https://www.taxtmi.com/caselaws?id=798116 Retention of seized cash under Section 132B cannot continue after completion of the searched person's assessment where no demand relating to the cash was raised and the cash was accepted as belonging to a non-searched assessee. Reassessment proceedings subsequently initiated against that non-searched assessee do not preserve the statutory charge or justify continued withholding. Release of the net seized amount, after adjustment of the stated tax liability, was directed. Whether the cash could initially have been treated as self-assessment tax remains for determination in the admitted appeal. en-us Wed, 19 Aug 2026 00:00:00 +0530 Wed, 02 Sep 2026 08:30:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798116 Retention of seized cash under Section 132B cannot continue after completion of the searched person's assessment where no demand relating to the cash was raised and the cash was accepted as belonging to a non-searched assessee. Reassessment proceedings subsequently initiated against that non-searched assessee do not preserve the statutory charge or justify continued withholding. Release of the net seized amount, after adjustment of the stated tax liability, was directed. Whether the cash could initially have been treated as self-assessment tax remains for determination in the admitted appeal. Case-Laws Income Tax Wed, 19 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798116