https://www.taxtmi.com/caselaws?id=381595 The court granted the petition seeking mandamus for the transfer of funds, ruling against the legality of encashment of fixed deposits by tax authorities. Citing previous judgments, the court directed the respondents to invest the encashed amount in a fixed deposit to protect the petitioners' rights. Emphasizing the need for interest earnings, the court imposed conditions on the encashment and disposal of the amount, ensuring compliance with the Income Tax Act. The judgment balanced the interests of both parties and clarified the handling of any excess encashed amount according to the law, ultimately disposing of the writ petition without costs. en-us Thu, 11 Apr 2019 00:00:00 +0530 Thu, 13 Jun 2019 13:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381595 The court granted the petition seeking mandamus for the transfer of funds, ruling against the legality of encashment of fixed deposits by tax authorities. Citing previous judgments, the court directed the respondents to invest the encashed amount in a fixed deposit to protect the petitioners' rights. Emphasizing the need for interest earnings, the court imposed conditions on the encashment and disposal of the amount, ensuring compliance with the Income Tax Act. The judgment balanced the interests of both parties and clarified the handling of any excess encashed amount according to the law, ultimately disposing of the writ petition without costs. Case-Laws Income Tax Thu, 11 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381595