1990 (12) TMI 52

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....ntion of Smuggling Activities Act, 1974, and, therefore, is an affected, person in terms of section 2(2)(b) of the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act, 1976 (hereafter the "Act"). The Competent Authority issued a notice to the appellant under section 6(1) of the Act about a number of immovable and movable properties. The appellant submitted his reply. The Compe....

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....y 27, 1989. It is against this order that the present appeal is directed. Items Nos. (1) and (2) The first item relates to 37 cents (dry land) purchased on May 3, 1972 for Rs. 600 and the second item of 63 cents (wet land) purchased on March 18, 1973, for Rs. 2,800. The appellant owns several acres of agricultural land, apart from the two items detailed above which he purchased in 1972-73, with....

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....530. The case of the appellant is that, apart from the income from his agricultural land, he had received Rs. 80,000 by demand draft from his brother who was residing in Singapore. He had utilised the money so received from Singapore for the purchase of the house. The appellant has placed on the file a copy of the passbook of his account with the Indian Overseas Bank where a credit entry of Rs. 80....

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....ident of Singapore. It has also not been established that this demand draft had not been received from Singapore. This apart, the purchase of the house for Rs. 72,530 was disclosed to the income-tax authorities in the relevant return for the assessment year 1975-76 and it was accepted. The assessment made by the income-tax authorities is a piece of evidence which can be utilised by the appellant u....