Seizure custody: require immediate deposit of seized cash and valuables into official deposit accounts, limited retention for prosecution. Seized cash and valuables must be deposited immediately into the Personal Deposit Account of the Commissioner or with a bank or treasury under the income-tax rules; however, where preservation of currency identity is necessary for prosecution, the Commissioner may, after consulting Prosecution Counsel and recording reasons, retain notes in original form, package them, and place them in bank or treasury safe custody.
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.
Seizure custody: require immediate deposit of seized cash and valuables into official deposit accounts, limited retention for prosecution.
Seized cash and valuables must be deposited immediately into the Personal Deposit Account of the Commissioner or with a bank or treasury under the income-tax rules; however, where preservation of currency identity is necessary for prosecution, the Commissioner may, after consulting Prosecution Counsel and recording reasons, retain notes in original form, package them, and place them in bank or treasury safe custody.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
