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Showing 101 to 120 of 545 Records
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2012 (2) TMI 628
... ... ... ... ..... -controlled incubators . According to the department, the imported incubators are not servo controlled. The respondent submits that the incubators are used for intensive care only and they bona fidely believe that they are eligible for exemption. Further, the term servo denotes automatic start and stop. The imported goods are also automatic incubators . They also could not produce any other evidence at this stage, as the goods were imported more than 20 years ago. 3. In view of the submissions made, we find no reason to in....... + More
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2012 (2) TMI 627
Input Tax Credit - appellant case id that they have not availed credit during the period - Held that: - Considering the fact that the applicant has not availed credit during the impugned period for which they are entitled, the liability of demand would reduce to ₹ 1.42 lakhs, approximately - matter remanded back to the original adjudicating authority to verify how much amount of credit is available and reduce the demand accordingly - appeal allowed by way of remand.
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2012 (2) TMI 626
... ... ... ... ..... and benami applicants. We have considered the rival submissions and are unable to accept the Board s contention on this issue as well. It is not a case where the appellant has not deputed its officials to the RTA. Admittedly, it is the primary responsibility of the RTA to scrutinize these applications and the job of the merchant bankers is to ensure that RTA has performed its duties. In its reply, the appellant has categorically stated that it had deputed experienced officers post closure of the offer to the registered off....... + More
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2012 (2) TMI 625
... ... ... ... ..... or the period from December 2000 to September, 2005 by invoking the extended period of limitation. Challenging the order of CESTAT, the present appeal is filed. 7. As noted above, in the present case, during the relevant period there was decision of the CESTAT in the case of IFGL Refractories Limited in favour of the assessee. Moreover, the fact that the assessee had sold the goods with a view to acquire advance licences was a factor known to the Revenue right from inception. In fact, the duty demand by invoking the larger....... + More
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2012 (2) TMI 624
Application for ad interim relief - arbitration petition u/s 9 - direction to furnish solvent security in the form of a bank guarantee of a nationalised bank - provisions of Order 38, Rule 5 CPC - In Present case, Petitioner and the First Respondent enetered into an agreement, later the First Respondent in turn entered into an agreement with the Second Respondent. The agreement stated that the First Respondent had been granted certain exclusive commercial and media rights by the Petitioner for all international cricket matches organised by the....... + More
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2012 (2) TMI 623
Revisional jurisdiction under Section 397 Cr.P.C. was available to the respondent No. 2 in challenging the order of the Magistrate directing issuance of summons. The first question is answered against the appellant accordingly. Additional Sessions Judge and the High Court were not right in holding that for prosecuting the respondent No. 2 for the offences for which the summoning order has been issued, the sanction of the competent authority under Section 197 Cr.P.C. is required. The view of the Additional Sessions Judge and the High Court is b....... + More
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2012 (2) TMI 622
... ... ... ... ..... the decision of Hon ble Delhi Jurisdictional High court the AO has to ascertain the correctness of the claim of the assessee and if he is not satisfied with the claim with regard to the expenditure, in such a case the AO has to reject the claim of the assessee by stating reasons for doing so. Having done so, the AO shall determine the amount of expenditure incurred in relation to income which does not form part of the total income under this Act and the AO is required to do so, on the basis of a reasonable and acceptable m....... + More
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2012 (2) TMI 621
Maintainability of the writ petition on the ground of Territorial Jurisdiction - Employees Provident Fund Appellate Tribunal - According to the appellant, his establishment did not get any response from the market nor could get any business, he relieved all the employees from their services and closed down the establishment. However, unaware of the fact that with the closure of establishment, he was also required to surrender the Provident Fund code, he did not take any step in this direction. he received summons from the Office of the Regiona....... + More
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2012 (2) TMI 620
Refusing registration to the respondent/institution u/s 12AA after recording finding of surplus generation - Held that:- All the three activities, namely running of swimming pool, production centre, printing press and agricultural income and found that those activities could not have been considered as independent activities carried out by the assessee with profit motive. The dominant object of the assessee of advancing the cause of education has been accepted. Search and seizure operation u/s 132 on 2.8.2007. This portion has not been looked ....... + More
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2012 (2) TMI 619
... ... ... ... ..... Adv., for M/s. Gagrat Co.,Advs. For the Respondent Mr. Gaurab Banerji,ASG., Mr. S.A. Haseeb,Adv., Ms. A. Subhashini,Adv. Ms. Anil Katiyar,Adv. O R D E R Leave granted. Pending appeal, there shall be stay as far as penalty on interest is concerned.
