2019 (12) TMI 508

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....hardwaj, Advocate for the petitioner Mr. Rajesh Katoch, Sr. Standing counsel with Ms. Pridhi Jaswinder Sandhu, Advocate for the applicants-respondent ORDER Ajay Tewari, J. ( Oral ) CM-18132-2019 in CWP-32683-2019 This is an application seeking exemption from filing certified copy of Annexure R-1 and permission to file true copy thereof. For the reasons recorded in the application, the same is allowed. CM-18137-2019 in CWP-31069-2019 This is an application seeking exemption from filing certified copy of Annexure R-6 and permission to file true copy thereof. For the reasons recorded in the application, the same is allowed. CM-18141-2019 in CWP-32702-2019 This is an application seeking exemption from filing cer....

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....d provisional attachment of property was sought. As per the proposal for provisional attachment the Deputy Commissioner Income Tax mentioned that a sum of Rs. 22 crores odd was unaccounted under different heads (in all the three petitions). The precise grievance of the petitioners is that on this material its entire stock in trade of 1300 flats which are in various stages of the development could not be provisionally attached However, by the provisional attachment order great prejudice has been caused to the petitioners. Even those flats which were fully paid cannot be transferred; those allottees who were paying installments have stopped paying the same; some allottees have dragged the petitioners to Real Estate Regulatory Authori....

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....letion of the assessment. In our opinion, it is a stark case. Is the Revenue ultimately going to end up killing the goose which may lay a golden egg ? By the time the Revenue in its own leisurely manner and its own leisurely pace finalize the assessment, there is a strong possibility that all the assets may become compromised. There may be different orders passed by the RERA, by the Insolvency Court and under the Securitization provisions; and all because even after one year and the material mentioned above the Revenue is not able to quantify even the tentative amount which may be involved. We are inclined to allow these petitions on these grounds but we deem it appropriate to give 10 days more time to Revenue to work out some figu....