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2013 (12) TMI 1666 - COMPETITION APPELLATE TRIBUNAL, NEW DELHI
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... ... ..... sel appearing for the appellants. We record our special appreciation for Ms. Anupam Sanghi appearing for CCI, who by her methodical approach assisted the Tribunal to a great extent. 60. We pass the following order - (1) That the findings of the CCI in respect of the breach of Section 3(3)(d) are confirmed against all the appellants. (2) The penalties ordered by the CCI shall stand stayed till such time that the CCI takes the final decision in the matter after hearing the parties. For this purpose, the matter is remanded to the CCI. 61. While issuing the interim order, we had directed that the order of the CCI would be stayed if the parties deposit 10% of the penalty amount and furnish security for the rest of 90% of the penalty amount, to the satisfaction to the Registrar, Competition Appellate Tribunal. This order shall prevail till the CCI finally decides upon the penalties. All appeals are disposed of in above terms. Pronounced in open Court on 20th day of December, 2013.
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2013 (12) TMI 1665 - ITAT DELHI
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... ... ..... ted 2.05.2011 was received from the partner of the firm Shri Rakesh Chandra Rastogi. After going through the records and considering the reply I hold that the assessee is in default of repaying the amount in cash of ₹ 17,55,000/- from the above two parties in view of the provision of section 269T of the Income Tax Act. Accordingly I imposed a penalty of ₹ 17,55,000/- u/s 271E of the Income Tax Act, 1961 equivalent to the amount repaid in cash to the above parties.” 7. Considering similar arguments and facts, the CIT(A) came to an identical finding in the facts of the case. Since the arguments advanced on behalf of the parties remained the same, accordingly or reasons given in ITA No.-5622/Del/2012, ITA No-5623/Del/2012 is also dismissed as per the pronouncement made in the open Court in the presence of the parties at the time of hearing. In the result, the departmental appeals are dismissed. The order is pronounced in the open court on 6th of December 2013.
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2013 (12) TMI 1664 - KERALA HIGH COURT
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... ... ..... remits an amount to a non resident out of India, he claims deduction or allowances under the Income tax Act for the said sum as an expenditure. The Supreme Court referred to the amendment made to the Finance Act, 2008 with effect from 1st April 2008 and observed that since the provision has been brought into force only from 01/04/2008, it will not apply for the period prior to the same. It is based on the said view that the Tribunal came to a finding that the assessee is not liable to deduct tax with respect to the above transaction. 6. Delhi High Court also in CIT v. EON Technology (P.) Ltd. 2012 343 ITR 366 has taken a similar view. Apparently, the amendments made by Finance Act, 2012 will have no application to the facts of the case as the payment relates to the assessment year 2007-08. No grounds have been raised in the appeal which warrants interference. We do not think that any substantial question of law arises for consideration and accordingly we dismiss the appeal.
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2013 (12) TMI 1663 - CESTAT BANGALORE
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... ... ..... f Cenvat credit, it cannot be said that it is a case of evasion of duty. In the ST3 returns filed by the assessee, it could be determined as to whether the appellant is paying more than 20 or not. Moreover, it has to be taken note that the appellant was paying service tax under the category of storage and warehousing service even though the export cargo was lying with them beyond 7 days. In this regard, the Commissioner himself has taken a view that this was basically a technical error. There is no appeal filed by Revenue against this observation. Therefore, it is to be treated as technical error. In these circumstances, only for utilization of more than 20 of Cenvat credit, nominal penalty would be appropriate in view of the fact that the Commissioner himself accepted it as technical error. Accordingly, the penalty imposed on the appellant is reduced to ₹ 10,000/- (Rupees Ten thousand only). The appeal is decided in above terms. (Pronounced and dictated in open court)
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2013 (12) TMI 1662 - ITAT COCHIN
Disallowance of “Provision for leave encashment” u/s 43B(f) - Held that:- As decided in THE ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE-1 (1) , THRISSUR. VERSUS M/S. KERALA FEEDS LTD., [2013 (9) TMI 1212 - ITAT COCHIN] Department is restrained from recovering penalty and interest which has accrued till date. It is made clear that as far as the outstanding interest demand as of date is concerned, it would be open to the Department to recover that amount in case Civil Appeal of the Department is allowed. We further make it clear that the assessee would, during the pendency of this Civil Appeal, pay tax as if Section 43B(f) is on the Statute Book but at the same time it would be entitled to make a claim in its returns.
