Income Tax Department's Election Cash Seizure Violated Section 132; Ordered to Refund with 10% Interest.

Income Tax Department's Election Cash Seizure Violated Section 132; Ordered to Refund with 10% Interest. https://www.taxtmi.com/highlights?id=46926 Seizure of cash in election by ECI - IT Dept. has completely failed to appreciate that neither the seizure was u/s 132 nor the pre-requisite to an exercise of search and seizure u/s 132 were satisfied nor the requisition satisfies the provisions of Section 226(3), which is the only provision enabling the IT Dept. to take over the money apart from the search and seizure - directed to refund with interest @ 10% en-us Mon, 03 Jun 2019 09:40:27 +0530 Mon, 03 Jun 2019 09:40:27 +0530 TaxTMI RSS Generator Income Tax Department's Election Cash Seizure Violated Section 132; Ordered to Refund with 10% Interest. https://www.taxtmi.com/highlights?id=46926 Seizure of cash in election by ECI - IT Dept. has completely failed to appreciate that neither the seizure was u/s 132 nor the pre-requisite to an exercise of search and seizure u/s 132 were satisfied nor the requisition satisfies the provisions of Section 226(3), which is the only provision enabling the IT Dept. to take over the money apart from the search and seizure - directed to refund with interest @ 10% Highlights Income Tax Mon, 03 Jun 2019 09:40:27 +0530 https://www.taxtmi.com/highlights?id=46926