https://www.taxtmi.com/caselaws?id=350864 The court dismissed the Income Tax Department's application, ruling that the seized money was held in constructive trust for the decree holder due to fraud by the judgment debtor. The court held that the decree holder had a proprietary interest in the amount and it could not be used to offset the tax liability. The court noted Section 132(11) of the Income Tax Act was inapplicable. The application was dismissed without costs, with further proceedings set for 15.02.2018. en-us Mon, 13 Nov 2017 00:00:00 +0530 Mon, 13 Nov 2017 17:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=350864 The court dismissed the Income Tax Department's application, ruling that the seized money was held in constructive trust for the decree holder due to fraud by the judgment debtor. The court held that the decree holder had a proprietary interest in the amount and it could not be used to offset the tax liability. The court noted Section 132(11) of the Income Tax Act was inapplicable. The application was dismissed without costs, with further proceedings set for 15.02.2018. Case-Laws Income Tax Mon, 13 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=350864