https://www.taxtmi.com/caselaws?id=465511 Seized ornaments and jewellery may be released to petitioner nos. 2 and 4 during pendency of proceedings if the department's interest is secured by an unconditional bank guarantee and an indemnity bond. The assets were valued by a government-approved valuer on a current basis, and release was considered appropriate only to that extent of protection. The petitioners were allowed to apply for release while their and the assessees' ownership claims were preserved for assessment proceedings. An indemnity bond in favour of the department was additionally required to protect against future claims by other family members. en-us Wed, 04 Sep 2019 00:00:00 +0530 Mon, 29 Dec 2025 18:53:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465511 Seized ornaments and jewellery may be released to petitioner nos. 2 and 4 during pendency of proceedings if the department's interest is secured by an unconditional bank guarantee and an indemnity bond. The assets were valued by a government-approved valuer on a current basis, and release was considered appropriate only to that extent of protection. The petitioners were allowed to apply for release while their and the assessees' ownership claims were preserved for assessment proceedings. An indemnity bond in favour of the department was additionally required to protect against future claims by other family members. Case-Laws Income Tax Wed, 04 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465511