement under section 245C is made, the period commencing from the date on which such application is made and ending with the date on which an order under sub-section (1) of section 245D is made shall be excluded from the p ..... X X X X Extracts X X X X X X X X Extracts X X X X
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