R/Special Civil Application v. Assitant Commissioner Of Income Tax ==========================================================

IN THE HIGH COURT OF GUJARAT AT AHMEDABAD R/SPECIAL CIVIL APPLICATION NO. 3832 of 2018 ==========================================================OM SAI DEVELOPERSVersus ASSITANT COMMISSIONER OF INCOME TAX========================================================== Appearance:MR TUSHAR HEMANI WITH MS VAIBHAVI K PARIKH(3238) for the PETITIONER(s) No. 1MR NIKUNT RAVAL WITH MRS KALPANA K RAVAL(1046) for the RESPONDENT(s) No. 2NOTICE SERVED(4) for the RESPONDENT(s) No. 1 ========================================================== CORAM: HONOURABLE MR.JUSTICE AKIL KURESHIandHONOURABLE MR.JUSTICE B.N. KARIA Date : 01/05/2018 ORAL ORDER (PER : HONOURABLE MR.JUSTICE AKIL KURESHI) 1.The petitioner has filed this petition solely for the purpose of getting installments for payment of tax dues. The petitioner is not disputing the tax liability but, contends that due to the lean phase of business in real estate, he is unable to pay sizeable amount of tax demand raised by the Department in one go. 2.While issuing Notice on 12.03.2018, we had put two conditions on the petitioner for the grant of stay against recoveries. One was that the petitioner should deposit a sum of Rs.50.00 C/SCA/3832/2018 ORDER Lakhs before the Department within the time specified and second was that the petitioner makes a declaration that it owns immovable properties, which are clear in title in all respects and the value of which exceeds the unpaid dues of the petitioner and that the petitioner will not create any charge on such property, without the leave of the Court. 3.We are informed that the petitioner has fulfilled the conditions. The petitioner further deposited a sum of Rs.50.00 Lakhs, as provided in the order dated 12.08.2017. The petitioner’s outstanding dues remained at Rs.1.64 Crores (rounded off). 4.Considering the facts and circumstances of the case, the petitioner is allowed time upto 30[th ]October 2018 to clear the entire dues with further accruing interest as per the statutory provisions in six monthly installments beginning with May 2018 to be paid on or before the 15[th] of the month. The last installment shall take care of the interest component. The earlier condition of not creating any charge on the declared properties will continue till the dues are cleared. If there is any default in payment of any of the installments, at the end of the month C/SCA/3832/2018 ORDER when such default may have taken place, it would be open to the Department to re-start the recoveries. The petition stands disposed of accordingly. (AKIL KURESHI, J) PRAVIN KARUNAN (B.N. KARIA, J)