https://www.taxtmi.com/caselaws?id=10632 The court quashed the warrant of authorization under section 132 of the Income-tax Act and subsequent actions, including notices under section 158BC, due to lack of sufficient information to support a belief that the assets represented undisclosed income. The court emphasized the need for reliable information before exercising such powers. The seized gold, diamonds, and jewellery were ordered to be returned with interest. The court allowed a stay of six weeks, upon the respondents' request for a twelve-week stay. en-us Fri, 03 Dec 2004 00:00:00 +0530 Mon, 20 Jul 2009 16:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10632 The court quashed the warrant of authorization under section 132 of the Income-tax Act and subsequent actions, including notices under section 158BC, due to lack of sufficient information to support a belief that the assets represented undisclosed income. The court emphasized the need for reliable information before exercising such powers. The seized gold, diamonds, and jewellery were ordered to be returned with interest. The court allowed a stay of six weeks, upon the respondents' request for a twelve-week stay. Case-Laws Income Tax Fri, 03 Dec 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10632