2004 (7) TMI 32

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..... loss - Accordingly, we direct the Department to refund the amount of the bearer bonds, i.e., Rs. 1,80,000 as in the year 1991. The Department will also pay simple interest at the rate of 6 per cent, per annum from January 1, 1992, till the date of payment. The Department will be free to recover the same from the persons who may be responsible for causing loss. - - - - - Dated:- 19-7-2004 - Judge .....

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..... ma, we find that the bearer bonds of the value of Rs. 1,50,000 find mention therein. This is also corroborated by letter dated May 25, 1990 to the following effect: "To Sh. Shanti Sarup Gupta, Shanti Niwas, Railway Road, Jagadhari. Sir, Search and seizure operations were carried out at your residential premises on May 15,1990 and May 16, 1990. During the course of the search, cash amo .....

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..... dingly, we direct the Department to refund the amount of the bearer bonds, i.e., Rs. 1,80,000 as in the year 1991. The Department will also pay simple interest at the rate of 6 per cent, per annum from January 1, 1992, till the date of payment. The Department will be free to recover the same from the persons who may be responsible for causing loss. The petition is disposed of. - - TaxTMI - TM .....

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