https://www.taxtmi.com/circulars?id=9121 Prohibitory orders under section 132(3) restrain owners or persons in possession from dealing with books, documents or valuables when seizure is impracticable. For bank-held funds, courts view such monies as impracticable to seize and recommend addressing the order to the depositor rather than the bank to avoid implying the bank loses authority. To prevent disputes about ownership and control, the officer should serve the notice on the bank and endorse a copy to the assessee, and simultaneously serve the assessee with a copy to the bank, and may resort to alternative procedural powers where justified. en-us Thu, 06 Oct 1977 00:00:00 +0530 Thu, 13 Mar 2025 12:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=9121 Prohibitory orders under section 132(3) restrain owners or persons in possession from dealing with books, documents or valuables when seizure is impracticable. For bank-held funds, courts view such monies as impracticable to seize and recommend addressing the order to the depositor rather than the bank to avoid implying the bank loses authority. To prevent disputes about ownership and control, the officer should serve the notice on the bank and endorse a copy to the assessee, and simultaneously serve the assessee with a copy to the bank, and may resort to alternative procedural powers where justified. Circulars Income Tax Thu, 06 Oct 1977 00:00:00 +0530 https://www.taxtmi.com/circulars?id=9121