https://www.taxtmi.com/caselaws?id=1639 The Court held in favor of the Petitioner, directing the Income Tax Department to pay interest on the seized amount from specific dates as per statutory provisions. The Department was instructed to calculate and pay interest for the entire period of delay, including compensation for wrongfully retained amounts. The Court emphasized the importance of prompt decision-making and timely payments in cases involving search and seizure, ensuring that taxpayers are adequately compensated for any delays. en-us Mon, 02 Apr 2007 00:00:00 +0530 Fri, 12 Jul 2013 11:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=1639 The Court held in favor of the Petitioner, directing the Income Tax Department to pay interest on the seized amount from specific dates as per statutory provisions. The Department was instructed to calculate and pay interest for the entire period of delay, including compensation for wrongfully retained amounts. The Court emphasized the importance of prompt decision-making and timely payments in cases involving search and seizure, ensuring that taxpayers are adequately compensated for any delays. Case-Laws Income Tax Mon, 02 Apr 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=1639