Law:

Section:

Section 132 of the Income-tax Act, 1961 - Search and seizure - General - Petitioner's son went to Bhopal carrying with him certain gold jewellery - When he went to a jewellery shop, an income-tax raid took place at that shop and amongst others, jewellery in possession of petitioner's son was also seized - Income-tax authorities at Bhopal held that jewellery seized from petitioner's son was unaccounted jewellery of petitioner's firm - Since said firm was an assessee at Amritsar, income-tax authorities at Bhopal transferred record to their counterpart at Amritsar to take necessary action against firm - Petitioner filed writ petition for release of said jewellery on ground that said jewellery was reflected in stock register maintained by firm - Whether jewellery seized from petitioner's son could not be retained by income-tax authorities if same stood accounted for/reflected in account book of firm - Held, yes - Whether, therefore, assessing authority should examine books of account of firm and record a finding whether seized jewellery had been accounted for or not, and if it was found accounted for, same was to be released forthwith to representative of petitioner - Held, yes Salil Kapoor for the Petitioner. R.P. Sawhney, P.S. Dhaliwal and N.L. Sharda for the Respodnent. JUDGMENT N.K. Sodhi, J. - Jiwan Lal Kapoor is the petitioner before us. His son, Rajiv Kapoor, had gone to Bhopal in the month of June, 2002, carrying with him gold jewellery weighing 3,934.410 grams valued at Rs. 17,50,808. He went to the shop of Shringar Jewellers at Bhopal on June 13, 2002, when an income-tax raid took place in that shop. Amongst others, the jewellery which Rajiv Kapoor was carrying with him was also seized along with bill books, vouchers, etc., by the income-tax authorities from the shop of Shringar Jewellers, Bhopal. A copy of the panchnama prepared at the time of seizure is annexure P-2 with the writ petition. The income-tax authorities at Bhopal dealing with the case of Shringar Jewellers, Bhopal, have recorded a prima facie finding that the jewellery seized from Rajiv Kapoor did not belong to Shringar Jewellers and that it is the unaccounted jewellery of J.L. Kapoor and…

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