“ In respect of the property i.e. Shop No. 81, Sheth-nipole, Ratan Pole, Ahmedabad, the copy of the sale deed executed on 18-09-82 was submitted. As per the sale deed AP-1 had purchased the one half portion of the said shop for Rs. 40,000 and had 50% share only. For the balance 50% share belonging to the detenue Shri Indulal Shivlal Soni separate proceedings are initiated vide show cause notice no. CA/AHD/2(b)/I-2/97-98 Dt. 17-02-99 which are stayed by the High Court of Gujarat. In respect of AP-1’s 50% share it was contended that AP-1 had made the payment of Rs. 5,000 on 14-09-82 vide cheque No. 158554 drawn on Manekchowk Co-op Bank Ltd. and Rs. 35,000/- by cash on 18-09-82. AP1 further submitted that the investment in the impugned property had been accounted for in the books of account and duly reflects in the balance sheet for AY 1983-84. The said investment was stated to be reflected in the shop purchase account filed with the return of income filed by AP-1 for AY1983-84. On going through the same it is seen that AP-1 had shown the investment in the statement of income filed with the return of income for AY-1983-84. On going through the balance sheet it is seen that the property mentioned in earlier para-23 at Rs. 51,675. On the liability side of the balance sheet AP-1 for Rs. 3,000 from Jayantilal M. Soni, Rs. 10,000 from Neemchand B. Soni and Rs. 10,000 from Girdharlal B. Soni and Rs. 4,000 from Jyotsna A. Soni (AP-2). It is further seen from the balance sheet that the creditors includes Rs. 7,500 being received from the detenue whose source has not been explained. As a sum of Rs. 7,500 of the detenue was utilized for acquiring the property, it has direct nexus of the utilization of illegally earned income of the detenue and hence the property is liable for forfeiture. However, as out of total cost of Rs. 40,000, the AP-1 could explain the source of Rs. 32,500 only which is more than 50% of the total investment and also as the AP had requested to give benefit of section 9 of the Act, I give an option under section 9 of the Act to pay a fine of Rs. 9,000 i.e. a fine equal to one and one fifth times the value of unexplained amount in lieu of forfeiture.”
