Jewellery Release Ordered as Delay Violated CBDT Timelines & Increased Burden Unjustified

Sanjeet Singh and others Vs Principal Director of Income Tax (Investigation) (Punjab and Haryana High Court) The petition was filed seeking release of jewellery seized by the Income Tax authorities during a search conducted on 03.03.2022 at the residential premises of petitioner No.1. The petitioners contended that continued withholding of the jewellery was arbitrary and contrary to the CBDT circular dated 16.10.2023 governing release of seized assets. During the search, jewellery was seized from the residence and bank lockers of petitioner No.1, and separate panchnamas were prepared. The peti...