A & B TWO DIRECTOR IN A LTD CO. DIRECTOR A IN ASSESSEMT OF 06-07 ACCOUNTS(AY 07-08) A.O ASSESSED TAX 3 LAKHS AND CIT ORDERED ATTACHMENT OF HIS BANK ACCOUNT . BUT HIS PERSONAL ACCOUNT BALANCE RS10000 .CAN CIT RECOVER THE AMOUNT FROM THE COMPANY'S BANK ACCOUNT IF SUFFICIENT FUND AVAILABLE?
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BANK ATTACHMENT
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Dear Sugata,
Since CIT has ordered only the attachment of Bank A/c of the Director, the question of recovery from the A/c of the Company does not arise..
Further, generally only assessee's property can be attached (except in cases of Pvt. Ltd/Firms where properties of Directors/Partner's can also be attached)
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