L.S. Abinesha Babu vs The Chief Commissioner of Income Tax and Others

M. Jaichandren, J.—At this stage of the hearing of the writ petitions, the learned Counsel appearing for the Petitioner had submitted that the impugned guarnishee order, issued by the fourth Respondent, may be set aside, on the Petitioner furnishing immovable property security equivalent to the tax amount of Rs. 4,86,17,070/-, to the satisfaction of the fourth Respondent. He had also submitted that on the Petitioner furnishing such security, the third Respondent may be directed to dispose of the appeal, dated 31.1.2011, filed by the Petitioner, in respect of the alleged tax dues.

In view of such submissions made by the learned Counsel appearing for the Petitioner, the Petitioner is directed to furnish immovable property security for the amount of Rs. 4,86,17,070/-, said to be the tax due from the Petitioner, to the satisfaction of the fourth Respondent, within a period of fifteen days from today. On the Petitioner furnishing such security, the attachment of the bank account, by way of the impugned guarnishee order, dated 18.2.2011, shall stand raised. Further, on the Petitioner satisfying the above condition, the third Respondent appellate authority, shall dispose of the appeal, dated 31.1.2011, filed by the Petitioner, within a period eight weeks thereafter.

The writ petitions stand disposed of accordingly. No costs. Connected M.P. Nos. 1,1 and 1 and 2,2 and 2 of 2011 are closed.