9911796707
TMI Blog2023 (12) TMI 1416X X X X Extracts X X X X X X X X Extracts X X X X ..... KERALA HIGH COURT], in which this Court considered a similar matter in detail and found that the Income Tax department is not entitled for the amount. In the above order, this Court specifically observed that the order passed by the learned Magistrate ordering the handing over of the amount to the revenue in such situation can not be sustained. Conclusion - The orders by the Judicial First Class Magistrate Court, Nilambur, directing the release of the seized amount to the Income Tax Department were set aside. The petitioners were granted the release of the seized amount upon furnishing a bond and sureties, ensuring compliance with procedural requirements. In the light of the above order, these Criminal Miscellaneous Cases are to be allowe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... which was withdrawn from his bank with Canara Bank, Koduvally Branch which he raised by way of sale of gold ornaments, is the submission. Similarly the 2nd petitioner also raised an amount of Rs. 33,10,150/- by selling the gold ornaments and the other petitioners also raised amount. According to the petitioners, the entire amount are accounted money. It is further submitted that there was a negotiation between the petitioners 1 and 2 with the owner of Mughal Treat Restaurant in the presence of the broker. However, the vendor of the property refused to bring down the price from Rs. 165 lakhs to Rs. 150 lakhs. Therefore, the talks failed and the same did not take place. Thereafter, the 1st and 2nd petitioners returned from Banglore to Kozhiko ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Criminal Miscellaneous Cases are to be allowed. 5. When these Criminal Miscellaneous Cases came up for consideration, the learned Standing counsel appearing for the Income Tax Department submitted that the issue is covered by the order dated 26. 09. 2023 in Crl. M. C. No. 5034/2023, but the same is challenged before the Apex Court by filing SLP (Crl.) No. 16409/2023. Therefore, this Court granted some time to obtain necessary orders from the Apex Court. Now both sides conceded that the Apex Court dismissed SLP (Crl.) No. 16409/2023. A copy of the same is produced as Annexure A16 in Crl. M. C. No. 5605/2022. If that be the case, these Criminal Miscellaneous Cases are to be allowed. Therefore, these Criminal Miscellaneous cases are allowed ..... X X X X Extracts X X X X X X X X Extracts X X X X
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