We set aside the order of Ld CIT(A) on this issue and restore the same to the file of the assessing officer with the direction to examine this issue afresh in accordance with the decision rendered by Hon’ble Supreme Court in the case of M/s Exide Industries Ltd COMMR. OF INCOME TAX & ORS Versus M/s EXIDE INDUSTRIES LTD. & ANR. - [2009 (5) TMI 894 - SUPREME COURT] - Appeal filed by the assessee is treated as allowed for statistical purposes.
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2013 (12) TMI 1661 - ITAT PUNE
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... ... ..... as followed the order for assessment year 2006-07, the ground raised by the assessee is allowed. 13. So far as ground Nos. 11 & 12 are concerned, we find the same relates to levy of interest u/s. 234B and 234C. Charging of interest under the above provisions are mandatory and consequential. Accordingly the above grounds are dismissed. 14. So far as ground No. 13 is concerned, the Ld. Counsel for the assessee submitted that a direction may be given to the AO to verify the short credit for taxes deducted at source amounting to ₹ 8,00,582/-. The Ld. DR has no objection for the same. We, therefore, restore this ground to the file of the AO with a direction to verify the records and give necessary credit for TDS as per law. 15. Ground No. l4 relates to initiation of penalty u/s.271(1)(c), which in our opinion is pre-mature at this stage. Accordingly, this ground is dismissed. 16. In the result, the appeal filed by the assessee is partly allowed for statistical purposes.
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2013 (12) TMI 1660 - ITAT VISAKHAPATNAM
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... ... ..... ly because the income was determined on estimate basis, by rejecting such books of accounts?” We have gone through the impugned order of the Appellate Tribunal and we do not find any reason to interfere with the same as the Tribunal has decided the matter relying on the decision of this Court in the case of Indwell Constructions Vs. CIT reported in (232 ITR 776)-AP. Accordingly, the appeal is dismissed. No order as to costs. As a sequel, miscellaneous petitions, if any pending, shall stand dismissed.” 7. Respectfully following the same, since the issue is crystallized by the above judgement of the Hon’ble jurisdictional High Court, we delete the addition made by the A.O., and confirmed by the CIT(A). The coordinate bench decision relied on by Ld. DR stands disapproved by the later judgement of High Court. Accordingly, this ground is allowed. 8. In the result, the appeal of the assessee is considered allowed. Pronounced in the open Court on 11th Dec’13
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2013 (12) TMI 1659 - BOMBAY HIGH COURT
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... ... ..... s appointed as a receiver in respect of the equipment described in Ex. F to the petition with direction to the court receiver to appoint respondent as an agent of the Court Receiver on usual terms and conditions, on furnishing security and on payment of royalty. (b) In the event, the respondent refuses to act as an agent of the Court Receiver within two weeks from the date of such offer, Court Receiver shall take forcible possession of the equipments and would submit a report to this court for further action. (c) Till Court Receiver takes possession, there shall be ad-interim injunction in terms of prayer clause (e). (d) Petitioner is directed to approach the office of the court receiver for enforcement of this order within three weeks from today. (e) Respondent is directed to disclose the location of the equipments to the office of Court Receiver as well as to the petitioner within three weeks from today. Petition is disposed of in the aforesaid terms. No order as to costs.
