This case pertains to the release of seized cash. The cash was ...

Seized cash returned to owner due to lack of evidence about illegal source.

September 12, 2024

Case Laws GST HC

This case pertains to the release of seized cash. The cash was found at the petitioner's office premises, and due to the lack of satisfactory evidence regarding its source, it was seized by the authorities. The High Court directed the respondents to remit the seized cash amount, along with the accrued interest, to the petitioner's bank account forthwith, as the cash was kept in a fixed deposit account by the respondents. The petition was disposed of accordingly.

View Source

← Previous Next →

This case pertains to the release of seized cash. The cash was ...

Seized cash returned to owner due to lack of evidence about illegal source.

September 12, 2024

Case Laws GST HC

You may also like:

Sections 132B, 140A, 153A and 234B of the Income Tax Act, 1961 were analyzed regarding adjustment of seized cash against tax liability. The appellants claimed that cash...

Interest u/s 234 B - Advance tax - Adjustment / Credit for cash as seized - there is no prohibition to adjust the seized cash with self assessment tax. What is...

The assessee denied the entries representing unaccounted cash expenditure, stating they were merely MIS reports for discussion purposes, containing approximate project...

The assessee's unexplained cash credits u/s 68 were deleted by the CIT(A) after accepting the submissions that the cash receipts from various sources like cash sales,...

Cash deposit during demonetization period treated as unexplained cash credit. Assessee's claim of introducing cash as capital in proprietary concern not accepted due to...

Smuggling - illegal importation of the seized gold - Confiscation of the gold and Indian currency - The Tribunal found no evidence linking the seized Indian currency to...

Search warrant u/s 132 - Retention of cash seized in search - A return of income would be filed by the petitioner for the annual year 2019-20 only after 31st March, 2020....

Transfer of property deemed as short-term capital gain due to holding period less than 36 months, disallowing deduction u/s 54F. Additions for difference in commission...

Revision u/s 263 - unexplained cash deposits - onus to prove - The Pr. CIT found the assessment order erroneous and prejudicial to the revenue's interests due to...

Addition on account of unexplained money u/s 69A - unaccounted cash - When the cash is found with an assessee, it is the duty of the assessee to prove the source of such...

Seized cash cannot be automatically released after 120 days u/s 132B's second proviso. This proviso applies only after the Assessing Officer determines the existing...

Key legal issues and the Tribunal's holdings: Agricultural land sold by assessee situated beyond municipal limits cannot be treated as capital asset u/s 2(14). Addition...

Addition u/s 69A - cash balance on account of withdrawal from different bank accounts - The mere fact of holding cash for a longer period was not a sufficient ground for...

TDS returns - Due dates - Rule 31A prescribing due dates for furnishing TDS statements amended

Unexplained money u/s 69A r.w.s. 115BBE - Cash seized in search - The assessee provided a cash reconciliation statement, demonstrating that the cash balance remained...

Quick Updates: