Police seized huge amount of cash from a car in which assessee and others were riding.Upon investigation and being satisfied that there was no explanation for cash nor was it accounted, proceedings were initiated in relation to same by issuance of notice under section 148. Finding that expected demand on assessment including penalty would be a substantial amount exceeding two crores, competent authority of department, ordered provisional attachment of bank accounts of assessees.\u00a0 On writ the single judge quashed the provsiionsl attachment order on bank. On appeal by the Revenue the division Bench\u00a0 held that\u00a0 mere fact that bank account is not explicitly provided under section 281B could not lead to conclusion that bank account was not liable to be attached under section 281B. Money in bank accounts is a property liable for provisional attachment under section 281B. Security furnished before Magistrate’s Court in relation to proceedings under section 281B could not be considered as sufficient security for purpose of Act,\u00a0 therefore\u00a0 order of provisional attachment under section 281B was\u00a0 upheld. Appeal of revenue was allowed.<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 281B : Provisional attachment-Seizure of cash from a car-Reassessment proceedings-Attachment of bank account-Money in a bank is a property liable for provisional attachment-Single judge held that bank account was not a property hence canot be subjected to provisional attachment-On appeal division Bench up held that provisional attachment-Order of single judge was set aside. [S. 132B, 226(4), Bharathiya Nagarik Suraksha Samhitha, 2023, S. 497, Code of Civil Procedure, 1908 (CPC) S 60(1), GST Act, 2017, Code of Criminal Procedure, 1973, S.451, Art. 226]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-56034","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-ezM","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/56034","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=56034"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/56034\/revisions"}],"predecessor-version":[{"id":58608,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/56034\/revisions\/58608"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=56034"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=56034"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=56034"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}