https://www.taxtmi.com/caselaws?id=14890 The court directed the release of the seized cash amount to the petitioners upon furnishing bank guarantees to the satisfaction of the Director of Enforcement. The judgment addressed the conflict between the Income-tax Department and FERA authorities, clarifying the applicability of section 132A of the Income-tax Act and resolving the pending demand issue. The decision ensures safeguards for the Income-tax Department's interests while allowing the petitioners to access the seized funds. en-us Fri, 28 Apr 2000 00:00:00 +0530 Mon, 27 Jul 2009 10:10:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14890 The court directed the release of the seized cash amount to the petitioners upon furnishing bank guarantees to the satisfaction of the Director of Enforcement. The judgment addressed the conflict between the Income-tax Department and FERA authorities, clarifying the applicability of section 132A of the Income-tax Act and resolving the pending demand issue. The decision ensures safeguards for the Income-tax Department's interests while allowing the petitioners to access the seized funds. Case-Laws Income Tax Fri, 28 Apr 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14890