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  • 2016 (5) TMI 1035 - ITAT KOLKATA

    DCIT, Circle-6, Kolkata Versus M/s Transafe Services Ltd. And Vice-Versa

    Income Tax: Addition for claiming the loss without the support of audited accounts - losses are claimed by the assessee on the investigation report carried out by KPMG - CIT(A) deleted the addition - Held that:- Supreme Court in the case of Lakshmi Machine Works (2007 (4) TMI 202 - SUPREME Court ) we find that income tax should be levied on the real profits. The real profit should be worked out on the basis of accounting principles and in the ordinary course.....

  • 2016 (5) TMI 1034 - ITAT BANGALORE

    Income-tax Officer (Exemption) Versus Sri Shirdi Sai Samaj

    Income Tax: Applicability of section 115BBC to the donations received by the appellant trust by way of pooja and hundi collections - Held that:- Anonymous donations made to the wholly charitable and religious trust, institution with a specific direction that donations is for any university or educational institution or any hospital or other medical institution run by them can only be treated as anonymous donations. Anonymous donations made to religious trust.....

  • 2016 (5) TMI 1033 - ITAT BANGALORE

    Shri Pradeep Kar Versus The Assistant Commissioner of Income Tax, Circle 12 (1) , Bangalore

    Income Tax: Gain arising from transfer of flat in National Co-operative Group Housing Society as Short term or long term in nature - Held that:- Since the assessee has acquired the right in the flat from the date of allotment of share certificate in his favour, the capital gain accrued to the assessee is in the nature of long term capital gain, whereas computation of the same varies on account of payments made by the assessee on different dates towards acqu.....

  • 2016 (5) TMI 1032 - ITAT MUMBAI

    Varun Corporation Limited Versus ITO, Ward-2 (3) (4) , Mumbai

    Income Tax: Allowability of loss on demerger in the computation of book profit u/s 115JB - MAT - Held that:- The claimed loss was disclosed by the assessee in the profit & loss account as an extraordinary item and such loss was arrived at by reducing the same from the book value of the asset transferred and further the treatment as given by the assessee to the loss, arose on demerger is in accordance with part II & III to schedule VI of the Companies Act and.....

  • 2016 (5) TMI 1031 - ITAT CHENNAI

    M/s. Indus Valley Housing Versus The Assistant Commissioner of Income-tax, Business Circle-XIII, Chennai.

    Income Tax: Levy of penalty u/s.221(1) - default of non-payment of self-assessment tax - Held that:- Reading of Sec.221 of the Act shows that the Explanation wherein as “may” not “shall” which is subjective of the fact that imposition of penalty is neither automatic nor mandatory. The discretion is left with the A.O to decide whether to impose penalty or not, by considering the explanation of the assessee. This fact is evident from the provisions of section .....

  • 2016 (5) TMI 1030 - ITAT CHENNAI

    The Income-tax Officer, Ward-I (1) , D.P. Thottam, Muthialpet Versus Late K. Muthukaruppan Pondicherry

    Income Tax: Penalty passed u/s.271D and 271E - borrowing the money in cash - Held that:- For the asst. year 2008-09, the assessee borrowed ₹ 20 lakhs and deposited by the assessee in bank account No.32 with UCO Bank. Thereafter the amount was transferred to M/s. ICICI Bank account. Similarly for the asst. year 2009-10, the assessee borrowed ₹ 20 lakhs and deposited with UCO Bank and M/s. ICICI Bank. For the asst year 2010-11 also, the assessee bo.....

  • 2016 (5) TMI 1029 - ITAT CHENNAI

    Shri. V. Rajagopal Versus The Deputy Commissioner of Income Tax, Circle IV, Trichy

    Income Tax: Salary income or professional income - Amount received by the managing director as consultancy charges - TDS was deducted u/s 194J - Disallowance of expenditure land and professional income is treated on par with salary income of the assessee - Held that:- The assessee is eligible to receive consultancy fees and claim expenditure. The nature of expenditure being travelling, lodging, conveyance incurred at various places of Thermal power station,.....

