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TMI Blog2014 (11) TMI 731X X X X Extracts X X X X X X X X Extracts X X X X ..... ody of the seized gold bars and ornaments to the first respondent in the latter Crl. M.C. subject to the conditions in the order at this distance of time viz., more than five years since the order - the release of gold to the first respondent in the latter Crl. M.C. would not in any way affect the power of Income Tax Authority to continue with the proceedings under Section 132A of the Income Tax Act and also the right to realise the amount due to Government, if any, as income tax from him out of the guarantee - the pendency of the criminal proceedings in Crime No.51 of 2008 of South Railway Police Station and all further actions pursuant thereto will not stand in the way of the Income Tax Department in initiating appropriate proceedings for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Officer attached to the Department of Commercial Taxes was the petitioner in C.M.P.No.3628 of 2008. The said petitioner and the petitioner in the captioned Criminal Miscellaneous Case viz., the Income Tax Department alleged that those goods were transported without any valid documents to show their ownership. Further, it is alleged that the tax due to the State of Kerala was not paid by the accused in relation to the gold ornaments. In the said circumstances, to initiate the proceedings under the Kerala Value Added Tax Act petitions were filed by them to have custody of the gold ornaments produced in Crime No.51 of 2008. In fact, C.M.P.Nos.3628 and 3644 of 2008 were filed in that regard. The first respondent in the latter Crl.M.C. filed C. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... se of the gold to the Lalit B.Mehta will not in any way affect the power of Income Tax Authority to continue with the proceedings u/s.132A of the Income Tax Act. (4) The Sales Tax Authority will have the right to realise the tax amount, if any, due to the State from the guarantee for ₹ 2,29,128/- furnished towards the same by Lalit B.Mehta. (5) The said Lalit B.Mehta shall produce the gold, in the same condition, as and when required by this court. (6) The petitioner shall execute a bond equivalent to the value of the gold ornaments with two solvent sureties each for the like sum. It is aggrieved by the orders in C.M.P.Nos.3644 and 3834 of 2008 that the aforementioned Crl.M.C.s were filed by th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bogus one as M/s.Swarna Sagar Jewellers under his proprietorship was maintaining only an inflated book stock without having corresponding physical stock and in the said circumstances it is contended that M/s.Swarna Sagar Jewellers were in the line of providing accommodation entries to persons with undisclosed assets, when such assets are detected. It is contended that those aspects were not properly gone into by the court below while passing the impugned common order. Evidently, the common impugned order was passed as early as on 23.6.2009 and though these Crl.M.Cs were admitted as early as in the year 2010 no interim order staying the operation of the order was passed. It is submitted by the counsel on both sides that pursuant to the order ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .6.2009 it is made clear that the pendency of the criminal proceedings in Crime No.51 of 2008 of South Railway Police Station and all further actions pursuant thereto will not stand in the way of the Income Tax Department in initiating appropriate proceedings for the purpose of assessing tax liability of the persons concerned including the first respondent in the latter Crl.M.C., in accordance with law, besides the proceedings under Section 132A. It is also made clear that if such proceedings are initiated by the Department it shall be concluded as expeditiously as possible and the gold seized in connection with Crime No.51 of 2008 of South Railway Police Station and in respect of which Annexure-V order was passed with conditions shall be r ..... X X X X Extracts X X X X X X X X Extracts X X X X
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