https://www.taxtmi.com/caselaws?id=212954 A requisition under section 132A of the Income-tax Act was upheld because the competent authority had material supporting a reasonable belief that the seized silver articles represented undisclosed assets, including the absence of bills, vouchers, and documentary proof of source or ownership. The High Court held that writ jurisdiction under Article 226 is confined to testing whether the statutory preconditions for exercise of power existed, and cannot be used to reappraise the sufficiency of the material as an appellate forum. It also held that property in criminal court custody remains custodia legis and that custody did not invalidate the requisition. The challenge therefore failed. en-us Mon, 12 Mar 2012 00:00:00 +0530 Mon, 10 Dec 2012 14:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212954 A requisition under section 132A of the Income-tax Act was upheld because the competent authority had material supporting a reasonable belief that the seized silver articles represented undisclosed assets, including the absence of bills, vouchers, and documentary proof of source or ownership. The High Court held that writ jurisdiction under Article 226 is confined to testing whether the statutory preconditions for exercise of power existed, and cannot be used to reappraise the sufficiency of the material as an appellate forum. It also held that property in criminal court custody remains custodia legis and that custody did not invalidate the requisition. The challenge therefore failed. Case-Laws Income Tax Mon, 12 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212954