https://www.taxtmi.com/acts?id=51779 Section 250 permits recovery from assets seized or requisitioned to meet existing tax liabilities in default, liabilities determined on completion of assessment or for block periods, and liabilities from settlement applications; the Assessing Officer may apply money or other assets toward those liabilities, release assets on prescribed conditions with senior approval and within one hundred and twenty days, treat non monetary assets as distraint for prescribed recovery, return any surplus to the custodian, and the Central Government pays simple interest on the net amount under a specified formula for the period from the day after the 120 day release deadline to completion of assessment. en-us Thu, 14 Aug 2025 12:06:20 +0530 Sat, 31 Jan 2026 12:52:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=51779 Section 250 permits recovery from assets seized or requisitioned to meet existing tax liabilities in default, liabilities determined on completion of assessment or for block periods, and liabilities from settlement applications; the Assessing Officer may apply money or other assets toward those liabilities, release assets on prescribed conditions with senior approval and within one hundred and twenty days, treat non monetary assets as distraint for prescribed recovery, return any surplus to the custodian, and the Central Government pays simple interest on the net amount under a specified formula for the period from the day after the 120 day release deadline to completion of assessment. Act-Rules Income Tax Thu, 14 Aug 2025 12:06:20 +0530 https://www.taxtmi.com/acts?id=51779