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2015 (5) TMI 1039 - HC - Income TaxAttachment of refund - Held that:- As the petitioner is furnishing a Bank Guarantee of a Nationalized Bank for an amount of ₹ 105,95,04,390/- to the satisfaction of the Commissioner of Income Tax, the respondents would vacate the attachment of the refund of ₹ 105,95,04,390/- done under Section 281B of the Act. The Bank Guarantee furnished by the petitioner will be kept alive till the final disposal of the reassessment notices for the Assessment year 2008-2009 to 2011-2012 and for eight weeks thereafter. Once the Bank Guarantee in the above terms is furnished to the satisfaction of the Commissioner of Income Tax, Panaji, the Respondents/Revenue will hand over the three refund amounts aggregating to ₹ 105,95,04,390/- to the petitioner within one week thereafter.
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