2012 (9) TMI 160

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....ard the learned counsel appearing for the petitioner, as well as the learned counsel appearing on behalf of the respondents.   2. It has been stated that the petitioner had filed the return of income, for the assessment year 2009-2010, on 9.11.2010, admitting a total income of Rs.1040/- and it had been processed, under Section 143(1) of Income Tax Act, 1961. Subsequently, the case of the p....

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.... the certificate issued by the Village Administrative Officer and the other evidence placed before him, had completed the assessment, under Section 143(3) of the Income Tax Act, 1961, raising a demand of Rs.49,52,600/-, by his order, dated 26.12.2011, assessing the total income at Rs.1,48,18,510/-. Aggrieved by the said assessment order the petitioner had preferred a statutory appeal before the Co....

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....n, reported in Soul Vs. Deputy Commissioner of Income Tax [2010] 323 ITR 305.   5. At this stage of the hearing of the writ petition the learned counsel appearing on behalf of the petitioner had submitted that his bank account in the State Bank of India, Anna Nagar Branch, bearing Account No.10299780299, had been attached, pursuant to the assessment order passed by the second respondent, d....

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.... gains, arising out of the sale of agricultural lands. He had also submitted that the petitioner had received the sale consideration, in respect of the lands sold and he had earned capital gains of Rs.1,48,18,510/- and therefore, he is not entitled to plead financial hardship, while praying for an order of interim stay of the assessment order, dated 26.12.2011.   7. In view of the submissi....