Importance of Sec 12 and Confessional statement under sec 15 on order pass for terrorist activities

 28 May 2013

A common charge of conspiracy was framed against all the co-conspirators including the appellants. The relevant portion of the said charge is reproduced hereunder: “During the period from December, 1992 to April, 1993 at various places in Bombay,

Posted in Criminal Law |    0 comments |   877 hits


Whether Company Judge has jurisdiction at the instance of the Official Liquidator to set aside the auction or sale held under the RDBFI Act, 1993

 27 May 2013

The spinal issue that has spiralled to this Court is whether the Company Judge under the Companies Act, 1956 (for short “the 1956 Act”) has jurisdiction at the instance of the Official Liquidator to set aside the auction or sale held by the Recovery

Posted in Corporate Law |    0 comments |   1183 hits


Credit Rating Agencies must abide by the Code of Conduct

 25 May 2013

The present appeal under Section 15Z of the Securities and Exchange Board of India Act, 1992 (“the SEBI Act”) is directed against the impugned judgment and final order dated 9th November, 2011 passed by the Securities Appellate Tribunal, Mumbai (“the

Posted in Corporate Law |    0 comments |   1232 hits


In case of failure of any party to appoint arbitrator chief justice under section 11(6) is responsible to take necessary steps

 24 May 2013

The questions that arise for consideration in this appeal, by special leave are, whether respondent No. 1 has forfeited its right to appoint the arbitrator having not done so after the demand was made and till the appellant had moved the court under

Posted in Civil Law |    0 comments |   1371 hits


Succession Act, 1925 - Secs. 57, 213 - Compulsory Requirement of Probate

 24 May 2013

SUCCESSION ACT, 1925 - SECS. 57, 213 - COMPULSORY REQUIREMENT OF PROBATE - PETITIONER IS A HOUSE WIFE AND HER FATHER IN LAW PURCHASED THE PROPERTY IN GANDHINAGAR - EXECUTION OF WILL BY THE FATHER IN LAW OF THE PETITIONER - AS PER THE WILL, THE PROPER

Posted in Property Law |    0 comments |   9914 hits


Is the claimant entitled to recover escalation in wages and if so to what extent

 23 May 2013

The appellant, National Thermal Power Corporation Limited (for short ‘NTPC’) is a Government Company registered under the provisions of the Companies Act, 1956. It is engaged in construction/project for generation, operation, transmission and mainten

Posted in Civil Law |    0 comments |   991 hits


Computation of Deduction under section 10A and depreciation on computer accessories

 22 May 2013

The relevant facts of the case are that in the year under consideration the assessee who is wholly owned subsidiary of Honeywell International Inc. Returned ncome of Rs.15,63,19,080/- by way of filing return on 30th November, 2006. The assessee compa

Posted in Taxation |    0 comments |   1405 hits


Decision on cash purchase directly from growers and applicability of rule 8D

 21 May 2013

The issue of cash purchases was also examined in the preceding years. While during the course of the assessment proceedings for the assessee had categorically submitted that the raw materials i.e carcass had been purchased through agents, as also the

Posted in Taxation |    0 comments |   844 hits


Services provided without human intervention cannot be treated as technical service

 20 May 2013

Non-deduction of tax source u/s 192 of the Act in respect of non-inclusion of performance incentive for the purposes of calculating exemption u/s 10(13A) of the Act; and (ii) Non deduction of TDS u/s 194J from the payment made for the use of telecomm

Posted in Taxation |    0 comments |   1784 hits


Revised tax effect for appeal applies to all pending appeals

 17 May 2013

We draw the attention of the ld. DR regarding the tax effect on the deletion of addition of Rs.9,05,643/- which is less than Rs. 3.00 lakh. This position is admitted by the ld. D.R. Therefore, as per the Instruction No. 3/2011 dated 09.02.2011 the re

Posted in Taxation |    0 comments |   1030 hits


Registration of trust under section 12A IT Act 1961

 16 May 2013

At the time of hearing before us, it was stated by the learned counsel that the DIT(Exemptions), vide his order dated 29th September, 2010, refused to register the trust. However, subsequently, the same DIT(Exemptions), vide order dated 6th April, 20

Posted in Taxation |    0 comments |   2199 hits


If the appeal has no effect on tax liability its liable to be dismissed

 14 May 2013

At the time of hearing before us, it was stated by the learned counsel that in both the years, despite huge additions, the assessed income is loss. That the set off of this loss has never been claimed in the subsequent years because in the subsequent

Posted in Taxation |    0 comments |   916 hits


Realisation of shares cannot be treated as commission

 13 May 2013

On the facts and in the circumstances of the case, the ld.CIT(A) has erred in deleting the addition of Rs.15,00,000/- made by the Assessing Officer u/s 68 of I.T.Act, 1961 in respect of unexplained cash credits without appreciating the fact that the

Posted in Taxation |    0 comments |   883 hits


Long term capital gain under section 50C of the Income Tax Act

 11 May 2013

That on the facts and in the circumstances of the case, the Assessing Officer had erred in invoking provision of section 50C of the I.T. Act thereby computing the long term capital gain at Rs. 74,15,381/-. The Ld. Commissioner of Income Tax (A) is al

Posted in Taxation |    0 comments |   4643 hits


Absence without application for adjournment can treat the appeal dismisses

 10 May 2013

However at the time of hearing, no one was present on behalf of the assessee. The appeal was passed over twice. Despite the same, neither the assessee was present nor any request for adjournment has been placed before the Bench. The record shows that

Posted in Taxation |    0 comments |   1075 hits


Intimation u/s 143(1) cannot be disturbed subject to the reason recorded by AO

 09 May 2013

Brief facts of the case are that assessee was running a proprietary business as whole seller at Nainital. It had filed its return of income declaring total income of Rs. 1,90,000/-. The Assessing Officer, vide order sheet entry dated 19th August, 200

Posted in Taxation |    0 comments |   1439 hits


AO cannot make any addition without giving adequate opportunity to assessee

 08 May 2013

The assessee has raised various grounds in its appeal. However, at the time of hearing before us, the main contention of the learned counsel for the assessee was for setting aside the matter to the file of the Assessing Officer or the CIT(A). He subm

Posted in Taxation |    0 comments |   1123 hits


Reopening of the assessment under Section 148

 07 May 2013

On the facts and circumstances of the case the ld.CIT(A) erred in deleting the addition of Rs.2,26,248/- made on account of jewellery by ignoring that no investment in jewellery was disclosed and no wealth tax return was filed. On the facts and circu

Posted in Taxation |    0 comments |   905 hits


If issue set aside by ITAT further appeal on same subject is deemed to be set aside subject to the condition

 06 May 2013

However, at the time of hearing before us, it was pointed out by the learned counsel that the learned CIT(A) had allowed only part relief and, therefore, against the addition sustained at `3,45,914/-, the assessee had filed appeal before the ITAT. Th

Posted in Taxation |    0 comments |   1046 hits


Limit of Tax effect for filling appeal before Tribunal applicable for all pending appeal

 04 May 2013

We draw the attention of the ld. DR regarding the tax effect on the deletion of addition of Rs.9,05,643/- which is less than Rs. 3.00 lakh. This position is admitted by the ld. D.R. Therefore, as per the Instruction No. 3/2011 dated 09.02.2011 the re

Posted in Taxation |    0 comments |   1543 hits










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