Refund of seized cash requires consideration against the Settlement Commission's order through a reasoned decision by the competent authority.

Refund of cash seized during search must be considered by the competent income-tax authority with reference to the Settlement Commission's order resolving the dispute between the assessee and the Revenue. The taxpayer may submit a detailed representation, and the authority must decide the refund claim in accordance with law within the stipulated period.

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Issues: Whether the petitioner's claim for refund of cash seized during search should be considered by the competent income-tax authority in light of the Settlement Commission's order.

Analysis: The dispute between the assessee and the Revenue had been settled by the Settlement Commission, while the seized cash had not been refunded. The claim required consideration by the designated authority with reference to the Settlement Commission's order.

Outcome: Liberty was granted to submit a detailed representation to the competent authority, which was directed to decide it in accordance with law within the stipulated period.

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