https://www.taxtmi.com/caselaws?id=32203 The court upheld the validity of the warrant of requisition issued under section 132A of the Income-tax Act, 1961, dismissing the petition seeking to quash the warrant. Emphasizing the importance of valid reasons to believe that the assets were undisclosed for tax purposes, the court found that the requisition warrant was issued based on satisfactory information and reasons, without any malice. The court clarified that the subjective belief required under section 132A is not subject to an objective test, ultimately maintaining the status quo regarding the seized assets and highlighting the significance of good faith in exercising such powers. en-us Thu, 03 Jul 2008 00:00:00 +0530 Sat, 24 Jan 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=32203 The court upheld the validity of the warrant of requisition issued under section 132A of the Income-tax Act, 1961, dismissing the petition seeking to quash the warrant. Emphasizing the importance of valid reasons to believe that the assets were undisclosed for tax purposes, the court found that the requisition warrant was issued based on satisfactory information and reasons, without any malice. The court clarified that the subjective belief required under section 132A is not subject to an objective test, ultimately maintaining the status quo regarding the seized assets and highlighting the significance of good faith in exercising such powers. Case-Laws Income Tax Thu, 03 Jul 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=32203