2013 (11) TMI 736

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....DER We have heard learned counsel for the parties. A search and seizure operations were carried out at the residence of the petitioner at B-42A, Gangotri Enclave, Alaknanda, New Delhi on 22.2.2005, which continued upto 23.3.2005, and in which cash and jewellery found at the residence of the petitioner were seized and detained. It is submitted by Shri U.K. Saxena appearing for the petitioner tha....

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....ri Shambhu Chopra submits that if the petitioner makes application before ITO 23 (2), New Delhi, he will pass appropriate orders for release of cash lying in the office of Asstt. Director of Income Tax (Inv.), CGO Complex-1, Hapur Road, Ghaziabad and jewellery lying deposited in sealed box in the office of Asstt. Director, Income Tax (Inv.), Ghaziabad. The jewellery has since been transferred by t....

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....filing of the income tax appeals by the department in the Income Tax Appellate Tribunal, New Delhi will not prima facie justify the possession of the cash and jewellery. The income tax department, however, may insist upon some security for releasing the cash and jewellery and for that purpose if the attachment of the apartment as aforesaid is still continuing, the department may consider to keep t....