https://www.taxtmi.com/caselaws?id=417192 Interim custody of seized cash under Section 451 CrPC does not decide title, and where the source of cash remains unexplained the Income Tax Department may be preferred for custody under the scheme of Sections 131, 132A, 132B and 153A of the Income-tax Act. The Magistrate's power is limited to preservation and interim custody of the property; it cannot be used to estimate tax exposure or reserve a fixed percentage of the cash to secure likely revenue claims. The statutory procedure for assessment and adjustment of liability must be left to the income tax authorities, after which the person from whom the cash was seized may seek release in accordance with law. en-us Mon, 10 Jan 2022 00:00:00 +0530 Sat, 30 Apr 2022 16:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417192 Interim custody of seized cash under Section 451 CrPC does not decide title, and where the source of cash remains unexplained the Income Tax Department may be preferred for custody under the scheme of Sections 131, 132A, 132B and 153A of the Income-tax Act. The Magistrate's power is limited to preservation and interim custody of the property; it cannot be used to estimate tax exposure or reserve a fixed percentage of the cash to secure likely revenue claims. The statutory procedure for assessment and adjustment of liability must be left to the income tax authorities, after which the person from whom the cash was seized may seek release in accordance with law. Case-Laws Income Tax Mon, 10 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417192