https://www.taxtmi.com/caselaws?id=759324 Kerala HC held that Income Tax authorities can seek interim custody of seized currency notes under Section 451 of CrPC when they have reason to believe the assets represent undisclosed income. The court clarified that competent authorities under Sections 132A and 132B of the Income Tax Act are best suited to hold such assets during enquiry or trial, contrary to the view in R. Ravirajan case. However, the court rejected the six-month time limit imposed in Union of India case, stating disbursement directions can only be issued under Section 452 CrPC after conclusion of proceedings. The reference was answered upholding Union of India's approach with modifications. en-us Wed, 04 Sep 2024 00:00:00 +0530 Tue, 05 Nov 2024 17:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759324 Kerala HC held that Income Tax authorities can seek interim custody of seized currency notes under Section 451 of CrPC when they have reason to believe the assets represent undisclosed income. The court clarified that competent authorities under Sections 132A and 132B of the Income Tax Act are best suited to hold such assets during enquiry or trial, contrary to the view in R. Ravirajan case. However, the court rejected the six-month time limit imposed in Union of India case, stating disbursement directions can only be issued under Section 452 CrPC after conclusion of proceedings. The reference was answered upholding Union of India's approach with modifications. Case-Laws Income Tax Wed, 04 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759324