NARESH CHAND AGARWAL Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) HEARD counsel for the parties. The facts are that silver weighing 25.855 Kgs. was seized from the petitioner. The proceedings under S. 132(5) of the IT Act, 1961 were concluded. Thereafter, assessment was also completed and an appeal preferred by the petitioner was decided by the appellate authority. After the order of the appellate authority, outstanding demand is only to the extent of Rs. 11,263 which has been disputed by the petitioner in second appeal before the Tribunal which is pending.

(2.) THE contention of the petitioner is that the outstanding dues being only to the extent of Rs. 11,263, the respondents have no right to retain silver of far exceeding the amount and that the petitioner is willing to furnish security to the extent of Rs. 11,263 to secure the interest of the Department. This is how the petitioner prays for a writ of mandamus directing the respondents to release the silver weighing 25.855 Kgs.

(3.) ON these facts, the petition succeeds and is allowed. The respondents are directed to release the silver weighing 25.855 Kgs. to the petitioner within one week from the date a certified copy of this order is produced before the Asstt. CIT, Circle 1(1) (Investigation), Agra- respondent No. 2, subject to the petitioner's depositing Rs. 11,263 with respondent No. 2 within the aforesaid period.