Tag Archives: Attachment

Cash Credit or term loan account can’t be attached to recover taxes

By | July 28, 2016

Held Bank accounts were in the nature of either the cash credit account or term loan account. In other words, the accounts were opened to enable the assessee to borrow the money from the bank for the purpose of its business. Any money, therefore, that the bank may make available to the assessee would necessarily… Read More »

No attachment of bank account when stay application is pending before first appellate authority

By | December 17, 2015

Issue  The petitioner preferred an appeal together with the stay application before the Deputy Commissioner of Commercial Tax (Appeals) under section 73 of the Act on 6.7.2015, well within the period of limitation. However, during the pendency of the hearing of the stay application and the appeal, the fourth respondent issued attachment orders dated 21.7.2015,… Read More »