https://www.taxtmi.com/caselaws?id=767217 Specified bank notes seized before the exchange deadline could still be deposited after their return where the notes were later correlated with their serial numbers and verified. The Bombay High Court treated the statutory scheme under Section 5(a) of the Specified Bank Notes (Cessation of Liabilities) Act, 2017 and Rule 2(a) of the 2017 Rules as satisfied once identification of the notes was established, rejecting the objection that the Reserve Bank could not accept them for want of earlier identification. The petitioners were therefore entitled to deposit the identified notes and receive the equivalent value on verification. en-us Thu, 27 Feb 2025 00:00:00 +0530 Wed, 12 Mar 2025 09:06:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767217 Specified bank notes seized before the exchange deadline could still be deposited after their return where the notes were later correlated with their serial numbers and verified. The Bombay High Court treated the statutory scheme under Section 5(a) of the Specified Bank Notes (Cessation of Liabilities) Act, 2017 and Rule 2(a) of the 2017 Rules as satisfied once identification of the notes was established, rejecting the objection that the Reserve Bank could not accept them for want of earlier identification. The petitioners were therefore entitled to deposit the identified notes and receive the equivalent value on verification. Case-Laws Income Tax Thu, 27 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767217