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2013 (6) TMI 258 - HC - Income TaxProvisional attachment u/s 281B - held that:- The bank accounts of an assessee are provisionally attached to secure the interest of the Revenue pending assessment pro-ceedings to meet the eventuality of demand of tax to be raised against such assessee. Once the assessment has been completed, the Revenue would be justified to attach the account to the extent of demand raised against an assessee and not the entire amount standing to the credit of the assessee. We find that the action of the Revenue in extending the period of attachment in respect of the all the bank accounts of the petitioner and in respect of over ₹ 33 lakhs in these circumstances is wholly unjustified and illegal. Revenue directed to release provisional attachment except to the extent of tax demand raised against the petitioner. Such tax demand shall not be realized till such time, the appeal filed by the assessee is not decided by the competent authority. - Decided in favor of assessee.
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