Allowing the petition the Court granted interim in junction subject to payment of 20 percent of disputed tax on account of claim of additional depreciation .Court also held that the attachment of the assessee’s bank account stood lifted. (AY. 2014-15)
S. P. Mani and Mohan Dairy. v. ACIT (2018) 404 ITR 633/ 255 Taxman 172 (Mad) (HC)
S. 226 : Collection and recovery – Modes of recovery -Attachment of bank account – Interim in junction was granted subject to payment of 20 percent of disputed tax on account of claim of additional depreciation .[ S 32(1)(iia), 226(3) ]