TaxTMI 
TaxTMI 
2024 (11) TMI 624
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....947 and 1955 with M/s Shree Vardaan Safe Deposit Vaults Pvt. Ltd. (in short SVPL) were opened in the year 1998 in the name of Shiv Daga by taking the first part of the name of the appellant and the later part of his sister Krishna Devi Daga. The gold and silver found in his locker has been taken to be out of benami transaction under section 2 (9) (B) of the Act of 1988 as amended by the Amending Act of 2016. 4. It was stated that the sister Krishna Devi Daga was having some family dispute and therefore asked the appellant to open the lockers to keep her valuables and ornaments in safe custody without disclosing her name. Accordingly the lockers were opened to keep the jewellery and the ornaments of the sister in those lockers. The family dispute of the sister got settled in the year 2013 and immediately thereupon she had taken her valuables. The appellant placed gold and silver in the lockers though with the request to the SVPL to change his name from Shiv Daga to Shiv Narayan Baheti. A request letter for it was given way back in the year 2013 followed by oral and written reminders. The name was not changed bythe SVPL till September, 2019 in absence of the payment of dues, rathe....
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....under section 131 of Income Tax Act, 1961, many lockers were found with SVPL whose locker holders could not be identified. Locker number 1947 and 1955 was existing in the name of ShivDaga as per the record of SVPL. The summons were issued to Shiv Daga on the address available on record with SVPL. However, it could not be served as no person named as Shiv Daga was found at the address 6, Vivekanand Road, Kolkata. The SVPL published a notice on 25.02.2019 regarding search and seizure of the lockers and it was given in seven newspapers in all the popular languages but appellant did not come forward to make a claim in reference to the lockers referred to above. The respondents accordingly issued prohibitory orders u/s 132 (3) for the lockers and they were opened later on wherein it was found that gold and silver valued at Rs. 1,23,27,770/- has been kept. 12. A reference letter was sent by the I.O to DD, I.T. Kolkata informing that seized articles of locker numbers 1947 and 1955 are benami properties. A letter was then received by the I.O. on 22.07.2019 and it initiated the proceedings and issued show cause notice under section 24 (1) on 19/8/2019 to Shiv Daga and SVPL. It was found ....
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....ster, there remains no reason for the appellant to plead or argue that his second name was Shiv Daga which otherwise was stated even by SVPL while filing reply to the Show Cause Notice. The fact aforesaid shows the conduct of the appellant and his dubious personality. The issue would not end here for the reason that while opening the lockers, he had given his own address but no documents were submitted which includes even the KYC even in the year 2016 despite it was required. The fact becomes alarming when the signature of the appellant are looked into for opening of the lockers and other documents which are different than his own signature. If the appellant was Shiv Narayan Baheti alias Shiv Daga, there was no reason to change the signature and if it has been changed, it may amount to forgery. 18. Thus, the story cooked up by the appellant is having various contradiction and otherwise if the first story regarding family dispute in the family of the sister is taken into consideration, we don't find any material on record to prove the fact aforesaid, thus, it remains for sake of it. If there was a family dispute and was settled in the year 2013, the appellant could have produ....
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.... locker in the name of Shiv Daga. This highlights the conduct of SVPL. 21. The fact now remains about the request letter given by the appellant to change the name from Shiv Daga to Shiv Narayan Baheti starting from the year 2013. The reminder was given even in the year 2015. It ishowever a fact that name was changed subsequent to the search and seizure. The only reason for delaying the change of the name was in absence of the payment which is shown to have been paid in the year 2019 without putting any documents as to show what was the arrangement between appellant and the SVPL for operation of lockers and what was the rent decided amongst them. 22. We have already highlighted the conduct of SVPL who is trying to support the appellant because their mis-doings are also highlighted for not taking KYC in the year 2016, otherwise the things would have been settled in the year 2016 itself. To cover up the defaults, they said to have accepted the payment. The appellant has not placed on record even the agreement between him and the SVPL to justify delay in change of the name. In fact the appellant and SVPL were hand in glove to mis-lead the respondent. 23. The learned counsel fo....