1978 (11) TMI 37

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....nce of an authorisation issued by the Commissioner of Income-tax, Lucknow, a raid was organised and conducted on the business and residential premises of M/s. Boolchand Fakir Chand, Dhampur, and its four partners who were brothers. This raid and the consequent search took place on August 20, 1976; as a result, a large amount of cash, documents, gold and ornaments were seized. A notice was issued u....

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....he ladies of the family of the partners of the assessee-firm as well as some partners, filed objections supported by affidavits stating that some of the assets seized belonged to them. They were not the property of the firm. The ITO in the course of his order passed under s. 132(5) rejected these various claims. The objectors filed applications under s. 132(11) of the Act on or about 10th Decem....

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.... were not bound by it. On the other hand, the Commissioner was bound to hear them and decide their objections on merits. Their objections could not be dismissed in limine on the ground that the assessment of the firm has been finalised or that the grievance of the objectors does not arise out of the order passed by the ITO under s. 132(5) of the Act. The submission made on behalf of the objecto....