TMI Blog2024 (1) TMI 1038X X X X Extracts X X X X X X X X Extracts X X X X ..... o be adjusted against the existing demands. In the statement filed on behalf of the respondents it is stated that the provisional attachment on the properties of the petitioner was valid only for a period of six months from the date of the order as per the provisions under Section 222(2)(b) of the Income Tax Act and the said provisional attachment could be extended up to two years or sixty days from the date of the order of assessment whichever is later. It is further stated that after expiry of period of six months or further period as the case may be, the order of attachment automatically comes to an end. In the case of the petitioner, the last attachment was on 30.12.2019 which was valid for a period of six months from 30.12.2019 and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Income Tax Appellate Tribunal in its order dated 20.01.2023. The order of attachment was passed after the assessment orders had originally finalised by the assessing authority which have been now set aside. On remand the assessing authority has deleted the additions earlier made and refund of Rs. 10,77,61,574/- in respect of the assessment years 2012-13 to 2018-19 has been work out to be granted to the petitioner. 3. Once there is no tax liability on the petitioner for which the petitioner s properties could be attached, there is no justification for keeping the attachment on the properties after the fresh assessment order always had been passed and refund of Rs. 10,77,61,574/- has been found to be adjusted against the existing deman ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pertinent to note the provisional attachment order is valid for only 6 months from the date of the order unless extended by such period with approval of the competent authority so much so that the total period of extension shall not exceed two years or sixty days from the date of order of assessment whichever is later. Hence on expiry of the period of 6 months or further extended period as the case may be the order of attachment becomes automatically void ab initio. In the case of the petitioner, the last attachment was on 30.12.2019, which was valid only for 6 months from 30.12.2019. thereafter the order of attachment becomes void ab initio as mentioned above. As a result, it is submitted that the provisional attachments that were made are ..... X X X X Extracts X X X X X X X X Extracts X X X X
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