806/CBDT.

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....he procedure to be adopted for safe custody of valuable assets seized in the course of a search. 2. Instances have come to the notice of the Board where action has not been taken immediately after the search for depositing the cash seized in the Personal Deposit account of the Commissioner as required under sub-rule 12 of Rule 112 of the Income Tax Rules, 1962. Board desire that cash seized in th....

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....e assessee claimed to have obtained the cash on a particular date, whereas the currency notes were found to bear the RBI stamp which indicated that the notes were actually issued on a date subsequent to the date claimed by the assessee. In a case of this type, the retention of currency notes is necessary as a piece of evidence for launching prosecution to prove the falsity of assessee's claim.....