Tag Archives: Term Loan

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 »