https://www.taxtmi.com/caselaws?id=22641 Forfeiture of property under the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act, 1976 could not be sustained where the appellant's income-tax history and surrounding facts showed lawful sources for the assets. The court noted continuous income-tax assessments under section 143(3) and accepted that the first property was acquired and improved from traced business income, the second from inherited land and modest construction costs, and the third from an initial capital investment made before the assessment period. On that material, the authority failed to establish that the properties or investments lacked a lawful source, and the forfeiture order was set aside. en-us Fri, 21 Dec 1990 00:00:00 +0530 Sat, 12 Dec 2009 10:24:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22641 Forfeiture of property under the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act, 1976 could not be sustained where the appellant's income-tax history and surrounding facts showed lawful sources for the assets. The court noted continuous income-tax assessments under section 143(3) and accepted that the first property was acquired and improved from traced business income, the second from inherited land and modest construction costs, and the third from an initial capital investment made before the assessment period. On that material, the authority failed to establish that the properties or investments lacked a lawful source, and the forfeiture order was set aside. Case-Laws Income Tax Fri, 21 Dec 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22641