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2018 (10) TMI 1454 - GUJARAT HIGH COURTValidity of provisional orders of attachment - attachment of petitioner's factory premises, stock and bank accounts - alleged large scale bogus billing activities - Held that:- At the prima facie stage, the department contends strongly that the petitioner has indulged into revenue defalcation. Possible tax and penalty liabilities are substantial. At the same time, it is not disputed that the petitioner is also involved in legitimate business activities. By freezing the petitioner's bank accounts and attaching the properties, the petitioner is temporarily rendered penalized. The petitioner cannot operate the business, cannot move the stock and cannot make payments. Provisional attachments suspended subject to fulfillment of certain conditions - petition disposed off.
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