https://www.taxtmi.com/caselaws?id=290355 An overdraft account in debit, with no credit balance, is not money belonging to the dealer in the bank's hands and cannot be attached for tax recovery under section 45 of the Karnataka Value Added Tax Act, 2003. The Karnataka High Court held that the Department cannot treat such an overdraft facility as an attachable debt or fund available for recovery, because the bank is not holding the dealer's money in that account. The bank attachment notices were therefore quashed, while the Department remained free to pursue other lawful recovery measures. en-us Thu, 24 Oct 2019 00:00:00 +0530 Thu, 15 Oct 2020 10:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290355 An overdraft account in debit, with no credit balance, is not money belonging to the dealer in the bank's hands and cannot be attached for tax recovery under section 45 of the Karnataka Value Added Tax Act, 2003. The Karnataka High Court held that the Department cannot treat such an overdraft facility as an attachable debt or fund available for recovery, because the bank is not holding the dealer's money in that account. The bank attachment notices were therefore quashed, while the Department remained free to pursue other lawful recovery measures. Case-Laws VAT and Sales Tax Thu, 24 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290355