https://www.taxtmi.com/caselaws?id=9861 The Court ruled in favor of the petitioners, stating that the transfer request from term deposit account B to savings account A under the Capital Gains Accounts Scheme, 1988 should not require clearance from the Assessing Officer in Form No. G. The Court clarified that transferring funds between accounts within the same bank does not equate to closure of the account, as per the Scheme's provisions. The first respondent-bank was directed to process the transfer request promptly without the need for additional clearance, emphasizing the distinction between account transfer and closure under the Scheme. en-us Thu, 13 Jul 2006 00:00:00 +0530 Thu, 02 Jul 2009 11:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9861 The Court ruled in favor of the petitioners, stating that the transfer request from term deposit account B to savings account A under the Capital Gains Accounts Scheme, 1988 should not require clearance from the Assessing Officer in Form No. G. The Court clarified that transferring funds between accounts within the same bank does not equate to closure of the account, as per the Scheme's provisions. The first respondent-bank was directed to process the transfer request promptly without the need for additional clearance, emphasizing the distinction between account transfer and closure under the Scheme. Case-Laws Income Tax Thu, 13 Jul 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9861