2019 (4) TMI 518

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.... under Section 132(9B) of the Income Tax Act, 1961 ("the Act" for short) has provisionally attached the petitioner's two immovable properties as well as certain bank accounts in Kotak Mahindra Bank, Central Bank of India and Yes Bank. The details of immovable properties attached are as under:-   1. Residential Flat at 10-A, Jivan, 11, L.D. Ruparel Marg, Malabar Hill, Mumbai - 400 006; 2. Residential Flat at 8-C, Somerset Palace, 61 D, Bhulabai Desai Marg, Mumbai - 400 026. 2. This action the said Authority has taken pursuant to search conducted under Section 132 of the Act at the premises of the petitioner during which the department collected material to prima facie suggest that the petitioner has sizable interest income as w....

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....ttached by the Income Tax Department is more than enough to cover for all possible tax, interest and penalty which may eventually arise even if all the defences of the petitioner are negatived. Learned counsel for the petitioner, therefore, argued that continuing the attachment on these immovable properties, the attachment of the bank accounts be lifted. He submitted that the petitioner himself is aged about 65 years, needs funds for his day to day expenses as well as medical treatment. The petitioner's mother is aged about 94 years and she is a heart patient. Her medical treatment requires constant expenses. It is pointed out that the total balance attached in the bank accounts comes to approximately Rs. 3 Crores. 5. On the other hand, ....

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....ollected during the search and has formulated a prima facie belief that the petitioner has undisclosed income as well as undisclosed foreign investment. In order to protect the interest of the Revenue, therefore, the petitioner's bank accounts and two immovable properties have been put under provisional attachment. By such action, the Department has virtually prevented the petitioner for accessing his own funds in the bank accounts which would undisputedly cause great difficulty to the petitioner in meeting his day to day expenses, to meet with special requirements for medical attention for himself and his aged mother. While, therefore, without harming the interest of the Revenue, we would like to give limited relief to the petitioner again....