2012 (7) TMI 773

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.... For Respondent:- SRI.JOSE JOSEPH, SC, FOR INCOME TAX   P.R. RAMACHANDRA MENON, J.   J U D G M E N T   The petitioners have approached this Court with the following prayers:   "1) to issue a writ of mandamus or any other appropriate writ, order or direction, directing the 1st respondent to lift the attachment of the Savings Bank Accounts of the petitioners vide Ac....

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....Counsel submits that there is absolutely no rhyme or reason on the part of the respondents in causing the bank account of the minors to be attached; more so in view of the clear mandate given by a Division Bench of this Court vide Ext.P2 judgment.   3. The learned Standing Counsel appearing for the respondent Department submits that the reliance sought to be placed on Ext.P2 judgment is no....

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....tteries and have diversified the business to the fields of Textiles and Bakery as well. In respect of the concerned assessment year, quite a substantial amount is due and proceedings are being pursued by the concerned authorities . It is also stated that the notice under section 226(3) was issued referring to due amount of Rs.3,96,11,904/-. But subsequently, it was observed that there was an inadv....

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.... not being operated by the minors and the nature of transactions clearly reveal that it is part of the running business by the concerned firm. The sum and substance of the contentions of the petitioners is however that the Division Bench of this Court, in respect of the assessment year 2008-09 has intercepted the coercive proceedings subject to satisfaction of a sum of Rs.50 lakhs, which is stated....