9911796707
TMI Blog1975 (12) TMI 3X X X X Extracts X X X X X X X X Extracts X X X X ..... iness is said to be at Mehmedabad, with branches at Surat and Bombay. The petitioners applied for registration of the firm on April 7, 1971, and had time to file their return of income up to June 30, 1972. It has been claimed that the firm had large sums of money in cash as well as "hundis" and other bills of exchange which formed its stock-in-trade and that there was no justification for thinking that it would not do what was required to be done under the law relating to income-tax. The firm had a sum of Rs. 12,00,000 as cash on January 10, 1972, which is said to have been duly entered in its books of account in the Bombay branch office. The grievance of the petitioners is that some of the respondents entered these premises on January 10, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lso prayed for the restoration of the property which has been seized by the income-tax authorities. It has been pointed out in the petition that three similar writ petitions were pending in this court, including Writ Petition No. 446 of 1971, Pooran Mal v. Director of Inspection (Investigation). The respondents have admitted the search and the seizure of the property, but have stated that this was done because the Commissioner of Income-tax, Gujarat-I, respondent No. 1, had reasons to believe that the petitioners would not produce their books of account, etc., even though they would be useful to the department for taking proceedings under the Act. It has also been stated that there was enough material before the Commissioner for exercisin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of rules 112B and 112C of the Rules was not the subject-matter of examination in Pooran Mal's case, and that it would be necessary for this court to examine that part of the controversy, as and when it is permissible to do so, with reference to the provisions of article 14 of the Constitution. We have gone through rules 112B and 112C of the Rules. Rule 112B relates to the release of the articles seized under section 132(5) of the Act, and merely provides that where, in pursuance of that section, any assets or part thereof have to be released, the Income-tax Officer shall forthwith deliver the same to the person from whose custody they were seized. Rule 112C provides for the release of the remaining assets, and it is to the effect that the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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