1978 (4) TMI 32

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....SH CHANDRA C.J.-On 12th November, 1973, Hari Kishan, petitioner No. 1, visited the premises of Messrs. Mahavir Prasad Suraj Prasad, Jewellers, Kanpur. At that time, he was carrying a jhola containing a sum of Rs. 20,000 in cash and certain jewellery and ornaments. Soon after a party from the income-tax department raided the premises of Messrs. Mahavir Prasad Suraj Prasad. It seized and took into c....

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....ife and brother of petitioner No. 1. Petitioner No. 1's case is that though a sum of Rs. 15,000 out of the impugned amount of Rs. 20,000 belonged to his wife and the balance to his brother, he was also entitled to its refund because the money was seized by the raiding party from his custody. Learned counsel further urged that the fact of an assessment order under s. 135(2) having been passed again....

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....inding in the assessment order as binding, as having the effect of res judicata as against the petitioners. Again, the fact that the assessment order had been challenged by Messrs. Mahavir Prasad Suraj Prasad and the appeal was pending before the Tribunal was, in our opinion, entirely beside the point. Since the finding that may ultimately be recorded in those proceedings would not be binding on t....