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2012 (2) TMI 618
... ... ... ... ..... notwithstanding the non-acceptance of the decision of the Honourable Chennai High Court, the CIT has no jurisdiction to act under Section 263 under the garb of the AO having taken a permissible view even though the facts indicate that the AO was in no position to take any view on the basis of the material on record ? (VII) Whether in the facts and circumstances of the case, the learned Appellate Tribunal is justified in not appreciating that when the assessment is done without proper inquiry and application of mind by the ....... + More
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2012 (2) TMI 617
... ... ... ... ..... eligible to tax. 3. On the facts and in the circumstances of the case and in law, the learned CIT(A) erred in deleting a sum of 3,33,662, being TDR premium received from the members relying on the decision of Mumbai High Court in the case of Sind CHS (2009) 26 DTR 149. 2. After hearing rival contentions, we find that the undisputed facts are that the assessee is a plot society and not a flat society. Thus, notification dated 9th August 2001, issued by Govt. of Maharashtra, does not apply to the facts of the case. The first....... + More
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2012 (2) TMI 616
Whether the Tribunal was justified in ignoring the decision of the apex Court in the case of Shambu Investments (P) Ltd Vs. CIT [2003 (1) TMI 99 - SUPREME COURT] wherein it was held that where the main intention is letting out property or any portion thereof the same may be considered as rental income or income from house property. Held that:- Both in the case of earlier Assessment Years as well as in subsequent Assessment Years i.e. AY 1998-99 and 2000-01, such income had been assessed as business income. Counsel appearing on behalf of the as....... + More
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2012 (2) TMI 615
... ... ... ... ..... d also that revenue is earned with the help of this crane for the next 8 to 10 years. 5. HDPEL would follow the laid down procedure i.e. open bids for the procurement of the Machinery, and furnish the Utilization Certificate within prescribed time limit as per rules from the release of funds. 6. This issues with the concurrence of the Finance Wing vide their U.O.No. 670-TF.I/2007 dated 28.02.2007. Sd/- (DEBASIS PAL) Under Secretary to the Government of India 5. On perusal of the above, we are of the considered view that th....... + More
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2012 (2) TMI 614
... ... ... ... ..... His next plea is that now that divergent views have been expressed by coordinate benches, the matter should at least be referred to a Special Bench. We see no legally sustainable merits in this plea either. Once we hold that Lovelesh Jain decision (supra) by the coordinate bench cannot be accorded binding precedence value, the binding judicial precedents that we have before us are in favour of the assessee. In any case, we are in considered agreement with the reasoning adopted by, and conclusions arrived in, these binding ....... + More
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2012 (2) TMI 613
... ... ... ... ..... ase, though certain estimation has to be made to disallow the purchases declared by the assessee, the Learned Counsel for the assessee had referred to the decision of ITAT Ahmedabad D Bench in ITA No.137/Ahd/2009 dated 26-07-2011, where on similar facts ITAT had disallowed 12.5 of the purchases. No other citation or comparable case has been brought on record by the Ld.SR-DR. Therefore, in the circumstance and facts of the case we direct the Assessing Officer to restrict the disallowance at 12.5 purchased declared from SRP ....... + More
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2012 (2) TMI 612
... ... ... ... ..... the goods were allowed for export but redemption fine of ₹ 60,00,000/- was imposed on the appellant and a penalty of ₹ 20,00,000/- on the CHA. Therefore, the appellants are before us. 4. We have heard the contention made by both the sides and perused the records. 5. It is observed by the adjudicating authority that mis-declaration of goods in the shipping bills was not a willful attempt by the appellants, although there is negligence on the part of the appellants/exporter, therefore, no fine and penalty are imp....... + More
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2012 (2) TMI 611
... ... ... ... ..... lent on the date of such recommendation. The question as to whether the petitioner has got any vested right on the basis of pendency of the application is a matter which need be considered by the authorities concerned, at the first instance. I am not proposing to enter upon any adjudication on the question of eligibility of the petitioner in this regard, because the authority concerned has not taken any decision on the basis of the available records. I am of the view that a fresh decision disposing the application need be ....... + More
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2012 (2) TMI 610
... ... ... ... ..... nce such approval is deleted, the approval of the Central government is not necessary. The said provision was only procedural in nature. Even till today, the CBDT has not rejected the application of the assessee. Having regard to the object with which such provision is enacted and subsequently whereby this technically of obtaining prior approval is given a go by, it was of the view that the assessee is entitled to the benefit of deduction. If we take the substance of the said section and not format in which it is shown, th....... + More
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2012 (2) TMI 609
... ... ... ... ..... itution of India to record findings on the compliance of the directions issued by this Court, as well as the question, whether the non-relied upon documents were actually supplied, failing which the opportunity of cross-examination was a futility, can also be looked into by the Appellate Authority. These are questions of facts, which will require findings, after scrutiny of records, to examine the plea of denial of opportunity given to the petitioner in the proceedings of adjudication. 13. The writ petition is dismissed re....... + More
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