Liability u/s 132(5) can be determined only if proper Assessments is made

In the case of CIT v Sri Chand Gupta, Delhi High Court held that during search and seizure under section 132, any declarations made by the assessee could not discharge his liability to the extent of cash seized as Section 132(5) of the Act does not deal with appropriation of the assets seized. Also, it was held that in the absence of any return filed, assessment or determinative process, ITO cannot determine the liability.