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TMI Blog2017 (6) TMI 251X X X X Extracts X X X X X X X X Extracts X X X X ..... ncome tax department at New Delhi seized the amount and thereafter when the amount was not released and no action was taken for a period of about two years, this writ petition has been filed. In the meanwhile, the petitioners were issued with summons vide Annexure-5 on 24.03.2014 and immediately on 12.05.2014 the petitioners appeared before the authority in pursuance to the said notice and it is stated that the documents and explanation with regard to the amount was submitted. Thereafter, when nothing was done, the petitioners filed this writ petition and sought for release of the amount in question. On notice being issued the Department authorities have filed a counter affidavit and that only justification for retaining the amount is the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... quisition is made, or the amount of liability determined on completion of the assessment under Chapter XIV-B for the block period, as the case may be] (including any penalty levied or interest payable in connection with such assessment) and in respect of which such person is in default or is deemed to be in default, may be recovered out of such assets." On analyzing the aforesaid provision, it is clear that the amount seized under Section 132 can be utilized for the purpose of discharging the liability already determined on completion of the assessment proceedings and if that be the position then at best the amount that could be retained for discharging the liability will only be with regard to the assessment made in this particular case ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2004 and 2004-2005, out of which according to petitioners showing for the assessment year 2002-2003 and for the year 2004-2005 certain amount has already been paid by them as is detailed in para 5 of their rejoinder along with documents Annexures 8/A and 8/B. In view of the aforesaid, we are very clear in our mind that the amount of Rs. 30 lacs retained by the Department cannot be permitted any further. They are liable to return the same after adjusting the liability for the years 2002-2003 and 2004-2005 that also after causing an enquiry with regard to the amount already paid by the petitioners as deailed in para 5 of the rejoinder. The remaining amount should be returned back to the petitioners after causing an enquiry with regard to the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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