1997 (9) TMI 30

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..... mises of the petitioner on 24th/25th Feb., 1989, jewellery worth Rs. 1,71,570 was seized by the Department. The value of the jewellery was treated as the income of the assessee and a reassessment was framed by the AO accordingly. Another addition of Rs. 55,897 was made on account of some papers which were found during the course of search. Feeling aggrieved against the order of reassessment, the a .....

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..... the appeal is pending before the Tribunal and in case it succeeds it will be difficult to recover the said amount from the petitioner-assessee. Having heard counsel for the parties and after going through their pleadings, we direct the AO to return the jewellery to the petitioner on his furnishing adequate security for its return to his satisfaction. The petitioner will furnish security within a .....

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