SANJAY KAROL,J. - (1.)The following issues emerge for our consideration:
1) Whether the search and seizure warrant issued under Section 132 of the Income Tax Act, 1961 against the Petitioner is illegal and ultra-vires?

2) Whether the High Court under writ jurisdiction can question the sufficiency and adequacy of the reasons recorded in the satisfaction leading to the issuance of search and seizure warrants?

(2.)According to satisfaction note dated 24th October, 2008 authored by the Assistant Director of Income Tax (Inv.) Jamshedpur, leading to the issuance of the warrant of authorization by the competent authority on 27th October, 2008, premises of the persons mentioned therein, including the present Petitioner, namely, Ajay Kumar Singh were searched on 7th November, 2008. Undisputedly, certain articles, including cash, jewellery and papers were recovered from the bank locker jointly held by the Petitioner with his wife. Allegedly, reports and documents recovered revealed undisclosed transactions of considerably high value, running into thousands of lakh of rupees.
(3.)Petitioner lays a challenge to the warrant of authorization dated 27th October, 2008 and consequential action of conduct of search and seizure operation on 7th November, 2008, to be illegal, unauthorized and ultra vires the provisions of Section 132 of the Income Tax Act, 1961 and Rules 112 of the Income Tax Rules framed thereunder.