This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Section 132B Interest Allowed on Seized Cash Refund Despite No Assessment: Jharkhand HC
Case Law Details
- Case Name
- Kamal Kumar Khetawat Vs Union of India (Jharkhand High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Jharkhand High Court
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Advertisement
Kamal Kumar Khetawat Vs Union of India (Jharkhand High Court)
The Jharkhand High Court considered a petition that, after release of the seized cash of ₹9,00,000 during the pendency of proceedings, was confined to the claim for interest on the refunded amount. The search and seizure under Section 132 of the Income Tax Act took place on 30.04.2019/01.05.2019, and no assessment proceedings were initiated within 120 days. Referring to Section 132B(4), the Court held that interest at one-half per cent per month (6% per annum) was payable from the expiry of 120 days from 01.05.201...
Author Info
