Karnataka HC Rejects Review Petition by Revenue Against Release of Seized ₹2 Crore

Deputy Director of Income Tax Vs CMS Info Systems Ltd. (Karnataka High Court) Karnataka HC: Review Petition by Revenue Against Release of Seized ₹2 Crore Dismissed – Matter Remains Remitted for Fresh Consideration u/s 132B The Karnataka High Court (Kalaburagi Bench) dismissed a review petition filed by the Revenue challenging its earlier order dated 14.11.2024 in W.P. No.200997/2023. The earlier order had set aside the rejection of assessee’s application u/s 132B seeking release of seized cash of ₹2 crore & remitted the matter back to the Deputy Director of Income Tax for fresh con...