​Auction Sale of Immovable Property by T.R.O.(Assmt.)-2 Indore Fixed for 24-01-2018

FORM NO. I.T.C.P. 13 [See rule 38 and rule 52(2) of the second Schedule to the Income-tax Act,1961] Proclamation of sale Office of the Tax Recovery Officer-2, Aayakar Bhavan,Room No.16, (Main) Opp. White Church, Indore. * Whereas the [undersigned has drawn up ] the certificate No…-..31/10/2002 for the recovery of the sum of Rs.2.78 crores from Shri Ashwin Kumar Kataria Prop. M/s. A. K. Industries Kataria Pandhan Road, Khandwa (Alternative address at Shantivihar Koteshwar Road, Behind TV Tower, Akola( Maharastra) PIN-444001) [defaulter] which sum recoverable together with interest in accordance with section 220(2) of the Incometax Act, 1961[***] and the costs, charges and expenses of the proceedings for the recovery thereof. * Whereas the [Tax Recovery Officer]-----------------------had forwarded the certificate No…………..dated……………..to the undersigned………………..for the recovery of the sum of Rs. 2.78 crores from Shri Ashwin Kumar Kataria Prop. M/s. A. K. Industries Kataria Pandhan Road, Khandwa and whereas the said Tax Recovery Officer has sent to the [defaulter] undersigned on the …………..day of…….19………a certified copy of the certificate under section 223(2) of the Income-tax Act, 1961, specifying that an amount of Rs. 2.78 crores is to be recovered from the defaulter, which sum is recoverable together with interest in accordance with section 220(2) of the said Act [***] and the costs, charges and expenses of the proceedings for the recovery thereof and whereas the undersigned has ordered the sale of the attached property mentioned in the annexed schedule in satisfaction of the said certificate. And whereas on the 24th day of January, 2018 ( the date fixed for the sale) there will be due there under a sum of Rs. 2.78 crores plus cost and interest. Notice is hereby given that, in the absence of any order of postponement, the said property shall be sold by TRO-(Assessment)-2, Indore by public auction at 11.30 A.M.. on the said date 24th day of January, 2018 at the office premise O/o the Income-tax Officer, Aayakar Bhawan, Civil Lines, Khandwa, [Place] The sale will be of the property of the above named defaulter /+property which is included in the property of the defaulter by virtue of the Explanation to sub-section (1) of section 222 of the Income-tax Act, 1961 as mentioned in the schedule below, and the liabilities and claims attaching to the said property, so far as they have been ascertained, are those specified in the schedule against each lot. The property will be put up for sale in the lots specified in the schedule. If the amount to be realized by sale is satisfied by the sale of a portion of the property, the sale shall be immediately stopped with respect to the reminder. The sale will also be stopped if, before any lot is knocked down, the arrears mentioned in the said certificate + interest payable under section 220(2) of the Income-tax Act, 1961, and costs (including the costs of the sale) are tendered to the officer conducting the sale or proof is given to his satisfaction that the amount of such arrears, interest and costs has been paid to the undersigned. At the sale, the public generally are invited to bid either personally or by duly authorized agent. No Officer or other person, having any duty to perform in connection with this sale shall,however, either directly or indirectly bid for, acquire or attempt to acquire any interest in the property sold. The sale shall be subject to the condition prescribed in the Second Schedule to the Income-tax Act,1961, and the rules made there under and to the following further conditions:- (i) The particulars specified in the annexed schedule have been stated to the best of the information of the undersigned, but the undersigned shall not be answerable for any error, mis- statement or omission in this proclamation. (ii) The reserve price below which the property shall not be sold is Rs. 2,43,95,000/-. (iii) The amounts by which biddings are to be increased shall be determined by the officer conducting the sale. In the event of any dispute arising as to the amount bid, or as to the bidder, the lot shall at once be again put up to auction. (iv) The higher bidder shall be declared to be the purchaser of any lot provided always that he is legally qualified to bid and provided further that * the amount bid by him is not less than the reserve price * it shall be in the direction of the undersigned to decline acceptance of the highest bid when the price offered appears so clearly inadequate as to make it inadvisable to do so. (v) For