https://www.taxtmi.com/caselaws?id=395275 The court upheld the provisional attachment of Fixed Deposit Receipts (FDRs) worth USD 9.02 million under Section 132(9B) of the Income Tax Act, 1961 in a case involving a Hong Kong-based company linked to the Priya Blue group of companies. While allowing the company to operate its bank accounts, the court granted the Income Tax Department the right to take further legal actions, including additional attachments, in the future. The judgment emphasizes the importance of consensus and balance in tax disputes, ensuring transparency and compliance with legal procedures for fair outcomes. en-us Tue, 12 May 2020 00:00:00 +0530 Thu, 14 May 2020 13:12:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395275 The court upheld the provisional attachment of Fixed Deposit Receipts (FDRs) worth USD 9.02 million under Section 132(9B) of the Income Tax Act, 1961 in a case involving a Hong Kong-based company linked to the Priya Blue group of companies. While allowing the company to operate its bank accounts, the court granted the Income Tax Department the right to take further legal actions, including additional attachments, in the future. The judgment emphasizes the importance of consensus and balance in tax disputes, ensuring transparency and compliance with legal procedures for fair outcomes. Case-Laws Income Tax Tue, 12 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395275