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of <h1>New Guidelines for Releasing Seized Assets: Bank Guarantees Required for Jewelry, Stocks; Evidence Assets Held Until Prosecution Ends.</h1> The Central Board of Direct Taxes has issued instructions regarding the release of seized assets in search and seizure cases. If seized assets are disclosed in regular accounts, they may be released, subject to recovery actions for existing arrears. For seized jewelry or perishable stocks, assets may be released if an unconditional irrevocable bank guarantee covering their full value is provided. The guarantee must remain valid until assessment proceedings are complete and taxes collected, with the Department retaining enforcement rights. Assets with evidentiary value in prosecution will not be released until prosecution proceedings conclude.
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