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2022 (7) TMI 290 - HC - Income TaxRecovery proceedings - Attachment of PPF account - petitioner was investing HUF’s money in the said PPF account and is also a partner of Gujarat Steel & Pipes– Partnership Firm and the said firm was also holding a Cash Credit Account with the respondent-Bank - bank debited the amount from PPF Account to Cash Credit Account of his partnership firm - HELD THAT:- It is not in dispute that the respondent Bank have withdrawn/debited the aforesaid amount of Rs.85,380/- from the PPF Account of the petitioner. It is well settled proposition of law that the amount of Public Provident Fund account shall not be liable to any attachment in respect of any debt or liability incurred by the account holder. Thus, the action of the respondent Bank of withdrawing/debiting the aforesaid amount from the PPF Account of the petitioner is illegal and unjustified. Under the circumstances, the respondent Bank is directed to deposit the amount of Rs.85,380/- within a period of four weeks in the Savings Bank Account in the name of Rajnikant Punjalal Shah HUF with the Bank of Baroda, Law Garden Branch, Ahmedabad. It is clarified that the observations made by this Court may not be construed adverse to the respondent Bank in any other proceedings.
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