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Showing 221 to 225 of 225 Records
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1986 (12) TMI 5 - CALCUTTA HIGH COURT
Appeal To Supreme Court ... ... ... ... ..... present application has been filed on November 13, 1986. It appears to us that no grounds have been made out by the Revenue for condonation of the delay. Most of the material allegations in the petition are verified as based on records and not on anybody s personal knowledge. There is no explanation for the delay which occurred during the intervening period at all. There is no explanation for the delay of more than one month in instructing the lawyer to draw up the application for leave to appeal to the Supreme Court after the certified copy of the judgment and order was received. Similarly, there is no explanation for instructing the advocate-on-record to draft the application for condonation of the delay on August 21, 1986, when the time to file the application for leave to appeal expired on July 21, 1986, itself. The two applications could have been combined and moved much earlier. This application is rejected. There will be no order as to costs. MONJULA BOSE. J.-I agree.
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1986 (12) TMI 4 - ANDHRA PRADESH HIGH COURT
Business, Income From Other Sources ... ... ... ... ..... sitating the exploitation of the asset for use otherwise, that business activity does not impress the asset with the incident of a commercial asset. As Jeevan Reddy J. pointed out in CIT v. Aryan Industries Ltd. 1982 138 ITR 718 (AP), the totality of the circumstances has to be surveyed. The decision in CIT v. Northern India Theatres (P.) Ltd. 1981 128 ITR 497 (Delhi), Sri Ram Mahadeo Prasad v. CIT 1961 42 ITR 211 (All) and CIT v. Prem Chand Jute Mills Ltd. 1978 114 ITR 769 (Cal) turned upon the facts and the exploitation of the assets for business purpose and the intention to continue the same despite the lease during lull period are emphasised. The decision of the Calcutta High Court in CIT v. Ajmera Industries (P.) Ltd. 1976 103 ITR 245 bears close affinity to the facts in the instant case. In the result, the income from lease of machinery should be assessed as income from other sources. The question is answered in favour of the Revenue and against the assessee. No costs.
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1986 (12) TMI 3 - RAJASTHAN HIGH COURT
Anticipatory Bail, Offences And Prosecution ... ... ... ... ..... d petitioner, Prahlad Rai Saraf, shall be released on bail in Case No. 340 of 1986, pending trial in the Court of the Chief Judicial Magistrate (Economic Offences) Jaipur City, Jaipur, under section 276C of the Income-tax Act, 1961, provided he furnishes personal bond in the sum of Rs. 30,000 with two sureties in the amount of Rs. 15,000 each to the satisfaction of the learned Chief Judicial Magistrate, Jaipur City, Jaipur, with the following conditions (1) that he shall make himself available for interrogation by a police officer (Department) as and when required (2) that he shall not, directly or indirectly, make any inducement, threat or promise to any person acquainted with the facts of the case so as to dissuade him from disclosing such facts to the court or to any police officer (Department) (3) that he shall not leave India without the previous permission of the court. The arrest warrant issued by the court is altered to be a bailable warrant in the sum of Rs. 10,000.
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1986 (12) TMI 2 - MADHYA PRADESH HIGH COURT
... ... ... ... ..... ecting the reference application under section 256(1) of the Act, has mentioned as follows An identical question was referred to this Hon ble court in the case of the assessee for the assessment years 1974-75 to 1979-80 and their Lordships of the M. P. High Court in Miscellaneous Case No. 120 of 1982, decided the same on July 8, 1983, in favour of the assessee and against the Revenue which is reported in 1984 149 ITR 438 ( CIT v. Dhar Central Co-operative Bank). In ITA No. 1279, the Tribunal had simply followed the above decision as it was conceded by the Department that the facts and the circumstances for the assessment year 1980-81 remained the same as they were in the assessment years 1974-75 to 1979-80. Since, the High Court has already given its opinion on the question sought to be referred, no question arises which may require this court to direct the Tribunal for stating the case with regard to the aforesaid question. The application is, therefore, dismissed summarily.
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1986 (12) TMI 1 - JAMMU AND KASHMIR HIGH COURT
Search And Seizure ... ... ... ... ..... ed single judge has no power to pass such an order under section 132 of the Act. The passing of any order in aid of seeking observance of the provisions of the Income-tax Act would depend on the facts of each case. The learned single judge is seized of the matter and, therefore, he has to decide the application as also the objections filed by the respondents on merits having regard to the facts and circumstances of the case. We are sure that as and when Mr. Bakshi appears before him, the learned single judge would accord consideration to the objections of the appellants and thereafter pass orders as warranted under law. We have not found any illegality or infirmity in the impugned orders. These do not decide any right of the appellants, much less to their disadvantage. As such no interference with the said orders is called for. We accordingly refrain from interfering with the impugned orders. With these observations, these three appeals as also the C. M. Ps. are disposed of.
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