Dismissing the writ petition the Court held, that a perusal of the satisfaction note for commencing search proceedings revealed that the assessee was a non-filer for the assessment year 2019-20. The note also revealed that the assessee had five rental yielding properties and that investment for construction of properties was not reflected in the books of account of the assessee. It was specifically observed that the field enquiries revealed that the assessee had collected cash against sale agreements and used the amount as unaccounted investment in the form of advance for property purchase. There were specific details relating to the amount paid. It concluded that in the light of the facts stated including the details of the project that the assessee would be in possession of money, bullion, jewellery or other valuable article or thing which represented partly or wholly the income of the assessee. The exercise of power invoking section 132 of the Income-tax Act, 1961 held to be valid. (AY.2019-20)