https://www.taxtmi.com/caselaws?id=271019 The court ruled in favor of the petitioner, finding that the Income Tax Department's seizure of cash was lawful but emphasized the mandatory nature of statutory time limits for asset release. Due to the Assessing Officer's failure to decide within the prescribed period, the court ordered the release of the seized cash to the petitioner with statutory interest, citing relevant judicial precedents. en-us Mon, 11 Jan 2016 00:00:00 +0530 Fri, 13 May 2016 15:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271019 The court ruled in favor of the petitioner, finding that the Income Tax Department's seizure of cash was lawful but emphasized the mandatory nature of statutory time limits for asset release. Due to the Assessing Officer's failure to decide within the prescribed period, the court ordered the release of the seized cash to the petitioner with statutory interest, citing relevant judicial precedents. Case-Laws Income Tax Mon, 11 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271019