Cash seized
munish
(Querist) 08 April 2013
This query is : Resolved
that the cash of Rs. 10 Lakh was seized from A ( Son of B ) who withdraw cash from B's C/C limit, statement given by both person before Dy.Dir. Investigation and also accepted that he ( B ) given self cq.to A ( Son ) for withdraw cash from bank on behalf of he ( B ). Photo copy of cq. was also provided to Dy.Dir. Investigation in which signature of A also available and bank statement also shown the payment given to A. Now my question is that the withdrawal from bank was no income then is it necessary to initiate proceeding u/s 153a or 153c for release of cash seized ?
if any favorable citation available then provide me .
munish
(Querist) 09 April 2013
Sir, my question is that if it is already proved that the seized cash was withdrawal from c/c limit account which was no income. Then no question arise for disclosed income or undisclosed income then why proceeding required u/s 153A.
