9911796707
TMI Blog1988 (9) TMI 54X X X X Extracts X X X X X X X X Extracts X X X X ..... ner No. 1 had taken 9.5 lakhs from his brother Manohar Lal on December 19, 1987 and an amount of Rs. 1,30,000/- from his mother Ishwari Bai and grandmother Devi Bai each on December 14, 1987. He got Rs. 4,00,000/- lakhs by sale of silver belonging to himself and his mother and grandmother. He had earned a sum of about Rs. 56,00,000/- lakhs as profit from business during the year 1987-88. Petitioner No. 1 anticipating rise in silver price and hoping to make further gains, decided to further engage in forward trading of silver on a large scale basis. He, therefore, entrusted the amount so collected by him to petitioner No. 2 Ghanshyam, working with him in the business and asked him, to go to Ahmedabad. Petitioner No. 1 also proceeded for Ahmedabad. Petitioner No. 2 proceeded for Ahmedabad on December 19, 1987 in Truck No. GRU 3396 carrying Soap Stone Powder for delivery to some party in Gujarat. When the truck reached Kherwada, it was stopped by the police for routine check. The police not being satisfied by the explanation given by the petitioner No. 2 seized the currency notes worth Rs. 72,26,090/- under Section 102 of the Code of Criminal Procedure and arrested him. When petitione ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ities during the course of interrogation was also complained of on January 4, 1988. Respondent No. 3 also moved an application u/s. 452 and 457 of the Code of Criminal Procedure in the Court of Judicial Magistrate Kherwada and prayed that the amount may be handed over to him. Both the applications are pending. 3. In the writ petition, the details of the Bank Accounts of the brother, mother and grandmother of petitioner No. 1, the income by sale of silver belonging to the family and the profits in the year 1987-88 along with the Bank Certificates for the withdrawal of the money by the brother, mother and grandmother of petitioner No. 1 have also been given. The assessment for the taxable income for the year 1987-88,1988-89 being Rs. 50,00,000/- and the liability of petitioner No. 1 under the Income-Tax Act for the said years being Rs. 26,03,250/- have also been stated. It has also been stated that the Income-tax Authorities and the Customs Authorities had recorded the statement of petitioner No. 2 under duress and coercion and had not supplied the copies of the statements of the petitioners to them. The Orders Annexures O and P purported to be passed u/s. 110 of the Act have been ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Constitution. The writ petition has been prayed to be dismissed on the ground of alternative remedy being available to the petitioners. 5. In rejoinder, the allegation of the currency notes being taken clandestinely and being found concealed under the soap stone bags has been denied. It has been reiterated that the currency notes in question are well accounted for and the Respondents have failed to disclose any material in their reply to support their case that there was reasonable belief or cogent material to form an opinion that the amount was sale proceeds of smuggled gold. 6. On August 11, 1988 an application has been filed by the learned counsel for the petitioners to the effect that after the purported seizure on January 1, 1988 notice u/s. 124 of the Act has not been issued. In support of the application affidavit of Dr. Jhaman Mehta, brother of petitioner No. 1 and relative of petitioner No. 2 has been filed. It has been stated therein that notice u/s. 124 of the Act has not been given nor time for the same has been extended and therefore u/s. 110(2) of the Act, the Customs Authorities are obliged to return the currency notes to the person from whose possession they ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t may, having regard to the perishable or hazardous nature of any goods, depreciation in the value of the goods with the passage of time, constraints of storage space for the goods or any other relevant consideration, by notification in the Official Gazette, specify the goods or class of goods which shall, as soon as may be after its seizure under sub-section (1), be disposed of by the proper officer in such manner as the Central Government may, from time to time, determine after following the procedure hereinafter specified. (1-B) Where any goods, being goods specified under sub-section (1A), have been seized by a proper officer under sub-section (1), he shall prepare an inventory of such goods containing such details relating to their description, quality, quantity, mark numbers, country of origin and other particulars as the proper officer may consider relevant to the identity of the goods in any proceeding under this Act and shall make an application to a Magistrate for the purpose of- (a) certifying the correctness of the inventory so prepared, or (b) taking in the presence of the Magistrate, photographs of such goods, and certifying such photographs as true, or (c) al ..... X X X X Extracts X X X X X X X X Extracts X X X X
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