2006 (12) TMI 139

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....nd the building constructed thereon attracted the provisions of the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act, 1976 (hereinafter referred to as "the Act"). Ext. P1 notice was issued to the appellant under Section 6(1) of the said Act in a proceeding for forfeiture of the property. The proceedings unclaimed in Ext. P5 order of the concerned authority whereby he found that the appellant could not sufficiently prove that the property specified in the notice was not his illegally acquired property. It was held that the appellant could explain only to the extent of Rs. 26,500/- as the source for acquiring the said property and the building thereon which was valued to Rs. 1,36,134/-. Accordingly, the authority by vi....

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.... (the reasons for such belief to be recorded in writing) that all or any of such properties are illegally acquired properties, it may serve a notice upon such person (hereinafter referred to as the person affected) calling upon him within such time as may be specified in the notice which shall not be ordinarily less than thirty days, to indicate the sources of his income, earnings or assets, out of which or by means of which he has acquired such property, the evidence on which he relies and other relevant information and particulars, and to show cause why all or any of such properties, as the case may be, should not be declared to be illegally acquired properties and forfeited to the Central Government under this Act." 7. Learned Counsel s....