https://www.taxtmi.com/caselaws?id=37484 The High Court of Allahabad allowed the petition, quashed the Commissioner of Income Tax's order, and remitted the matter for reconsideration. The court held that third parties claiming ownership of seized assets have the right to challenge assessments independently from the firm. The Commissioner was directed to review the objections raised by the third parties under section 132(11) without being bound by the assessment against the firm. The court emphasized the obligation of the Commissioner to fairly determine the claims of third parties. en-us Mon, 20 Nov 1978 00:00:00 +0530 Tue, 30 Mar 2010 11:19:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37484 The High Court of Allahabad allowed the petition, quashed the Commissioner of Income Tax's order, and remitted the matter for reconsideration. The court held that third parties claiming ownership of seized assets have the right to challenge assessments independently from the firm. The Commissioner was directed to review the objections raised by the third parties under section 132(11) without being bound by the assessment against the firm. The court emphasized the obligation of the Commissioner to fairly determine the claims of third parties. Case-Laws Income Tax Mon, 20 Nov 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37484