Case Law Details
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 the Department to take custody of the seized cash. Learned Magistrate by order dated 26th March, 2013 permitted such prayer, however, subject to an undertaking to be furnished by the Department. Being aggrieved by such order, the Department approached this Court whereupon a learned Single Judge by order dated 6th October, 2015, directed the seized cash to be handed over to the Income Tax Department subject to the following conditions:-
“1) the petitioner representing the I.T. Department is permitted to complete the assessment proceedings in respect of the seized money in accordance with law;
2) that the original seized currency notes shall not be altered or substituted by the department, and shall be made available as and when required for the purpose of trial;
3) that after completion of assessment proceedings the refundable money, if any, shall be returned to the party entitled in accordance with law.
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