Attachment and proclamation of sale of immovable property: limitation treated from financial year end; proclamation held within period, petition dismi...
Second Schedule attachment and validity of a post-notice mortgage: TRO cannot declare mortgage void ab initio; sale and appropriation allowed thereaft...
Limitation for final assessment under sections 144C and 153 treated jointly, resulting in quashing of timebarred assessment order and liberty to reviv...
Deductibility of settlement payments for securities law penalties and treatment of unexplained cash credits in share trading -- Tribunal upholds posit...
Threshold for allottee-initiated insolvency petitions in leasehold real estate upheld; petition admitted after possession letters deemed legally ineff...
Contravention of foreign exchange rules in crossborder diamond payments; appellate tribunal reduces one appellant's penalty for delay and proportional...
A second provisional attachment issued after the earlier order had expired was unsustainable where it rested on the same facts and no change in circumstances was shown. The Court held that Section 83(2) does not permit a fresh attachment on substantially identical grounds after the statutory one-year period, as this would defeat the built-in safeguard against misuse. It also held that provisional attachment is only a pre-emptive protective measure and cannot be used as a post-assessment recovery device once assessment has culminated in a final order. The petition was allowed and the attachment was quashed.
A second provisional attachment issued after the earlier order had expired was unsustainable where it rested on the same facts and no change in circumstances was shown. The Court held that Section 83(2) does not permit a fresh attachment on substantially identical grounds after the statutory one-year period, as this would defeat the built-in safeguard against misuse. It also held that provisional attachment is only a pre-emptive protective measure and cannot be used as a post-assessment recovery device once assessment has culminated in a final order. The petition was allowed and the attachment was quashed.
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