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2019 (4) TMI 518

y taxable income. He is a second account holder in bank accounts maintained at U.K. His son is a permanent resident of U.K. who earns sizable income. The balance in the accounts does not belong to the petitioner. The petitioner has inherited sizable funds and properties from which he makes investments - HELD THAT:- Department has virtually prevented the petitioner for accessing his own funds in the bank accounts which would undisputedly cause great difficulty to the petitioner in meeting his day to day expenses, to meet with special requirements for medical attention for himself and his aged mother. While, therefore, without harming the interest of the Revenue, we would like to give limited relief to the petitioner against such action of th .....

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ise of powers under Section 132(9B) of the Income Tax Act, 1961 ( the Act for short) has provisionally attached the petitioner s two immovable properties as well as certain bank accounts in Kotak Mahindra Bank, Central Bank of India and Yes Bank. The details of immovable properties attached are as under:- 1. Residential Flat at 10-A, Jivan, 11, L.D. Ruparel Marg, Malabar Hill, Mumbai - 400 006; 2. Residential Flat at 8-C, Somerset Palace, 61 D, Bhulabai Desai Marg, Mumbai - 400 026. 2. This action the said Authority has taken pursuant to search conducted under Section 132 of the Act at the premises of the petitioner during which the department collected material to prima facie suggest that the petitioner has sizable interest income as well .....

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y the Income Tax Department is more than enough to cover for all possible tax, interest and penalty which may eventually arise even if all the defences of the petitioner are negatived. Learned counsel for the petitioner, therefore, argued that continuing the attachment on these immovable properties, the attachment of the bank accounts be lifted. He submitted that the petitioner himself is aged about 65 years, needs funds for his day to day expenses as well as medical treatment. The petitioner s mother is aged about 94 years and she is a heart patient. Her medical treatment requires constant expenses. It is pointed out that the total balance attached in the bank accounts comes to approximately ₹ 3 Crores. 5. On the other hand, the Depa .....

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ch and has formulated a prima facie belief that the petitioner has undisclosed income as well as undisclosed foreign investment. In order to protect the interest of the Revenue, therefore, the petitioner s bank accounts and two immovable properties have been put under provisional attachment. By such action, the Department has virtually prevented the petitioner for accessing his own funds in the bank accounts which would undisputedly cause great difficulty to the petitioner in meeting his day to day expenses, to meet with special requirements for medical attention for himself and his aged mother. While, therefore, without harming the interest of the Revenue, we would like to give limited relief to the petitioner against such action of the De .....

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that both the flats are in my sole and exclusive possession till date. 8. In totality of the above noted facts and circumstances, in our opinion, while maintaining the attachment of the two immovable properties of the petitioner, his bank accounts can be released from attachment. Even if the Department were to succeed substantially in its present stand, the petitioner s tax, interest and possible penalty liabilities are unlikely to exceed the valuation of the two immovable properties. 9. Under these circumstances, the attachment of the petitioner s two immovable properties is not disturbed. The petitioner is prevented from selling, transferring, creating any charge or encumbrances on the said two immovable properties till the present litiga .....

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