JUDGMENT

Akil Kureshi, J. - At the request of the parties, the Petition is taken up fo final disposal at the stage of admission.

2. This Petition under Article 226 of the Constitution of India, seeks following reliefs:

(i) set aside the order dated 28th June, 2018 of Respondent No.1 (Assessing Officer), rejecting the claim for interest on Rs. 35 lakhs seized on 9th October, 2014 for the period 1st February, 2015 to 6th March, 2018;

(ii) direct the Respondent No.1 to grant interest on Rs. 35 lakhs seized on 9th October, 2014 for the period 5th February, 2015 to 30th June, 2017; and

(iii) direct the Respondent No.1 to grant interest on R.31.50 lakhs i.e. the balance remaining out of Rs. 35 lakhs after adjustment of Rs. 3.50 lakhs as penalty for the period 1st July, 2017 to 6th March, 2018.

3. Briefly, the fact leading to this Petition are as under:(

(i) On 9th October, 2014 a search under Section 132 of the Income Tax Act, 1961 (the Act) was conducted in the office premises of the Petitioner. During the course of the search, cash of Rs. 35 lakhs was seized as recorded in the panchnama dated 9th October, 2014;

(ii) On 31st March, 2015, the Petitioner by a communication addressed to Res