Allowing the appeal of the revenue the against the single judge the court held\u00a0 that according to the instructions from the Magistrate\u2019s court no proceedings were pending before it and hence there was no question of any summons being issued by that court to produce the amounts, which were the subject matter of the crime, which itself had been closed. However that did not absolve the assessee from disclosing the source of the amounts in question before the Department, to their satisfaction. Proceedings had been initiated and the assessee had been participating in such proceedings. The limitation for concluding the proceedings under sections\u00a0153A\u00a0and\u00a0153B\u00a0was on March 31, 2021. Under section\u00a0132B\u00a0, the Department could retain the amounts until conclusion of the proceedings. In such circumstances, refund was not warranted. The order of the single judge was set aside.<\/p>\n
\u00a0<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" S. 132B : Application of seized or requisitioned assets – Amount seized by Excise Department received by Income-Tax Department From Magistrate’s Court \u2014 Magistrate ordering release of cash to department with direction that it be produced when summoned \u2014 Crime thereafter closed and no proceedings before Magistrate\u2019s Court -On Writ the Court held the proceedings pending before Income tax department – Refund not warranted [ S.153A, 153B ,Art , 226 ] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-17477","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-4xT","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/17477","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=17477"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/17477\/revisions"}],"predecessor-version":[{"id":22294,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/17477\/revisions\/22294"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=17477"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=17477"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=17477"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}