https://www.taxtmi.com/caselaws?id=392509 The court quashed the seizure of gold bullion and jewelry, directing delivery to the Chief Commissioner of Income Tax, Chennai for further investigation. The assessment order treating the seized gold as undisclosed income was also quashed, granting the petitioner liberty to challenge it before the Appellate Commissioner. The court held that the seizure lacked justification as the gold was for manufacturing purposes and should have been transferred to the Income Tax Officers in Chennai. Ownership of the gold was found to belong to the petitioners, not undisclosed income. en-us Wed, 12 Feb 2020 00:00:00 +0530 Fri, 21 Feb 2020 15:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392509 The court quashed the seizure of gold bullion and jewelry, directing delivery to the Chief Commissioner of Income Tax, Chennai for further investigation. The assessment order treating the seized gold as undisclosed income was also quashed, granting the petitioner liberty to challenge it before the Appellate Commissioner. The court held that the seizure lacked justification as the gold was for manufacturing purposes and should have been transferred to the Income Tax Officers in Chennai. Ownership of the gold was found to belong to the petitioners, not undisclosed income. Case-Laws Income Tax Wed, 12 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392509