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2009 (12) TMI 1063
... ... ... ... ..... hallenge by reading words in it which are not to be found therein. 11. In our opinion, the High Court erred in not considering the application for anticipatory bail in accordance with law. The defence put forward by the appellant cannot be obliterated at this stage itself. We are also of the opinion, that the submission of the learned Counsel for the appellant that the dispute herein is purely of a civil nature cannot be brushed aside at this stage. We, therefore, grant anticipatory bail to the appellant in the case pendin....... + More
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2009 (12) TMI 1062
... ... ... ... ..... time of hearing, the Learned Counsel of the assessee has submitted that the Assessing Officer while giving effect to the order of the ITAT, the Assessing Officer vide his assessment order dated 31.01.2008, allowed the interest claim of Rs 1,39,33,952/- in favour of the assessee. The Learned CIT (A) deleted the penalty on the ground that the Assessing Officer has already allowed the claim of the assessee by order dated 31.01.2008. 4. We have heard both the sides, perused the records and gone through the orders of the author....... + More
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2009 (12) TMI 1061
... ... ... ... ..... ncial Corporation v. Gem Cap (India) Pvt. Ltd. (supra) and Haryana Financial Corporation v. Jagdamba Oil Mills (supra). 18. The direction given by the High Court for review of pending cases in the light of judgment of this Court in Central Bank of India v. Ravindra (supra)is also unsustainable because, as mentioned above, the High Court was not called upon to examine the legality or otherwise of the terms of agreement entered into between the Appellant-corporation and Respondent under which the latter was obliged to pay in....... + More
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2009 (12) TMI 1060
... ... ... ... ..... nd in the circumstances of the case, this Court is of the view that the High Court has exercised revisional jurisdiction with material illegality and irregularity resulting into miscarriage of justice to the appellants and, therefore, the appeal deserves to be allowed. 12. For the reasons stated in the judgment, the appeal succeeds. The judgment dated May 25, 2007, rendered by the learned Single Judge of the High Court of Judicature at Allahabad in Criminal Revision No. 5819 of 2006 remanding the case to the Court of learn....... + More
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2009 (12) TMI 1059
... ... ... ... ..... e Plaintiff apply for withdrawal of the Suits. In the light of this statement, the Suits are allowed to be withdrawn and dismissed as such. No order as to costs. Refund of Court fees as per Rules. 2. Notices of Motion in both Suits do not survive and stand disposed off accordingly. Ad-interim/interim orders stands vacated forthwith.
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2009 (12) TMI 1058
... ... ... ... ..... in the light of the questions which were before this Court. A decision of this Court takes its colour from the questions involved in the case in which it is rendered and while applying the decision to a latter case, the Courts must carefully try to ascertain the true principle laid down by the decision of this Court and not to pick out words or sentences from the judgment, divorced from the context of the questions under consideration by this Court, to support their reasonings. In H.H. Maharajadhiraja Madhav Rao Jiwaji Rao....... + More
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2009 (12) TMI 1057
... ... ... ... ..... , and ended sometime in 2002. Even if the petitioner were to be given benefit of doubt, for some reason, as the suits (one of which was filed by him) were pending till 30-4-2004, he ought to have approached this court, seeking the reliefs he now claims, within three years from that date. He has, however, filed the present petition on 3rd March, 2009, clearly beyond the period of limitation. 16. This Court is also mindful of the fact that the executor nominated in the Will, propounded by the present petitioner had approache....... + More
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2009 (12) TMI 1056
... ... ... ... ..... ty shares that the provisions of the takeover code would get attracted. Warrants by themselves do not carry any voting rights. The acquirer will acquire voting rights only when the warrants are converted into equity shares and till such time such conversion takes place, the takeover code does not get triggered. In this background, we find that the request of the appellant seeking exemption from the provisions of the takeover code is premature. Accordingly, the appeal is disposed of as such. We, however, make it clear that ....... + More
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2009 (12) TMI 1055
... ... ... ... ..... entitled to quash a proceeding if it comes to the conclusion that allowing the proceeding to continue would be abuse of process of the Court or that the ends of justice requires that the proceeding ought to be quashed. 19. Thus in my considered opinion, whenever blank cheque or post dated cheque is issued a trust is reposed that the cheque will be filed in or used as per the understanding or agreement between parties. If there is prima facie reason to believe that said trust is not honoured then continuation of prosecution....... + More
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2009 (12) TMI 1054
... ... ... ... ..... Central Excise, Indore. In that case, the Division Bench had dismissed the writ petition filed by the petitioner challenging notice issued by the Excise Officer. Aforesaid judgment of the Division Bench is quite distinguishable on facts. In the present case, the notices are not challenged by the petitioners, the petitioners in the present case have challenged initiation of proceeding against them on the ground the t the same is without jurisdiction. The Apex Court in the case of Calcutta Discount Company Limited vs. Income....... + More
