https://www.taxtmi.com/caselaws?id=260402 The Bombay High Court directed the Revenue to vacate the provisional attachment of a significant refund granted to the petitioner for the assessment year 2009-10 upon the petitioner providing a Bank Guarantee from a Nationalised Bank. The Bank Guarantee was required to remain valid until the final disposal of the reassessment notice and an additional eight weeks thereafter. Once the conditions were met, the Revenue was instructed to promptly release the refund to the petitioner. This decision balanced the petitioner's liquidity concerns with the Revenue's interests, providing a pragmatic resolution benefiting both parties. en-us Thu, 07 May 2015 00:00:00 +0530 Thu, 11 Jun 2015 06:21:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260402 The Bombay High Court directed the Revenue to vacate the provisional attachment of a significant refund granted to the petitioner for the assessment year 2009-10 upon the petitioner providing a Bank Guarantee from a Nationalised Bank. The Bank Guarantee was required to remain valid until the final disposal of the reassessment notice and an additional eight weeks thereafter. Once the conditions were met, the Revenue was instructed to promptly release the refund to the petitioner. This decision balanced the petitioner's liquidity concerns with the Revenue's interests, providing a pragmatic resolution benefiting both parties. Case-Laws Income Tax Thu, 07 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260402