2022 (1) TMI 438

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....for the Respondent(s) No. 1,2,3   ORAL ORDER (PER : HONOURABLE MR. JUSTICE J.B.PARDIWALA) 1. We have heard Dr. Avinash Poddar, the learned counsel appearing for the writ applicant. 2. We started with today's board on a very sad note. The subject matter of challenge in the present writ application is to the order of provisional attachment of a cash credit account running in the nam....

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....it applicant to borrow the money from the Bank for the purpose of its business. Any money therefore, that the Bank may make available to the assessee would necessarily be in the nature of a loan or a cash credit facility. In either case, it would be in the nature of borrowing by the writ applicant from the Bank. In such circumstances, the Bank and the writ applicant therefore, do not have the debt....

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....ccount cannot be attached provisionally by virtue of power under Section 83 of the act. I observe that in the said case the FORM DRC 22 was issued by the Assistant Commissioner and not by the Pr. Commissioner/Commissioner as required by Section 83 and the cash credit account was specifically attached. 13.1. In the instant case, however, the provisional attachment is done by the Pr. Commis....

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....by the Pr. Commissioner/Commissioner as required by Section 83, and the cash credit account was specifically attached."   5. The Principal Commissioner says that the reliance placed by the writ applicant herein on one of the orders passed by this Court in the case of M/s. Formative Tex Fab vs. State of Gujarat is not binding to him as in the case of M/s. Formative Tex Fab (Supra), the orde....