https://www.taxtmi.com/caselaws?id=441088 The court ruled that the petitioner must file an application under Section 132B of the Income Tax Act, 1961, for the adjustment of seized cash against tax liability, as the writ petition was deemed premature. The order treating the petitioner as the beneficial owner of the seized cash under the Prohibition of Benami Property Transactions Act, 1988, was quashed. The case was remitted to the fifth respondent for reconsideration. The petitioner was directed to submit the necessary application within seven days, and the third respondent was instructed to resolve it within eight days, emphasizing prompt action due to concurrent proceedings. en-us Wed, 12 Jul 2023 00:00:00 +0530 Wed, 13 Dec 2023 14:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441088 The court ruled that the petitioner must file an application under Section 132B of the Income Tax Act, 1961, for the adjustment of seized cash against tax liability, as the writ petition was deemed premature. The order treating the petitioner as the beneficial owner of the seized cash under the Prohibition of Benami Property Transactions Act, 1988, was quashed. The case was remitted to the fifth respondent for reconsideration. The petitioner was directed to submit the necessary application within seven days, and the third respondent was instructed to resolve it within eight days, emphasizing prompt action due to concurrent proceedings. Case-Laws Benami Property Wed, 12 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441088