COMMISSIONER OF INCOME TAX CENTRAL III vs. SHILPI SECURITIES PVT LTD
ITA - 130 / 2009HC Delhi30 Nov 2009
Section 132(1)Section 158B
cash deposits. Having regard to the facts and
circumstances,
the
specific
provisions
of
Section
158BE(1)
Explanation 2A, Section 132(3) Explanation, Section 132(8) and the
case law cited above, it is submitted that this ground is also baseless
and invalid.
17.
Submission of learned counsel for the assessees ... restraint orders were held to be invalid for want of approval of the
Commissioner which was required to be obtained under Section
132(8)(a) for extension of the restraint beyond 60 days. Accordingly,
we decide the question of limitation in favour of the Revenue and as
a consequence
