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Since the Director of the appellant-company was actively involved in the day to day activity of the appellant-company penalty on him under Rule 26 has been correctly imposed. - Tri In absence of direct or indirect involvement of the Managing Director in the clandestine removal of the goods no personal penalty under Rule 26 is imposable on him. - Tri Cenvat Credit denied - galvanization does not amount to the manufacture - The duty paid on the G.P. Coils etc., is more than Cenvat Credit taken and needs to be adjusted against the demand of the Cenvat Credit. - Tri Extended period of limitation - in cases of intention to evade duty relevant date for computation of extended period for show cause is the date of knowledge - Tri Rejection of transaction value and enhancement of assessable value has to be on the basis of some evidences on record. - NIDB data cannot be made the basis for enhancement of value - Tri MAT - Agriculture income - sale of tea plant - Since these two items are of agricultural income it should be allowed as deduction while computing income u/s. 115JB being book profit - Tri Re-assessment - No addition is made rather from the records the information available was used for making disallowance - the order of reopening is quashed - Tri Performance incentive paid to employees - tds - the estimated TDS deducted in a bona fide manner as per the settled legal position cannot be faulted with. - Tri Disallowance of expenditure in computing the income under the head capital gains - cost of making the title complete and perfect can be treated as the 'cost of acquisition' falling u/s. 48. - Tri True, genuine and bona fide transactions, even if made below par, the fair market valuation would not have any tax implication, being only undertaken in the normal course of business and in its interest.l - Tri Guilty of willful omission - in the normal course, there would be no reason for the selling dealer to doubt the declaration made by the purchasing dealer, in the Form ST-1 - HC Expression tax due as appearing in section 27(1) has to be read in conjunction with provisions of section 21(3) and interest u/s 27(1) is payable only on the tax due according to the return filed - HC Trade tax on mushroom - mushroom has been excluded from category of fresh fruits and green vegetables. - not exempted - HC The CLB has, under the garb of doing substantial justice, granted extreme directions under Section 402, enabling the Respondents to achieve indirectly a virtual veto right on all issues and the ability to paralyze the functioning of the Company - HC Amalgamation - u/s 391 the C. Govt. & IT Authority do not have any powers to intervene or to be heard on any scheme which is filed seeking sanction of the Court - HC Payment of commission to relatives for the services rendered by them for promoting sales. - genuineness of commission established - deduction allowed - HC Rejection of the application for registration – Manufacture of cigarettes - No condition regarding issue of licence under IRDA Act by Ministry of Commerce and Industry, before the issue of Central excise registration certificate - refusal of registration is incorrect - Tri Penalty u/s 78 - Changeability of service tax on rent income classifiable under the category of Renting of Immovable Property. - penalty imposed set aside. - Tri    Left Stop Right
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Showing 1 to 15 of 7826 Records

    2013 (5) TMI 548 - BOMBAY HIGH COURT

    Shah Pulp & Paper Mills Ltd. And Others Versus Pravinchandra Hirji Shah And Others

    Ambit and scope of the powers conferred on the Company Law Board - Company was directed to amend its Memorandum and Articles of Association so as to give Respondents proportional representation on the Board of Directors of the Company - Held that:- T ......

    2013 (5) TMI 547 - BOMBAY HIGH COURT

    Commissioner of Income-tax Versus Sesa Goa Ltd.

    Maintainability of Petition - Amalgamation - scheme sanctioned by the Court - intervention by the Income Tax authorities on the ground that it would entail huge losses to the revenue – Demand notice was issued u/s 166 of the IT Act. Held ......

    2013 (5) TMI 518 - CALCUTTA HIGH COURT

    Birla Corporation Limited Versus Birla Education Trust & Ors. And Harshvardhan Lodha & Ors.

    Mismanagement of the affairs of company - allegations of conducting affairs of the company in a manner prejudicial to public interest, causing oppression to the members of the company - legality of the existing financial transactions of the company, ......

    2013 (5) TMI 488 - CALCUTTA HIGH COURT

    SST Media Private Limited (In Liquidation) Versus The Official Liquidator, High Court Calcutta

    Winding up petition - Default in payment of licence fees - Arrears accumulated - Kolkata T.V. Bengali news television channel run by a company, R.P. Techvision (I) Pvt. Ltd operates from an area of about 10,000 sq. ft. in a premises numbered as 119 ......

