Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
HC held that a cash credit account cannot be provisionally attached under Section 83 of MGST Act, as it represents a bank liability rather than a property belonging to the account holder. The court determined that the statutory language of "any property including bank account" does not encompass cash credit accounts. Relying on precedential decisions from Gujarat and Calcutta HCs, the court ruled the provisional attachment order as unauthorized, arbitrary, and illegal. The petition was consequently allowed, quashing the impugned order and preventing the attachment of the cash credit account.
HC held that a cash credit account cannot be provisionally attached under Section 83 of MGST Act, as it represents a bank liability rather than a property belonging to the account holder. The court determined that the statutory language of "any property including bank account" does not encompass cash credit accounts. Relying on precedential decisions from Gujarat and Calcutta HCs, the court ruled the provisional attachment order as unauthorized, arbitrary, and illegal. The petition was consequently allowed, quashing the impugned order and preventing the attachment of the cash credit account.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4796
Join Channel
TaxTMI 
