HC directive on interim custody of currency seized under IT Act

A Division Bench of the Kerala High Court has held that the competent authority under the Income Tax Act is entitled to seek interim custody of the currency notes seized during searches by officials. The Bench made the observation recently while answering a legal question referred to it by a single judge in view of divergent views by the High Court on the issue of seizure of currencies.

Published - September 21, 2024 03:25 am IST