    2013 (5) TMI 487 - DELHI HIGH COURT

    HCL Infosystems Ltd. Versus Governmet of NCT Delhi

    Arbitration procedures - right to appointment of Arbitrator - Held that:- No concrete prima-facie evidence to show that after the receipt of notice from the petitioner in order to invoke the arbitration, there were any serious discussions and suggest ......

    2013 (5) TMI 465 - DELHI HIGH COURT

    Ram Kohli Versus Indrama Investment Pvt Ltd., Select Holiday Resorts Ltd.

    Validity of the scheme of amalgamation sanctioned - Held that:- Scheme was sanctioned in the year 2004 and has in fact being implemented in 2004 itself and majority of the shareholders whose shares were acquired under the scheme have already accepted ......

    2013 (5) TMI 435 - MUMBAI TRIBUNAL

    Mrs. Ramkishori Gupta Versus Securities and Exchange Board of India

    Misleading advertisements as regards issue of buy-back as well as bonus shares - Appellants contested that both the schemes of buy-back and bonus shares did not materialize at all & in the process they suffered huge losses - prayer for direction to ......

    2013 (5) TMI 434 - PATNA HIGH COURT

    In The Matter of M/S Ganga Devi Sugar Mills Ltd. (In Voluntary Liquidation)

    Voluntary liquidation - Held that:- From the statement of accounts it appears that there has been no transaction in the accounts of the Company, except for withdrawal of an amount of Rs.610/- from the Bank. An amount of Rs.638/- was credited in the a ......

    2013 (5) TMI 422 - MADRAS HIGH COURT

    P. Mohanasundaram Versus President, Institute of Chartered Accountants of India

    Removal of name from membership register by ICAI - Bigamy marriage - Appellant is a qualified Chartered Accountant who filled a divorce case against his wife concluding to a divorce decree confirmed by Madras High Court where complaint given by the a ......

    2013 (5) TMI 402 - SUPREME COURT

    Antrix Corp. Ltd. Versus Devas Multimedia P. Ltd.

    Arbitration application – u/s 11(4) read with Section 11(10) of the Arbitration and Conciliation Act, 1996 – What is the scope and ambit of the powers of the Chief Justice u/s 11(6) of the said Act? - In the instant case, the Arbitration Agreement pr ......

    2013 (5) TMI 401 - SUPREME COURT

    Schlumberger Asia Services Ltd. Versus Oil & Natural Gas Corporation Ltd.

    Arbitration agreement - whether the petition is liable to be dismissed on the ground of limitation as it raises dead claims? - powers of Chief Justice or the designated Judge to decided the question on limitation - Held that:- A bare perusal of the o ......

    2013 (5) TMI 381 - SUPREME COURT

    M/s Today Homes & Infrastructure Pvt. Ltd. Versus Ludhiana Improvement Trust & Anr.

    Scope of arbitration agreement - whether once the main agreement between the parties was declared void, the entire contents thereof, including any arbitration clause in the main agreement were rendered invalid? - Held that:- The learned designated Ju ......

    2013 (5) TMI 375 - SUPREME COURT

    Indian Oil Corporation Ltd. Versus M/s. SPS Engineering Ltd.

    Arbitration agreement - appellant calculated the actual extra cost incurred in completing the work and the total amount recoverable from the petitioner in terms of the contract - Whether the Chief Justice or his designate can examine the tenability o ......

    2013 (5) TMI 348 - SUPREME COURT

    V. L. S. Finance Ltd. Versus Union of India and others

    Appeal against CLB for assailing compounding of offences – u/s 211(7) of the Companies Act, 1956 - whether the CLB can compound offence punishable with fine or imprisonment or both without permission of the court? Facts of the case Company ......

    2013 (5) TMI 347 - DELHI HIGH COURT

    Real Lifestyle Broadcasting (P.) Ltd. Versus Turner Asia Pacific Ventures Inc.

    Winding up – Prayers made in the present application read as under: (a) Pass necessary orders and directions to ensure that the Scheme is workable u/s 392(1) and 394; Alternatively (b) Declare the Scheme dated 29.03.2011 as sanctioned by Hon'ble Cou ......

   
 
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