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 23rd 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 Estate situated in Mancode Village comprised under Survey Nos:495/1, 496/4, 496/5, 496/6, and 496/7 as well as Fixed Deposit amounting to Rs.20 lakhs in Canara Bank, Chalai branch, Thiruvananthapuram, were provisionally attached by the 1st respondent, pending finalisation of assessment of Income Tax due with respect to the year 2008-09. It is submitted that during the relevant year the petitioner had sale transactions of immovable property which will attract considerable amount of Capital Gain Tax. But according to the petitioner such gains were deposited in Capital Gain Account and re-invested in purchasing agricultural lands, and therefore the tax liability will be reduced considerably. Therefore the attachment is unwarranted and creating severe prejudices. 2. Learned standing counsel appearing for the respondents on instructions submitted that steps have already been taken to release provisional attachment effected against W.P.(C).25532/09 2 the Fixed Deposit to the tune of Rs.20 lakhs and the same will be released without any further delay. With respect to the provisional attachment effected against the immovable properties, the learned counsel appearing for the petitioner submitted that he is ready and willing to offer another property situated at Kadakampally Village in Thiruvananthapuram District by way of security, in lieu of the property already attached. Hence he is seeking directions for permitting substitution of the security. It is for the petitioner to approach the 1st respondent in this regard and the 1st respondent will consider permitting substitution of the security by another immovable property, if so approached, without any further delay. The writ petition is disposed of with the above observations. C.K.ABDUL REHIM, JUDGE. okb