TaxTMI 
TaxTMI 
2017 (11) TMI 559
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....tuted under Section 12 of SAFEMA. 2. The impugned order was passed by the Tribunal against an order dated 04.03.2016 passed by the Competent Authority forfeiting the following properties under the provisions of SAFEMA:- "(1) Ms Oberoi Industries, 2/1B Anand Parbat Industrial Area, New Rohtak Road, New Delhi; (2) M/s Oxford Fashion 2/1B Anand Parbat Industrial Area, New Rohtak Road, New Delhi." (The abovementioned properties are hereafter also referred to as "the said properties") 3. The Tribunal accepted the respondent's contention that the said properties had been purchased in the year 1993, which is much prior to the alleged acts constituting violation of the Conservation of Foreign Exchange and Prevention of Smuggling Activit....
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....of export benefits under the above-mentioned schemes. 4.3 In view of the above, there is no dispute the respondent is a person covered under Section 2(a)(d) of SAFEMA and his properties that fall with the definition of "illegally acquired property" within the meaning of Section 3(c) of SAFEMA, are liable to be forfeited under Section 7 of SAFEMA. 4.4 In accordance with Section 6(1) of SAFEMA, a Show Cause Notice dated 29.03.2005 was issued to the respondent to explain the sources of income out of which the respondent had acquired right, title and interest in the said properties. The respondent responded to the said Show Cause Notice and filed an affidavit affirming that he had purchased the property located at 2/1B, Anand Parbat, Industria....
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....avits dated 25th March, 2006 sworn in by Smt. Amerjeet Kaur Mother of the appellant regarding submission and sources of investment in purchase of property bearing No.2/1B, Anand Parbat Industrial Area, New Rohtak Road, New Delhi. (ii) Copy of receipt dated 26th March, 1993 for Rs. 28,000/- for payment of the aforesaid property. (iii) Copy of unregistered General Power of Attorney (GPA) executed between Sh. O.P. Narula and Sh. Manpreet Singh Oberoi in respect of the above said property. (iv) Copy of unregistered sale agreement made on 26th March, 1993 between Sh. O.P. Narula and the appellant. (v) Copy of affidavit (on a plain paper) sworn in by Sh. O.P. Narula regarding sale and transfer of property in question." (vi) Copy of pe....
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.... 7. As opposed to the aforesaid evidence, the Competent Authority did not produce any material to even remotely suggest that the said properties were not purchased by the respondent in 1993 (as claimed by the respondent) but subsequently. The Tribunal noted that the firm which was allegedly involved in the illegal activities was incorporated in 2000. The Tribunal also observed that it had come on record that respondent was helping his father during the year 1993-2000 who was carrying on the business of plastic goods 8. The Appellate Tribunal also repelled the contention that the documents produced by respondent were forged or fabricated as no material to indicate the same had been produced by the Competent Authority. 9. The learned couns....