https://www.taxtmi.com/caselaws?id=21874 The court quashed the order rejecting the petitioner's application under section 220(6) of the Income-tax Act, 1961, directing a fresh hearing by the Assessing Officer. It restrained the enforcement of tax demand and bank guarantees, allowing encashment of only 50% of the guarantees with a requirement for a fresh guarantee for the remaining amount. The decision aimed to balance the interests of both parties, ensuring the petitioner's business continuity while safeguarding the government's revenue. The petition was disposed of without costs, with the petitioner instructed to appear before the Assessing Officer on specified dates. en-us Mon, 11 Nov 1991 00:00:00 +0530 Wed, 02 Dec 2009 17:40:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21874 The court quashed the order rejecting the petitioner's application under section 220(6) of the Income-tax Act, 1961, directing a fresh hearing by the Assessing Officer. It restrained the enforcement of tax demand and bank guarantees, allowing encashment of only 50% of the guarantees with a requirement for a fresh guarantee for the remaining amount. The decision aimed to balance the interests of both parties, ensuring the petitioner's business continuity while safeguarding the government's revenue. The petition was disposed of without costs, with the petitioner instructed to appear before the Assessing Officer on specified dates. Case-Laws Income Tax Mon, 11 Nov 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21874