Law:

Section:

Section 132 of the income-tax act, 1961, read with sections 14, 15 and 16 of the voluntary disclosure of income and wealth act, 1976-Search and seizure-RS and her son carried on business in gold and gold jewellery-income-tax department, in association with two inspectors of central excise department, searched residence of rs and her business premises and seized substantial jewellery and primary gold-ito passed summary assessment order under section 132(5)-Later RS filed voluntary returns under sections 14(1) and 15 of the voluntary disclosure act and paid tax dub on declared income-whether after declaration under the voluntary disclosure act, rs entitled to return of seized assets-held, on facts, yes-whether mere presence of excise inspectors would mean that gold and jewellery were seized under the gold control act-held, on facts, no Facts RC was carrying on business in gold and gold jewellery. After his death on 7-11-1971 this business was carried on by his wife RS and her son B as legal heirs. On 3-9-1972, the Income-tax Department, in association with two Inspectors of the Central Excise Department, searched her residence and business premises and seized jewellery and primary gold worth about Rs. 4,48,319. Thereafter, the ITO passed a summary assessment order under section 132(5). Consequent upon the enactment of the Voluntary Disclosure of Income and Wealth Act, 1976, RS filed voluntary return under sections 14(1) and 15 and, after having paid the tax due on the declared income, she claimed the release of such seized assets. On refusal by the Collector of Central Excise to give his concurrence for their release, RS filed a writ petition claiming immunity from the penal provisions under the Gold Control Act. The learned Single Judge allowed the same. On writ appeal, the Collector of Central Excise contended inter alia, that since the impugned gold and jewellery were seized under the Gold Control Act and proceedings were pending in respect of the same before the gold control authorities, B and RS were not entitled to the release of gold and jewellery seized from them. Held 1. Where money, bullion, jewellery or other valuable article belonging to a person were…

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