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Others Judgments and Orders

SC: Will drawn up in English is valid, even if the testator is ignorant of the language.

 15 September 2014

The Supreme Court bench comprising of Justices Ranjan Gogoi and R.K. Agrawal held that a Will drawn up in English is valid, even if the person bequeathing his/her property was ignorant of the language, provided the content was explained to the testat..

Posted in Others |  1 comments |   5968 hits

CCI imposes penalty of Rs. 2544.64 crores on car companies

 27 August 2014

The Competition Commission of India found 14 car companies in contravention of the provisions of the Competition Act, 2002. Commission also imposed a penalty calculated at the rate of 2% of the average turnover of the 14 car companies amounting to Rs..

Posted in Others |  5 comments |   4958 hits

NGT directs MoEF to appoint only experts in panels

 21 July 2014

The National Green Tribunal bench headed by Justice Swatanter Kumar directed the Ministry of Environment and Forest not to appoint persons as Chairperson/Members of the Expert Appraisal Committee/State Expert Appraisal Committee who do not have exper..

Posted in Others |   4252 hits

Physical Meetings cannot be substituted by postal ballots

 12 July 2014

The issue raised before the Bombay High Court was that whether a resolution for approval of a Scheme of Amalgamation can be passed under Section 110 of the Companies Act, 2013 and SEBI Circular dated May 21, 2013, by a majority of the equity sharehol..

Posted in Others |  1 comments |   4039 hits

Whether transfer of shares under a family agreement are for a determinable "consideration" or "voluntary", whether the shares are received under a "gift" and benefit of cost and holding period be claimed by transferee?

 17 June 2014

The Respondent is an investment company in which individual members of the Bilakhia family held equal interest. The family members executed a deed of family arrangement with an objective to consolidate and equalize values of the assets held by each o..

Posted in Others |  1 comments |   4018 hits

Law explaining formation of AOP & taxability of off-shore supply & services

 01 May 2014

The petitioner - Linde had formed a consortium with Samsung through MOU for jointly submitting a bid to secure a tender floated by OPAL to execute a project on turnkey basis. The proposal was accepted by OPAL. The consortium entered into an agreement..

Posted in Others |  2 comments |   3160 hits

Whether notices can be issued for TDS default u/s 205 & Sec. 40(a)(i) disallowance if no income arises to the recipient?

 30 April 2014

Two writ petitions were filed under Art. 226 of the Constitution of India, challenging the jurisdiction of the first respondent to (i) reopen the assessment by issue of a notice under section 148 of the Income Tax Act, 1961 (“the Act”) and (ii) to tr..

Posted in Others |  1 comments |   4323 hits

Special capital incentive by state govt: whether capital receipt?

 25 April 2014

Assessee is a company engaged in the business of manufacturing of internal combustion engines had filed the return of income for the Assessment Year 1997-98 on 30.11.1997 declaring the total income of Rs.41,93,64,490/.The Assessing Officerassessed th..

Posted in Others |   2875 hits

SC: Secured creditor cannot take over possession of the secured asset with the lessee under a valid lease

 11 April 2014

The appellants who were tenants of different premises in Mumbai had mortgaged the premises to different banks as securities against loans. The appellants defaulted in repayment loans. The respondents issued notices of 60 days period under SARFAESI A..

Posted in Others |  2 comments |   6165 hits

Distance Education degree not eligible for LLB

 04 April 2014

Justice K. Vinod Chandran has held that that the graduate degree obtained through the distance education mode, can not be considered as an eligible qualification for admission to three year LL.B course...

Posted in Others |  7 comments |   7367 hits

Delhi HC finds BJP and Congress guilty of violating FCRA

 31 March 2014

The bench comprising of Justice Pradeep Nandrajog and Justice Jayant Nath on a writ petition filed in public interest found political parties BJP and Congress to be guilty of violating Foriegn Contribution (Regualtion) Act, 1976 by accepting foreign ..

Posted in Others |   2115 hits

Delhi HC rejects plea of schools on nursery admission guidelines

 21 January 2014

The Delhi High Court dismissed the plea of unaided private schools, seeking a stay on Delhi government's nursery admission guidelines including scrapping of 20% Management Quota. Important highlights from the judgment by bench comprising Chief Jus..

Posted in Others |   2367 hits

Account of disallowing warrant cost & warranty cost for computing the book profit u/s 115JBV of IT Act

 06 January 2014

This is a set of two revenue’s appeals for A.Y. 2004-05 and 2005-06 on the quantum assessment and the corresponding cross-objections by the assessee. Revenue has also filed appeal against deletion of penalty u/s 271(1)(c) for A.Y. 2005-06...

Posted in Others |   2315 hits

Ascertained liability allowable under the mercantile system of accounting (Principle of Consistency)

 31 December 2013

The assessee is a Company and is engaged in the business of manufacturing of white crystal sugar. It filed its return of income on 25.11.2006 declaring total income of Rs.1,01,251/-. The Ld.AO complete the assessment u/s 143(3) on 31.12.2008 determin..

Posted in Others |   2721 hits

Non-disclosure of amount in the balance of loans and advances (sec 154 for making such addition is not postulated)

 12 December 2013

This appeal has been preferred by the Revenue against the order of Commissioner of Income Tax(A)-III, New Delhi dated 1.11.2012 in Appeal No. 619/11-12/C.I.T.(A)-III for AY 2005-06..

Posted in Others |   2692 hits

Nonproduction of receipts of expenditure incurred on maintaining the corporate entity

 09 December 2013

This appeal by the Revenue is directed against the order of the Ld. Commissioner of Income Tax (Appeals)-VII, New Delhi dated 24.6.2011 pertaining to assessment year 2008-09..

Posted in Others |   2016 hits

Quashing order passed by the CIT(A) "without providing the opportunity of being heard" to assessee

 05 December 2013

A brief analysis of the study depicts that though the assessee was proceeded ex-parte, the learned CIT(A) has not decided the matter on merits...

Posted in Others |   2888 hits

Disallowing the deduction claimed as amount paid towards gratuity fund for which approval from the concerned CIT is pending

 27 November 2013

The assessee is in appeal against the order dated 16.09.2009 passed by the ld. CIT(A) in the matter of an assessment made by the AO u/s. 143(3) of the Income Tax Act, 1961, (“the Act”) for the A.Y. 2004-05...

Posted in Others |   3052 hits

Expenses incurred by the assessee to maintain its corporate entity are allowable

 22 November 2013

This appeal by the Revenue is directed against the order of the Ld. Commissioner of Income Tax (Appeals)-VII, New Delhi dated 24.6.2011 pertaining to assessment year 2008-09...

Posted in Others |   2810 hits

Disallowance of Expenditure & Business Expenditure

 21 November 2013

This is assessee’s appeal against CIT(A)’s order dated 2-07- 2012 relating to A.Y. 2008-09. Various grounds are raised, which in effect raise following issues: (i) disallowance of expenditure; and (ii) disallowance of business expenditure. ..

Posted in Others |   2210 hits