Court Reviews Provisional Attachment of Assets for Undisclosed Foreign Investments Under Income Tax Act Section 132(9B.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Provisional attachment of Bank Accounts and properties - undisclosed foreign investment - exercise of powers u/s 132(9B) - while granting the relief, we must bear in mind that the approximate tax, interest and penalty liability which the Department has computed, firstly even the basis of maximum penalty which is impossible, secondly the same is in realm of possibilities.....