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TMI Blog2019 (10) TMI 1302X X X X Extracts X X X X X X X X Extracts X X X X ..... the amount for which the Bank has agreed to give loan - HELD THAT:- It is not in dispute that the attachment of the bank account of the petitioner is in respect of overdraft facility. If the account of the defaulter runs in debit and there being no credit in his account, the same should not be considered as the money belonging to the defaulter. The bank is under no obligation to make payment t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tax Act, 2003 ( the KVAT Act , for short) dated August 22, 2019 for attachment of overdraft bank account of the petitioner at annexures G, H and J, relating to the assessment years 2014-15, 2015-16 and 2016-17 and for other consequential reliefs. 3. The petitioner is a partnership-firm, registered dealer under the KVAT Act and also registered under the Central Sales tax Act, 1956. The petition ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 19 (Karn) ; [1998] 45 Kant. L. J. 595. 5. The learned Additional Government Advocate appearing for the Revenue would submit that the bank has addressed a letter to the assessing authority stating that the bankers are unable to remit the amount called for on account of non-payment of VAT for the assessment years in question since the petitioner has availed the overdraft and other credit facilit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the account of the defaulter runs in debit and there being no credit in his account, this should not be considered as the money belonging to the defaulter. The bank is under no obligation to make payment to the Commercial Tax Department. It is only when the bank or the other person holds any money on behalf of the defaulter or may be found subsequently holding. If at any particular point of time ..... X X X X Extracts X X X X X X X X Extracts X X X X
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