SUNIL DUA Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THE assessed is aggrieved by an order dt. 24th Feb., 2006 passed by Tribunal, Delhi Bench 'D' in IT(SS)A No. 75/Del/2001 relevant for the block assessment period 1st April, 1987 to 16th Jan., 1998. - -

(2.) THREE issues have been raised by learned Counsel for the assessee. It is firstly contended that the warrant of authorisation drawn up in favor of the Addl. Director of IT was not valid and, thereforee, the search under Section 132 of the IT Act, 1961 (for short 'the Act') was itself illegal and invalid.

(3.) UNDER the circumstances, the first contention of learned Counsel for the Revenue (sic -assessee) does not merit any serious consideration. The second contention of learned Counsel for the assessed is that possession of jewellery worth Rs. 2,96,800 was duly explained by the 'assessee. It is submitted that out of the jewellery seized, 500 gms. were received by the wife of the assessed as a result of a will dt. 25th May, 1993 made by the grandmother of the wife of the assessee.