https://www.taxtmi.com/caselaws?id=29262 The court dismissed the petition seeking unconditional release of seized assets under article 226 of the Constitution. It upheld the retention of assets for potential future liabilities post the Commissioner's decision, clarifying that the assets could be utilized for liabilities arising from a fresh assessment. The court emphasized the legal provisions governing the retention and utilization of seized assets under the Income Tax Act, 1961, and highlighted the importance of understanding the statutory framework for assessments. en-us Fri, 16 Jul 1982 00:00:00 +0530 Thu, 11 Mar 2010 17:08:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29262 The court dismissed the petition seeking unconditional release of seized assets under article 226 of the Constitution. It upheld the retention of assets for potential future liabilities post the Commissioner's decision, clarifying that the assets could be utilized for liabilities arising from a fresh assessment. The court emphasized the legal provisions governing the retention and utilization of seized assets under the Income Tax Act, 1961, and highlighted the importance of understanding the statutory framework for assessments. Case-Laws Income Tax Fri, 16 Jul 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29262