Money In Bank Account Considered 'Property', Subject To Provisional Attachment Under Section 281B Of Income Tax Act: Kerala High Court

In a recent decision, the Kerala High Court discussed the legal intricacies of provisional attachment under the Income Tax Act, 1961. The case revolves around the issue of whether money held in a bank account can be provisionally attached to secure revenue interests during an ongoing tax assessment. The Court also examined whether the security furnished before a Judicial First Class Magistrate’s Court for the interim release of the money…