https://www.taxtmi.com/caselaws?id=282290 The court set aside respondent No.1's order regarding the seized amount under the Income Tax Act, directing the refund to be made within 12 weeks. It clarified that the amounts in escrow accounts belonged to the State of Punjab, not respondent No.4, and that the ownership determination based on PAN number was inconclusive. The issue of interest payment was left unresolved for potential future action by the petitioner. The petition was disposed of, affirming the ownership of funds and ordering the refund, with the interest question remaining open for further proceedings. en-us Tue, 17 Mar 2015 00:00:00 +0530 Thu, 01 Aug 2019 05:52:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282290 The court set aside respondent No.1's order regarding the seized amount under the Income Tax Act, directing the refund to be made within 12 weeks. It clarified that the amounts in escrow accounts belonged to the State of Punjab, not respondent No.4, and that the ownership determination based on PAN number was inconclusive. The issue of interest payment was left unresolved for potential future action by the petitioner. The petition was disposed of, affirming the ownership of funds and ordering the refund, with the interest question remaining open for further proceedings. Case-Laws Income Tax Tue, 17 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282290