https://www.taxtmi.com/caselaws?id=182543 The court ordered that upon furnishing a bank guarantee for 100% of the refund amount to the satisfaction of the Commissioner of Income Tax, the attachment of refunds under Section 281B for assessment years 2007-2008, 2008-09, and 2009-2010 would be lifted. The bank guarantee would remain until the final disposal of reassessment proceedings and eight weeks thereafter. Upon satisfactory submission of the bank guarantee, the revenue would release the refunds to the petitioner within one week. The judgment aims to balance securing the revenue's interests with timely access to refunds for the petitioner. en-us Fri, 08 May 2015 00:00:00 +0530 Thu, 12 May 2016 23:43:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182543 The court ordered that upon furnishing a bank guarantee for 100% of the refund amount to the satisfaction of the Commissioner of Income Tax, the attachment of refunds under Section 281B for assessment years 2007-2008, 2008-09, and 2009-2010 would be lifted. The bank guarantee would remain until the final disposal of reassessment proceedings and eight weeks thereafter. Upon satisfactory submission of the bank guarantee, the revenue would release the refunds to the petitioner within one week. The judgment aims to balance securing the revenue's interests with timely access to refunds for the petitioner. Case-Laws Income Tax Fri, 08 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182543