TMI Blog2017 (3) TMI 1878X X X X Extracts X X X X X X X X Extracts X X X X ..... dering the matter afresh in respect of those three accounts The interest of the Revenue will not be prejudiced in any manner, if the respondent is directed to issue No Objection Certificate in respect of remaining five the petitioner is protecting the interest of the Revenue by not getting the No Objection Certificate , for the present, in respect of the other three Accounts are concerned pending a decision to be made afresh by the respondent, after hearing the petitioner. WP allowed in part. - W.P.Nos.5855 of 2017 and W.M.P.No. 6266 of 2017 - - - Dated:- 27-3-2017 - THE HONOURABLE MR.JUSTICE K.RAVICHANDRABAABU For the Petitioner : Mrs.Pushpa Sitaraman Senior Counsel For M/s.J.Sree Vidya For the Respondent : Mr. S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d she had shown her return of Income filed for the assessment year 2013-2014 and declared the amount of ₹ 1,25,310/- as tax. The petitioner wanted to purchase an apartment and with that view, a sum of ₹ 10 Lakhs was paid to one M/s. Sumanth Co. as an advance and the balance amount of ₹ 2,45,71,750/- was deposited in the Capital Gain Accounts, in UCO Bank, Anna Nagar West Branch, Chennai. 4. In the meanwhile, the petitioner and her husband were advised that as per section 64 of the Income Tax Act, the Capital Gains would be assessed only in the hands of the husband, as the property in possession, has been settled by him in favour of the petitioner and therefore, the petitioner would not get benefit under section 54 o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reafter, so that the petitioner would be in a position to satisfy the respondent, as to how the demand is not correct. 7. The learned counsel appearing for the petitioner also, in all fairness, submitted that though the capital gain accounts with the UCO Bank, Anna Nagar, Chennai are in eight different account numbers, the respondent may consider the request of the petitioner for issuing No Objection Certificate insofar as five accounts are concerned, by retaining the three accounts which would cover the total demand of the tax. By saying so, the learned counsel invited this Court's contention to the averments made in Para 8 of the affidavit, giving the details of such fixed deposit, with its maturity value as follows: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the total amount in deposit, in respect of three account numbers in serial Nos. 3, 4 and 7 of the above referred accounts. Considering the fact that the petitioner has come forward with a request only in respect of other five accounts and willing to go before the respondent for considering the matter afresh in respect of those three accounts, I am of the view that the interest of the Revenue will not be prejudiced in any manner, if the respondent is directed to issue No Objection Certificate in respect of remaining five accounts namely under Account Nos. 21000310017661, 21000310017654, 21000310017609, 21000310018033 and 21000310017562, since the petitioner is protecting the interest of the Revenue by not getting the No Objection Cert ..... X X X X Extracts X X X X X X X X Extracts X X X X
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