Power of Assessing Authority under Income Tax Act to Decide Application for Release of Seized Assets not Automatically Abated after 120 Days: Allahabad HC [Read Order]
Power of Assessing Authority under the Income Tax Act, 1961 to decide application for release of seized assets not automatically abated after 120 days, rules Allahabad HC
By Kalyani B. Nair - On April 21, 2024 2:30 pm - 2 mins read
In a significant ruling the Allahabad High Court held that the power of Assessing Authority under the Income Tax Act, 1961 to decide application for release of seized assets not automatically abated after 120 days. The writ petition has been filed to quash the seizure of Rs. 36,12,000/- dated 13.09.2022, effected under Section 132B(1)(i) of…
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