DIPAK KUMAR AGARWAL Vs. ASSESSING OFFICER

JUDGEMENT

(1.) Heard Sri Rakesh Ranjan Agarwal, learned Senior Advocate assisted by Sri Ram Narain Yadav, learned counsel for the petitioner and Sri Gaurav Mahajan, learned counsel for the revenue.

(2.) Present writ petition has been filed to quash the seizure of Rs.36,12,000.00 dtd. 13/9/2022, effected under Sec. 132B(1)(i) of the Income Tax Act, 1961 (hereinafter referred to as 'the Act'). Further relief has been sought to release the said amount detained since 1/9/2022, together with due interest payable under Sec. 132(B)(4) read with Rule 119 (A) of the Income Tax Rule, 1961 (hereinafter referred to as 'the Rules').

(3.) Learned Senior Counsel for the petitioner submits, petitioner is a jeweller. He regularly filed his income tax returns since 2012-2013. In the year 2022, he set out to acquire stock of gold jewellery for the oncoming Dushehra and Diwali festivities. He thus handed over Rs.36,12,000.00 to his worker Om Prakash Bind on 31/8/2022 alongwith railway ticket requiring him to undertake the rail journey to Kolkata to buy jewellery. On 31/8/2022, said Om Prakash Bind was apprehended by the Government Reserved Police (GRP) at Railway Station, Mirzapur. In the course of that search by the police authorities, Rs.36,12,000.00 was recovered from his bag. Later, that information was passed on to the Income Tax Authority who arrived on the scene on 1/9/2022 and subjected the cash recovered from Om Prakash Bind to proceeding under Sec. 132 (1-A) of the Act.