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2003 (10) TMI 42 - HC - Income TaxSearch and seizure proceedings - undisclosed income - reason to believe - jewellery found in locker - there was no material on the basis of which there could be a reason to believe that the valuables in locker, represented undisclosed income - It may be mentioned that the material on the basis of satisfaction under section 132 has to exist must be material brought to the knowledge of the Commissioner / Director prior to the search, and the authorities cannot rely on material found during the search -.the writ petition is allowed
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