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TMI Blog2016 (5) TMI 579X X X X Extracts X X X X X X X X Extracts X X X X ..... ind no justification for any further retention of the seized gold bars as well as the currency amounting to ₹ 1,49,000/-. The respondents are accordingly directed to forthwith release the 6 Kilograms gold bars as also the Indian currency amounting to ₹ 1,49,000/- in favour of M/s J.P. Goel and Sons Private Limited through its Director, Sh. Gauri Shankar Goel. - W. P. (C) 7978/2010 & CM No. 20590/2010 (stay), LPA 250/2011 & CM Nos.5488/2011 (for stay), 5489/2011 (for condonation of delay), LPA 511/2011 & CM No.10888/2011 (for condonation of delay) - - - Dated:- 12-5-2016 - Badar Durrez Ahmed And Sanjeev Sachdeva, JJ. For the Petitioners : Mr Rakesh Gupta, Ms Poonam Ahuja, Mr Somil Agarwal, Mr Rohit Kumar Gupta and Ms Moni ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd Sons Private Limited is engaged in the business of gold and bullion since 1999. In WP(C) No. 3908/2008, Enforcement Directorate filed an affidavit contending that though the seizure had been made, no case could be made out in respect of the seized stock of gold bars and the Indian currency and the matter had been referred to the Income Tax Department for taking such action as may be deemed fit by them. On 22.07.2009, Income Tax Department was put to notice in the said WP(C) No. 3908/2008. The Assistant Director of Income Tax (Investigation) filed an affidavit contending that warrant of authorization under Section 132 (A) of the Act had been issued on 17.07.2009 and the warrant of attachment was executed on 20.07.2009 and stock of 6 Kilog ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 17th July, 2009 under Section 132 (A) of the Act. The writ petition was allowed with the direction to the respondent/Income Tax Department to immediately release the 6 Kilograms of gold as well as Indian currency amounting to ₹ 1,49,000/- seized from the premises of the petitioner and his brother, Shankar Lal Goel, petitioner No. 3 herein. The warrant under Section 132 (A) issued by the Income Tax Department on 27th July, 2009 was also quashed. The learned single Judge held that a perusal of Section 137 (A) of the Act showed that Section 37 of the FEMA could not be invoked to seize Indian currency. 8. Aggrieved by the order dated 10.12.2010 of the learned single Judge in WP(C) No. 3908/2008, the two Letters Patent Appeals have bee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h ACIT, Central Circle-15, New Delhi in the charge of Commissioner of Income Tax, Delhi (Central)-II, New Delhi vide order No. F.No./CCIT(Central)/Centralization/2010-11/2984 dt. 25.11.2010 and the factual report by the ADIT has been sent to the ACIT, Central Circle-15, New Delhi on 06.12.2010. The decision regarding release of the seized assets can be taken by CIT, Delhi (Central)-II, New Delhi only. It is contended that the seized material has been handed over to DCIT, Central Circle on 16.04.2011. 11. There is no justification forthcoming from the respondent departments as to on what basis and why they are continuing to retain the seized articles. There is nothing on record to show that any proceedings for assessment/re-assessment p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... seized therefrom. Till date, there is no justification forthcoming for either the conduct of the raid or for seizure of the said articles. There is nothing on record to show that any proceedings for assessment/re-assessment were initiated till date against the petitioners in respect of the articles seized in 2005. We find no justification for any further retention of the seized gold bars as well as the currency amounting to ₹ 1,49,000/-. The respondents are accordingly directed to forthwith release the 6 Kilograms gold bars as also the Indian currency amounting to ₹ 1,49,000/- in favour of M/s J.P. Goel and Sons Private Limited through its Director, Sh. Gauri Shankar Goel. 15. In view of the above, Writ Petition (C) No. 7978/ ..... X X X X Extracts X X X X X X X X Extracts X X X X
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