  • 2016 (5) TMI 1028 - ITAT VISAKHAPATNAM

    The DCIT, Circle-3 (1) (TDS) , Vijayawada Versus The Krishna District Milk

    Income Tax: TDS u/s 194H - whether amount to retail concessionaires is in the nature of commission to attracts TDS provisions? - Held that:- Respectfully following the decision of Hon’ble High Court of Delhi in the case of CIT Vs. Mother Diary India Ltd.(2008 (12) TMI 436 - ITAT DELHI ), we are of the opinion that the arrangement between assessee and its retail concessionaire is not in the nature of principal to agency basis and which is principal to princip.....

  • 2016 (5) TMI 1027 - ITAT KOLKATA

    Bridge & Building Construction Company Pvt. Ltd. Versus CIT (Central-1) , Kolkata

    Income Tax: Revision u/s 263 - assessee providing accommodation entries - Held that:- The first reason was that the AO could not verify the genuineness of the assessee in accordance with the query raised from the office of income tax- Delhi. The query was raised that the assessee might be engaged in providing accommodation entries to M/s Skyline engineering contracts India private Limited. So it was required by Delhi income tax office to verify genuineness o.....

  • 2016 (5) TMI 1026 - ITAT AHMEDABAD

    Ahmedabad Urban Development Authority Versus ACIT (Exemption) , Ahmedabad

    Income Tax: Exemption u/s 11 denied - non charitable activity - Held that:- Huge profits have been made by the assessee in these years. If that be so, where is the element of charity? The activity of developing roads, park or laying of sewerage land are not to be seen representing a charitable act. These are just to demonstrate that the assessee shall perform the activity of advancement of any other objects of general public utility. But auction of land to t.....

More Income Tax Cases

  • 2016 (5) TMI 1056 - ITAT KOLKATA

    M/s. Gentex Merchants Private Limited Versus W.T.O, Ward 8 (4) , Kolkata

    Wealth tax: Scope of Assets u/s 2(ea) of Wealth Tax Act, 1957 - inclusion of residential building let out and only for brief period the property was vacant - Letting out period is less than 300 days - Held that:- It could be appreciated that the ‘asset’ which was taxed u/s 2(ea)(i) of the Act was legally in existence only for a period of 92 days during FY 2005-06. In the circumstances, it was not possible to let the said property for period of at least 300 .....

  • 2016 (5) TMI 980 - ITAT AHMEDABAD

    WTO Sabarkantha Ward-3, Himatnagar Versus H.H. Maharaja Daljitsinghji

    Wealth tax: Valuation of immovable properties - matter refereed to Department Valuer for determining the fair market value - Held that:- While deciding the issue in favour of assessee ld.CWT(A) has given a finding that identical issue about the valuation of same property arose in assessee’s case for AYs 1987-88 & 1988-89 and that the Co-ordinate Bench of Tribunal had decided the issue in favour of assessee. Accordingly, the claim of the appellant that the v.....

  • 2016 (5) TMI 888 - BOMBAY HIGH COURT

    The Commissioner of Wealth Tax, Versus M/s Goa International School Pvt. Ltd.,

    Wealth tax: Urban land - nature of land - whether any error was committed by the learned Tribunal while coming to the conclusion that the subject land is not urban land - Held that:- The relevant Assessment Year in the present case is admittedly much before the coming in force of the said amendment and as such the distance of examining whether such land is urban land or not an aerial distance or crow's flight based on such amendment would not arise. There is.....

  • 2016 (5) TMI 841 - DELHI HIGH COURT

    Commissioner of Wealth Tax Versus Mohan Exports India P. Ltd

    Wealth tax: Property included in net wealth - Held that:- In a situation like the present one where the possession and control of the property vests with the Assessee to the exclusion of everyone else and it is the Assessee who is exploiting the property for its own purposes, it is not open to the Assessee to contend that the property in question does not belong to it. Consequently the question framed is answered in the negative, i.e., in favour of the Reven.....

  • 2016 (5) TMI 659 - ITAT HYDERABAD

    RKS Motor Pvt. Ltd. Versus Dy. Commissioner of Wealth tax, Circle – 3 (1) , Hyderabad

    Wealth tax: Treatment to cars used in the business of the assessee as assets for wealth tax purpose - Held that:- There is no doubt the cars were used in the business, which are essential to run the business, which are applied in the business similar to ‘plant and machinery’. The intent of the legislature to exclude the cars which are used in the business for running them on hire. Here, these are excluded because the cars are used as ‘plant and machinery’, s.....

More Wealth tax Cases

  • 2016 (5) TMI 1055 - DELHI HIGH COURT

    The Principal Commissioner, Service Tax, Delhi- Versus Shubham Electricals

    Service Tax: Validity of SCN and adjudication order - Held that:- as rightly pointed out by the CESTAT, the Department itself is unclear whether the service performed by the Respondent was “management maintenance or repair service” or “Erection, Installation and Commissioning Services”. This vagueness goes to root of the matter. Therefore, the court concurs with the CESTAT that the SCN as well as the Adjudication Order are vague as to the taxable service perf.....

  • 2016 (5) TMI 1054 - DELHI HIGH COURT

    Ahluwalia Construction Group Versus Commissioner of Service Tax, Delhi-i,

    Service Tax: Waiver of pre-deposit - Demand of Service tax - Construction Service - contravention of the Circular dated 24th August, 2010 issued by CBEC clarifying that the activity had to be treated as a works contract - Issue pointed out of the exigibility of the works contract executed by the Petitioner to service tax by wrongly classifying it as ‘construction service’, has not been taken note of by the CESTAT - Held that:- in a similar appeal before this .....

  • 2016 (5) TMI 1053 - CESTAT CHENNAI

    M/s. Source HOV India P. Ltd. Versus Commissioner of Service Tax, Chennai - I

    Service Tax: Refund claim - Allowability of input service Cenvat credit - Claim was not in accordance with foreign exchange realisation - Held that:- Learned Commissioner (Appeals) has not at all examined what was the issue before him in Appeal No.21/2013 but has abruptly come to the conclusion on a different premise holding inadmissibility of certain input credit. Therefore, the matter is remanded to him re-examine the controversy before him as emanated fro.....

  • 2016 (5) TMI 1052 - CESTAT CHENNAI

    eClouds Versus Commissioner of Central Excise, Coimbatore And Vice-Versa

    Service Tax: Computation of interest on service tax not paid or delayed paid - Revenue contended that Commissioner ought not to have adjusted the service tax payable on the import with that paid on the output service. - Held that:- no serious infirmity is found in the view taken by the Commissioner that adjustment of service tax payable in the import of services as well as paid on the output service can be permitted as long as the liability is adjusted withi.....

  • 2016 (5) TMI 1051 - CESTAT NEW DELHI

    M/s Emaar Mgf Construction Pvt. Ltd. Versus Commissioner of Service Tax Delhi

    Service Tax: Waiver of pre-deposit - Business arrangement between DDA and applicant - Construction of residential complex - Service tax liability along with penalties - Section 77 and 78 of the Finance Act, 1994 - Held that:- the whole issue of tax liability and exact quantification requires a close scrutiny and detailed examination at the time of deciding the appeal, the discussion leads to the conclusion that the appellant could not make out a case for full.....

  • 2016 (5) TMI 1002 - CESTAT CHENNAI

    CST, Chennai Versus M/s. Premedia Global Pvt. Ltd.

    Service Tax: Period of limitation - Entitlement of refund claim - Cenvat credit on input Service tax paid prior to its registration - no time limit prescribed by Rule 5 of Cenvat Credit Rules, 2004 to refund the un-utilized cenvatable credit - Held that:- so far as the grant of Cenvat credit which pertains to the pre-registration period is concerned, Hon’ble High court of Karnataka in the case of mPortal India Wireless Solutions Pvt. Ltd. Vs. CST, Bangalore [.....

  • 2016 (5) TMI 1001 - CESTAT CHENNAI

    The India Cement Ltd. Versus Commissioner of Central Excise, Salem

    Service Tax: Availment of Cenvat credit - Telephone/mobile phone and courier service - period involved is August 2013 to March 2014 - Held that:- the issue stands already decided by this Bench in the appellant's own case reported in [2016 (5) TMI 906 - CESTAT CHENNAI], therefore, by following the same the appellants are entitled to credit on telephone/mobile phone and courier services for the subsequent period also. Hence, the demand and penalty is set aside. - Decided in favour of appellant with consequential relief

  • 2016 (5) TMI 1000 - CESTAT NEW DELHI

    Prime Rockwool Versus C.C.E., Jaipur-I

    Service Tax: Waiver of pre-deposit - Demand of Service tax - Errection, commissioning and installation service (65 (105) (zzd) of Finance Act, 1994 - Non-eligibility for abatement under Notification No. 1/2006 inasmuch as it did not supply any plant, machinery or equipment nor had it erected, commissioned or installed such plant, machinery or equipment - Held that:- col.3 of the table appended to Notification No. 1/2006-ST providing for 67%, covers erection c.....

More Service Tax Cases

  • 2016 (5) TMI 1050 - CESTAT NEW DELHI

    M/s. Shree Mahadeo Cotton Mills Ltd., M/s. Nutech Global Ltd. and M/s. Radiant Silk Mills Pvt. Ltd. Versus C.C.E. Jaipur-II

    Central Excise: Whether grey fabric manufactured by the appellants and sent by them to the job worker is required to be treated as intermediate products so as to invoke provision of rule 16(B) - Held that:- the issue is no more res integra. By following the decision of Tribunal in the case of M/s. Valentino Syntex Pvt. Ltd. Vs. CCE Jaipur [2008 (2) TMI 806 - CESTAT, NEW DELHI], the grey fabric manufactured by the assessee out of duty paid yarn and cleared to the.....

  • 2016 (5) TMI 1049 - CESTAT KOLKATA

    M/s. Dharampal Satyapal Ltd. Versus Commr. of Central Excise, Shillong

    Central Excise: Eligibility of Cenvat credit of NCCD - paid on input panmasala received by the appellant from the suppliers who availed the benefit of Notification No. 27/2001-CE dated-11/5/2001 - Rule 3(1)(v) of the CENVAT Credit Rules - Held that:- the contention raised by the appellant, that NCCD duty credit utilized by debiting the CENVAT Credit account, cannot be denied for units not availing area based exemption, is acceptable as these amounts are not hit .....

  • 2016 (5) TMI 1048 - CESTAT NEW DELHI

    Sesame Foods Pvt. Ltd. Versus C.C.E., Jaipur-I

    Central Excise: Demand of duty - equivalent to duty foregone on the inputs (diesel/furnace oil) procured availing benefit of Notification 22/03-CE dated 21.03.2003-CE thereof - Waste of sesame seeds cleared without payment of duty although the same resulted from use of diesel/furnace oil - sesame seeds among others are allowed clearance on payment of nil rate of duty vide Notification No.23/2003-CE dated 31.03.2003. This confirms that waste of sesame seeds is n.....

  • 2016 (5) TMI 1047 - CESTAT MUMBAI

    Hardik Founders And Engineers Pvt. Ltd. Versus Commissioner of Central Excise, Pune-I

    Central Excise: Entitlement of Cenvat credit - Security services, Fettling Contract Services and Architectural Services - Services not received in the registered unit - Held that:- Cenvat Credit in respect of the input service cannot be denied merely for the reason that the services were received and used outside the registered premises. There is no prohibition for availing the Cenvat Credit in such cases, the Cenvat Credit on input service is admissible so long.....

  • 2016 (5) TMI 1046 - CESTAT MUMBAI

    M/s. Emmes Metals Pvt. Ltd. Versus Commissioner of Central Excise, Mumbai

    Central Excise: Entitlement for Cenvat credit - debit notes issued by the service provider in respect of service - Ld. Commissioner raised some shortcomings in the debit notes denying the credit - Held that:- whatever informations required in terms of Rule 4A in the document, more or less all the informations are appearing in the debit notes, therefore the debit notes can be accepted for allowing Cenvat Credit. Therefore, this Tribunal has taken a consistent vie.....

  • 2016 (5) TMI 1045 - CESTAT ALLAHABAD

    Commissioner of Central Excise, Allahabad Versus M/s Hindustan Cables Ltd.

    Central Excise: Extended period of limitation - Valuation - Inadmissibility of deduction of transportation charges on equalized basis - Rule 5 of Central Excise Valuation Rules, 2000 - Duty demanded alongwith penalty - Revenue contended that assessee did not disclose any vital facts to the Department that they were not including freight and insurance charges in the assessable value while making the delivery at FOR destination - Held that:- the respondent assesse.....

