In the result, the appeal is partly allowed
Bench: Shri N.R.S. Ganesan & Shri Sanjay Arora
section, as long as the source of power exercised is available, would be of no moment (L. Hazarimal Kuthiala (supra); Hukumchand Mills Ltd. v. State of Madhya Pradesh & Anr. [1964] 52 ITR 583 (SC)). There are in fact several aspects to the matter – all in favour of saving the assessment proceedings, and even if the seized material had been