Hc Refuses To Strike Down Attachment Of Swamis Property

The Delhi High Court yesterday disposed of two writ petitions filed by the Vishwa Dharmayatana Trust, of which the self-styled godman Chandraswami is a trustee, seeking the quashing of the provisional attachment of the trusts assets by the Income-Tax authorities.

A division bench consisting of Justice Y K Sabharwal and Justice D K Jain disposed of the two petitions after counsel of both parties came to an agreement that the provisional attachment of the assets, including the plush Vishwa Dharmayatana Ashram in south Delhi and bank accounts and fixed deposit receipts worth over Rs 1.1 crore, would continue.

However, the Income-Tax department agreed that the trust would be entitled to withdraw the interest which may accrue on the attached receipts and utilise the money for its day-to-day activities.

The department also agreed to release two accounts of the trust in the Central Bank of India and the Bank of Rajasthan. It was also agreed that the trust would be allowed to renew the deposit receipts from time to time during the period of attachment. The court observed that the receipts would not be encashed.

The bench said that it was disposing of the two writ petitions challenging the Income-Tax departments orders of October and November 1996 provisionally attaching the assets of the trust pending the assessment of its income for the past two years.

While the trust was represented by senior counsel CS Aggarwal along with counsel Anil Sharma and Pradeep Shrivastava, the Income-Tax department was represented by senior standing counsel S Pandey and counsel Premalata.

image
Business Standard
177 22
Business Standard

Hc Refuses To Strike Down Attachment Of Swamis Property

BSCAL 



The Delhi High Court yesterday disposed of two writ petitions filed by the Vishwa Dharmayatana Trust, of which the self-styled godman Chandraswami is a trustee, seeking the quashing of the provisional attachment of the trusts assets by the Income-Tax authorities.

A division bench consisting of Justice Y K Sabharwal and Justice D K Jain disposed of the two petitions after counsel of both parties came to an agreement that the provisional attachment of the assets, including the plush Vishwa Dharmayatana Ashram in south Delhi and bank accounts and fixed deposit receipts worth over Rs 1.1 crore, would continue.

However, the Income-Tax department agreed that the trust would be entitled to withdraw the interest which may accrue on the attached receipts and utilise the money for its day-to-day activities.

The department also agreed to release two accounts of the trust in the Central Bank of India and the Bank of Rajasthan. It was also agreed that the trust would be allowed to renew the deposit receipts from time to time during the period of attachment. The court observed that the receipts would not be encashed.

The bench said that it was disposing of the two writ petitions challenging the Income-Tax departments orders of October and November 1996 provisionally attaching the assets of the trust pending the assessment of its income for the past two years.

While the trust was represented by senior counsel CS Aggarwal along with counsel Anil Sharma and Pradeep Shrivastava, the Income-Tax department was represented by senior standing counsel S Pandey and counsel Premalata.

RECOMMENDED FOR YOU

Hc Refuses To Strike Down Attachment Of Swamis Property

Hc Refuses To Strike Down Attachment Of Swamis Property

The Delhi High Court yesterday disposed of two writ petitions filed by the Vishwa Dharmayatana Trust, of which the self-styled godman Chandraswami is a trustee, seeking the quashing of the provisional attachment of the trusts assets by the Income-Tax authorities.

A division bench consisting of Justice Y K Sabharwal and Justice D K Jain disposed of the two petitions after counsel of both parties came to an agreement that the provisional attachment of the assets, including the plush Vishwa Dharmayatana Ashram in south Delhi and bank accounts and fixed deposit receipts worth over Rs 1.1 crore, would continue.

However, the Income-Tax department agreed that the trust would be entitled to withdraw the interest which may accrue on the attached receipts and utilise the money for its day-to-day activities.

The department also agreed to release two accounts of the trust in the Central Bank of India and the Bank of Rajasthan. It was also agreed that the trust would be allowed to renew the deposit receipts from time to time during the period of attachment. The court observed that the receipts would not be encashed.

The bench said that it was disposing of the two writ petitions challenging the Income-Tax departments orders of October and November 1996 provisionally attaching the assets of the trust pending the assessment of its income for the past two years.

While the trust was represented by senior counsel CS Aggarwal along with counsel Anil Sharma and Pradeep Shrivastava, the Income-Tax department was represented by senior standing counsel S Pandey and counsel Premalata.

image
Business Standard
177 22

More News

  • India's GDP numbers for first quarter later on Wednesday India's GDP numbers for first quarter later on Wednesday
  • Anil Agarwal Odisha to offer bauxite for Lanjigarh refinery by March 2017: Anil Agarwal
Widgets Magazine

Widgets Magazine

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard