TMI Blog1996 (8) TMI 27X X X X Extracts X X X X X X X X Extracts X X X X ..... zed from the premises of the petitioner at the time of search dated January 12, 1995, by the income-tax authority. (iii) to issue a writ, order or direction, directing respondent No. 1 to return a sum of Rs. 45,500 which was withdrawn from savings bank account No. 19538 of the Punjab National Bank, Eastern Kutchery Road, Meerut, on January 16, 1995. (iv) to issue a writ, order or direction directing the respondent No. 1 to hand over the entire seized assets and documents to the assessing authority, Income-tax Officer, Ward-6, Meerut. (v) to issue a writ, order or direction which this court may deem fit and proper in the circumstances of the case ; and (v) to award the costs of the petition to the petitioners." The petitioners' cas ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ated March 29, 1995, the petitioners as well as respondent No. 1, namely, the Assistant Director of Income-tax (Investigation), Meerut, were restrained from encashing various fixed deposit receipts standing in the names of the petitioners as well as in the names of other persons, which were seized from the premises of the petitioners at, the time of the search on January 12, 1995. In the rejoinder affidavit filed by the petitioners, it has been stated that in spite of the interim order aforesaid, respondent No. 1, by exercising pressure on the bank got a Pay Order No. 026912 dated March 29, 1995, for Rs. 2,66,734 prepared by the bank manager in favour of the Commissioner of Income-tax, Meerut, towards encashment of various fixed deposits ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... respondents Nos. 1 and 2. The petitioners now restrict the reliefs claimed by them only to the extent that a sum of Rs. 45,500 withdrawn from the Savings Bank Account No. 19538 with the Punjab National Bank, Eastern Kutchery Road, Meerut, on January 16, 1995, be directed to be redeposited by the respondents in the said bank and, similarly, the sum of Rs. 2,66,734 for which the Union Bank of India, Delhi Road, Meerut, issued a bank draft/pay order dated March 29, 1995, in the name of the Commissioner of Income-tax, Meerut, in respect of the various fixed deposit receipts in the names of the petitioners, individually or jointly, be reinvested in the fixed deposit receipts and that the respondents be restrained from encashing other fixed dep ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... more of the Acts specified in clause (a) of sub-section (1) of section 230A in respect of which such person is in default or is deemed to be in default, and retain in his custody such assets or part thereof as are in his opinion sufficient to satisfy the aggregate of the amounts referred to in clause (ii), (iia) and (iii) and forthwith release the remaining portion, if any, of the assets to the person from whose custody they were seized: Provided that if, after taking into account the materials available with him, the Income-tax Officer is of the view that it is not possible to ascertain to which particular previous year or years such income or any part thereof relates, he may calculate the tax on such income or part, as the case may be, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s, in our view, wholly unauthorised. This writ petition is, therefore, partly allowed and it is directed-- (i) that respondents Nos. 1 and 2 are directed to deposit back a sum of Rs. 45,500 withdrawn from the petitioner's Savings Bank Account No. 19538 with the Punjab National Bank, Eastern Kutchery Road, Meerut. This shall be done within 15 days from the date a certified copy of this order is presented by the petitioners before respondent No. 2 ; (ii) respondents Nos. 1 and 2 are directed to take steps to inform the Union Bank of India, Delhi Road, Meerut, that the bank draft/pay order issued in favour of the Commissioner of Income-tax, Meerut, for a sum of Rs. 2,66,734 may be cancelled and the respective deposit receipts in respect ..... X X X X Extracts X X X X X X X X Extracts X X X X
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