Q: Can income tax officer order for Provisional attachment of cash, bank, any property belonging to the assessee? HIGH COURT OF GUJARAT passed the order on dated 29/11/2022.
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Head Notes:-
Provisional attachment u/s 132(9B) can be made by the authorised officer only during the course of the search or seizure or within a period of sixty days from the date on which the last of the authorisations for search was executed and with the previous written approval of the Principal Director General or Director General or the Principal Director or Director,
Provisional attachment u/s 132(9B) can only be up to the portion which suffices past case & present proceedings,
Section 132(9B), 281(B),
provisional attachment u/s 132(9B) can be released from provisional attachment subject to personal undertakings by the assessee and in case of company all of its directors that they shall be liable to pay from personal funds if company is assessed to tax for more than the attached amount, the same rule applies for Attachment of property u/s 281(B)
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SCA154852022_GJHC240480852022_5_29112022