https://www.taxtmi.com/caselaws?id=302323 Rule 68-B of the Second Schedule to the Income-tax Act bars sale of attached immovable property after three years from the end of the financial year in which the demand became final, subject only to the rule's specified exclusions. As no sale was undertaken within the prescribed limitation period and the Revenue's stated reasons for delay did not extend time, the attachment could not continue to subsist. The consequential encumbrance entry was therefore also liable to be removed, and the impugned attachment and encumbrance proceedings were quashed with a direction to delete the encumbrance. en-us Tue, 25 Apr 2017 00:00:00 +0530 Mon, 16 May 2022 20:58:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302323 Rule 68-B of the Second Schedule to the Income-tax Act bars sale of attached immovable property after three years from the end of the financial year in which the demand became final, subject only to the rule's specified exclusions. As no sale was undertaken within the prescribed limitation period and the Revenue's stated reasons for delay did not extend time, the attachment could not continue to subsist. The consequential encumbrance entry was therefore also liable to be removed, and the impugned attachment and encumbrance proceedings were quashed with a direction to delete the encumbrance. Case-Laws Income Tax Tue, 25 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302323