https://www.taxtmi.com/caselaws?id=766599 Where seized gold and jewellery are claimed as stock-in-trade, the High Court held that the grievance should first be placed before the revenue authorities, especially when no prior specific demand for release had been shown and the efficacy of the statutory remedy was in issue. The petitioners were granted time to make a detailed representation on the basis of the proviso to Section 132(1)(iii) of the Income-tax Act, 1961, and the respondents were directed to consider it by a reasoned order after hearing them, including on the claim that the seized articles could not be retained. en-us Mon, 24 Feb 2025 00:00:00 +0530 Fri, 28 Feb 2025 08:23:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766599 Where seized gold and jewellery are claimed as stock-in-trade, the High Court held that the grievance should first be placed before the revenue authorities, especially when no prior specific demand for release had been shown and the efficacy of the statutory remedy was in issue. The petitioners were granted time to make a detailed representation on the basis of the proviso to Section 132(1)(iii) of the Income-tax Act, 1961, and the respondents were directed to consider it by a reasoned order after hearing them, including on the claim that the seized articles could not be retained. Case-Laws Income Tax Mon, 24 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766599