Jayeshkumar and Co. v. UOI (2022) 441 ITR 592 (Delhi) (HC)

S. 132B : Application of seized or requisitioned assets-Seizer of cash-Direction issued to return seized cash in accordance with assessment order. [S. 132B(3), Art. 226]

Assessee filed  a writ petition seeking directions to release the seized cash along with the interest.The court directed the Principal Commissioner to transfer the seized amount to the assessee’s Assessing Officer since the permanent account number of the assessee was based in Ahmedabad and the assessee to apply to his Assessing Officer for refund of the seized amount in accordance with the assessment order.