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Mere possession of valuable items not sufficient to form a belief that same not been or would not be disclosed
Case Law Details
- Case Name
- LKS Bullion Import and Exort Pvt Ltd Vs Director General of Income Tax(Gujrat High Court at Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Gujarat High Court
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Mere possession of money, bullion, jewelery or such valuable article or thing per-se would not be sufficient to enable the competent officer to form a belief that the same had not been or would not be disclosed for the purpose of the Act. What is required is some concrete material to enable a reasonable person to form such a belief. It is, of course, true that such belief is a matter of subjective satisfaction of the competent authority. Such subjective satisfaction, however, must be formed on the basis of the material on record and objective assessment of such material and ca...
