Delhi HC Releases Provisionally Attached Rs 42 Crores Available as Fixed Deposit

CCTEB India Private Limited Vs ACIT (Delhi High Court) In a recent ruling, the Delhi High Court granted relief to CCTEB India Private Limited by releasing approximately Rs. 42 crores, which had been provisionally attached and held in fixed deposits. The Court’s decision arrived amidst concerns raised regarding assessment years 2019-20, 2020-21, and 2021-22.  The case revolved around the demands raised for various assessment years, totaling Rs.56,48,47,524/-. The petitioner was requested to pay Rs.35,42,16,461/- according to the Principal Commissioner of Income Tax’s (PCIT) order. ...