TaxTMI 
TaxTMI 
2016 (3) TMI 593
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.... JUDGMENT ( Per F M Reis, J. ) Both the above Petitions are taken up together as it was not disputed that the points raised therein are similar. 2. Heard Shri S. R. Rivankar, learned Counsel appearing for the Petitioners and Ms. Asha Desai, learned Counsel appearing for the Respondents. 3. Rule. Heard forthwith with the consent of the learned Counsel. Learned Counsel appearing for the Respond....
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....earned Counsel has thereafter taken us through the provisions of Section 22 of the said Act to point out that even for recovery under the Income Tax Act, no coercive action can be taken against the Petitioners without obtaining the permission from the Board for Industrial and Financial Reconstruction(BIFR) in terms of the SICA Act. Learned Counsel further pointed out that in the present case, no s....
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....hat the Petitioners were being registered as a sick unit only recently and the authorities will take necessary consent in terms of Section 22 of the SICA Act. Learned Counsel as such pointed out that the Petitions be rejected. 7. We have considered the submissions of the learned Counsel and we have also gone through the records. On plain reading of the provisions of Section 22 of the SICA, it can....
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.... out in Section 22(1) of the SICA cannot be recovered by coercive process unless the said BIFR gives its consent thereto. That is what the respondents can do in the instant case also, i.e., the respondents can obtain consent from the BIFR for recovery that they propose to make. In view of the above discussion, we grant interim relief restraining the respondent-authorities from acting upon the i....