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Judgments and Orders

As per sec 14 and 15 the arbitration clause if clearly spelt out the prohibition the cannot intervene and pressurise the parties to settle with substitute arbitrator

 25 June 2012

The petitioner submits that both Shri N.A. Palkhivala and Shri D.S. Seth are no more and therefore the arbitration clause in the agreement does not survive. It was pointed out that Shri N.A. Palkhivala was named in the agreement since he was the Chai..

Posted in Corporate Law |   2949 hits

Application under sec 12AA/80G cannot be rejected without giving opportunity for submission of all documents

 25 June 2012

Brief facts of the case explained below: The assessee moved applications u/s 12A(1)(aa) and U/s 80G(5)(vi) of the Income Tax Act. The applications were accompanied by a copy of trust deed dated 27-12-2010 to the CIT, Rohtak on 9-3-2011. CIT calle..

Posted in Taxation |   3146 hits

Deduction under sec 36 (1) (iii) of the Act is allowed only after proving that the borrowed fund is utilized for business purpose

 25 June 2012

From the observation of the Judgment we can find the fact that the interest paid by the assessee on borrowed fund can claim as deduction only if the fund is utilized for business purpose...

Posted in Taxation |   2925 hits

All public authority is mandated under Section 4 (1) (b) (xii) of the RTI Act to publish the details of the beneficiaries of any subsidy given by the government

 23 June 2012

The submission of learned ASG Sh. A.S. Chandhiok, firstly, is that a perusal of the impugned order shows that the CIC has equated donations made by the President with subsidy, which is not the case. It is also submitted that the learned CIC has not d..

Posted in Civil Law 1 comments |   1606 hits

AO can made addition under sec 14A read with rule 8D the dividend received from investment out of surplus fund

 23 June 2012

This appeal of the assessee is directed against the order passed by the CIT (A)- IV, New Delhi, dated 17.02.2012, relevant to assessment year 2008-09, whereby confirmation of addition of Rs.2,56,019/- on account of estimated expenditure u/s 14A of th..

Posted in Taxation |   1526 hits

If proper source of capita and share premium is not shown than addition can be made under sec 68 of IT Act

 23 June 2012

On the facts and in the circumstances of the case and in law, the CIT(A) has erred in deleting the addition of Rs.9,96,50,000/- made by the Assessing Officer u/s 68 of the I.T. Act, 1961 being the unexplained share capital and share premium of Rs.1,0..

Posted in Taxation |   1483 hits

Appeal dismissed under Rule 19 can be recalled by the appellant after showing proper reason of non proseqution

 22 June 2012

From the judgment it is cleared that the assessee is not interested in the prosecution of this appeal. Considering the facts and keeping in view the provisions of Rule 19 of the Income Tax Appellate Tribunal Rules, as were considered in the cases of ..

Posted in Taxation |   1160 hits

Non appearance for proseqution after issuing notice under sec 143 & 142 than the assessement is to be done as per sec 144

 22 June 2012

None appeared on behalf of the assessee when the appeal was called for hearing nor any request for adjournment was filed. Even before the Assessing Officer[AO in short], none appeared while last notice dated 9.12.2010 issued u/s 143(2) & 142(1) of th..

Posted in Taxation |   1248 hits

Whether addition can be made on items in respect of which no incriminating material is found in search in assessement under sec 153A

 21 June 2012

Opinion amongst different benches of the Tribunal in respect of scope of assessment framed u/s 153A, i.e. whether addition can be made on items in respect of which no incriminating material is found in search. The decisions in favour and against of t..

Posted in Taxation |   1349 hits

Provisions of section 40(a) are not applicable in case of charitable trust or institution where income and expenditure is computed in terms of section 11

 21 June 2012

The relevant facts for adjudication of ground No.1 are that the assessee is a charitable institution engaged in carrying out religious and charitable activities within the ambit of section 2(15) of the Income Tax Act. These charitable activities have..

