2020 (1) TMI 1194 - HC - Income Tax

Refund the amount seized during the search proceedings along with interest - HELD THAT - There is no dispute about the fact that the petitioner is entitled to refund of the amount seized during the course of the proceeding under Section 132 - assessment order making additions stands reversed by the CIT (Appeals) and the additions have been deleted. We therefore direct the respondents to forthwith refund the amount seized during the search proceedings alongwith interest in accordance with law. The said amount shall be refunded by whichever authority it is presently held alongwith interest as aforesaid.

Summary

The Delhi High Court directed the respondents to refund the amount seized during Income Tax Act proceedings to the petitioner along with interest, as the assessment order making additions was reversed. Compliance was scheduled for 2nd March, 2020.