https://www.taxtmi.com/caselaws?id=247296 The court upheld the authorization under section 132A of the Income Tax Act, 1961, as the petitioner failed to prove the source of the seized cash, deemed undisclosed income. The court directed the authority to decide on the cash release application within 12 weeks. The petitioner's request for release under section 132B was denied due to inconsistencies in explaining the cash source, incomplete assessment proceedings, and potential penalties for undisclosed income. The court supported the Assistant Commissioner's decision, ruling the cash release was not warranted as per legal requirements. The petition was dismissed without finding fault in the Assistant Commissioner's order. en-us Thu, 23 Jan 2014 00:00:00 +0530 Sat, 01 Nov 2014 14:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247296 The court upheld the authorization under section 132A of the Income Tax Act, 1961, as the petitioner failed to prove the source of the seized cash, deemed undisclosed income. The court directed the authority to decide on the cash release application within 12 weeks. The petitioner's request for release under section 132B was denied due to inconsistencies in explaining the cash source, incomplete assessment proceedings, and potential penalties for undisclosed income. The court supported the Assistant Commissioner's decision, ruling the cash release was not warranted as per legal requirements. The petition was dismissed without finding fault in the Assistant Commissioner's order. Case-Laws Income Tax Thu, 23 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247296