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of <h1>Application of seized or requisitioned assets: rules for applying proceeds, release, distraint and interest for taxpayers.</h1> Section 250 prescribes how liabilities may be recovered from assets seized under search or requisition, allowing application of seized money first and sale or distraint of other assets thereafter; release of assets is permitted on application within a specified thirty-day window subject to explanation of source, recovery of existing liabilities, and senior officer approval, with mandatory release within 120 days of the last authorisation. Remaining assets after liabilities are to be returned to the person from whose custody they were taken. The Central Government must pay simple interest at 0.5% per month on the net seized funds for the period specified.
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