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2022 (4) TMI 1449 - HC - Income TaxAttachment of bank accounts as well as trade receivables - orders passed u/s 132 (9B) - HELD THAT:- Petitioner has not granted access to its books of accounts to the officials of the respondents and has repatriated Rs.750 crores to its holding company in the last year. Respondents have been granted complete access to the Company’s Accounting Enterprise Planning (ERP) system. He states that ERP system is a primary source of transaction undertaken by the Petitioner and comprises of data pertaining to ledger accounts, expenditure, remittances, receivables, payables, related party transactions, fixed assets, etc. States that due to the impugned orders, the Petitioner has defaulted in making payment of statutory dues like GST and TDS. He also states that the Petitioner has not been able to pay salary to its 400 (approx.) permanent employees and 190 contractual employees as well as clear dues of its vendors/ suppliers. This Court is of the view that the present matter requires a detailed examination. Petitioner shall prepare a Fixed Deposit Receipt of Rs.100 crores in DBS Bank Account No.820200251860, which shall be renewed automatically from time to time. A photocopy of the said FDR shall be filed with the Assessing Officer within a week. The Banker is also directed to ensure that the Petitioner and/or any of its officials/nominees/authorised representatives do not deal with the FDR in any manner. Respondents are directed not to release any refund [which is stated to be to the tune of Rs.30 crores (approx.)] to the Petitioner till further orders.
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