  • 2016 (5) TMI 1044 - CESTAT MUMBAI

    M/s. Catwalk Worldwide Private Limited Versus Commissioner of Central Excise & Customs, Mumbai

    Central Excise: Refund claim - excess duty paid as regards to abatement - refund claim sanctioned but credited to consumer welfare fund under the provisions of 11B(2) of Central Excise Act, 1944 - No evidence produced regarding unjust enrichment - Held that:- it is found that appellant had submitted detailed reply along with various documents and explanation of documents. In the Order-In-Original, the adjudicating authority credited the sanctioned refund amount .....

  • 2016 (5) TMI 1043 - CESTAT MUMBAI

    Vidyut Metallics Pvt. Ltd. Versus Commissioner of Central Excise, Mumbai-III

    Central Excise: Recovery of interest and imposition of penalty - Rule 25 and Section 11B respectively - Differential duty has already paid - Assessee have not followed the procedure of provisional assessment as laid down under Rule 7 of the Central Excise Rules, 2002 - No malafide intention as the assessee was discharging duty under Rule 8 of the Central Excise Valuation (Determination of Price of Excisable Goods) Rules 2000. Held that:- the assessable value .....

More Central Excise Cases

  • 2016 (5) TMI 1042 - DELHI HIGH COURT

    Ramesh Kumar Versus Commissioner Of Customs

    Customs: Seeking release of bank guarantee - furnished at the time of provisional release of goods - Consignment seized - Mis-declaration and under-invoicing under Panchnama - Fine and penalty deposited - Respondent stated that he is not sure whether any writ petition has been filed challenging the orders of the Customs and Central Excise Settlement Commission - Held that:- the said lack of information should not lead to an adjournment as this Court only .....

  • 2016 (5) TMI 1041 - DELHI HIGH COURT

    Pan Parag India Ltd & Anr. Versus Commissioner of Customs (Export) Delhi & Anr.

    Customs: Seeking cross-examination of two persons whose statements were relied upon while issuing the SCN - Cross-examination denied by the order that "there is no such direction in the above referred order of Hon’ble High Court of Delhi and also the same was also never sought by you at the time of adjudication proceedings held earlier in the said matter.” - Held that:- the reason given is plainly untenable apart from the fact that the AC who passed the a.....

  • 2016 (5) TMI 1040 - DELHI HIGH COURT

    Kothari Product Ltd & Anr. Versus Commissioner of Customs (Export) ICD Tughlakabad New Delhi & Anr.

    Customs: Seeking cross-examination of two persons whose statements were relied upon while issuing the SCN - Cross-examination denied by the order that "there is no such direction in the above referred order of Hon’ble High Court of Delhi and also the same was also never sought by you at the time of adjudication proceedings held earlier in the said matter.” - Held that:- the reason given is plainly untenable apart from the fact that the AC who passed the a.....

  • 2016 (5) TMI 1039 - DELHI HIGH COURT

    NPT Papers Pvt. Ltd. Through: Its Accountant Girish Bagdi Versus Principal Commissioner of Customs ICD (Import) Tughlakabad, New Delhi & Ors.

    Customs: Seeking amendment in the petition to challenge the order passed by the Respondents subsequent to the filing of the writ petition imposing the conditions for release of the goods - Held that:- as rightly pointed out by the Respondents, under Section 128 of the Customs Act, 1962 even such an order is appealable. Consequently, the Petitioner would have to file an appeal against the said order before the Commissioner (Appeals). It is directed that in.....

  • 2016 (5) TMI 989 - CESTAT CHENNAI

    Commissioner of Customs (Imports) , Chennai Versus Vuppalamritha Magnetic Components Ltd.

    Customs: Eligibility for exemption benefit of Customs Notification No.21/2005-Cus. dt. 1.3.2005 - Import of various parts, such as PCB, Plastic casings etc. for the manufacture of Fixed Wireless Terminal - Held that:- Apex Court has settled the issue once and for all that the equipments working on FWT technology can be considered to be on par with cellular phones. This decision has also been followed by this Tribunal in many of its cases, such as in the c.....

More Customs Cases

  • 2016 (5) TMI 1038 - CALCUTTA HIGH COURT


    VAT and Sales Tax: Whether bitumen emulsion should be regarded as bitumen and covered by Entry 14 of the list of goods taxable at five per cent in Part-I of Schedule C to the West Bengal Valued Added Tax Act, 2003 - Held that:- while matching goods against the entries in schedules under the sales tax and VAT laws, ought to be the test of a product’s relatability to a particular entry based on its commercial identity, use and the common parlance test. If any commodi.....

