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2013 (10) TMI 311 - HC - Income TaxAttachment of bank accounts for recovery in case of sick industries - Attachment of the bank accounts and recovery proceedings initiated against the petitioner – Held that:- Reliance has been placed upon the judgment in the case of Tata Davy [1997 (8) TMI 78 - SUPREME COURT OF INDIA], wherein it has been held that until and unless permission is obtained from AAIFR, such recovery cannot be affected - Action of the respondents by attachment of the bank accounts is illegal and accordingly the attachment of the bank accounts of the petitioner for enforcing the recovery under the assessment order is hereby quashed – Revenue is free to move an application before the AAIFR for seeking its permission for affecting the recovery under the assessment order, and shall act in accordance with the permission as may be granted by the said Board – Decided in favor of Assessee.
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