1997 (11) TMI 63

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..... search was conducted in the petitioners' premises and an amount of Rs. 21 lakhs in cash and Rs. 31,78,220 by fixed deposit receipts and drafts were seized from their house. According to the petitioners, the cash amount was drawn from the Catholic Syrian Bank by his son at the instance of the authorities themselves. After the seizure, proceedings for assessment for previous years were also started .....

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..... the eligibility for relief under capital gain and held that as directed by the High Court it should be deposited in the bank in Capital Gains Deposit Scheme. Whether they are eligible for relief under capital gains will have to be considered by the assessing authority. With regard to the other contentions raised in exhibit P-20, there is no speaking order. All contentions raised by the petitioner .....

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