Notice u/s.226(3) Income Tax Act for recovery of certain income-tax dues from an individual.

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..... an ITO issued a notice u/s.226(3) of the I.T. Act in connection with the recovery of certain income-tax dues from an individual. The notice did not contain the distinguishing number of Annuity Deposit Certificates held by the deceased holder. The local office of the RBI requested the ITO to incorporate the particulars of the Annuity Deposit Certificates in the notice already served. However, as th .....

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..... notice or in related correspondence. 2. This matter has been examined in the CBDT in consultation with the Department of Economic Affairs. The Board is of the view that it was not proper on the part of the ITO to refuse to supply to the RBI the particulars of Annuity Deposit certificates available with him. It must be remembered that while the provisions of sec.226(3) and of rule 26(i) of the 2n .....

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..... tices u/s.226(3)/ serving attachment orders under rule 26(1) on the RBI or other public financial institutions invariably supply to the institution full information that is available with them. This could be done in the form of a letter addressed to the Reserve Bank/Public financial institutions concerned. In the letter the ITO may specify that while he is giving the details available with him, th .....

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