9911796707
TMI Blog2008 (7) TMI 88X X X X Extracts X X X X X X X X Extracts X X X X ..... fund the impugned amount deposited by the petitioner during investigation – department is not justified in retaining impugned amount in absence of demand raised - 522 of 2008 - - - Dated:- 24-7-2008 - Satish Kumar Mittal and Augustine George Masih, JJ. Shri Jagmohan Bansal, Advocate, for the Petitioner. S/Shri Kamal Sehgal and Rajiv Sharma, Advocates, for the Respondent. [Order per ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tates that the said draft was deposited by the partners of the petitioner along with the cheques voluntarily, when the search and seizure was conducted by the department. It has been pointed out by him that the investigation is under way and the liability of the petitioner could go much more than the amount voluntarily deposited by the petitioner. He has further stated that the cheques of Rs. 1.5 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... legal or moral right to retain the said amount in the absence of the demand raised. However, it will be open to the department to recover the same from the petitioner as and when the demand is created. 4. The affidavit dated 14-7-2008 of Parveen Kumar, son of Late Sh. Krishanlal, Managing Director of M/s. Raghu Exports (India) Pvt. Ltd. Jalandhar (petitioner) has been filed along with C.M. No ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ght of the above, the interest of the revenue is fully safeguarded as it is not disputed that the refund of Rs. 1 crore and the return of cheques amounting to Rs. 1.5 crores would be covered by the property aforementioned. 5. For the reasons mentioned above, the respondent No. 2 is directed to refund the amount of Rs. 1 crore and to return the cheques of Rs. 1.5 crores admittedly deposited by ..... X X X X Extracts X X X X X X X X Extracts X X X X
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