Where assessee challenged a Look Out Circular (LOC) and sought its cancellation along with permission to travel abroad and Trial Court rescinded LOC and allowed travel on condition of depositing an FDR of Rs. 25 lakhs and joining concluded investigation, since LOC was rescinded and no new LOC was issued, Trial Court was directed to release FDR to assessee – Ashutosh Sharma v. Income-tax Office – [2024] 166 taxmann.com 509 (Delhi)
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