Retention and application of seized or requisitioned assets

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..... ooks of accounts or documents, (hereinafter referred to as 'assets') seized under section 139 or requisitioned under section 140;or (b) by any other mode laid down under this Code. (2) The amount of any liability shall be the aggregate of - (a) the amount of any liability existing under this Code, the Income-tax Act, 1961, the Wealth-tax Act, 1957, the Gift-tax Act, 1958, the Inter .....

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..... g Officer may recover the existing liability referred to in clause (a) of sub-section (2) and release the remaining portion of the asset, if any, within a period of one hundred and twenty days from the date on which last of the authorisations for search under section 139 was executed, to the person from whose custody the assets were seized, if - (a) an application is made by the person withi .....

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..... abilities referred to in sub-section (1) are discharged. (6) The Assessing Officer may release any seized or requisitioned asset (other than cash) before making assessment in consequence of search or requisition, if the concerned person deposits with the Assessing Officer an amount of money equal to the value of such asset on the date of the release and the amount so deposited shall be deemed .....

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