https://www.taxtmi.com/caselaws?id=431905 The court partially allowed the petition challenging the provisional attachment order under Section 281B of the Income Tax Act. The impugned order was set aside due to lack of valid reasons and failure to comply with legal requirements. Specific conditions were imposed, including prohibiting certain payments from fixed deposits, allowing overdrafts for payments to foreign entities, and directing completion of draft assessment proceedings by a specified date. The approval by the Principal Commissioner of Income Tax was deemed non-speaking and unreasoned, leading to the order's invalidation. en-us Fri, 16 Dec 2022 00:00:00 +0530 Mon, 27 Feb 2023 15:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431905 The court partially allowed the petition challenging the provisional attachment order under Section 281B of the Income Tax Act. The impugned order was set aside due to lack of valid reasons and failure to comply with legal requirements. Specific conditions were imposed, including prohibiting certain payments from fixed deposits, allowing overdrafts for payments to foreign entities, and directing completion of draft assessment proceedings by a specified date. The approval by the Principal Commissioner of Income Tax was deemed non-speaking and unreasoned, leading to the order's invalidation. Case-Laws Income Tax Fri, 16 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431905