https://www.taxtmi.com/caselaws?id=801185 Interest on requisitioned cash accrues under Section 132B(4) at simple interest of one-half per cent for every month or part of a month, from the day after expiry of 120 days following execution of the requisition until completion of assessment. Where assessment determines no tax liability, Section 132B(3) requires forthwith release of remaining seized assets. Continued post-assessment retention may attract compensatory interest on restitutionary principles despite no express statutory provision for that period. Compensation for deprivation of the use of money does not depend on whether the Revenue earned interest on the retained cash. en-us Tue, 13 Oct 2026 00:00:00 +0530 Fri, 16 Oct 2026 05:20:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=801185 Interest on requisitioned cash accrues under Section 132B(4) at simple interest of one-half per cent for every month or part of a month, from the day after expiry of 120 days following execution of the requisition until completion of assessment. Where assessment determines no tax liability, Section 132B(3) requires forthwith release of remaining seized assets. Continued post-assessment retention may attract compensatory interest on restitutionary principles despite no express statutory provision for that period. Compensation for deprivation of the use of money does not depend on whether the Revenue earned interest on the retained cash. Case-Laws Income Tax Tue, 13 Oct 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=801185