K.SHIVASHANKAR BHAT
Southern Herbals Ltd. – Appellant
Versus
Director of Income Tax (Investigation) – Respondent
K. Shivashankar Bhat, J.—The petitioner-company challenges the search and seizure proceedings made under section 132(1) of the Income Tax Act, 1961 ("the Act", for short). The petitioner also challenges the prohibitory order as extended from time to time. It also seeks a mandamus to the respondents to furnish a copy of the order made under section 132(1) including the various search warrants. The company was formed in the year 1984, originally as a private limited company ; subsequently, it was converted into a public limited company with effect from November 21, 1988. It obtained a 100 per cent. export licence. Its object is to manufacture anti-cancer and anti-hypertension drugs to be extracted from herbal plants. In the first instance, the petitioner developed the lab technology and later a German company developed the production technology on the basis of a turnkey agreement with the petitioner. It is unnecessary to refer to the other details here. According to the petitioner, the company commenced its production on February 26, 1993, and exported the first consignment worth about Rs. 3.27 crores by the end of March, 1993. The petitioner has claimed exemption under secti
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