9911796707
TMI Blog2024 (1) TMI 337X X X X Extracts X X X X X X X X Extracts X X X X ..... ion has been filed questioning the validity of seizure/confiscation made by the respondents and seeking a direction to return/release the money, currency illegally confiscated/seized. 2. It is inter alia indicated in the writ petition that on the basis of input received by the Directorate of Enforcement, a search was conducted by its officers on 14/3/2019 at the business as well as residential premises of petitioner nos. 2, 3, 6, 7 & 8. During the course of search documents were summoned including Books of Account, Bill Book, Hard Drive, Mobile Phones and all the documents pertaining to the business transactions of petitioners. The officers of Enforcement Directorate seized Indian Currency as well as Foreign Currency, which was stock-in-tr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... seeking release of the seized assets, which were not responded to and ultimately a show cause notice was issued on 16/10/2020, to which the petitioners responded on 19/3/2021 and in the meanwhile made further representations for release of currency on 4/11/2020 and 24/11/2020. However, neither the representations have been decided nor the proceedings pursuant to the show cause notice have been concluded. It was further submitted that in view of the express provisions of second proviso to Section 132B and Section 132 of the Act, 1961, the respondents cannot sit over the seized asset/currency and they are bound to release the same. The inaction of the respondents in this regard is apparent and, therefore, they be directed to release the curr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e power shall be exercised by the officers as per the provisions of the Act, 1961 subject to such limitation as laid down under the said Act. 11. The provisions of Section 132B of the Act, 1961 inter alia provides for application of seized and requisitioned assets which provides that the assets seized may be dealt with in the manner provided therein, whereby, the amount of any existing liability and the amount of liability determined on completion of the assessment may be recovered out of such assets, however, such power is, thereafter, governed by two provisos, which are relevant to the present controversy and read as under: "Provided that where the person concerned makes an application to the Assessing Officer within thirty days from t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... me does not take place the assets have to be released. 15. In the present case, as noticed hereinbefore, the search took place on 14/3/2019 and despite repeated representations made in the year 2019 and 2020, neither the assets have been released nor the representations have been rejected indicating any reason. Further, even when a show cause notice was issued on 16/10/2020 and a response was filed on 19/3/2021, despite passage of over 02 years and 09 months, no determination has taken place. 16. So far as the source of acquisition is concerned, as required by the first proviso (supra), a specific submission has been made that the books of account have been seized along with currency and everything is recorded therein and, therefore, the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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