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After the petitioner's tax liability for alleged unexplained jewellery stood fully and finally settled upon issuance of Form-5 under the Vivad se Vishwas Scheme, the department lacked statutory authority to continue detaining jewellery seized during a search. Detention on the ground that a joint locker-holder had an outstanding demand was held contrary to the CIT(A)'s findings on ownership and inconsistent with the scheme's finality, rendering the refusal illegal and perverse. The department was directed to release the seized jewellery (3473.700 g gold and 6.97 carat diamond) within two weeks and was saddled with exemplary costs for defiant conduct. -HC
After the petitioner's tax liability for alleged unexplained jewellery stood fully and finally settled upon issuance of Form-5 under the Vivad se Vishwas Scheme, the department lacked statutory authority to continue detaining jewellery seized during a search. Detention on the ground that a joint locker-holder had an outstanding demand was held contrary to the CIT(A)'s findings on ownership and inconsistent with the scheme's finality, rendering the refusal illegal and perverse. The department was directed to release the seized jewellery (3473.700 g gold and 6.97 carat diamond) within two weeks and was saddled with exemplary costs for defiant conduct. -HC
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