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June 2024

Search and Seizure — Inordinate delay in return of seized cash — Assessee is entitled to interest on amount returned — Inordinate delay in returning amounts due to the assessee not justified.

By K B Bhujle | Ritu Punjabi, Advocates
Reading Time 3 mins

16 Vindoa B. Jain vs. JCIT &Ors

[2024] 462 ITR 58 (Bom.)

A.Y. 1991-92

Date of order: 13th September, 2023

Ss. 119, 143(2) and 144 of ITA 1961

Search and Seizure — Inordinate delay in return of seized cash — Assessee is entitled to interest on amount returned — Inordinate delay in returning amounts due to the assessee not justified.

During the previous year 1990-91, the Central Excise Department seized gold items weighing 1545.2 grams and cash of ₹2,60,000/-. The gold and cash were taken over by the Income-tax Department u/s. 132A of the Income-tax Act, 1961 (‘the Act’) and order u/s. 132(5) of the Act was passed retaining the said gold and cash. Scrutiny assessment was completed and order u/s. 143(3) was passed. The matter reached before the Tribunal and the issue was decided in favour of the assessee. No appeal against the said order was preferred by the Department before the High

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