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2011 (5) TMI 585 - HC - Income TaxSearch and seizure - appeal against the warrant of authorization - Held that:- It is a settled law that in exercise of powers under writ jurisdiction, High Court has inherent powers to enter into question of existence of information, which would provide a basis to form a reason to believe that the amount seized has not been or would not have been disclosed for the purpose of IT Act - In the case of Jai Bhagwan Om Prakash vs. Director of Inspection [1992 (3) TMI 8 - PUNJAB AND HARYANA HIGH COURT ] it has been observed that in case there is information with the authorities and the department had satisfied itself with regard to the authenticity of the information available and bonafide belief was found, it is not for the Court to make interference - The amount in question was arranged and sent to Indore by Head Office by effecting withdrawals from the firms bank account, no particulars of the bank account are described in the writ petition, Aslo the statement of account of the petitioner firm's bank account is also not annexed to the writ petition to substantiate that money in question was withdrawn from any known sources. Madhav Bhai Patel from whose possession the money was seized in his statement under section 131 did not state that the money in question belonged to petitioner's firm or it was handed over to him on behalf of the said firm & it is nowhere said in his statement that the money in question was to be delivered to the petitioner's firm. On the contrary, he has clearly stated that the person to whom the money was to be delivered, was to be disclosed on telephone, after he reaches Ahmedabad office of the firm. Thus, the explanation furnished by Madhav Bhai Patel was not found satisfactory by the department and the aforesaid material was in possession of the authority when on 11-6-2007 the warrant of authorization was issued - Writ petition is dismissed - Writ petition is dismissed
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