9911796707
TMI Blog2025 (2) TMI 1042X X X X Extracts X X X X X X X X Extracts X X X X ..... he Income Tax Act or the requisition u/s 132A of the Income Tax Act was executed.
Thus, pursuant to the notice issued to the non-applicant/petitioner, today a cheque mcontaining the income tax refund order has been handed over to learned counsel for the petitioner, towards the interest which has been calculated in terms of the aforesaid discussion. The same is accepted unconditionally. The copy of the said cheque is taken on record.
Petitioner shall be at liberty to approach the worthy Registrar General, Delhi High Court for refund of the principal amount which already stands deposited with this Court. X X X X Extracts X X X X X X X X Extracts X X X X ..... t under Chapter XIV-B for the block period, as the case may be] (including any penalty levied or interest payable in connection with such assessment) and in respect of which such person is in default or is [deemed to be in default, or the amount of liability arising on an application made before the Settlement Commission under sub-section (1) of section 245C, may be recovered out of such assets]: Provided that where the person concerned makes an application to the Assessing Officer within thirty days from the end of the month in which the asset was seized, for release of asset and the nature and source of acquisition of any such asset is explained] to the satisfaction of the Assessing Officer, the amount of any existing liability referred ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of such liabilities by the sale of such assets and such sale shall be effected in the manner laid down in the Third Schedule. (2) Nothing contained in sub-section (1) shall preclude the recovery of the amount of liabilities aforesaid by any other mode laid down in this Act. (3) Any assets or proceeds thereof which remain after the liabilities referred to in clause (i) of subsection (1) are discharged shall be forthwith made over or paid to the persons from whose custody the assets were seized. (4) (a) The Central Government shall pay simple interest at the rate of 3 [one-half per cent. for every month or part of a month] on the amount by which the aggregate amount of money seized under section 132 or requisitioned under section 132A, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hus, pursuant to the notice issued to the non-applicant/petitioner, today a cheque bearing No. 053498 dated 13.02.2025 containing the income tax refund order for a sum of Rs. 45,44,490/- has been handed over to learned counsel for the petitioner, towards the interest which has been calculated in terms of the aforesaid discussion. The same is accepted unconditionally. The copy of the said cheque is taken on record. 6. The petitioner shall be at liberty to approach the worthy Registrar General, Delhi High Court for refund of the principal amount which already stands deposited with this Court. 7. The present application is disposed of accordingly. CONT.CAS(C) 242/2018 8. In view of the aforesaid, the contempt petition is disposed of as sat ..... X X X X Extracts X X X X X X X X Extracts X X X X
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