High Court of Punjab and HaryanaCWP/3859/2015disposed of

M/S Nasib Singh & Sons Huf v. Chief Commissioner Of Income Tax & ORS

2015-07-27Mr. Justice M.M. Aggarwal,Mr. Justice A.B. Chaudhari2 pages

In the High Court of Punjab and Haryana, at Chandigarh Civil Writ Petition No. 3859 of 2015 Date of Decision: 27.7.2015 M/s Nasib Singh and Sons HUF ... Petitioner(s)

Versus

Chief Commissioner of Income-tax and Others ... Respondent(s) CORAM: HON'BLE MR. JUSTICE S.J. VAZIFDAR, ACTING CHIEF JUSTICE. HON'BLE MR. JUSTICE G.S. SANDHAWALIA.

Present: Mr. D.S.Patwalia, Senior Advocate with Mr. Sehejbir Singh, Advocate for the petitioner(s).

Mr. Rajesh Katoch, Advocate for respondents No.1 to 3.

Mr. I.P.S.Doabia, Advocate for respondent No.4.

S.J. VAZIFDAR , A.C.J.

(Oral) Pursuant to the order of the Settlement Commission, the Assessing Officer has re-assessed the tax dues. Admittedly, the tax dues even with interest are less than ` 1,00,00,000/-. The fixed deposits issued by respondent No.4-State Bank of India with accretions thereto are of the value of over ` 1,00,00,000/-. The revenue, therefore, is totally protected.

In the circumstances, it will be only fair to direct the respondents to maintain status quo in respect of the fixed deposits till the CIT decides the petitioner's application for stay. The application for stay has already been made. However, the petitioner shall be at liberty DEEPAK KUMAR BHARDWAJ 2015.07.29 10:25 I attest to the accuracy and authenticity of this document

Civil Writ Petition No. 3859 of 2015 to make a fresh comprehensive application for stay. In the circumstances, the petition is disposed of by directing all the parties to maintain status quo in respect of the fixed deposit receipts, which are under attachment. In other words, the amount shall not be appropriated by the department and the petitioners till the CIT decides the petitioner's application for stay, if made, on or before 10.8.2015 and for a period of four weeks, thereafter, in the event of the order being adverse to the petitioner. The release of the other amounts shall also be decided by the CIT while deciding the application for stay. (S.J.Vazifdar) Acting Chief Justice (G.S.Sandhawalia) Judge July 27, 2015 "DK"

DEEPAK KUMAR BHARDWAJ 2015.07.29 10:25 I attest to the accuracy and authenticity of this document