https://www.taxtmi.com/caselaws?id=778236 HC upheld validity of searches under s.132 of the Act on benami lockers, finding the satisfaction note showed bona fide reasons to believe undisclosed wealth existed and that owners would not produce records. The court held the three clauses of s.132 are alternative, the formation of "reasons to believe" is an administrative function subject to limited judicial review, and no mala fide, vagueness or collateral purpose was shown. Consequently the seizure of valuables was lawful and the petition challenging the searches was dismissed. en-us Tue, 09 Sep 2025 00:00:00 +0530 Fri, 12 Sep 2025 08:45:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778236 HC upheld validity of searches under s.132 of the Act on benami lockers, finding the satisfaction note showed bona fide reasons to believe undisclosed wealth existed and that owners would not produce records. The court held the three clauses of s.132 are alternative, the formation of "reasons to believe" is an administrative function subject to limited judicial review, and no mala fide, vagueness or collateral purpose was shown. Consequently the seizure of valuables was lawful and the petition challenging the searches was dismissed. Case-Laws Income Tax Tue, 09 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778236