THANTHI TRUST Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) TODAY only C.M. No. 687 of 1987 is listed but with the consent of the learned counsel for the parties, the writ petition itself is being disposed of since it is stated that the matter is covered by a decision of the Supreme Court.

(2.) A search was conducted pursuant to an authorisation issued under sub -s. (1) of S. 132 of the IT Act, 1961, and certain documents as mentioned in Annexure " A " to the writ petition and the books of accounts were seized from the room of a director of the petitioner. The seizure list is dated August 7, 1976. It appears that thereafter the ITO concerned by order dated December 15, 1977, communicated to the petitioner -trust that the CIT (Central), Madras, has given permission to retain the books and documents till December 31, 1978. Along with this communication, the reasons which prompted the CIT to grant the permission/approval to Retain the books of account till December 31, 1978, were not furnished.

(3.) LEARNED counsel for the petitioner has brought to our notice the decision of the Supreme Court in CIT vs. Oriental Rubber Works (1984) 38 CTR (SC) 154 : (1984) 145 ITR 477 (SC). In this judgment the Supreme Court has analysed the scheme of S. 132 of the IT Act and has observed as under (headnote):