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Income Tax - Highlights / Catch Notes

Home Highlights September 2012 Year 2012 This

Claim of interest - If a decision to hold or withhold ...


Interest Accrues on Seized Assets if Decision Not Made Within 120 Days of Seizure Date.

September 5, 2012

Case Laws     Income Tax     HC

Claim of interest - If a decision to hold or withhold monies/assets discovered during a Search is not taken with the prescribed period of 120 days, interest would start to run from the date of the Seizure itself - HC

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