Part DCA - Safe Harbour Rules for income referred to in clause (i) of sub-section (1) of section 9 chargeable to tax under the head (From Rule 10TI to Rule 10TIC)
Release of seized assets remaining after liabilities are discharged requires immediate handover in the presence of two witnesses. Any assets or proceeds remaining after the liabilities referred to in section 132B(1)(i) are discharged must be released without delay to the person from whose custody the assets were seized. The release or payment is to take place in the presence of two respectable witnesses, providing a safeguard for the handover of the remaining property after satisfaction of the specified liabilities.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Release of seized assets remaining after liabilities are discharged requires immediate handover in the presence of two witnesses.
Any assets or proceeds remaining after the liabilities referred to in section 132B(1)(i) are discharged must be released without delay to the person from whose custody the assets were seized. The release or payment is to take place in the presence of two respectable witnesses, providing a safeguard for the handover of the remaining property after satisfaction of the specified liabilities.
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