https://www.taxtmi.com/circulars?id=8753 An order restraining a lender from parting with promissory notes can be ineffective unless qualified to require borrowers to pay the amounts directly to the tax department; where recovery is at risk, seizure action should be taken. The authorised officer may direct borrowers to pay the department and may seize promissory notes and invoke the replacement-in-money provision to obtain monetary replacement before returning the notes. en-us Tue, 06 Oct 1970 00:00:00 +0530 Thu, 13 Mar 2025 11:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=8753 An order restraining a lender from parting with promissory notes can be ineffective unless qualified to require borrowers to pay the amounts directly to the tax department; where recovery is at risk, seizure action should be taken. The authorised officer may direct borrowers to pay the department and may seize promissory notes and invoke the replacement-in-money provision to obtain monetary replacement before returning the notes. Circulars Income Tax Tue, 06 Oct 1970 00:00:00 +0530 https://www.taxtmi.com/circulars?id=8753