Retention of Gold Upheld Because Section 132B Timeline Isn’t Mandatory

Rajesh Gupta & Ors. Vs ACIT (Delhi High Court) 120 Days Not Automatic Release: Delhi HC Upholds Retention of Seized Jewellery Pending AO’s Satisfaction u/s 132B The Delhi High Court, in Rajesh Gupta & Ors. vs ACIT, Central Circle-31 & Ors. (W.P.(C) No. 12433/2025, judgment dated 23.12.2025), dismissed the writ petition seeking release of gold coins and jewellery seized during a search conducted u/s 132 in October 2024. Jewellery worth about ₹3.88 crore was seized, though the Petitioners claimed that the entire jewellery was duly disclosed in their ITRs and Wealth-tax Returns an...