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ApniLaw > Blog > High Court > Kerala High Court > Cash In Bank Account Is ‘Property’ Liable For Attachment: Kerala High Court
High CourtKerala High CourtNews

Cash In Bank Account Is ‘Property’ Liable For Attachment: Kerala High Court

Amna Kabeer
Last updated: February 1, 2025 10:04 pm
Amna Kabeer
6 months ago
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High Court of Kerala
High Court of Kerala
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Cash In Bank Account Is ‘Property’ Liable For Attachment

The Kerala High Court ruled that cash in a bank account qualifies as “property” and can be provisionally attached under Section 281B of the Income Tax Act. A Division Bench comprising Justices Sathish Ninan and Shoba Annamma Eapen clarified that the absence of an explicit mention of bank accounts in Section 281B does not exempt them from attachment.

Contents
Cash In Bank Account Is ‘Property’ Liable For AttachmentCourt Observations and RationaleCourt’s Decision


Court Observations and Rationale


Section 281B allows the Assessing Officer to provisionally attach property to prevent possible tax defaults. In this case, the police seized a large amount of unaccounted cash from the assessee’s car. The authorities initiated proceedings under Section 148 after the assessee failed to explain the source of the cash.
The Income Tax Department expected a tax liability, including penalties, exceeding ₹2 crores. Fearing evasion, they attached the assessee’s bank accounts under Section 281B. While a writ petition initially overturned the attachment, the department challenged the decision before the High Court.
The court emphasized that the provisional attachment must match the probable tax demand and penalty and not exceed it.


Court’s Decision


The court ruled in favor of the department, allowing the attachment of bank accounts. However, it stressed that attachment orders must align with the probable demand, ensuring they are not excessive.

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TAGGED:Bank AccountsCustody of PropertyHigh CourtsKerala High CourtMoneyProperty
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