https://www.taxtmi.com/caselaws?id=351041 The Court upheld the legality of the garnish notice issued by the Income Tax Department to ICICI Bank, as the petitioner failed to deposit 20% of its own outstanding demand. The petitioner's non-compliance with CBDT circulars led to the validation of the demand raised by the Income Tax Department. The Court clarified the separate legal entities' tax liabilities and permitted actions against ICICI Bank for unfreezing the account without seeking clarification. Ultimately, the Court dismissed the writ petitions, affirming the Income Tax Department's actions and allowing further steps against ICICI Bank. en-us Mon, 13 Nov 2017 00:00:00 +0530 Fri, 17 Nov 2017 08:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351041 The Court upheld the legality of the garnish notice issued by the Income Tax Department to ICICI Bank, as the petitioner failed to deposit 20% of its own outstanding demand. The petitioner's non-compliance with CBDT circulars led to the validation of the demand raised by the Income Tax Department. The Court clarified the separate legal entities' tax liabilities and permitted actions against ICICI Bank for unfreezing the account without seeking clarification. Ultimately, the Court dismissed the writ petitions, affirming the Income Tax Department's actions and allowing further steps against ICICI Bank. Case-Laws Income Tax Mon, 13 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351041