https://www.taxtmi.com/caselaws?id=13999 The HC of MADRAS ruled that Rule 68B in Schedule II of the Income-tax Act, 1961, mandates a strict period for the Revenue to conduct the sale of attached property for tax recovery. Failure to adhere to this timeline renders any sale illegal and void. The court emphasized that postponements cannot extend the limitation period, and both the defaulter and the Revenue must comply with the rule's rigidity. In the specific case reviewed, the court declared the issuance of new proclamations and the vacation of attachment due to non-compliance with the prescribed period, underscoring the necessity for prompt tax recovery actions. en-us Fri, 09 Mar 2001 00:00:00 +0530 Sat, 21 Dec 2024 10:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13999 The HC of MADRAS ruled that Rule 68B in Schedule II of the Income-tax Act, 1961, mandates a strict period for the Revenue to conduct the sale of attached property for tax recovery. Failure to adhere to this timeline renders any sale illegal and void. The court emphasized that postponements cannot extend the limitation period, and both the defaulter and the Revenue must comply with the rule's rigidity. In the specific case reviewed, the court declared the issuance of new proclamations and the vacation of attachment due to non-compliance with the prescribed period, underscoring the necessity for prompt tax recovery actions. Case-Laws Income Tax Fri, 09 Mar 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13999