https://www.taxtmi.com/caselaws?id=768569 The HC upheld the seizure of gold ornaments at a railway station by income tax authorities. The petitioner company's employees were transporting jewelry without proper documentation, including missing stock registers and bill books. Authorities discovered weight discrepancies between seized items and company records. The court found that authorities acted within legal powers under Sections 131 and 132, having reasonable grounds for suspicion based on RPF information. The jewelry could not be reconciled with company books, justifying continued investigation for potential tax non-compliance. The seizure remains valid pending ongoing assessment proceedings. en-us Mon, 07 Apr 2025 00:00:00 +0530 Wed, 09 Apr 2025 07:42:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768569 The HC upheld the seizure of gold ornaments at a railway station by income tax authorities. The petitioner company's employees were transporting jewelry without proper documentation, including missing stock registers and bill books. Authorities discovered weight discrepancies between seized items and company records. The court found that authorities acted within legal powers under Sections 131 and 132, having reasonable grounds for suspicion based on RPF information. The jewelry could not be reconciled with company books, justifying continued investigation for potential tax non-compliance. The seizure remains valid pending ongoing assessment proceedings. Case-Laws Income Tax Mon, 07 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768569