Provisional attachment in Fake Invoice cases

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..... sessee, if necessary, in order to protect the interest of revenue. This can be done only with prior approval of Pr. Chief Commissioner or Pr Director General or Chief Commissioner or Director General or Principal Commissioner or Principal Director or Commissioner or Director, of Income-tax. Such provisional attachment is valid for a period of 6 months. Further, the said section allows the assessee .....

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..... Officer to exercise the powers under this section during the pendency of proceedings for imposition of penalty under section 271AAD of the Act, if the amount or aggregate of amounts of penalty imposable is likely to exceed two crore rupees. This amendment will take effect from 1st April, 2021. [Clause 79] Full Text : Budget 2021-22 + FINANCE Bill, 2021 - FAQ - Frequently .....

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