Case Law Details
Case Name : Firoz Tin Factory and another. Vs Assistant Commissioner of Income Tax (Bombay High Court)
Related Assessment Year :
Courts :
All High Courts Bombay High Court
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In the present case, as noted earlier, a provisional attachment has already been levied on 7 October 2011 under Section 281B by which the amount which was invested by the Assessee in mutual funds of SBI Mutual Funds was attached. The attachment was to the extent of Rs.36.54 Crores. That being the position evidently there would have been no basis for forming a reason to believe that if the period of 30 days was to be observed under Section 220(1), that would be detrimental to the Revenue.
Merely because the end of the financial
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