reasons recorded, it shall be in the direction of the officer conducting the sale to adjourn it subject always to the provisions of the Second Schedule to the Income-tax Act,1961. (vi) In the case of movable property, the price of each lot shall be paid at the time of sale or as soon after as the officer holding the sale directs, and in default of payment, the property shall forthwith be again put up and resold. (vii) In the case of immovable property, the person declared to be the purchaser shall pay immediately after such declaration, a deposit of twenty-five percent on the amount of his purchase money to the officer conducting the sale and, in default of such deposit, the property shall forthwith be put up again and resold. The full amount of the purchase money payable shall be paid by the purchaser to the undersigned on or before 15th day from the date of the sale property, exclusive of the such day, or if the 15th day be a Sunday or other holiday, then on the first office day after the 15th day. In default of payment within the period mentioned above, the property shall be resold, after issue of fresh proclamation of sale. The deposit, after defraying the expenses or the sale, may , if the undersigned thinks fit, be forfeited to the Government and the defaulting purchaser shall forfeit all claims to the property or to any part of the sum for which it may subsequently be sold. SCHEDULE OF PROPERTY 1. Factory Building and land appurtenant thereto, situated at Khasra No. 864/12 at Patwari Halka No. 80, admeasuring 0.405 hectares at Pandhana Road, Khandwa, (M.P.). Given under my hand and seal at Indore, this 20th day of December,2017. (Seal) (SREEJA ANILKUMAR) Tax Recovery Officer (Assessment-2), I N D O R E.SCHEDULE OF PROPERTY in the case of Shri Ashwin Kumar Kataria, S/o Shri Jhawarilal Kataria, Prop. M/s. A.K. Industries, Pandhana Road, Khandwa. No. of lots Description of Revenue Details of any Claim, if any, property to be assessed encumbrances which have sold with the upon the to which the been put name of the property property is forward to other co-owners of any part liable the property, where the thereof and any other property belongs known to the defaulter particulars and any other bearingon its person as co- nature and owners value 1 2 3 4 5 Factory shed Khasra No. - - - and land 864/12 at appurtenant Patwari Halka thereto No. 80 at including the Pandhana Road, whole Khandwa premise admeasuring 0.405 hectares i.e. one acre approx. 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WHITE CHURCH, A.B. ROAD, INDORE Auction Sale It is brought to the notice of public in general that auction proceedings have been initiated in the case of Shri Ashwin Kumar Kataria, Proprietor M/s. A.K. Industries, Pandhana Road, Khandwa (Near Mayur Industries) as the assessee has failed to pay the outstanding demand of tax amounting to Rs. 2.78 crore approx. [i.e. Rupees two crores, seventy eight lakhs only] and further interest and costs. The property specified hereunder has been firstly attached on 28.11.2002 as per the provisions of Rule 48 of Schedule II of the Income tax Act, 1961. Auction by sale of the aforesaid attached property has been fixed for 24.01.2018 at 11.30 AM at the premises of Aayakar Bhawan, Civil Lines, Khandwa (M.P.). The prospective bidders who want to participate in the aforesaid auction are required to deposite the earnest money of Rs. 25,000/- in the form of Account Payee Demand Draft of any Nationalised Bank in favour of Income tax Department, Indore before the undersigned at the Auction Premises [i.e. Aayakar Bhawan, Civil Lines, Khandwa (M.P.).] before one hour of the commencement of auction, positively, or the earnest money can also be deposited before the undersigned at the office of Tax Recovery Officer, Room No. 16, Aayakar Bhawan, Main, Opposite White Church Road, Indore on or before 18.01.2018. The terms and conditions of the aforesaid Auction and other information can be collected from the office of the Income tax Officer-1, Civil Lines, Khandwa or from the office of the Tax Recovery Officer (Assessment)-2, Room No. 16, Aayakar Bhawan, Main, Opp. White Church Road, Indore. Details of Immovable Area Reserve Price Earnest Money to Property participate in the Auction One factory shed and Khasra No. 864/12 2]48]95]000@ 25]000@& land appurtenant (Patwari Halka No. 80) thereto including the admeasuring 1 acre i.e. whole premises (in the 0.405 hectares. way as it is placed) For further information, pleae contact Shri D.R. Charawande, Tax Recovery Inspector at Mobile No. 9406718273 (Sreeja Anilkumar) Tax Recovery Officer (Assessment)-2, INDORE.