W.P.Nos.1606, 1608, 1609, 1610 & 1614 of 2024and W.M.P.Nos.1635, 1639, 1640, 1643, 1644, 1645, 1646, 1648, 1641 & 1649 of 2024SENTHILKUMAR RAMAMOORTHY,JWhile learned senior counsel for the petitioner relied on several judgments, including the judgment of the Hon’ble Supreme Court in Radhakrishnan Industries v. State of Himachal Pradesh, (2021)6 SCC 771, to contend that the impugned attachment orders are liable to be quashed, learned senior standing counsel for the respondents distinguished those judgments, cited other judgments such as Sahara Credit Cooperative Society Ltd. v. Commissioner of Income-tax-I Lucknow, (2014)270 CTR 91 (Allahabad) and contended that the impugned order fully complies with the requirements of Section 281B of the Income Tax Act, 1961.
At this juncture, the immediate concern is with regard to the attachment of assets described by the petitioner as its stock-in-trade.
Both the opinion of the assessing officer in relation to provisional attachment and the approval in respect thereof refer to the failure of the petitioner to discharge its admitted tax liability. On instructions, learned senior counsel for the petitioner submitted that the remaining amount due and payable towards income tax liability on the basis of self-assessment for assessment year 2023-24 is a sum of about Rs.28,00,00,000/-. He submits that the said amount would be remitted within a maximum of five working days. Since the petitioner has invoked the equitable and discretionary jurisdiction of this Court, the petitioner should be put on terms.
Therefore, the following interim order is issued: (i) the petitioner is directed to pay the entire income tax liability, i.e. a sum of Rs.38,36,34,780/- in the aggregate, as per selfassessment for assessment year 2023-24, on or before 26.02.2024. (ii) subject to and upon receipt of this entire sum by the Income Tax Department, an order of interim stay of the impugned attachment orders shall come into operation and remain in force until the next date of hearing.
On the next date of hearing, additional safeguards in the interest of revenue will be decided upon and imposed as regards potential income tax liability pertaining to alleged undisclosed income. List the matter on 29.02.2024. 15.02.2024 rna SENTHILKUMAR RAMAMOORTHY,J rna W.P.Nos.1606, 1608, 1609, 1610 & 1614 of 2024 and W.M.P.Nos.1635, 1639, 1640, 1643, 1644, 1645, 1646, 1648, 1641 & 1649 of 2024 15.02.2024
