TaxTMI 
TaxTMI 
1986 (1) TMI 43
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.... giving effect to exhibit P-20 and directing the respondents to return the amount of Rs. 1, 50,000 with interest due thereon to the petitioner. On July 4, 1982, the officers of the Special Customs Preventive Unit, Kanhangad, apprehended the third respondent-Shri K. K. Abdulkareem and Shri K. Hamza and recovered a sum of Rs. 40,000 and Rs. 1,10,000 from them, respectively. They were proceeding to Kuttiangadi from Kanhangad by bus. No prima facie case under the Customs Regulations was disclosed. The Enforcement Directorate made over the case to the Income-tax Department for investigation. The money was taken over by the Department under section 132A(1) of the Income-tax Act on June 27, 1985. The first respondent-Income-tax Officer-issued n....
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....etition. I beard counsel for the petitioner, Mr. S. A. Nagendran. It is the petitioner's case that the amount seized from the third respondent Abdulkareem-and Shri K. Hamza belongs to him. Briefly stated, the plea of the petitioner is that be had given a loan to M/s. Ashraf Fabrics, Kanhangad, in 1980. While the petitioner was in India, M/s. Ashraf Fabrics returned the balance of the loan Rs. 1,50,000, on June 14, 1982. It was kept in the house of the petitioner in Kanhangad. The petitioner instructed his wife, Smt. Beefathumma, to give the said amount to Shri 0. P. Ibrabimkutty, Fish Merchant, Payangadi. Thereafter, he left India for Sharjah on June 16, 1982. The petitioner's wife entrusted the amount of Rs. 1,50,000 to her brother, Shr....
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....the basis of such materials as are available with him; (ii) calculating the amount of tax on the income so estimated in accordance with the provisions of the Indian Income-tax Act, 1922 (11 of 1922), or this Act. " It is evident that this section empowers the Income-tax Officer to estimate the undisclosed income of the person concerned in a summary manner to the best of his judgment. Admittedly, the amount was seized from the third respondent-K. K. Abdulkareem-and Shri K. Hamza, who accompanied him, while they were travelling by bus. Proceedings were initiated against the third respondent. Prima facie, the person from whose custody or possession the money has been seized is the " person concerned " who should be given an opportunity o....
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....ct provides an equally efficacious alternate remedy to the petitioner to make an application before the Commissioner of Income-tax stating his objections and requesting for appropriate relief. Sections 132(l 1) and 132(12) of the Income-tax Act are as follows: " (11) If any Person objects for any reason to an order made under sub-section (5), he may, within thirty days of the date of such order, make an application to the Commissioner stating therein the reasons for such objection and requesting for appropriate relief in the matter. (12) On receipt of the application under sub-section (10) the Board, or on receipt of the application under sub-section (11) the Commissioner, may, after giving the applicant an opportunity of being heard,....