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Q. > Please Help: attachement of FDR::
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206 views • Question added Jan 03, 2013 • Income Tax • By SHIVAM SIINGH , CA


My Q is that ???
One FDR of Rs. 10 Lac was attached by the Income Tax Deptt. In connection with the recovery in Scruitiny order . Assessee is in appeal.
Assesee = i.e. wife is holding = joint Fixed deposit in bank with her husband i.e Mrs.&Mr. . Now in scrutiny of the return of wife , wife gets the decision in her favour in appeal with the comment in appeal order that “Detail of Husband are further to be scruitinised by section 148 Notice''
But now the AO say, that I will send this attachment to the jurisdiction of hunsband’s AO.
And AO of Mrs. Is not ready to release the attached FDR. AO is talking about section 281.
whether AO is right?
what to do now ?
FDR(fixed deposit receipt) contain either or survivor

How attachement can be got released.

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mohit gupta

05-Jan-2013 , 11:58:17 pm

In my opinin th Assessing Officer is not right as Section 281b is inviked when to protect the intersts ofrevinue since inthis case the decision is in favour of assesee hence no recovery arise no queston of attachingg assets arise further provsional attachment is for six months and can be extended upto 2 years but with prior approval of chief commissioner You can refer the link http://www.indiankanoon.org/doc/102592159/ for more details

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