https://www.taxtmi.com/caselaws?id=446729 Specified bank notes seized by a law enforcement agency before the appointed day may be deposited and refunded where the statutory seizure proceedings have concluded. Proviso (d) to Section 5 of the Specified Bank Notes (Cessation of Liabilities) Act, 2017 permits holding, transfer or receipt of such notes on production of required authorising documents when seizure occurred at a law enforcement agency's instance. Completion of proceedings under the Income-tax Act, with the seized amount treated as additional income and related tax and interest paid, supports return of the equivalent amount. Demonetisation does not by itself bar refund in these circumstances. en-us Thu, 30 Nov 2023 00:00:00 +0530 Sat, 09 Dec 2023 09:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446729 Specified bank notes seized by a law enforcement agency before the appointed day may be deposited and refunded where the statutory seizure proceedings have concluded. Proviso (d) to Section 5 of the Specified Bank Notes (Cessation of Liabilities) Act, 2017 permits holding, transfer or receipt of such notes on production of required authorising documents when seizure occurred at a law enforcement agency's instance. Completion of proceedings under the Income-tax Act, with the seized amount treated as additional income and related tax and interest paid, supports return of the equivalent amount. Demonetisation does not by itself bar refund in these circumstances. Case-Laws Income Tax Thu, 30 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446729