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2011 (2) TMI 47 - HC - Central ExciseSearch and Seizure - It is also stated that cash of66,05,000/- was recovered from the residence of the petitioner and on enquiry at the time of search, it was stated that the cash was related to the factory account and was kept in the house for safety reasons - The petitioner was not able to explain the source of cash recovered from his residence - Accordingly, it is submitted that the seizure is justified - The petitioner on the other hand contends the cash recovered pertains to transaction relating to sale of an immovable property with a third person Sanjay Singhal. Reliance is placed on purported documents. These all are disputed questions of fact which have to be gone into and examined during the course of the adjudication proceedings under the Central Excise Act, 1944. Various aspects including statements recorded, books of accounts and other material available is required to be examined and gone into. - Petitioner has to await the adjudication/appellate proceedings.
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