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<h1>High Court quashes Income-tax Act notices on bank deposits for lack of reasoning and expired attachment period.</h1> The High Court quashed the notices issued under section 281B of the Income-tax Act for attaching bank deposits due to lack of proper reasoning and ... New Industrial Undertaking, Special Deduction The petitioner challenged notices under section 281B of the Income-tax Act for attaching bank deposits. The High Court found the notices were issued without proper reasoning and the six-month attachment period had expired without extension by the Commissioner. The court quashed the notices and allowed the petition with costs.