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2013 (12) TMI 1658 - ITAT KOLKATA
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... ... ..... lower authorities has pointed out as to what inaccurate particulars were filed by the assessee with regard to the loss on sale of fixed assets. Obviously loss on sale of fixed assets was mentioned by the assessee itself in its books of accounts. Hon’ble Apex Court in the case of Price Water House Coopers Pvt. Ltd. -vs.- CIT 348 ITR 306 held that even a reputed firm like Prime Waterhouse Coopers Pvt. Ltd. having great expertise could make a silly mistake in computation and if such mistake is bonafide and inadvertent cannot lead to a penalty under section 271(1)(c). This is all the more a good reason for us to reach an opinion that this was not a fit case where we can say that assessee had concealed any inaccurate particulars in respect of its income. In our opinion, levy of penalty under section 271(1)(c) was not warranted. Such penalty stands quashed. 6. In the result, appeal of the assessee is allowed. Order pronounced in the open court on 30th day of December, 2013.
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2013 (12) TMI 1657 - ITAT AHMEDABAD
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... ... ..... he assessee did not claim any expenditure under these heads. The assessee has capitalized for payments on which it required to be deducted TDS, during the pre-commencement period. Therefore, provision of Section 40(a)(ia) is not applicable. Alternatively, it has been argued that the TDS has been deducted which has been paid on 30.05.2005 before the due date of filing of return. Therefore, it is allowable expenditure. 13. We have heard the rival submissions and perused the material on record. Strictly, depreciation cannot be disallowed where TDS on payment of capital item made but not paid in time. In this Section, items of TDS have been identified by the legislature and depreciation is not covered u/s. 40(a)(ia) and also the assessee paid TDS on 30.05.2005 before due date of return filed. Thus, we confirm the order of the CIT(A) and dismiss the appeal of the Revenue. 14. In the result, the Revenue’s appeal is dismissed. This Order pronounced in open Court on 13.12.2013
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2013 (12) TMI 1656 - BOMBAY HIGH COURT
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... ... ..... g to be a 'victim', file an appeal by virtue of the proviso to Section 372 of the Code. Since the complainant already had a right to file an appeal, as contemplated under Section 378(4) of the Code, such a complainant could not have filed an appeal claiming to be a 'victim'. Consequently, the appeal filed by him before the Court of Sessions was not at all maintainable. The proceedings before the Court of Sessions were a nullity. The trial and the order of allowing the appeal is to be treated as 'non-est'. 4. Consequently, the Revision Application succeeds. The order dated 16-4-2013, passed by the Additional Sessions Judge, Jalgaon, in Criminal Appeal No. 119 of 2010, is quashed and set aside. It is clarified that, this shall not prevent the original complainant from filing an appeal in accordance with the provisions of Section 378(4) of the Code, challenging the order of acquittal passed by the Magistrate. Rule is made absolute in the aforesaid terms.
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2013 (12) TMI 1655 - ITAT KOLKATA
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... ... ..... Section 9 of the Act, the deductee should have rendered managerial , technical or consultancy services. In this case, we find that there is no such finding of the Assessing Officer. The deductee has only telecasted the programmes produced by the assessee. In the case law referred to by the ld. CIT(Appeals) decision In the case of DCIT -vs. - NNM Securities Limited, ITAT held that if the assessee is using any facility of any one the same is not technical services. Hon’ble Punjab & Haryana High Court in the case of Kurukshetra Darpan (P) Ltd. -vs.- CIT 217 CTR 326 has held that telecasting on the programme was covered under sect ion 194C of the Act. 9. In the background of above discussion and following the precedent as above, we do not find any reason to interfere with the order of ld. CIT(Appeals). Accordingly we uphold the same. 10. In the result , both the appeals filed by Revenue stand dismissed. Order pronounced in the open court on 24th day of December, 2013.
