https://www.taxtmi.com/caselaws?id=12258 Section 132B(3) requires seized assets or sale proceeds remaining after discharge of liabilities under section 132B(1)(i) to be forthwith returned to the person from whose custody they were seized. On the stated facts, the petitioner had already paid the amount due under the Settlement Commission order, and the pending release request could not justify continued retention unless the respondents could show some further sum remained payable. The operative point is that once the stated liabilities are discharged, the statutory duty is to release the balance assets without delay. en-us Thu, 01 Aug 2002 00:00:00 +0530 Sat, 20 Feb 2010 12:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12258 Section 132B(3) requires seized assets or sale proceeds remaining after discharge of liabilities under section 132B(1)(i) to be forthwith returned to the person from whose custody they were seized. On the stated facts, the petitioner had already paid the amount due under the Settlement Commission order, and the pending release request could not justify continued retention unless the respondents could show some further sum remained payable. The operative point is that once the stated liabilities are discharged, the statutory duty is to release the balance assets without delay. Case-Laws Income Tax Thu, 01 Aug 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12258