IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH. C.W.P. No. 10258 of 2007 DATE OF DECISION : 30.07.2008 Roxy Industrial Corporation, Ludhiana .... PETITIONER Versus Commissioner of Income Tax (Central) Ludhiana and others ..... RESPONDENTS CORAM :- HON'BLE MR. JUSTICE SATISH KUMAR MITTAL HON'BLE MR. JUSTICE AUGUSTINE GEORGE MASIH Present: Mr. Pankaj Jain, Advocate, for the petitioner. Mr. K.K. Mehta, Advocate, for the respondents. * * * SATISH KUMAR MITTAL , J. ( Oral ) In this writ petition, the prayer of the petitioner is to issue direction to the respondents to release the jewellery and silver articles, which were seized in consequence of the action under Section 132 of the Income Tax Act on 7.8.1992. Counsel for the respondents, while referring to the letter dated 21.2.2006, draws our attention to the fact that the Department was and is ready to release the jewellery and silver articles, provided the petitioner furnished a bank guarantee of an equal amount of the jewellery and silver CWP No. 10258 of 2007 -2- articles. Counsel for the respondents states that if the petitioner furnishes the bank guarantee with regard to the value of the jewellery and silver articles within one month, the same will be released immediately. In view of the aforesaid statement of counsel for the respondents, counsel for the petitioner, after having instructions from the petitioner, states that the petitioner will furnish bank guarantee of the value of the seized jewellery and silver articles. Consequently, it is ordered that if the petitioner furnishes the bank guarantee of the value of the jewellery and silver articles, which were seized by the department, the respondents shall release the same immediately. Disposed of accordingly. ( SATISH KUMAR MITTAL ) JUDGE July 30, 2008 ( AUGUSTINE GEORGE MASIH ) ndj JUDGE