RAJESH GUPTA & ORS. vs ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 31 DELHI & ORS.

Judgment text excerpt

* IN THE HIGH COURT OF DELHI AT NEW DELHI % Judgment Reserved on: 11.11.2025 Judgment delivered on: 23.12.2025 Judgment uploaded on: As per Digital Signature~ + W.P.(C) 12433/2025 & CM APPL. 50663/2025 RAJESH GUPTA & ORS. .....Petitioners versus ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 31 DELHI & ORS. .....Respondents Advocates who appeared in this case For the Petitioners : Ms Kavita Jha, Sr Advocate with Mr Vaibhav Kulkarni and Mr Himanshu Aggarwal, Advocates For the Respondents : Mr. Indruj Singh Rai, SSC Mr. Sanjeev Menon, Mr. Rahul Singh, JSCs and Mr. Gaurav Kumar, Advocate. CORAM: HON'BLE MR. JUSTICE V. KAMESWAR RAO HON'BLE MR. JUSTICE VINOD KUMAR JUDGMENT V. KAMESWAR RAO, J. 1. This petition has been filed with the following prayers: “a. quashing the impugned order dated 18.07.2025 passed by Respondent No. 1; and b. releasing the Gold (Coins) and jewellery seized in terms of Annexures B-1, B-2, J-1, J-2, J-3 & J-4 [Annexure C to the Signature Not Verified Signed By:PRADEEP WP(C) No.12433/2025 Page 1 of 65 SHARMA Signing Date:23.12.2025 16:09:48 present writ petition]; and/or” 2. This present petition is a second round of litigation before this Court. The petitioners no. 1 and 2 are husband and wife and the petitioners no. 3 and 4 are their children. The brief factual background surrounding the case is that the petitioners herein, were subjected to a search and seizure operation at their residence which was conducted by the respondent/Revenue from 09.10.2024 to 11.10.2024, based on a search warrant authorized by the respondent no.3 under Section 132 of the Income Tax Act, 1961 (the Act). 3. During the search, the following gold and jewellery were seized by the Revenue: i. Gold (coins etc.) - 104 Grams; ii. Jewellery - 4,808 Grams approx. being the value