2017 (3) TMI 1878

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....unt from Capital Gains Accounts.  2. Heard the learned counsel for the petitioner and learned standing counsel appearing for the respondent.  By consent of the learned counsel for the parties, the main writ petition itself is taken up for final disposal at the admission stage itself. 3. The short facts that arise for consideration in this writ petition,   are as follows:- The petitioner is a house wife, aged about 70 years. Her husband namely R. Swaminathan, owned a non residential house, which was alloted to him by the Tamil Nadu Housing Board under lease cum sale agreement. He executed Settlement Deed dated 07.02.2012, registered  as a Document No.400/2012, settling 1/6th share in the said property ....

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....1/6th share and  after claiming exemption under section 54 and 54EC, computed the Income taxable under capital gain at Rs. 2,18,39,865/- and paid the tax of Rs. 43,67,973/-. 5. Since the amounts in the capital gain scheme were not utilized, the petitioner wanted to close the accounts and withdraw the funds  for the purpose of investment in a new house, for which, the petitioner has to get "No Objection Certificate" from the respondent.   Accordingly, she filed an application seeking for issuance of "No Objection Certificate". The respondent, through the impugned communication, dated 19.12.2016 refused to issue "No Objection Certificate" unless, the capital gain tax is paid by the petitioner. 6. The learned counsel ....

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.... 17,25,813/- 6 21000310018033 2,06,57,457/- 7 21000310017708 16,31,190/- 8 21000310017562 13,03,250/-   8. The learned counsel for the respondent submitted that in the very impugned order itself, it is made clear that the "No Objection Certificate" will be issued only on payment of capital gain tax by the petitioner and the petitioner can very well approach the respondent and raise her objections / representations for re-considering the issue. 9. Heard both sides. 10. The petitioner is aggrieved by the order of the respondent in refusing to give "No Objection Certificate" enabling her to withdraw the amount made by way of fixed deposit under the capital gain account. Admittedly, there are eight ....