https://www.taxtmi.com/caselaws?id=766495 Interest is payable on seized money under section 132B of the Income-tax Act, 1961 once the prescribed 120-day period after execution of a search or requisition authorisation expires, subject to the statutory adjustments and exceptions governing seized assets. The Delhi High Court applied that framework to treat the refunded amount as carrying interest for the relevant period, and a cheque for the calculated interest was handed over and accepted. The principal amount remained open to be sought separately from the Registrar General, and the contempt petition was treated as satisfied. en-us Fri, 14 Feb 2025 00:00:00 +0530 Wed, 26 Feb 2025 08:17:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766495 Interest is payable on seized money under section 132B of the Income-tax Act, 1961 once the prescribed 120-day period after execution of a search or requisition authorisation expires, subject to the statutory adjustments and exceptions governing seized assets. The Delhi High Court applied that framework to treat the refunded amount as carrying interest for the relevant period, and a cheque for the calculated interest was handed over and accepted. The principal amount remained open to be sought separately from the Registrar General, and the contempt petition was treated as satisfied. Case-Laws Income Tax Fri, 14 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766495