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2014 (7) TMI 349 - GUJARAT HIGH COURTRelease of silver weighing 251.380 kg – silver has not be released despite the order of assessment has been passed - Held that:- The AO had already passed an order to release 251.380 kg of silver - revenue has submitted that however in view of the fact that 251.380 kg of silver, which is required to be returned to the petitioner, is not identified and/or verified, as at the initial stage when the cash, gold and silver were seized, all were mixed, on proper identification and verification with the assistance of the representative of the petitioner and on producing the indemnity bond of the like amount so that in future if anybody claims the same, the same can be recovered from the petitioner, the respondents have no objections and as such cannot have any objection to return 251.380 kg of silver to the petitioner –revenue is directed to release and/or return 251.380 kg of silver, which was seized under panchnama which was drawn dated 03/03/2004 – Decided in favour of Assessee.
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