https://www.taxtmi.com/caselaws?id=458288 The HC upheld the Single Judge's decision, emphasizing that the absence of a specific freezing order under Section 132 of the Income Tax Act, 1961, rendered the communication to banks ineffective. The court noted that no such order was issued to freeze accounts, thus lacking a legal basis for interference. However, the decision does not preclude future actions under Section 37 of FEMA by the investigating officer. en-us Thu, 02 Jul 2020 00:00:00 +0530 Fri, 18 Oct 2024 19:52:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458288 The HC upheld the Single Judge's decision, emphasizing that the absence of a specific freezing order under Section 132 of the Income Tax Act, 1961, rendered the communication to banks ineffective. The court noted that no such order was issued to freeze accounts, thus lacking a legal basis for interference. However, the decision does not preclude future actions under Section 37 of FEMA by the investigating officer. Case-Laws FEMA Thu, 02 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458288