https://www.taxtmi.com/caselaws?id=786948 The CBDT circular governing release of seized jewellery required the competent authority to act within stipulated timelines once ownership, valuation, and adequate security were accepted. Where the assessee had furnished a bank guarantee covering the department's valuation and the delay in release was attributable to the revenue, the authorities could not demand enhanced security merely because gold prices later increased. Jewellery claimed by third parties was also releasable on filing ownership affidavits and the assessee's no-objection. The operative effect was that seized jewellery had to be released against the security already furnished, without prejudice from administrative delay. en-us Wed, 18 Feb 2026 00:00:00 +0530 Mon, 23 Feb 2026 07:38:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=786948 The CBDT circular governing release of seized jewellery required the competent authority to act within stipulated timelines once ownership, valuation, and adequate security were accepted. Where the assessee had furnished a bank guarantee covering the department's valuation and the delay in release was attributable to the revenue, the authorities could not demand enhanced security merely because gold prices later increased. Jewellery claimed by third parties was also releasable on filing ownership affidavits and the assessee's no-objection. The operative effect was that seized jewellery had to be released against the security already furnished, without prejudice from administrative delay. Case-Laws Income Tax Wed, 18 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=786948