2010 (10) TMI 1170

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....d Criminal Revision Application No.86 of 2008 filed by the respondent No.1 - original accused. Shortly stated the facts are as follows : Respondent No.1 was facing accusation with respect to the offence under Section 124 of the Bombay Police Act. He was found carrying cash currency of Rs. 5,90,000/-. When the said case pending before the concerned learned Magistrate, Income Tax Department desired to take custody thereof, prima facie, believing that said amount was assessable to tax in the hands of the respondent No.1. Their application for interim custody was granted. At the conclusion of the trial, learned Magistrate was pleased to make interim order final. Both the orders were challenged by the respondent No.1 before the Sessions Co....

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....purposes of the Indian Income Tax Act, by any person from whose possession or control such assets have been taken into custody by any officer or authority under any other law for the time being in force, may require such authority to deliver such books of accounts, other documents or assets to the requisitioning officer. In exercise of this power, the order for requisitioning cash currency was passed. Learned Magistrate, therefore, correctly placed the currency notes at the disposal of the Income Tax Department for further process in terms of Income Tax Act including for assessment under Section 153, if so found necessary. As pointed out by learned counsel for the Department the learned Single Judge of this Court in the case of Deputy Di....