Review of release of seized assets

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....for release of seized assets in an increasing number of cases. The Board received references from VIPs as well in this regard. It has been noticed that in certain cases, assets seized about 20 years back have not been released. The interest for non payment of tax has been levied in spite of cash being available for appropriation in terms of sub-section(1), read with sub-section (3) of Section 132B....

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.....4.1995 to 31.3.2002 by 15th May, 2006. In respect of searches conducted after 31.3.2000, necessary information have to be included in the quarterly report being prescribed separately. The DGslT(Inv.) may kindly ensure that the above schedule is strictly maintained. Yours faithfully (Vijay Kumar) Director(Inv.II/IIl) ANNEXURE-I PROFORMA FOR REVIEW OF RELEASE OF SEIZED ASSETS   S. N....