[aaykarbhavan] Allahabad H.C: Release of the seized goods and cash, if there is no tax liability pending against the assessee [1 Attachment]

Ms. Preeti Varma Versus Income Tax Appellate Tribunal And 4 Others

Release of the seized goods and cash, if there is no tax liability pending against the assessee – Held that:- If there is no tax liability, pending against the petitioner in respect of relevant assessment years, corresponding to the search and seizure operations, there is no justification in law to continue to keep the cash and jewellery in the possession of the income tax department. The filing of the income tax appeals by the department in the Income Tax Appellate Tribunal, New Delhi will not prima facie justify the possession of the cash and jewellery. The income tax department, however, may insist upon some security for releasing the cash and jewellery and for that purpose if the attachment of the apartment as aforesaid is still continuing, the department may consider to keep the attachment alive until final disposal of the appeal by the Income Tax Appellate Tribunal - Writ petition is disposed of with directions that in case the petitioner applies for release of cash and jewellery, the said application will be decided by the ITO 23 (2), New Delhi within a month – Decided in favor of Assessee.

Please find the attached case

 

Regards

Prarthana Jalan

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