VIJAY KUMAR Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) IT is evident from the impugned order dated May 21, 1990, and even according to the petitioner, that a regular assessment has been made in this case. Once a regular assessment has been made, it would be unnecessary to go into the validity or otherwise of the summary assessment order under Section 132(5) of the Act. IT is, however, open to the petitioner to apply for the return of the seized articles subject to, and in accordance with, the regular assessment order.

(2.) IT shall also be open to the petitioner to deposit the amount equal to their value towards the tax liability of Mathura Prasad Jagdish Prasad and ask for return of those goods.