  • 2016 (5) TMI 1037 - MADRAS HIGH COURT

    Nokia India Sales Private Limited Versus The Assistant Commissioner (CT) , State of Tamil Nadu

    VAT and Sales Tax: Liability of purchase tax - Inter-state stock transfer made to their own branches located in other States effected from the warehouse located in the Special Economic Zone - Appellant contended that they have an exemption by virtue of Section 12(1)(a) of TNSEZ Act, 2005. Such exemption as every developer or entrepreneur is entitled to exemption from the levy of taxes both on the sale as well as the purchase of goods, if such goods are meant to car.....

  • 2016 (5) TMI 984 - GUJARAT HIGH COURT

    Dharampal Satyapal Limited & 1 Versus State of Gujarat & 3

    VAT and Sales Tax: Applicability of Section 50 of the GVAT Act, 2003 - Movement of goods post-delivery to the CSA - Liability of tax - Tax already deposited under protest and CSAs have also sought further installments to pay such amount - Held that:- the respondents shall provide all the books of account to the petitioners as well as any of the hard-disks seized by them to enable the petitioners to respond to any of the queries raised by the Value Added Tax Departm.....

  • 2016 (5) TMI 912 - MADRAS HIGH COURT

    M/s. Schwing Stetter (India) Pvt. Ltd. Versus The Commissioner of Commercial Taxes, The Commercial Tax Officer

    VAT and Sales Tax: Validity of law - rate of tax - interstate movement of goods - Change in nature of goods merely on the basis of the location in which they are used - Section 2(11) - Petitioner contended that if certain goods are admittedly capital goods, their nature will not change merely because they were sold in the course of inter-state trade or commerce, to persons outside the State - Held that:- argument of the petitioners is based merely upon logic and c.....

  • 2016 (5) TMI 911 - ALLAHABAD HIGH COURT

    M/s Chandok Textiles Enterprises Pvt. Ltd., M/s S.B. Fabtex Pvt. Ltd Versus State of U.P. & 2 Others

    VAT and Sales Tax: Imposition of VAT on the dyes, chemicals etc. - treating them to be deemed sales - used in the dyeing, colouring and printing of cloth for various traders - Held that:- it was no longer open to the assessing authorities to take a different stand as given by the State Government, which has also been affirmed by this Court. The State Government has clearly given a decision that dyes and chemicals used in the processing of the cloth loose their iden.....

More VAT and Sales Tax Cases

  • 2016 (5) TMI 1036 - BOMBAY HIGH COURT

    Afzal Khan & Anr. Versus Mehboob Ayub Khan & Ors.

    Corporate Laws: Transmission of shares - rectification of register of members - validity of the refusal of the company to transmit 726 and 128 shares jointly held by Mehboob and Yasmin, respectively, with Ayub upon the latter's death - Held that:- In the present case, the resolution of the Board of Directors dated 12 September 2011 does not stand the scrutiny of these tests. During the brief period, i.e. between 4 April 2011 and 23 November 2011, when the Appel.....

  • 2016 (5) TMI 983 - CALCUTTA HIGH COURT

    Priyamvada Devi Birla (deceased) And Harsh Vardhan Lodha & Ors. Versus Ajay Kumar Newar & Ors.

    Corporate Laws: Application for grant of probate - Application filed by the predecessor-in-interest of the present plaintiffs who, as executor and/or propounder applied for grant of probate of the Will published by one Priyamvada Devi Birla in short P.D.B on 18th April, 1999 along with the codicil dated 15th April, 2003 to the said Will - Held that:- Board of Directors of a company is authorized to exercise its power on behalf of the company by means of resoluti.....

  • 2016 (5) TMI 910 - GAUHATI HIGH COURT

    Calcom Cement India Limited, Dalmia Cement (Bharat) Limited Versus Binod Kumar Bawri

    Corporate Laws: Validity of interim order - CLB had passed the interim order directing the parties to maintain status quo as regards the share holding and composition of the Board of Directors of the company with a further restraint order upon both the rival groups from creating any third party interest over the fixed assets of the company without the leave of the Board - Held that:- In order to succeed in getting a reference of the disputes raised under Section.....

