1990 (5) TMI 28 - HC - Income Tax

Summary

The High Court of Allahabad ordered the Income-tax Department to return cash and jewellery seized during a raid to the petitioner upon furnishing a bank guarantee of Rs. 75,000, pending the final decision of the appeal before the Income-tax Appellate Tribunal. The court did not express an opinion on the applicability of section 241 of the Income-tax Act. The Department's appeal before the Tribunal was directed to be disposed of promptly.