Hon’ble Court held that the Investigating Officer who has seized the goods on the basis of which reassessment proceedings were initiated, did not share it with the AO of the assessee within the period of 15 days as mandated under section 132(9A) of the Act. Further, the decision of the AO to initiate the reassessment proceedings under section 147 was not independent but at the behest of the superior officer. Hence, the entire proceedings is bad in law. Order of Tribunal is affirmed. Rule of law is of the elementary principle of Constitution of India. The rule of law requires rule within the ambit of law and every statutory authority must function themselves as required under the law. Every authority may however, high should only function within four corners of law because the rule of law requires  that all machinery of State must function according to mandate of statute.   (AY. 1988-89 to 1992-93)