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Survey, Search & Seizure | 59 |has to be kept in mind in dealing with such cases. Therefore order passedu/s 132(3) may be qualified with the proviso that the lender may part withthe promissory notes only on the condition that the borrower pays themoney to the Income-tax Department and not to the lender.C. Instruction No: 530 date of Issue: 22/3/1973In the circumstances normally the search warrant is only required tobe produced to the person whose premises are searched and it is notnecessary that a copy of the search warrant should be supplied to him. If,however, a writ petition is filed in the High Court challenging the validityof the search and the High Court directs that a copy of the search warrantshould be furnished to the person whose premises are searched it shouldbe complied with.d. Instruction No.994-CbdT f.No. 286 / 37 / 76-IT (Inv.), dated 31-7-1976If as a result of a search conducted by the Department under section 132 ofthe Income-tax Act, 1961, an article is placed under a prohibitory order/seized, which, prima facie, appears to be an antiquity or of such an artisticor aesthetic value as worthy of being declared an “art treasure” in termsof section 2 of the Antiquities and Art Treasures Act, 1972, it should beimmediately brought to the notice of the Superintending Archaeologistof the area (list of Superintending Archaeologists annexed) and his advicesought whether the article is an antiquity or worthy of declaration as anart treasure. Thereafter, a report should be made (in duplicate) as early aspossible to the Director of Inspection (Inv.) giving full particulars of thearticle, the advice received from the Superintending Archaeologist, alongwith its approximate market value as given by the latter and/or a valuer.The article should not be released to the assessee or otherwise disposed oftill the receipt of the Director of Inspection’s instructionIt may be carefully noted that in view of the provisions of the Antiquitiesand Art Treasures Act, the Income-tax Authorities cannot undertakeany sale / auction of antiquities. When an antiquity or art treasure iscompulsorily acquired by the Government, the compensation amount willbe dealt with in accordance with the provisions of section 132 / 132B ofthe Income-tax Act. If the Director General, Archaeological Survey of Indiaadvises that the Government are not interested in acquiring an antiquity, itwill have to be sold, where necessary, through a licensed dealer.www.taxguru.in