HUNTING INDUSTRIES LIMITED v BARCLAYS BANK OF ZIMBABWE LTD & ORS 2005 (1) ZLR 447 (H)

2005 (1) ZLR p447

Flynote

Practice and procedure — garnishee proceedings — by tax collecting authority — need for a directive to be served on the garnishee before notice is given to the defaulting taxpayer

Revenue and public finance — income tax — appointment of bank as agent for revenue authority — taxpayer having overdraft at bank — not a reason why bank should not be appointed agent — "income" — meaning of — appointment of Reserve Bank as agent to garnishee monies held there by taxpayer's bank — no assessment issued against bank — garnishee unlawful

Revenue and public finance — income tax — Income Tax Act [Chapter 23:06] — s 58 — appointment of agent — bank controlling or managing taxpayer's money — nothing to prevent bank from being appointed taxpayer's agents — overdrawn account of the taxpayer — does not necessarily mean that the taxpayer is devoid of income

Revenue and public finance — income tax — overdraft facility — taxpayer having overdraft facility with a bank — account with bank overdrawn — moneys made available for use by the taxpayer treated as an asset for purpose of a garnishee — payment to tax collecting authority treated as payment by taxpayer's bank