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Tribunal eases asset freeze for Sukalp Agencies, allows factory operations to continue smoothly. The Tribunal modified the attachment order on M/s. Sukalp Agencies' assets, allowing the factory to operate smoothly by setting aside the attachment on ...
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Tribunal eases asset freeze for Sukalp Agencies, allows factory operations to continue smoothly.
The Tribunal modified the attachment order on M/s. Sukalp Agencies' assets, allowing the factory to operate smoothly by setting aside the attachment on raw materials, work-in-progress, and finished goods. The Tribunal directed completion of re-adjudication within 90 days for the demand set aside, amounting to Rs. 12,85,084/-. The appellant was instructed to make regular deposits towards the pending demand, and the revenue was barred from taking coercive measures until final adjudication.
Issues: 1. Attachment order affecting the operation of the factory. 2. Pending re-adjudication of the demand set aside by the Tribunal. 3. Request for modification of the attachment order and completion of re-adjudication.
Analysis: The Miscellaneous Application was filed by M/s. Sukalp Agencies concerning a Final Order confirming part of the demand and setting aside another part for Rs. 12,85,084/-. The appellant had appealed to higher courts, but the Tribunal's decision was upheld. The appellant had paid Rs. 19,58,726/- of the confirmed demand while facing an attachment order on their assets, hindering factory operations.
Regarding the attachment order, the appellant's Counsel highlighted the difficulty in running the factory due to the attachment of raw materials, work-in-progress, and finished goods. They requested a modification of the order to allow the factory to operate smoothly and complete the re-adjudication as per the Tribunal's Final Order.
After hearing the arguments, the Tribunal noted that re-adjudication was pending for the demand set aside, amounting to Rs. 12,85,084/-. Acknowledging the substantial payments made by the appellant, the Tribunal modified the attachment order. They allowed the appellant to run the factory normally by setting aside the attachment on raw materials, work-in-progress, and finished goods. The adjudicating authority was directed to complete the re-adjudication within 90 days and the appellant to make regular deposits towards the pending demand.
In conclusion, the Tribunal disposed of the application, permitting the factory operation, directing completion of re-adjudication, and outlining deposit requirements for the pending demand. The revenue was instructed not to take coercive measures until final adjudication of the demand set aside by the Tribunal.
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