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TMI Blog2017 (7) TMI 928X X X X Extracts X X X X X X X X Extracts X X X X ..... ion 67 nor any reasons have been recorded before exercising such powers. The powers being drastic, the authorities must demonstrate satisfaction of pre conditions before exercise of such powers. However, we would permit the department to retain xerox copies duly authenticated of the documents already seized before returning them to the petitioner. Petition allowed - decided partly in favor of petitioner. - SPECIAL CIVIL APPLICATION NO. 13124 of 2017 - - - Dated:- 21-7-2017 - MR. AKIL KURESHI AND MR. BIREN VAISHNAV, JJ. For The Petitioner : UCHIT N SHETH, ADVOCATE For The Respondent : ADVANCE COPY SERVED TO GP/PP, NOTICE SERVED BY DS ORAL ORDER ( PER : HONOURABLE MR.JUSTICE AKIL KURESHI) 1. The petitioner has ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... harged the tax liability. Even before the assessment is carried out, the authorities have taken the extreme step of attaching the petitioner s stock. He submitted that in the business of footwear, there is quick rotation of style, design and change in fashion. If the stock is allowed to remain idle even for a few months, the items may completely go out of fashion. The market value of the goods will therefore completely diminish. 3.1 Counsel for the petitioner further submitted that in any case the authorities had no power to seize the accounts. Power under sub-section (4) of Section 67 could be exercised only when the Commissioner has reason to believe that a dealer has evaded or is attempting to evade the payment of any tax due from him ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... owever, we would permit the department to retain xerox copies duly authenticated of the documents already seized before returning them to the petitioner. 7. The petition is, therefore, disposed of in the following terms: (1) The order of attachment of the petitioner s stock is partially modified by permitting the petitioner to clear the stock, however, so long as the petitioner maintains a steady stock of value of not less than ₹ 1.50 crores at all times. The petitioner shall maintain proper accounts for such purpose and file such accounts before the authorities twice a year i.e. before 01st July and 01st January of each year. (2) The respondents shall return the petitioner s seized accounts and other documents latest by 10.0 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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