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[Cites 0, Cited by 0] [Section 500] [Entire Act]

Union of India - Subsection

Section 500(5) in The Income Tax Act, 2025

(5)For the purposes of sub-section (4), where the Assessing Officer is satisfied that a guarantee from a scheduled bank for an amount lower than the fair market value of the property is sufficient to protect the interests of the revenue, he may accept such guarantee and revoke the attachment.