Withholding of seized gold in absence of any outstanding demand is unjustified

Praveenbhai Girdharilal Agarwal Vs PCIT (Gujarat High Court) Gujarat High Court held that since the order passed by the Appellate Authority has attained finality and no demand is outstanding against the appellant, it is unjustified to withhold the seized gold. Accordingly, directed to release the remaining gold at the earlier. Facts- During the course of search and seizure, carried out u/s. 132 of the Income Tax Act, 1961, a parcel containing gold, weighing total 720.34 grams, was intercepted and seized by Respondent No.4 on 27.10.2017. The assessment proceedings were carried out, u/s. 153C of...