Form No. I.T.C.P. 4
[See rule 26(1)(ii) of the Second Schedule to the Income-tax Act, 1961]
Prohibitory order where the property consists of shares in a corporation
Office of the Tax Recovery Officer,
To
[Principal Officer]
…………………..
[Name of corporation]
*Whereas………………….[defaulter] has failed to pay the arrears due from him in respect of certificate No…………….dated…………….drawn up by the undersigned,..................., amounting to Rs………………and the interest payable under section 220(2) of the Income-tax Act, 1961, for the period commencing immediately after the said date;
*Whereas…………………[defaulter] had failed to pay the arrears due from him in respect of certificate No…………dated…………….forwarded by the Tax Recovery Officer,………………, to the undersigned,………………, amounting to Rs…………… and the interest payable under section 220(2) of the Income-tax Act, 1961; and whereas the said Tax Recovery Officer has sent to the undersigned a certified copy of the said certificate under section 223(2) of the said Act specifying that an amount of Rs………………is to be recovered from the defaulter;
It is ordered that you, No. (1) abovementioned, be, and you are hereby, prohibited and restrained, until the further order of the undersigned, from making any transfer of the shares in the aforesaid corporation standing in your name or from receiving payment of any dividends thereon. † It may be noted that the property consisting of shares is included in the defaulter’s property by virtue of the Explanation to sub-section (1) of section 222 of the Income-tax Act, 1961.
And, that you, No. (2) abovementioned, are hereby prohibited and restrained, until the further order of the undersigned, from permitting any such transfer or making any such payment.
Given under my hand and seal at……………this…………….day of ……………
(SEAL) Tax Recovery Officer
*Score out whichever paragraph is not applicable.
†Score out portion in italics, if not applicable.
