https://www.taxtmi.com/caselaws?id=784797 Where gold jewellery, bullion and cash/forex were seized during a search on the allegation that they represented undisclosed income, the HC considered whether continued retention was justified despite the Department not having finalised block assessment proceedings under s. 158BC and the petitioners asserting that the seized assets were explained/explainable. Balancing protection of Revenue with the petitioners' hardship, the HC accepted a conditional release mechanism by directing deposit of a specified amount as advance/self-assessment tax to secure any probable tax liability. Upon deposit and production of proof, the Department was directed to release the entire seized jewellery, bullion and cash/forex within seven days, and the writ petitions were allowed and disposed of. en-us Tue, 06 Jan 2026 00:00:00 +0530 Mon, 12 Jan 2026 09:31:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=784797 Where gold jewellery, bullion and cash/forex were seized during a search on the allegation that they represented undisclosed income, the HC considered whether continued retention was justified despite the Department not having finalised block assessment proceedings under s. 158BC and the petitioners asserting that the seized assets were explained/explainable. Balancing protection of Revenue with the petitioners' hardship, the HC accepted a conditional release mechanism by directing deposit of a specified amount as advance/self-assessment tax to secure any probable tax liability. Upon deposit and production of proof, the Department was directed to release the entire seized jewellery, bullion and cash/forex within seven days, and the writ petitions were allowed and disposed of. Case-Laws Income Tax Tue, 06 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=784797