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2009 (12) TMI 1053
... ... ... ... ..... ank of India v. Ranjan Chemicals Ltd 134 Comp. Cases 2 and Punjab Urban Planning and Development Authority v. Shiv Saraswati Iron and Steel Rerolling Mills 1998 (4) SCC 539. Therefore, the interim award cannot even be termed as one passed blindly on the strength of an admission made by the Petitioner. It is neither perverse nor arbitrary nor violative of any law. Hence, the same does not call for any interference. 39. In view of the above, the main original petition Tr.O.P. No. 628 of 2008 is dismissed. Since the Petitione....... + More
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2009 (12) TMI 1052
... ... ... ... ..... o had given statement before the authorities. 13. In the facts and circumstances of the case, we find that the Revenue has not succeeded in demolishing the defense of consistency argued by the assessee-company. The onerous responsibility cast upon the assessing authority to discredit the agreement of the sole selling agents has not been discharged. The observations of the assessing officer alleging the violation of terms and conditions of the agency agreement are not convincing. 14. In the light of the above, we find that ....... + More
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2009 (12) TMI 1051
... ... ... ... ..... essee was entitled to a deduction equal to 30% of additional wages paid to regular workers employed by the assessee in the previous year. The deduction to the extent of Rs.18,09,043/- is 30% of additional wages paid in Assessment Year 2004-05, remaining Rs.14,37,575/- is 30% of the additional wages paid for the earlier two assessment years. But the Commissioner of Income-tax held the last two items are not allowable. Aggrieved by the above order, assessee is in appeal before the Tribunal. 4. When the matter was taken up fo....... + More
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2009 (12) TMI 1050
Claim for Restoration of possession - issuance of certificate - predecessor-in-interest of the appellants claimed to be protected tenants and sought ownership certificates to become full owners of the suit land - Orders passed without following the procedure prescribed under the Andhra Pradesh (Telangana Area) Tenancy and Agricultural Lands Act, 1950 ( The Act 1950 ) - Validity of the tenancy certificate u/s 38-E (2) - HELD THAT:- This judgment and order of the High Court also attained finality as it was not challenged by the respondents any f....... + More
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2009 (12) TMI 1049
... ... ... ... ..... ee should obtain loans from private parties always at the bank rate. These are matters of prevailing money market conditions and creditworthiness of the parties involved. In the present case, the interest has not been paid to the parties covered by Section 40A(2)(b). The payees are outsiders. In these circumstances, the differential rate of 2% does not make out a case against the assessee. Accordingly, we delete the disallowance at Rs.1,06,971/-. 9. The sixth and last ground raised by the assessee is that the CIT(A) has er....... + More
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2009 (12) TMI 1048
... ...
... ... ..... for the appellant. Delay condoned. The civil appeals are dismissed.
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2009 (12) TMI 1047
... ... ... ... ..... ltural income and expenses. The allegation of ld. CIT that the A.O. has not examined the agricultural income and expenses at the time of framing the assessment under section 143(3) is not correct. The A.O. in the assessment framed under section 143(3) has accepted the agricultural expenses incurred. It is well settled law that no revision under section 263 can be done on change of opinion as held by the Hon'ble Bombay High Court in the case of CIT -vs.- Gabriel India Ltd. reported in 203 ITR 108 and by the Hon'ble ....... + More
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2009 (12) TMI 1046
... ... ... ... ..... of by directing the Commissioner of Customs (Airport and Administration) to complete the proceedings and pass an adjudication order within six months from the date of communication of this order. The petitioner shall not seek any adjournment of hearing. The stay of the suspension order shall continue till an adjudication order is passed by the Commissioner of Customs (Airport and Administration). Urgent certified copy of this order, if applied for, be supplied to the parties subject to compliance with all requisite formalities.
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2009 (12) TMI 1045
... ... ... ... ..... e statutory charge created under Section 11- AAAA of the said Act, the sales tax dues shall have precedence over the mortgage created in favour of the Bank. To the same effect is another decision of this Court in State of M.P. Anr. vs. State Bank of Indore Ors., (2002) 10 SCC 441, wherein it was held that a charge created by Section 33C of the M.P. General Sales-Tax Act, 1958 in favour of the State in respect of sales-tax dues shall prevail over the charge created by the dealer in favour of the Bank in respect of the loan........ + More
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2009 (12) TMI 1044
... ... ... ... ..... o; Appeal would be heard on the aforesaid point and accordingly the appeal is admitted. Another point has been suggested with regard to the delay in depositing the tax amount and this delay is about one month. We think this point does not involve any question of law. It is a question of fact so far as late deposit is concerned , power is provided in the Act itself. We do not wish to formulate any point on this issue. Let usual notice be issued upon the respondent. Paper book in requisite numbers be prepared and filed one w....... + More