1997 (8) TMI 33

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....District. According to the petitioners the partnership business is constituted on 9th Aug., 1996, as per Exts. P1 and the business was commenced from 9th Aug., 1996, as per Ext. P1 and P2. There was a search of the business premises of the "Central Jewellery" of which the petitioners are the partners, on 21st Nov., 1996, by the IT Department. Ext. P3 is the Panchanama prepared by the 4th responden....

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....tely no justification for invoking the powers under s. 132(1) of the IT Act. According to the petitioner the 4th respondent had no reason to believe that the conditions under cls. (a), (b) and (c) of s. 132(1) of the IT Act are violated, especially since the petitioners have started the business only on 9th Aug., 1996. I have also heard Sri. P.K.R. Menon, learned senior Central Government standing....