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TMI Blog2020 (7) TMI 839X X X X Extracts X X X X X X X X Extracts X X X X ..... the Appellant : Shri Unnikrishnan M, Advocate For the Respondent : Shri Dhyan Chinnappa, Senior Advocate For Shri Cyril Amarchand Mangaldas, Advocate JUDGMENT Heard the learned counsel appearing for the appellants. The appellants are the respondents before the learned Single Judge in a writ petition filed by the respondent herein. 2. The respondent herein filed the said writ petition challengi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... A, 1999 read with Section 132 of Income Tax Act, 1961." 3. The learned counsel appearing for the appellants pointed out that the learned Single Judge has held that the impugned communication has lost its efficacy by virtue of Section 132 (8A) of the Income Tax Act, 1961 (for short, "the said Act of 1961"), as the period of sixty days has expired. The challenge is to the said finding recorded by t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Section 37 of the said Act of 1999. Therefore, the investigating officer by exercising the power under Section (3) of Section 37 could have taken recourse to the provisions of Section 132 of the Act of 1961 by passing a specific order. 6. The communication at Annexure-J directing the banks to stop operation of the accounts could have been based on an order passed under sub-section (3) of Section ..... X X X X Extracts X X X X X X X X Extracts X X X X
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