Introducing the “In Favour Of” filter in Case Laws.
- ⚖️ Instantly identify judgments decided in favour of the Assessee, Revenue, or Appellant
- 🔍 Narrow down results with higher precision
Try it now in Case Laws →
TaxTMI Login
🚀 New Feature Launched ✕
Just a moment...
Introducing the “In Favour Of” filter in Case Laws.
Try it now in Case Laws →
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>New CBDT Circular: Revised Guidelines for Releasing Seized Assets, Approval Needed, Excludes Cash, Section 132.</h1> The circular issued by the Central Board of Direct Taxes outlines revised instructions for the release of seized assets, excluding cash, following search and seizure operations. It mandates that assets should be released if the assessee satisfactorily explains their acquisition, subject to outstanding tax liabilities. Approval from the Commissioner or Chief Commissioner is required for release, except for assets covering existing or expected liabilities. Assessees can exchange assets for cash, provided they accept ownership and valuation, and agree to use the cash for tax liabilities. Disputed assets or those with evidentiary value in legal proceedings will not be released until resolved.
TaxTMI 
TaxTMI 
