https://www.taxtmi.com/caselaws?id=397300 Cash seized by police and produced before the criminal court under criminal procedure law cannot be released to the Income-tax Department directly once it is in court custody. The Department must pursue recovery through the statutory mechanism for payment towards tax dues after assessment becomes final. In proceedings for interim custody, the Magistrate cannot assess probable tax liability or divide the seized cash between competing claimants. On that reasoning, an order releasing part of the cash on security was stated to be legally unsustainable, and the amount was to remain in court custody until final assessment. en-us Fri, 03 Jul 2020 00:00:00 +0530 Tue, 27 Apr 2021 10:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397300 Cash seized by police and produced before the criminal court under criminal procedure law cannot be released to the Income-tax Department directly once it is in court custody. The Department must pursue recovery through the statutory mechanism for payment towards tax dues after assessment becomes final. In proceedings for interim custody, the Magistrate cannot assess probable tax liability or divide the seized cash between competing claimants. On that reasoning, an order releasing part of the cash on security was stated to be legally unsustainable, and the amount was to remain in court custody until final assessment. Case-Laws Income Tax Fri, 03 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397300