Wp(C)/25532/2009 Of G.raju v. Asst. Commissioner Of Income Tax And Anr

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.K.ABDUL REHIM WEDNESDAY, THE 23RD SEPTEMBER 2009 / 1ST ASWINA 1931 WP(C).No. 25532 of 2009(J) -------------------------- PETITIONER(S): --------------- G.RAJU, `KARTHIKA', T.C.30/349(2), KALLUMMOODU, ANAYARA P.O., THIRUVANANTHAPURAM. BY ADV. SRI.S.ANIL KUMAR (TRIVANDRUM) SRI.K.S.HARIHARAN NAIR RESPONDENT(S): --------------- 1. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, DEVIKRIPA, PALLIMUKKU, PETTA P.O., THIRUVANANTHAPURAM. 2. COMMISSIONER OF INCOME TAX (CENTRAL), KOCHI. ADV.SRI. JOSE JOSEPH, S.C. FOR INCOME TAX THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 23/09/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.K.ABDUL REHIM, J. ------------------------------ W.P.(C).No.25532 OF 2009 ------------------------------ Dated this the 23[rd] day of September, 2009 J U D G M E N T ---------------------- 1. Petitioner had approached this court aggrieved by Ext.P5 order by which property of 7 Acres Rubber Estatesituated in Mancode Village comprised under Survey Nos:495/1,496/4, 496/5, 496/6, and 496/7 as well as Fixed Depositamounting to Rs.20 lakhs in Canara Bank, Chalai branch,Thiruvananthapuram, were provisionally attached by the 1[st]respondent, pending finalisation of assessment of Income Taxdue with respect to the year 2008-09. It is submitted that duringthe relevant year the petitioner had sale transactions ofimmovable property which will attract considerable amount ofCapital Gain Tax. But according to the petitioner such gainswere deposited in Capital Gain Account and re-invested inpurchasing agricultural lands, and therefore the tax liability willbe reduced considerably. Therefore the attachment isunwarranted and creating severe prejudices. 2.Learned standing counsel appearing for therespondents on instructions submitted that steps have alreadybeen taken to release provisional attachment effected against the Fixed Deposit to the tune of Rs.20 lakhs and the same will bereleased without any further delay. With respect to theprovisional attachment effected against the immovableproperties, the learned counsel appearing for the petitionersubmitted that he is ready and willing to offer another propertysituated at Kadakampally Village in Thiruvananthapuram Districtby way of security, in lieu of the property already attached.Hence he is seeking directions for permitting substitution of thesecurity. It is for the petitioner to approach the 1[st] respondent inthis regard and the 1[st] respondent will consider permittingsubstitution of the security by another immovable property, ifso approached, without any further delay. The writ petition is disposed of with the aboveobservations. C.K.ABDUL REHIM, JUDGE. okb