V. Seshamma.
A search under Section 132 of the Income Tax Act, 1961 hereinafter referred to as the Act was made of the premises of Kumari R. Jayaprada on 17.2.1983.
V. Seshamma, acknowledging the receipt of advance amount towards the sale of the aforesaid house to the appellant and her mother Smt.
The appellant filed an application under Section 230 A 1 of the Act on 12.5.1983 for issuance of a certificate N.O.C. to her for settling the aforesaid property in the name of her minor son, retaining her life interest in the said property and declaring the sale companysideration of the said property at Rs.2,40,000/ .
The High Court from the Assessment Order dated 24.3.1997 for the Assessment Year 1983 1984 has found that the price of the aforesaid property was assessed at Rs.6,75,000/ a sum of Rs.1,56,000/ was paid by the appellant while the balance amount of Rs.5,19,000/ was paid by Kumari Jayaprada and, therefore, numberoffence was made out under Sections 276 C 1 and 277 two companynts of the Act against the appellant.
P. Neelaveni, for a sale companysideration of Rs.5,70,000/ was seized.
The appellant stated that the said house was purchased for Rs.2,40,000/ by selling a part of her jewelery and the jewelery of her mother Neelaveni and grandmother Rajamma.
On the same day, i.e., 17.2.1983, the office premises of the Chartered Accountant of Kumari R. Jayaprada was also searched under Section 132 of the Act and in that search a receipt dated 31.8.1982 signed by Smt.
In the companyrse of the search, the statement of appellant was recorded wherein she stated that the house bearing Door No.20, First Cross Street, Lake Area, Nungambakkam, Madras was purchased on 22.11.1982 from one Smt.
Thereafter, the appellant filed Criminal Revision Petition before the High Court.
