https://www.taxtmi.com/caselaws?id=27595 The court upheld the legality and jurisdiction of the seizure of Rs. 10,00,000 under Section 132(1) of the Income-tax Act. It dismissed the petitioner's claims regarding the obligation of the State Bank of India to invest the seized amount in Special Bearer Bonds and the applicability of promissory estoppel. The court found no merit in the petitioner's arguments and rejected the request for leave to appeal to the Supreme Court, stating that the case did not involve a substantial question of law of general importance. en-us Mon, 14 Dec 1981 00:00:00 +0530 Sat, 13 Feb 2010 17:33:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27595 The court upheld the legality and jurisdiction of the seizure of Rs. 10,00,000 under Section 132(1) of the Income-tax Act. It dismissed the petitioner's claims regarding the obligation of the State Bank of India to invest the seized amount in Special Bearer Bonds and the applicability of promissory estoppel. The court found no merit in the petitioner's arguments and rejected the request for leave to appeal to the Supreme Court, stating that the case did not involve a substantial question of law of general importance. Case-Laws Income Tax Mon, 14 Dec 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27595