9911796707
TMI Blog2019 (11) TMI 523X X X X Extracts X X X X X X X X Extracts X X X X ..... he Income Tax Act, 1961 was conducted in his premises on 19.04.2012 and completed on 13.06.2012. Gold, diamond jewellery and ornaments were seized on 19.04.2012. Panchanama was prepared on 19.04.2012. Consequent to the search, assessments were made under Section 153A read with Section 143(3) of the Income Tax Act, 1961, making an addition based on seized jewellery. As a result of appeals filed by the petitioner before the Income Tax Appellate Tribunal, the assessments were set aside and restored to the file of the Assessing Officer for re-adjudication afresh. The order of the Tribunal was put to challenge by the Revenue before this Court in T.C.A.Nos.158 to 163 of 2017 and it is stated that subsequently, those appeals were withdrawn by the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ioner for the Assessment Year 2009-10 is Rs. 1,46,440/-. It is specifically stated in the counter in respect of other Assessment Years viz., 2007-08, 2008-09, 2010-11, 2011-12 and 2012-13, the demand is NIL. It is further stated that the Assessment Year 2013-14 is pending for completion. 4. When the matter was taken up for hearing on 21.10.2019, it is submitted by the learned counsel for the petitioner that the amount of tax referable to the Assessment Year 2009-10 viz., Rs. 1,46,440/- has already been paid and therefore, as on date there is no tax due from the petitioner. Therefore, this Court, directed the learned counsel for the respondent to verify, as to whether any tax due is pending from the petitioner, as it is stated by him that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the assessment under Section 153A. 9. In this case, it is an admitted fact that the assessment has not been completed in respect of Assessment Year 2013-14. Therefore, in my considered view the Revenue is not justified in relying upon Section 132B to retain the asset, when admittedly, as on date there are no arrears of tax due from the petitioner and that the assessment for 2013-14 is not yet completed and the liability is arrived. In such view of the matter, this Court finds that the petitioner is entitled for return of the jewels retained by the Revenue. Accordingly, this writ petition is allowed and the respondent is directed to return the jewellery, which were seized from the petitioner under the Panchanama dated 19.04.2012. Such exe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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