9911796707
TMI Blog2019 (5) TMI 695X X X X Extracts X X X X X X X X Extracts X X X X ..... enior Standing Counsel for the respondents, this Writ Petition is disposed of finally at the stage of admission. 3. The challenge in this Writ Petition is to the order of the 1st respondent dated 07.03.2019 and consequent coercive recovery proceedings by the Income Tax Department by attachment of eleven (11) bank accounts held by the petitioner group of Institutions as well as all Fixed Deposits maintained by the Institutions in the Corporation Bank, Paramathy Road, Namakkal. The coercive recovery is consequent upon a demand of a sum of Rs. 32,59,94,019/- arising from order of assessment for Assessment Year 2017-18. 4. The petitioner has challenged the aforesaid order of assessment by way of first appeal before the Commissioner of Income ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dated 31.07.2017, th 20% on the total tax demand amounting to Rs. 6,51,98,804/- should be paid. In this regard, you are requested to pay the amount of Rs. 6,51,98,804/- (20% on total tax demand) on or before 15.02.2019 and to produce the necessary evidences to the undersigned. Failing which, the coercive steps will be initiated to collect the tax arrears demand.' 6. The aforesaid communication has been issued by the first respondent even during the pendency of the application for stay before the CIT (A). The petitioner immediately brought to the notice of the first respondent, the fact that the application for stay filed by the petitioner was pending before the CIT (A), an authority superior to the assessing officer and requested him to ke ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ts. It was thus, incumbent upon the respondent to have awaited adjudication by the CIT (A) upon the request for stay made by the petitioner. 9. In the light of the discussion as aforesaid, the impugned order is set aside and the assessing authority is directed to lift attachments in the bank forthwith. It is brought to my notice by the learned standing counsel that a sum of Rs. 16,00,000/- (approx) has been appropriated from the accounts. The same shall be retained by the department and adjusted against the disputed demands. 11. The Writ Petition is disposed in the following terms: i) The petitioner will appear before the Commissioner of Income Tax (Appeals), the 2nd respondent herein, on 25.03.2019 at 10.30 a.m. ii) After hearing the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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