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2015 (2) TMI 723 - HC - Income TaxUnaccounted money - addition being undisclosed income - Tribunal deleted the addition as no search warrant was issued u/s 132 in the name of the assessee, so no notice can be issued u/s 158BC - assessee prayed refund of the seized cash - Held that:- In the instant case ₹ 17,00,000/- were requisitioned from the S.H.O. Kotwali, Allahabad under Section 132A of the Act, which was seized from three persons. Therefore, the provision of Section 158BD is applicable in the instant case, but the same was not applied by the Department. The assessment was framed after issuing notice under Section 158BC which is not applicable in the instant case, since the assessee was neither searched nor assets were requisitioned from him under Section 132A of the Act. Further, there were no warrant of authorization in the name of the assessee. No reason to interfere with the impugned order passed by the Tribunal - Petitioner's application for refund directed to be decided within a period of four months from today . - Decided against revenue.
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