Refund Seized Money in New Currency Notes: HC to IT Dept.

Opposite party no.2-applicant has approached this Court seeking clarification that condition no.3 imposed in the order dated 6th October, 2015, directing the Income Tax Department to refund money, if any, to him upon completion of assessment proceeding to be made in new currency notes and not in the seized old currency notes which since 8th November, 2016 are no longer legal tender. It appears that a sum of Rs.2,37,34,200/- in old currency notes was seized by the Income Tax department from the opposite party no.2-assessee and an application was made before the learned Magistrate on behalf of t...