https://www.taxtmi.com/caselaws?id=284668 Interim modification of a provisional attachment under income-tax law was granted to balance business continuity with revenue protection. Recognising that the petitioner was an operating company, the Court allowed normal banking operations and receipt of debts, receivables, loans and advances into designated bank accounts, while requiring monthly reporting and continuation of instalment payments. To secure possible tax recovery, it restrained transfer or alienation of immovable assets, fixed assets, movable plant and machinery, and dividend remittances abroad, and required prior intimation before any repatriation of funds. The relief was therefore granted in modified form subject to protective conditions. en-us Thu, 26 Sep 2013 00:00:00 +0530 Mon, 02 Dec 2019 18:58:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284668 Interim modification of a provisional attachment under income-tax law was granted to balance business continuity with revenue protection. Recognising that the petitioner was an operating company, the Court allowed normal banking operations and receipt of debts, receivables, loans and advances into designated bank accounts, while requiring monthly reporting and continuation of instalment payments. To secure possible tax recovery, it restrained transfer or alienation of immovable assets, fixed assets, movable plant and machinery, and dividend remittances abroad, and required prior intimation before any repatriation of funds. The relief was therefore granted in modified form subject to protective conditions. Case-Laws Income Tax Thu, 26 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284668