SHAHIN IQBAL GHANIWALE Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) Rule returnable forthwith by consent.

(2.) Mr. A S Jaiswal, learned Counsel waives notice for Respondents 1 to 4. Mr. Dastane waives notice for Respondent No.5.

(3.) The petitioner has essentially argued two aspects before us while questioning the validity of the order passed by Respondent No. 2 dated 12th February, 2007 purported to be under section 132 of the Income Tax Act, 1961 for carrying out search and seizure ; and further direction to the respondent no.5 -Bank to issue bank draft in favour of the Department in the sum of Rs. 5 lakhs from the account of the petitioner which was attached in terms of order dated 14th February 2007. The petitioner has further prayed for consequential relief of directing the Respondents 3 and 4 to redeposit the amount of Rs. 5 lakhs along with interest @ 18 per cent per annum thereon, as the said conversion was without authority of law.