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The I-T department’s warning comes as the Karnataka’s Debt Recovery Tribunal-II published a sale proclamation stating that e-auction of 41.52 lakh shares will be held on October 30 this year.
“This is to bring to the notice of the public that the Income Tax department has already created charge against the said shares on account of outstanding demand.
Therefore, suchsale/transfer of these shares will be void in terms of Section 281 of the Income Tax Act.
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