2002 (1) TMI 1332 - HC - Income Tax

Summary

The Allahabad High Court ordered the release of seized money amounting to Rs. 16,32,500 in favor of the petitioners, subject to them providing security and a personal bond for cooperation in Income-tax Department proceedings. The court noted the absence of any rival claimant to the money seized from a third person, who was claimed to be the petitioners' driver. The decision of a cited case by the respondents was deemed inapplicable.