Wp(C)/13530/2017 Of Tamilnad Mercantile Bank Ltd v. The Assistant Commissioner Of Income Tax

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE DAMA SESHADRI NAIDU TUESDAY ,THE 12TH DAY OF FEBRUARY 2019 / 23RD MAGHA, 1940 WP(C).No. 13530 of 2017 PETITIONER: TAMILNAD MERCANTILE BANK LTD.REPRESENTED BY ITS CHIEF MANAGER,ERNAKULAM BRANCH, AND POWER OF ATTORNEY HOLDER,K. VENKADESAN, S/O.KUMARA SWAMY,D.NO. 64/3334 A, CHITTOOR ROAD,KACHERIPADY, ERNAKULAM, KOCHI 682018 BY ADV. SRI.V.V.SURENDRAN RESPONDENT/S: 1THE ASSISTANT COMMISSIONER OF INCOME TAXCIRCLE 2 (2) CR BUILDING,IS PRESS ROAD, KOCHI 682018CIRCLE 2 (2) CR BUILDING,IS PRESS ROAD, KOCHI 682018 2V.P. RASHEEDM/S.E ORIENTAL TIMERS,KAVYA MAHAL, OPP. CHAITHANYA MARBLES,N.H. BYE PASS, EDAPPALLY 682024 BY ADVS.SRI.M.T.AJITHSMT.SAJITHA GEORGESRI.SHAIJAN C.GEORGE OTHER PRESENT: SC SRI. CHRISTOPHER ABRAHAM THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON12.02.2019, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: JUDGMENT The petitioner bank suffered provisional attachment under Section 281B of the Income Tax Act. Contending that the attachment continued——beyond two yearsthat is, the statutorily permitted periodthepetitioner has filed this writ petition. 2. The petitioner's counsel has brought to my notice not only Section 281B of the Income Tax Act but also Section 31B of theSecuritisation and Reconstruction of Financial Assets and Enforcementof Securities Interest Act, 2002 (the SARFAESI Act). Thus he contendsthat the prolonged provisional attachment cannot be sustained. 3. The learned Standing Counsel has, however, fairly submitted that the attachment, by efflux of time, ceased long back. According to him,there had been no attachment, provisional or otherwise, even before thepetitioner filed this writ petition. 4. In this context the petitioner's counsel wants the respondentDepartment to intimate the registration authorities about the ceasedattachment. Under these circumstances, I record the submissions made by thelearned Standing Counsel for the respondent Department that the provisional attachment against the petitioner's secured assets no longersubsists. As to the intimation to the registration authorities, thepetitioner can produce a copy of this judgment before them as a judicialassertion that there is no attachment in force. Thus, the writ petitionstands disposed of. Sd/- DAMA SESHADRI NAIDU JUDGE APPENDIX PETITIONER'S/S EXHIBITS: EXHIBIT P1 A TRUE COPY OF THE PROVISIONAL ATTACHMENT ORDER DATED 27.11.2013ORDER DATED 27.11.2013 EXHIBIT P2 A TRUE COPY OF THE PROVISIONAL ATTACHMENT ORDER DATED 27.11.2013ORDER DATED 27.11.2013 EXHIBIT P3A TRUE COPY OF THE PROVISIONAL ATTACHMENT ORDER DATED 27.11.2013ORDER DATED 27.11.2013 EXHIBIT P4A TRUE COPY OF THE PROVISIONAL ATTACHMENT ORDER DATED 27.11.2013ORDER DATED 27.11.2013 EXHIBIT P5A TRUE COPY OF THE PROVISIONAL ATTACHMENT ORDER DATED 27.11.2013ORDER DATED 27.11.2013 EXHIBIT P6TRUE COPY OF THE LETTER ISSUED BY THE PETITIONER DATED 24.12.2013PETITIONER DATED 24.12.2013 EXHIBIT P7TRUE COPY OF THE COMMUNICATION EXTENDING ATTACHMENT DATED 22.07.2014ATTACHMENT DATED 22.07.2014 EXHIBIT P8TRUE COPY OF THE REPRESENTATION BY 2ND RESPONDENT TO THE DIRECTOR GENERAL OF INCOME TAX DATED 14.08.2014RESPONDENT TO THE DIRECTOR GENERAL OF INCOME TAX DATED 14.08.2014 EXHIBIT P9A TRUE COPY OF THE REPRESENTATION BY 2ND RESPONDENT TO COMMISSIONER OF INCOME TAX DATED 14.08.2014RESPONDENT TO COMMISSIONER OF INCOME TAX DATED 14.08.2014 EXHIBIT P10TRUE COPY OF THE EXTENSION ORDER DATED 26.05.201526.05.2015 EXHIBIT P11TRUE COPY OF THE PROVISIONAL ATTACHMENT ISSUED BY DEPUTY COMMISSIONER OF INCOME TAXDATED 23.03.2015ISSUED BY DEPUTY COMMISSIONER OF INCOME TAXDATED 23.03.2015 Css/