Provisional attachment order passed without valid reasoning is untenable

Advertisement Xiaomi Technology India Private Limited Vs DCIT (Karnataka High Court) Karnataka High Court held the provisional attachment order unjustifiable as the same was passed simply stating that there is likely addition of the amount without mentioning of any valid and cogent reasons. Facts- The petitioner is a private limited company engaged in the business of procurement, supply and distribution of Xiaomi products in India bearing various brand names including mobile phones, accessories, computers etc., as part of its business, petitioner has to pay royalty to Qualcomm and Beijing X...