ASST. COMMISSIONER OF INCOME TAX Vs. MOHAMMED SALIH

JUDGEMENT

(1.) Is cash in a Bank account 'property' liable to attachment under Sec. 281B of the Income Tax Act, 1961("the Act")? On the discussions in this judgment we hold, 'Yes'.

(2.) On 12/4/2022, the police seized a huge amount of cash (?1,56,00,000/-) from a car in which respondents 1 and 2 in the writ appeal were riding. The seized amount was produced before the Judicial First Class Magistrate's Court.

(3.) On application by the Department under Sec. 132A of the Act, the Court directed release of the amount to the Department. Respondents 1 and 2 herein and others challenged the said order before this Court in Crl.M.C. Nos.5605/2022 and 5591/2022. This Court as per order dtd. 21/12/2023, directed release of the cash to them on furnishing a bond for the amount. The amount was accordingly released.