Law:

Section:

Section 132 of the Income-tax Act, 1961 - Search and seizure - General Where prima facie, amount recovered by revenue front bank which was standing in name of petitioner Benefit Fund seemed to belong to genuine depositors and it was found that if that amount was retained by revenue, petitioner would not be in a position to run its day-to-day affairs and running of petitioner's Benefit Fund itself would be affected, revenue was to be directed to refund cash seized and amounts withdrawn from current account of petitioner held with bank Where prima facie the amount recovered by the revenue from the bank which was standing in the name of the petitioner Benefit Fund seemed to belong to the genuine depositors and it found that if that amount was retained by the revenue, the petitioner would not be in a position to run its day-to-day affairs and the petitioner would not be in a position to make payments to the genuine depositors, who sought to withdraw the amount, and the running of the petitioner's Benefit Fund itself would be affected, it would be just and proper that the respondents should be directed to refund the cash seized and the amounts withdrawn from the current account of the petitioner held with the bank. JUDGMENT K. Mohan Ram, J.- W.P. No. 38997 of 2005 has been filed by the petitioner for issuance of a writ of certiorari to quash the prohibitory order issued by the first respondent in SS-II, dated November 23, 2005, under section 132(3) of the Income-tax Act, 1961. While admitting the said writ petition, the Honourable Mr. Justice A. Kulasekaran, has passed an order dated December 21, 2005 in W.P.M.P. Nos. 41774 and 41775 of 2005 which reads as follows : "Considering the facts and circumstances of the case, the respondents are directed to depute one of their officials, not below the rank of an Inspector to go to the petitioner-company on every working day at a fixed time and permit the customers to redeem the jewels, if they are genuine persons. In case, any suspicion that any customer is a benami or a fictitious person, the deputed inspector may not allow them to redeem. The redeemed amount from the genuine customers is ordered to be deposited in a…

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