https://www.taxtmi.com/caselaws?id=19865 Accepted explanations for jewellery and fixed deposit receipts seized in a search, coupled with the absence of any determined tax liability and no further authorisation for retention, required release of the assets. The explanations of the petitioner and her mother were accepted in the order under section 132(5) of the Income-tax Act, 1961, and the record showed no tax liability had been assessed against the petitioner. On that basis, the petitioner was entitled to receive back the jewellery and fixed deposit receipts, and the respondents were directed to return them. en-us Fri, 22 Apr 1994 00:00:00 +0530 Tue, 10 Nov 2009 12:42:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19865 Accepted explanations for jewellery and fixed deposit receipts seized in a search, coupled with the absence of any determined tax liability and no further authorisation for retention, required release of the assets. The explanations of the petitioner and her mother were accepted in the order under section 132(5) of the Income-tax Act, 1961, and the record showed no tax liability had been assessed against the petitioner. On that basis, the petitioner was entitled to receive back the jewellery and fixed deposit receipts, and the respondents were directed to return them. Case-Laws Income Tax Fri, 22 Apr 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19865