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2010 (11) TMI 403 - HC - Income TaxPower to requisition books of account, etc - it is clear that the cash and silver seized by GRPF, Katni, is undisclosed and that Shri Vipul Jain or Shri Kamlesh Soni have not disclosed to the Department the true nature of it and thus there is reason to believe that they will not disclose their affairs of business to the Department in response to statutory notices - The record produced by the respondents clearly establishes that respondent No. 1 was in possession of the information on the basis of which he had reason to believe that cash and silver which were seized represented assets which would not have been disclosed for the purpose of income-tax - There is a direct nexus between material coming notice of the authority and formation of belief for issuance of warrant under section 132A - Decided against the assessee
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