a notice of demand u/s 156 is issued to an LLP after best judgement assessment and the AO has also invoked sec. 68.
The LLP has already shut down its operations after a dispute between partners . Also the LLP didnt file any ITR .
My query is , can the IT Department freeze bank accounts or attach properties of the partners ?
As per the short facts stated by you, an addition U/s 68 has been made i.e. unexplained cash credits. Against the order, you ought to have file an appeal before the Jurisdictional CIT(Appeal) and get a stay order. If not, the department has all rights for recovery
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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