Posted in Taxation |   1648 hits

conservation and protection of the Island’s unique environment : Section 3 of the Environment (Protection) Act, 1986

 21 June 2012

Facts: These appeals have been filed by the Union Territory of Lakshadweep against an order dated 16th January, 2012 passed by the High Court of Kerala at Ernakulam whereby the High Court has directed the appellants to process the applications mad..

Posted in Civil Law |   1241 hits

When the agreement is clear that the expenses included cannot be recovered from the charterer as lease rentals so there is no applicability of sec 92CA(3)

 20 June 2012

The brief facts in apropos these grounds are that the assessee, Boskalis Dredging India P.Ltd, is a company incorporated in India on 5th January,1996. It is engaged in the business of undertaking inter alia capital and maintenance dredging projects a..

Posted in Taxation |   1356 hits

Whether premium on sale of export quota is covered by Section 28(iiia), (iiic) and accordingly, has to be included while computing the deduction uneder sec 80HHC(3)

 20 June 2012

Section 80HHC- Deduction in respect of profits retained for export business.— xxx (3) For the purposes of sub-section (1),-- (a) where the export out of India is of goods or merchandise manufactured or processed by the assessee, the profits deriv..

Posted in Taxation |   1293 hits

Quantum of sentence - " Rarest of rare " case / offences under Section 302, 316 read with Section 34 ( IPC )

 20 June 2012

Facts : Verma (PW-1) along with SubInspector Chander Pal Singh (PW-2), were on patrolling duty; They stated to have seen through the focus light of the police jeep two young men trying to pull out a girl in an injured condition by opening the rea..

Posted in Criminal Law |   3338 hits

Scheme of Amalgamation should fulfilled the condition of sec 391 to 394 of the Companies Act 1956

 19 June 2012

Company Petition No.95 of 2004 was a petition under Sections 391 and 394 of the Companies Act, 1956 (hereinafter referred to as „the Act‟) vide which sanction of this Court to the scheme of Amalgamation of Indrama Investment Private Limited (transfer..

Posted in Corporate Law |   4904 hits

Liability to pay tax, which is founded on the charging provisions of the statute, is not to be nullified on unjustified pleas taken by the assessee

 19 June 2012

The observation of the case is giving rise to the aforesaid substantial question of law are these. The assessee is a partnership firm consisting of two partners namely Manoj Gupta and his wife Shallu Gupta. It filed a return of income on 02.12.2003 ..

Posted in Taxation |   1173 hits

AO cannot make addition after maintaining complete books of account with the Tax Audit report only on the basis of entries made on 31st March

 19 June 2012

The brief facts of this issue are that while doing the scrutiny assessment Assessing Officer has added an amount of Rs.23,49,260/- by observing that: “During the course of survey, a compact disc containing books of a/cs. were impounded. The print ..

Posted in Taxation |   1160 hits

When information is such which on a purposive construction of sec 8 is exempt from disclosure

 18 June 2012

This intra court appeal impugns the order dated 22nd December, 2010 of the learned Single Judge dismissing in limine WP(C) No. 8558/2010 preferred by the appellant. The said writ petition was preferred impugning the decision dated 12th November, 2010..

Posted in Civil Law |   1544 hits

As per the SC decision onus of proving what was apparent is not real is on the party who claim it to be so

 18 June 2012

From the observation we came to know that only claiming fact is not enough to appreciate the appropriate authority to accept the contention and decide in favor of the appellant, the appellant must give proper supporting evidence. ..

Posted in Taxation |   1227 hits

Rental Income from letting out of terrace is to considered as income from house property subject to deduction under sec 24

 18 June 2012

The brief facts of the above issue are that it was found by the Assessing Officer that the assessee has allowed M/s. Hutchison Max Telecom Ltd. to erect the tower on their terrace in consideration of an amount of ` 5,93,700 and claimed as income from..

Posted in Taxation 1 comments |   4547 hits







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