1988 (9) TMI 42

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.... 133A of the Income-tax Act, 1961 (for short, "the Income-tax Act"). There are in all four partners in the firm, namely, Sarva Shri Sugan Chand, Kanhiyalal, Noratmal and Vinod Kumar. At, the time, when the Income-tax Officer entered the business premises, Sugan Chand was present there. During the course of survey, account books were inspected and two lists marked "A" and "B" which are annexed to the writ petition as annexures 4 and 5, respectively, were prepared. Though it is the case of the petitioner firm that it was during the survey that the account books were seized and impounded, respondent No. 2 in his return has come out with the case that only lists "A" and "B" were prepared and thereafter, a notice under section 131(3) of the Inco....

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....tained. The approval as aforesaid must be obtained during the period of 15 days and if the approval is obtained after 15 days, it will have no effect. There can be no ex post facto approval. We called upon Mr. Singhal, learned counsel for the respondents, to let us know whether before impounding the account books or other documents, any reasons for so doing were recorded by respondent No. 2 or not. So far as the order of the Income-tax Officer at page 39 of the paper book; made under section 131(3) of the Income-tax Act is concerned, a bare reading of the said order will show that it is not mentioned therein that any reasons for impounding the account books and other documents were recorded. The order reads as under : "In exercise of power....