https://www.taxtmi.com/caselaws?id=759498 Where the foundational restraint had been rescinded and no fresh restraint subsisted, security furnished only to secure compliance with that restraint could not be retained without continuing legal basis. The Delhi High Court noted that the Look Out Circular had been cancelled, no fresh Look Out Circular was in force, and the investigation had culminated in an assessment order. On that basis, the continued retention of the fixed deposit receipt had no surviving justification, and the petitioner was held entitled to its release. en-us Tue, 13 Aug 2024 00:00:00 +0530 Thu, 03 Oct 2024 07:50:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759498 Where the foundational restraint had been rescinded and no fresh restraint subsisted, security furnished only to secure compliance with that restraint could not be retained without continuing legal basis. The Delhi High Court noted that the Look Out Circular had been cancelled, no fresh Look Out Circular was in force, and the investigation had culminated in an assessment order. On that basis, the continued retention of the fixed deposit receipt had no surviving justification, and the petitioner was held entitled to its release. Case-Laws Income Tax Tue, 13 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759498