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2011 DIGILAW 1791 (MAD)

Mincore Resources (P) Limited, represented by its Director, Mr. Syed Ibunu Moulana v. Assistant Commissioner of Income Tax Company Circle IV (3)

2011-03-29

M.JAICHANDREN

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Judgment :- 1. Heard the learned counsel appearing on behalf of the petitioner and the learned counsel appearing on behalf of the respondents 1 and 2. 2. In view of the averments made in the affidavit filed in support of the writ petition and in view of the submissions made by the learned counsels appearing on either side, this Court finds it appropriate to direct the second respondent to hear and dispose of the stay petition filed by the petitioner, on 18.02.2011, in I.T.A.No.2044 of 2011, within a period of two weeks from the date of receipt of a copy of this order. Until an order is passed by the second respondent, in the stay petition, as directed above, the attachment of the bank account of the petitioner, in the third respondent bank, shall continue. It is also made clear that the first respondent shall not appropriate the amount lying in the said account of the petitioner, in the third respondent bank, pursuant to the impugned notice of the first respondent, dated 10.03.2011, issued under Section 226 (3) of the Income Tax Act, 1961. This Writ petition is ordered accordingly. No costs. Consequently, connected Miscellaneous petition is closed.