https://www.taxtmi.com/caselaws?id=269326 Requisition under Section 132-A requires reliable material showing a live nexus between the seized assets and undisclosed income, and it cannot be sustained on inadequate information. On the facts recorded, the silver bullion was supported by invoices and the Department lacked sufficient basis to treat the assets as undisclosed property, so the requisition challenge succeeded. A Magistrate may nevertheless impose a security or protective condition while directing delivery of seized assets to the Income Tax Department, as a safeguard pending unresolved competing claims; that condition was upheld as legally permissible. en-us Tue, 01 Dec 2015 00:00:00 +0530 Wed, 04 May 2016 14:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269326 Requisition under Section 132-A requires reliable material showing a live nexus between the seized assets and undisclosed income, and it cannot be sustained on inadequate information. On the facts recorded, the silver bullion was supported by invoices and the Department lacked sufficient basis to treat the assets as undisclosed property, so the requisition challenge succeeded. A Magistrate may nevertheless impose a security or protective condition while directing delivery of seized assets to the Income Tax Department, as a safeguard pending unresolved competing claims; that condition was upheld as legally permissible. Case-Laws Income Tax Tue, 01 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269326