TMI Blog2021 (3) TMI 87X X X X Extracts X X X X X X X X Extracts X X X X ..... proceedings would lead to a conclusion as to whether petitioner or any other person is its rightful claimant. This Court in writ jurisdiction is not in a position to determine a question of fact as to whom does the money belong to lawfully. Respondent department has on instructions fairly stated that assessment proceedings would be concluded within a time-frame and if the assessment proceedings leads to a finding that the amount in question falls within the taxable income of a concerned person/assessee and the tax thereupon stands paid or partly paid, the admissible amount or part of it could be refunded to the person / assessee concerned. This Court is of the opinion that the stand of the respondent department is fair. In those circ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d this Court, inter alia, seeking return of an amount of ₹ 91,35,000/- purportedly seized by the income tax authorities. Petitioner has questioned under what authority of law the purported seizure/requisitioning of the amount belonging to the petitioner has been made. Petitioner seeks quashing of the entire requisitioning proceedings initiated by the respondent - income tax authority and for that purpose, to call for the entire records pertaining to the purported seizure/requisition. According to the petitioner the seizure / requisition of the aforesaid amount is wholly illegal, arbitrary and without jurisdiction de hors the provisions of Section 132A of the Income Tax Act, 1961 read with Rule 112D of the Income Tax Rules, 1962 (herei ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Kolkata. 5. Learned counsel for the respondent department submits on instruction that the Assessing Officer is in the process of issuing notices for assessment proceedings upon the petitioner under Section 153-C of the Act and upon the other two persons namely Mr. Sanjay Agarwal and Mr. Sashi Kant Jha under Section 153A of the Act. As per his instruction, the assessment proceedings would be concluded in an expeditious manner within a time-frame and/or as may be directed by this Court. Petitioner's claim for return of the money has been resisted by the department challenging his locus standi at this stage in a writ proceeding. On conclusion of the assessment proceedings if the department is satisfied about source and genuineness of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ional Assessing Officer of the petitioner at Kolkata in respect of the seized money. The proceedings would lead to a conclusion as to whether petitioner or any other person is its rightful claimant. This Court in writ jurisdiction is not in a position to determine a question of fact as to whom does the money belong to lawfully. Learned counsel for the respondent department has on instructions fairly stated that assessment proceedings would be concluded within a time-frame and if the assessment proceedings leads to a finding that the amount in question falls within the taxable income of a concerned person/assessee and the tax thereupon stands paid or partly paid, the admissible amount or part of it could be refunded to the person / assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X
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