HC : Stays bank accounts' provisional-attachment, given assessee's cooperation; Raps Commissioner for “excessive” exercise of power

Bombay HC stays order provisionally attaching assessee’s bank accounts for recovering alleged tax dues on the ground that assessee cooperated in investigation process as also offered its properties to secure Revenue’s interest; Observing that the assessee’s property tantamount to an estimated gross value of about Rs. 44 Cr. to secure the Revenue’s interest (against tax dues of around Rs. 33 Cr.), HC opines that in such circumstances, recourse to section 83 by Revenue ...