9911796707
TMI Blog1990 (5) TMI 28X X X X Extracts X X X X X X X X Extracts X X X X ..... remises of the petitioner under section 132 of the Income-tax Act, 1961. Cash of Rs. 2,50,000 and jewellery worth more than Rs. 1,32,000 were seized. It appears that no summary assessment order was made under section 132(5) of the Act within the prescribed period, but a regular order of assessment was made on March 24, 1986. According to this order of assessment, the total amount of tax, etc., pay ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... section 132B of the Income-tax Act. When the said return was not effected, the present writ petition was filed. Notice was given to the Income-tax Department and a counter-affidavit and a supplementary counter-affidavit have been filed. The main defence of the Department is section 241 of the Act. It is brought to our notice that, against the order of the Commissioner of Income-tax (Appeals), t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... antee in sum of Rs. 75,000 to the satisfaction of respondent No. 2. This order shall, however, be subject to the final order that may be passed in the appeal pending before the Income-tax Appellate Tribunal. The writ petition is disposed of with the above directions. The Appellate Tribunal may dispose of the Department's appeal as early as possible. A copy of this order may be given to learned ..... X X X X Extracts X X X X X X X X Extracts X X X X
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