DALAL B. C. Vs. CUSTODIAN

JUDGEMENT

(1.) The appellant herein is a "notified person" within the meaning of Section 3(2) of the Special Court (Trial of Offences Relating to Transactions in Securities) Act, 1992. His properties are under attachment. There is huge demand of arrears of income tax. The assessments have been made by the assessing officer and also confirmed in appeal by the Commissioner. Further appeals preferred by the appellant are pending before the Tribunal. Out of the several properties under attachment, the following four are proposed to be sold:

(2.) By order dated 17-3-2004, the Special Court has allowed an application filed by the Custodian to sell the property belonging to the appellant. The principal grievance raised in the appeal is that the property should not have been directed to be sold without undertaking an investigation under Section 9-A of the Act.

(3.) This IA has been filed seeking stay on the proposed sale of the properties during hearing of this appeal.