SUNIL AMBWANI, SURYA PRAKASH KESARWANI, JJ. - (1.) AN affidavit of service, in compliance with order dated 5.9.2007, has been filed. No one appears for respondent. We have heard Sri R.K. Upadhyay for the appellant.
(2.) THIS Income Tax Appeal under Section 260 -A of the Income Tax Act 1961 (in short, the Act), arises out of an order passed by the Income Tax Appellate Tribunal dated 30.06.2004, in respect of Block Period 1.4.1991 to 16.02.2001. The appeal has been preferred on the following substantial questions of law. "(1) Whether on the facts and in the circumstances of the case, decision of the Tribunal was not against the law because it was passed after ignoring the specific provisions of Explanation -2 of sub -section 2 of Section 158 BC of the Act with regard to execution of warrant? (2) Whether on the facts and in the circumstances of the case, the Tribunal was correct in quashing the Block assessments by pointing out certain defects in the notice issued by the AO u/s 158 BC of the Act though such defects were curable in the light of provisions of Section 292 -B of the Act." Brief facts, giving rise to this appeal are that on 2.4.2000, the police of Palanpur, District Banskantha of Gujarat intercepted a Jeep No. HP -03/3313, in which seven persons, including the five assessees were travelling. Large quantity of silver ornaments/silver was recovered from these persons. So far as Vinod Kumar, the respondent -assessee is concerned, 79.271 Kg of silver jeweleries were recovered from his possession. The police gave information to the Director of Income - tax, Investigation, about the seizure of the silver ornaments/silver from the five persons including respondent -assessee Sri Vinod Kumar.
(3.) THE Director of Income -tax, Investigation, after having received the information, issued a warrant of requisition under Section 132 -A of the Act on 3.4.2000, directing the Superintendent of Police Palanpur, District Banskantha, Gujarat, to deliver the said silver jewellery/silver to the Income -tax Officer authorized, as per warrant of requisition, which was served on the Superintendent of Police on 5.4.2000. Since the persons, from whose possession, these items were seized, had approached the court, for release of jewellery by police to the department, which was ultimately delivered on 16.02.2001, the Assessing Officer having jurisdiction over income -tax cases, issued notices to five assessees under Section 158 BC of the Act on 30.03.2001.;