Restrictive orders under section 132(3) are short-term: investigate stock source, release on bank guarantee or realise. Restraint orders under section 132(3) are a short-term measure and should not be prolonged. For stocks, do not issue orders for perishable goods; promptly investigate source and extent of unexplained investment and compute tax, penalty and interest. Release stock on unconditional bank guarantee for the computed amount, and if the assessee refuses, pursue realisation through auction under enforcement provisions. Review all pending restraint orders on stock in light of these instructions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Restrictive orders under section 132(3) are short-term: investigate stock source, release on bank guarantee or realise.
Restraint orders under section 132(3) are a short-term measure and should not be prolonged. For stocks, do not issue orders for perishable goods; promptly investigate source and extent of unexplained investment and compute tax, penalty and interest. Release stock on unconditional bank guarantee for the computed amount, and if the assessee refuses, pursue realisation through auction under enforcement provisions. Review all pending restraint orders on stock in light of these instructions.
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