Satyam Computer Services Ltd. said that on February 2, the Company received a provisional attachment order dated January 30, from the Additional Commissioner of Income Tax, Central Range — 3, Hyderabad attaching land and buildings of the Company under section 281B of the Income Tax Act, 1961.
The Company also received the interim High Court Order dated January 31, in the writ petitions filed by it inter alia questioning the Orders of CBDT and the Draft Assessment Orders, wherein the High Court listed the matter on February 28, and ordered the parties to maintain status-quo as on date.
The said order also directed that the Bank Guarantee furnished by the Company will not be encashed by the Revenue until further orders.
The Company is examining various legal options to challenge the Order of ACIT.