https://www.taxtmi.com/caselaws?id=39318 Section 132(3) of the Income-tax Act cannot be invoked to issue a prohibitory order against an ordinary savings bank account. The provision applies only to money or valuable articles that are in a person's immediate possession or control and are capable of search or seizure under section 132(1). A general bank deposit is a debtor-creditor relationship, so it is not money in the depositor's custody for this purpose. If account records suggest undisclosed income or escapement, the proper remedy is assessment proceedings, not freezing the account under section 132(3). en-us Thu, 31 Jul 1975 00:00:00 +0530 Thu, 15 Apr 2010 15:18:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39318 Section 132(3) of the Income-tax Act cannot be invoked to issue a prohibitory order against an ordinary savings bank account. The provision applies only to money or valuable articles that are in a person's immediate possession or control and are capable of search or seizure under section 132(1). A general bank deposit is a debtor-creditor relationship, so it is not money in the depositor's custody for this purpose. If account records suggest undisclosed income or escapement, the proper remedy is assessment proceedings, not freezing the account under section 132(3). Case-Laws Income Tax Thu, 31 Jul 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39318