https://www.taxtmi.com/caselaws?id=418571 The court granted the petitioner's request for a Writ of Mandamus to halt the enforcement of an order until the appeal's resolution and release the lien on fixed deposits. The case revolved around tax deductions on buy-back transactions, with a dispute arising under Section 115(O) of the Income Tax Act, 1961. Following Supreme Court directions, the court instructed that bank guarantees or deposited amounts should not be encashed pending the appeal hearing before the Commissioner of Income Tax (Appeals), limiting total recovery to 20% and allowing for excess security to be refunded to the petitioner. en-us Tue, 01 Feb 2022 00:00:00 +0530 Sat, 19 Feb 2022 07:04:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418571 The court granted the petitioner's request for a Writ of Mandamus to halt the enforcement of an order until the appeal's resolution and release the lien on fixed deposits. The case revolved around tax deductions on buy-back transactions, with a dispute arising under Section 115(O) of the Income Tax Act, 1961. Following Supreme Court directions, the court instructed that bank guarantees or deposited amounts should not be encashed pending the appeal hearing before the Commissioner of Income Tax (Appeals), limiting total recovery to 20% and allowing for excess security to be refunded to the petitioner. Case-Laws Income Tax Tue, 01 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418571