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2002 (10) TMI 6 - BOMBAY HIGH COURTSearch and seizure u/s 132 - encashment of FDs – attachment under section 132(3) - Under the prohibitory orders, the bank accounts were attached, bonds were seized and FDs were also seized. However, during the period March to May 2002, respondent No. 1 encashed the FDs and Rs. 72,40,330 from the bank account of the petitioner – Held that action of respondent No.1 vis-à-vis appropriation was high handed. It is not supported by any provisions of the Income-tax Act, particularly when the appropriation is sought to be made without the assessment order - respondent No. 1 had no authority to encash the FDs or withdraw the cash, from the bank accounts without the order of assessment
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