Petitioner company challenged attachment of properties by tax authorities. Despite pending appeal, Court lifted attachment upon securing specific deposit and title deeds as alternative security.
Lifting of attachment on deposit of Rs. 75 lakhs and title deeds of offered property; Tribunal directed to expedite pending appeal.
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IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT:
THE HONOURABLE MR.JUSTICE ANTONY DOMINIC
TUESDAY, THE 18TH DAY OF SEPTEMBER 2012/27TH BHADRA 1934
WP(C).No. 21028 of 2012 (C)
PETITIONER :
M/S.DAMAC HOLDINGS PVT. LTD 32/2241 A, CIVIL LANE ROAD, PALARIVATTOM KOCHI-682 025, REPRESENTED BY ITS DIRECTOR C.BALASUBRAMANIAM.
BY ADVS.SRI.HARISANKAR V. MENON SMT.MEERA V.MENON SRI.MAHESH V.MENON
RESPONDENT(S):
1. DEPUTY COMMISSIONER OF INCOME TAX
2. COMMISSIONER OF INCOME TAX (APPEALS)
3. TAX RECOVERY OFFICER
4. COMMISSIONER OF INCOME TAX (CENTRAL)
5. INCOME TAX APPELLATE TRIBUNAL
BY ADV. SRI.P.K.R.MENON, SR.COUNSEL, GOI (TAXES) BY ADV. SRI.JOSE JOSEPH, SC, INCOME TAX
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 18-09-2012, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
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WP(C).No. 21028 of 2012 (C)
APPENDIX
PETITIONERS' EXHIBITS :
RESPONDENTS' EXHIBITS : NIL
//TRUE COPY//
P.S. TO JUDGE
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ANTONY DOMINIC, J. ================ W.P.(C) NO. 21028 OF 2012
===================
Dated this the 18th day of September, 2012
J U D G M E N T
Heard the learned counsel for the petitioner and also the learned standing counsel appearing for the respondents.
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WPC.No.21028/12
attachment. There was no response to Ext.P7 and therefore they made Ext.P8 reiterating the request for lifting the attachment but however offering the property having an extent of 98.664 cents comprised in R.S.Nos.303/5, 303/6, 303/7, 303/8 and 303/9 covered by document No.4044/07 and situated in Thengode, Kakkanad as alternate security. Petitioner also pointed out that according to them, the value of the property is more than `2.95 crores. However by Ext.P9 dated 4/9/12, they were informed that the request for release of the property attached by Ext.P6 accepting the property offered in Ext.P8 cannot be considered “at this stage”. It is in these circumstances, the writ petition is filed.
WPC.No.21028/12
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considered.
(1) That the petitioner shall deposit an amount of `75,00,000/- (Rupees Seventy five lakhs only) within one month.
(2) Petitioner shall also deposit the title deeds pertaining to the property mentioned in Ext.P8 with the 1st respondent.
(3) I record the submission made on behalf of the petitioner that the property is free from encumbrance and that they will not deal with the property in any manner until the appeal is decided and the documents are released.
WPC.No.21028/12
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(4) Once the petitioner complies with the above directions, the attachment effected as per Ext.P6 will be lifted.
(5) The 5th respondent Tribunal is directed to dispose of Ext.P5 appeal with notice to the parties concerned and as expeditiously as possible.
ANTONY DOMINIC, JUDGE
Rp
1 issue framed by the court
Whether a petition seeking release of attached properties against tax liability can be granted when an adequate alternative security is offered by the petitioner.
M/S.DAMAC HOLDINGS PVT. LTD
DEPUTY COMMISSIONER OF INCOME TAX
COMMISSIONER OF INCOME TAX (APPEALS)
TAX RECOVERY OFFICER
COMMISSIONER OF INCOME TAX (CENTRAL)
INCOME TAX APPELLATE TRIBUNAL
ANTONY DOMINIC
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
