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KS JEWELERS PVT LTD. Versus DIRECTOR OF INCOME TAX

2015 (10) TMI 1279 - GUJARAT HIGH COURT

Authorization issued under section 132A - return of seizure of the ornaments seeked - Held that:- Silver ornaments weighing 219.841 KG came to be seized by the respondent authorities in exercise of powers under section 132A of the Income Tax Act, 1961 in the financial year 2011- 2012. Thereafter, the assessment came to be framed by the Assessing Officer of the petitioner at Varanasi for assessment year 2012-13, whereby after taking note of such seizure made by the authorities at Surat, the retur .....

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spondent authorities can no longer continue with the seizure of the ornaments in question and the same are required to forthwith be returned to the petitioner. - Decided in favour of assessee. - SPECIAL CIVIL APPLICATION NO. 14353 of 2013 - Dated:- 6-10-2015 - Ms. Harsha Devani And Mr. A.G.Uraizee, JJ For the Petitioner : MR SN Soparkar, Sr. Advocate with Mr B S Soparkar, Advocate For the Respondent : Mr M. R. Bhatt, Sr. Advocate with Mrs Mauna M Bhatt, Advocate JUDGMENT PER : HONOURABLE MS.JUST .....

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ation issued u/s 132A of the Income Tax Act, 1961 OR if there be any such authorization to quash and set aside the same being without jurisdiction and to direct the respondents to handover the seized silver ornaments to petitioner. (b) Quash and set aside the impugned order at ANNEXURE- D passed by Additional Sessions Judge, Surat and order passed by Learned JMFC at ANNEXURE- C as the same is passed without any authorization under section 132A of the Income Tax Act, 1961. 2. The petitioner is en .....

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silver ornaments back to Varanasi. During the search, the authorized person of the petitioner was found to be in possession of 219.841 kilograms silver ornaments worth ₹ 48,79,923/-. The Railway Police seized the silver ornaments from the authorised person of the petitioner and also registered a case under section 124 of the Bombay Police Act. It appears that the Railway Police informed the Income Tax Department about the seizure of silver ornaments pursuant to which, the Income Tax Depart .....

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g that subsequently in relation to the assessment year in question, the assessment came to be framed by the concerned Assessing Officer at Varanasi, wherein he had taken note of the fact of seizure by the authorities at Surat, but did not make any addition in respect of such seized ornaments and accepted the return filed by the petitioner. It was submitted that in the light of the fact that in the assessment order made in the case of the petitioner, no addition has been made in relation to the s .....

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