HC: Quashes interest quantification and bank account attachment without SCN issuance

Karnataka HC holds Revenue’s action of effecting recovery towards interest by attaching bank accounts of the assessee without issuance of Show Cause Notice (SCN) as “perverse and illegal”; Observes that after determination of interest liable to be paid by the assessee, no notice has been issued before attaching the bank accounts; Peruses material on record and the wordings of provisions of Sec. 73 of the Act which state that ‘where it appears to the proper o...