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2013 (12) TMI 1654 - COMPANY LAW BOARD NEW DELHI BENCH NEW DELHI
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... ... ..... ed any information, therefore this clause is not applicable to the petitioners to invoke jurisdiction under the provision, therefore these petitioners are not competent to say that CLB is under obligation to give an opinion as laid under this section, CLB is bound to invoke the provision only when the issue is falling in one or other of these three clauses of this section. This Bench has already disposed of some applications he filed, still there are 15 applications pending before this Bench. On seeing the averments in the company petition and on seeing the deletion of the respondents at the insistence of the petitioners and on seeing the locus of the petitioners present before this Bench, I am of the view this petition is misconceived, therefore, this petition is dismissed closing all the applications pending before this Bench. When this Bench has concluded passing this order, the petitioner, out of frustration, said no cost has been imposed along with dismissal of this CP.
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2013 (12) TMI 1653 - DELHI HIGH COURT
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... ... ..... that the restructuring proposal has been terminated or dropped. If the proposals are still under consideration and for some reason or other have merely been deferred to a future date beyond September, 2013 and are still alive, an immediate advertisement of the admission of the petition would cause damage to the prospects of the company vis-a-vis the restructuring package. On the facts of the present case and by virtue of the powers vested in me under Rule 9 of the Company Court Rules, 1959, I am of the view that it would be appropriate to advertise the admission of the winding up petition in the Delhi Gazette and the newspapers mentioned above on 14th February, 2014, making it clear in the advertisement that a provisional liquidator is yet to be appointed. 23. I have consciously deferred the appointment of a provisional liquidator. This will be taken up for consideration, if necessary and if the situation so demands, on the next date of hearing. 24. List on 5th March, 2014.
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2013 (12) TMI 1652 - SUPREME COURT
Suspension of mining license - Seeking permission to carry quarrying operation ispite the allegation of unauthorized quarrying on Govt Land - Quarrying operations not carried out as per the mining plan - Encroachment upon the adjoining roads, tanks, channels and water bodies - Illicitly quarried granites in the adjacent non-leasehold areas also - Special Leave Petitions filed stands dismissed - HELD THAT - Court found it difficult to accede especially after report of the District Collector and Deputy Director of Geology and Mining as several criminal cases are pending against for carrying on illegal quarrying operations in the government land.
Decision on this case CHAIRMAN, ALL INDIA RAILWAY REC. BOARD & ANR VERSUS K. SHYAM KUMAR & ORS [2010 (5) TMI 861 - SUPREME COURT] was followed.
The Court opined that since several writ petitions are pending for consideration before the High Court, so the Court did not deem fit to pronounce any judgement at this stage upon the various contentions raised by learned senior counsel on either side on merits of the case, especially w.r.t. the issuance of the suspension orders and the show cause notices. It was also noticed that the Division Bench of the High Court has issued some equitable directions taking into consideration the interest of the workers and also for honouring some statutory obligations of the petitioner firm. We, therefore, find no reason to interfere with the impugned judgment and the special leave petitions filed against those orders stand dismissed.
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2013 (12) TMI 1651 - DELHI HIGH COURT
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... ... ..... s. The allegations in the complaint will have to be accepted on the face of it and the truth or falsity cannot be entered into by the Court at this stage….” 18. Substantially similar view was taken in MMTC Ltd & Anr. vs. MEDCHL Chemicals and Pharma(P) Ltd & Anr, (2002)1 SCC 234 - “13. It is settled law that at this stage the Court is not justified in embarking upon an enquiry as to the reliability or genuineness or otherwise of the allegations made in the complaint. The inherent powers do not confer an arbitrary jurisdiction on the court to act according to its whim or caprice. At this stage the court could not have gone into .merits and or come to conclusion that there was no existing debt or liability.” 19. Consequently the petitions and the pending applications, if any, are dismissed. Needless to say, the Trial Court after recording evidence would examine whether the petitioners are liable for the offence punishable u/s 138 of the N.I.Act.
