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2015 (6) TMI 327 - BOMBAY HIGH COURT

2015 (6) TMI 327 - BOMBAY HIGH COURT - TMI - Attachment of the refund done under Section 281-B - Held that:- Petitioners furnishing a Bank Guarantee of a Nationalised Bank for an amount of ₹ 28,79,81,050 to the satisfaction of the Commissioner of Income Tax, the Respondent would vacate the attachment of the refund of ₹ 28,79,81,050 done under Section 281-B of the Act. It is made clear that the Petitioners will keep the Bank Guarantee alive till the final disposal of the re-assessment .....

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- 7-5-2015 - F M Reis And M S Sanklecha, JJ. For the Appellant : Mr R G Ramani, Adv. For the Respondent : Mr Asha Desai, Adv. JUDGMENT (Per M S Sanklecha,J. ) Rule. Returnable forthwith. Ms. Desai, learned Counsel for the Revenue waives service. At the request of the Counsel, the Petition is taken up for final disposal. 2. This Petition challenges the Order dated 19.12.2014 issued under Section 281-B of the Income Tax Act, 1961, (the Act). By the impugned Order, a refund of ₹ 28,79,81,050 .....

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