https://www.taxtmi.com/acts?id=21235 Where an assessee furnishes a guarantee from a scheduled bank for an amount at least equal to the fair market value of property provisionally attached under section 281B, the Assessing Officer shall revoke the attachment; the AO may accept a lower guarantee if sufficient. The AO may refer valuation to the Valuation Officer under section 142A for a fair market value estimate. The AO may invoke the guarantee to recover unpaid demand, must invoke it if not renewed before expiry, and must adjust proceeds against the demand with any surplus deposited in the Principal Commissioner/Commissioner's Personal Deposit Account. The AO may release the guarantee when no longer required. en-us Fri, 06 May 2016 17:05:38 +0530 Fri, 06 May 2016 17:05:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=21235 Where an assessee furnishes a guarantee from a scheduled bank for an amount at least equal to the fair market value of property provisionally attached under section 281B, the Assessing Officer shall revoke the attachment; the AO may accept a lower guarantee if sufficient. The AO may refer valuation to the Valuation Officer under section 142A for a fair market value estimate. The AO may invoke the guarantee to recover unpaid demand, must invoke it if not renewed before expiry, and must adjust proceeds against the demand with any surplus deposited in the Principal Commissioner/Commissioner's Personal Deposit Account. The AO may release the guarantee when no longer required. Act-Rules F. Acts / Amendment Acts Fri, 06 May 2016 17:05:38 +0530 https://www.taxtmi.com/acts?id=21235