https://www.taxtmi.com/caselaws?id=6681 Recovery proceedings against a garnishee were treated as within time, as the limitation objection based on the old law and the attempted reliance on the 1961 Act failed on the facts and pleadings. Section 46(5A) of the Income-tax Act, 1922, protected a garnishee only where there was a genuine factual denial that any money was due or held for the assessee. A bank that admitted the deposit but relied on an internal book-entry transfer to its Pakistan branch did not raise a valid statutory objection, because the debt remained at Ludhiana and recovery could proceed against the bank as garnishee. en-us Fri, 26 Nov 1965 00:00:00 +0530 Sun, 01 Feb 2009 05:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6681 Recovery proceedings against a garnishee were treated as within time, as the limitation objection based on the old law and the attempted reliance on the 1961 Act failed on the facts and pleadings. Section 46(5A) of the Income-tax Act, 1922, protected a garnishee only where there was a genuine factual denial that any money was due or held for the assessee. A bank that admitted the deposit but relied on an internal book-entry transfer to its Pakistan branch did not raise a valid statutory objection, because the debt remained at Ludhiana and recovery could proceed against the bank as garnishee. Case-Laws Income Tax Fri, 26 Nov 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6681