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2021 (11) TMI 920 - ITAT PANJIValidity of search action initiated - receipt of search warrant - HELD THAT:- Section 132(1) of the Act clearly stipulates issuance of search warrant against whom the search was conducted in accordance with law. In the present case, the search was conducted in the premises of the assessee company which is duly admitted by the Managing Director of the company at the time of recording of her statement. Further from the paper book, we also found that the Managing Director of the company during the appellate proceedings filed an affidavit and in the affidavit he had stated that she is the Managing Director of the Company and the diary was found belonging to the assessee company. the search warrant was clearly issued against the assessee company and, therefore, the action on the part of the revenue to initiate the search proceedings against the assessee company was in accordance with law. In our view, the ld. CIT(A) has rightly relied upon the decision of Hon’ble Delhi High Court in the matter of MDLR Resorts Pvt. Ltd [2013 (12) TMI 1116 - DELHI HIGH COURT] and therefore, we do not find any error in the order of CIT(A). Search warrant was required to be received by Smt.Radha S. Timblo in her individual capacity as well as in the capacity of Managing Director and only one signature appears on the search warrant - We are of the opinion that in the Companies Act and also in the Income Tax Act, the Managing Director of the company is an authorised officer to file the proceeding for and on behalf of the company and is also entitled to receive the document on behalf of the company. Admittedly, in her statement, Smt. Radha S. Timblo has categorically mentioned that she is making statement in her individual capacity and being the Managing Director of M/s Timblo Pvt. Ltd.. Once the Managing Director of the company says that the search was carried out in the premises of the company, therefore, it is not option for the assessee to take diametrically opposite stand stating that no search was carried out in the premises of the assessee company. With the above observations, we found that the legal ground raised by the assessee in all the appeals is not maintainable. Accordingly, we dismiss all the appeals of the assessee.
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