TMI Blog1996 (2) TMI 96X X X X Extracts X X X X X X X X Extracts X X X X ..... a mandamus directing the respondents to release the entire seized assets and money of the petitioner and to refund various amounts. We have heard Sri Rakesh Kumar Agarwal, learned counsel for the petitioner, and Sri Shekhar Srivastava, learned counsel for the Department. The petitioner is a Hindu undivided family of which Sri Ramendra Kumar Agarwal is a karta. The petitioner is carrying on the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mmissioner of Income-tax (Appeals) who allowed the appeal and deleted the addition of Rs. 2,303 and Rs. 4,23,517. He further allowed the claims of Rs. 6,250 and Rs. 993, which the Assessing Officer had omitted to allow. True copy of the Commissioner of Income-tax (Appeals) order is annexed as annexure- ' 3 ' to this writ petition. Thereafter we are informed that the Department has filed a second a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . 20 lakhs. Of course the Department can realise income-tax dues against the petitioner having recourse to Schedule II of the Income-tax Act, but it is not justified in demanding bank guarantee of Rs. 20 lakhs. Hence the assessment order is arbitrary, illegal and is hereby set aside. The writ petition is allowed. The petitioner's goods will be released. - - TaxTMI - TMITax - Income T ..... X X X X Extracts X X X X X X X X Extracts X X X X
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