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2010 (8) TMI 693 - PUNJAB AND HARYANA HIGH COURTSearch and seizure under section 132(1) - detection by excise authorities - there was no valid explanation in respect of cash of Rs. 10,25,000 which was found from the possession of the assessee and was seized after intimation having been received from the Central Excise Authorities. - Held that:- the issue regarding challenging of validity or otherwise of search and seizure under section 132(1) of the Act is no longer in dispute as a Division Bench of this Court in CIT v. Paras Rice Mills (2008 -TMI - 33840 - PUNJAB AND HARYANA HIGH COURT) has decided the issue against the assessee and in favour of the revenue. - validity of search and seizure operation could not be gone into by the Tribunal in the appeal proceedings. Concealed income - cash seizure - held that:- Tribunal while arriving at the conclusion that Rs. 10,25,000 cash seized was on account of concealed income of the assessee has merely relied upon the order of the Assessing Officer and has not given any basis or reasons for reversing the finding recorded by the CIT (A). Further, the plausibility of the explanation submitted by the assessee on the basis of sales bill No. 46 to 56 produced by him also requires to be considered by the Tribunal. - case remanded back to tribunal.
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