Friday 16 October 2015

Allahabad HC directs revenue to pay interest on assets seized above 19 years after completion of ass

IT : Where revenue had retained assets of assessee, viz., FDR, Indira Vikas Patra, Kisan Vikas Patra even after completion of assessment unreasonably for long duration without renewal and encashment thereof resulting in loss of interest which seized assets could have earned in normal course of things, revenue was directed to pay such interest to assessee

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