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2013 (12) TMI 1650 - SUPREME COURT
CBI Non-partisan investigating agency - Central vigilance commission (CVC) - Prevention of Corruption Act (“PC Act” for short) -The fact that the investigation is monitored by the constitutional court is itself an assurance that investigation/inquiry by the CBI is not actuated with ulterior motive to harass any public servant and the investigating agency performs its duties and discharges its responsibility of fair and impartial investigation uninfluenced by extraneous considerations.
whether the approval of the Central Government is necessary under Section 6A of the Delhi Special Police Establishment Act, 1946 (“DSPE Act” for short) in a matter where the inquiry/investigation into the crime under the PC Act is being monitored by the Court.
HELD THAT:- The approval of the Central Government is not necessary under Section 6A of the DSPE Act in a matter where inquiry/investigation into the crime under the PC Act is being monitored by this Court. This position holds good in cases which are directed by the Court to be registered and the inquiry/investigation thereon is actually being monitored by this Court. The monitoring of investigations/inquiries by the Court is intended to ensure that proper progress takes place without directing or channeling the mode or manner of investigation. The whole idea is to retain public confidence in the impartial inquiry/investigation into the alleged crime; that inquiry/investigation into every accusation is made on a reasonable basis irrespective of the position and status of that person and the inquiry/investigation is taken to the logical conclusion in accordance with law.
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2013 (12) TMI 1649 - ITAT DELHI
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... ... ..... Mahesh Garg did not mention anywhere that he provided accommodation entry to the assessee which is an educational society. In view of the above, we, respectfully following the above decisions of Hon'ble Jurisdictional High Court, hold that the information on the basis of which the Assessing Officer had initiated proceedings under Section 147 was vague and uncertain and, therefore, the above decisions of Hon'ble Jurisdictional High Court would be squarely applicable. Respectfully following the same, we quash the notice issued under Section 147 of the Act and consequently, the assessment order passed in pursuance thereto is also quashed. 9. Once the assessment order itself has been quashed, the additions which are disputed by the assessee in further grounds of appeal do not survive and, therefore, no adjudication of the remaining grounds is required. 10. In the result, the appeal of the assessee is allowed. Decision pronounced in the open Court on 31st December, 2013.
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2013 (12) TMI 1648 - BOMBAY HIGH COURT
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... ... ..... f building and structures were provided in the schedule of the Scheme and pursuant to the authority given under the Board Resolution, the application is filed for correction of the details of immovable properties. The learned counsel for the applicants states that the basic fabric of the Scheme is retained and the properties are also transferred only the details are sought to be corrected. The learned counsel submits that the valuation will also not change can be seen from the report of the Chartered Accountant. The learned counsel for the Regional Director, on instructions, states that he has no objection. 4. It appears from perusal of the applications that what is sought is the change in the details of the assets and the requisite Board Resolution is passed. At the time of Scheme, none had come forward to oppose the grant of Scheme. 5. Accordingly, the applications are allowed in terms of prayer clauses (a) and (b). Amendment to be carried out within four weeks from today.
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2013 (12) TMI 1647 - COMPANY LAW BOARD, CHENNAI
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... ... ..... iew of the reason that the petitioner are no more shareholders of the company. Therefore rectification of register of members does not arise. Accordingly CA/ 165/2011 is allowed. It is state that the learned counsel for the respondents herein filed an application being CA/ 1/2013 in the above petition to receive the additional documents. After hearing the counsel I am of the view that the documents which was filed by the petitioners will not help in any way to substantiate their case. Accordingly CA/ 1/2013 in CP/34/2011 is dismissed. The learned counsel for the respondents herein filed another application being CA/2/2013 to receive additional documents after reserving the matter. After examining the documents I am of the view that the said documents do not support the case of the petitioners. Accordingly CA/2/2013 in CP/34/2011 is dismissed. In view of the reasons as stated above the petition is not maintainable. Accordingly, CP/34/201 1 is dismissed. No orders as to costs.
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