Kerala High Court
Tamilnad Mercantile Bank Ltd vs The Assistant Commissioner Of Income ... on 12 February, 2019
Author: Dama Seshadri Naidu
Bench: Dama Seshadri Naidu
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:
1 THE ASSISTANT COMMISSIONER OF INCOME TAX
CIRCLE 2 (2) CR BUILDING,IS PRESS ROAD,
KOCHI 682018
2 V.P. RASHEED
M/S.E ORIENTAL TIMERS,KAVYA MAHAL, OPP. CHAITHANYA
MARBLES,N.H. BYE PASS, EDAPPALLY 682024
BY ADVS.
SRI.M.T.AJITH
SMT.SAJITHA GEORGE
SRI.SHAIJAN C.GEORGE
OTHER PRESENT:
SC SRI. CHRISTOPHER ABRAHAM
THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON
12.02.2019, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WPC No.13530 of 2017 2
JUDGMENT
The petitioner bank suffered provisional attachment under Section 281B of the Income Tax Act. Contending that the attachment continued beyond two years--that is, the statutorily permitted period-- the petitioner 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 the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (the SARFAESI Act). Thus he contends that 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 the petitioner filed this writ petition.
4. In this context the petitioner's counsel wants the respondent Department to intimate the registration authorities about the ceased attachment.
Under these circumstances, I record the submissions made by the learned Standing Counsel for the respondent Department that the WPC No.13530 of 2017 3 provisional attachment against the petitioner's secured assets no longer subsists. As to the intimation to the registration authorities, the petitioner can produce a copy of this judgment before them as a judicial assertion that there is no attachment in force. Thus, the writ petition stands disposed of.
Sd/-
DAMA SESHADRI NAIDU JUDGE WPC No.13530 of 2017 4 APPENDIX PETITIONER'S/S EXHIBITS:
EXHIBIT P1 A TRUE COPY OF THE PROVISIONAL ATTACHMENT ORDER DATED 27.11.2013 EXHIBIT P2 A TRUE COPY OF THE PROVISIONAL ATTACHMENT ORDER DATED 27.11.2013 EXHIBIT P3 A TRUE COPY OF THE PROVISIONAL ATTACHMENT ORDER DATED 27.11.2013 EXHIBIT P4 A TRUE COPY OF THE PROVISIONAL ATTACHMENT ORDER DATED 27.11.2013 EXHIBIT P5 A TRUE COPY OF THE PROVISIONAL ATTACHMENT ORDER DATED 27.11.2013 EXHIBIT P6 TRUE COPY OF THE LETTER ISSUED BY THE PETITIONER DATED 24.12.2013 EXHIBIT P7 TRUE COPY OF THE COMMUNICATION EXTENDING ATTACHMENT DATED 22.07.2014 EXHIBIT P8 TRUE COPY OF THE REPRESENTATION BY 2ND RESPONDENT TO THE DIRECTOR GENERAL OF INCOME TAX DATED 14.08.2014 EXHIBIT P9 A TRUE COPY OF THE REPRESENTATION BY 2ND RESPONDENT TO COMMISSIONER OF INCOME TAX DATED 14.08.2014 EXHIBIT P10 TRUE COPY OF THE EXTENSION ORDER DATED 26.05.2015 EXHIBIT P11 TRUE COPY OF THE PROVISIONAL ATTACHMENT ISSUED BY DEPUTY COMMISSIONER OF INCOME TAX DATED 23.03.2015 Css/