  • 2016 (5) TMI 909 - KARNATAKA HIGH COURT

    Sri. Sharath Rukmangada S/O Late Sri NB Rukmangada Versus Cauvery Papers Ltd. (In Liqn)

    Corporate Laws: Recovery of Debts Due - provision for the recovery of debts - sale of property - Held that:- The present application are not at all the workmen of the company-in-liquidation. They are the legal representatives of one Sri N.B. Rukmangada, who was the director of the company-in-liquidation, who furnished guarantee to the financial institution when the company borrowed the loan from the said financial institution. After the demise of the said Sri N.....

  • 2016 (5) TMI 885 - MADRAS HIGH COURT

    In Re : Samalpatti Power Company Private Limited

    Corporate Laws: Reduction of Equity Share Capital - Held that:- This Company Petition is ordered: (i) confirming the reduction of the paid-up equity share capital of the petitioner Company duly approved in terms of the Special Resolution passed by the equity shareholders at the Extra Ordinary General Meeting held at Mumbai on 4th December, 2015 ; (ii) approving the proposed Minute marked as Annexure-10; and (iii) not requiring the petitioner Company to .....

More Corporate Laws Cases

  • 2016 (5) TMI 740 - SUPREME COURT

    Jatin C Jhaveri Versus Union Of India And Vice-Versa

    FEMA: Confiscation of foreign currency and imposition of penalty - Clauses (d), (e) and (i) of Section 113 of the Customs Act, 1962 - Seizure of US dollars - Import of currency as advance payments towards supply of diamonds - absence of requisite permission of Reserve Bank of India - Held that:- the greater significance and important is the absence of any special or general permission as contemplated under Section 8(1) of FERA. No such permission is pr.....

  • 2016 (5) TMI 518 - SUPREME COURT

    V. Suganthi Versus Joint Secretary To Govt. Of India & Anr

    FEMA: Preventive detention passed against the detenue [husband of the appellant herein] as well as few other persons - Held that:- It has come on record and noted in the order of detention that large sums of money were received in the said bank account which was opened in the name of the detenue and the money which was disbursed from this account amounted to ₹ 40.52 crores. It was further found by the detaining authority that the detenue was also.....

  • 2016 (4) TMI 782 - KERALA HIGH COURT


    FEMA: Aggrieved person - Whether the 4th respondent, Assistant Director, Directorate of Enforcement can be said to be an “aggrieved person” from the order dated 3.7.2013 of the Adjudicating Authority, the Assistant Director, Directorate of Enforcement so as to file an appeal under Section 17(2) of 1999 FEMA Act - Held that:- Section 19 of the 1999 Act provides appeal to the Appellate Tribunal against an order; (i) passed by the Adjudicating Authority .....

  • 2016 (4) TMI 759 - BOMBAY HIGH COURT

    Union of India Versus Dimple D. Sheth

    FEMA: Default to file a private paper book - Held that:- The delay has been continuing over last eight years. Even after this Court had permitted the applicant/appellant to file a private paper book, still the default has continued. It is not known why the applicant/appellant has not been able to trace the record. The explanation therefore, does not inspire much confidence. The Director of Enforcement cannot go on giving instructions to seek time or.....

  • 2016 (4) TMI 715 - MADRAS HIGH COURT

    Mohammed Yusuff Sahib Versus Special Director, Enforcement Directorate, New Delhi.

    FEMA: Proceedings under Section 51 of the Foreign Exchange Regulation Act, 1973 - Currency seized from the premises of assessee should be confiscated to the Central Government in terms of Section 63 of the Foreign Exchange Regulation Act, 1973 - maintainability of the appeal filed by the respondents before the Tribunal - Held that:- A careful comparison of the provisions of the Foreign Exchange Regulation Act, 1973 and the Foreign Exchange Management A.....

More FEMA Cases

  • 2016 (5) TMI 982 - BOMBAY HIGH COURT

    Pan India Motors Pvt. Ltd. Versus Asset Reconstruction Company (India) Ltd. and anothers

    Allied Laws: Debt Recovery order - sale of property was ordered to be cancelled and was set aside - Held that:- No question of limitation arises either. Article 127 of the Limitation Act is premised on the case falling under Order 21 Rr 89-91 of the Code of Civil Procedure, 1908. Those provisions are inapplicable to a case where a sale has been set aside on account of a default on the part of the purchaser in complying with the terms and conditions of the sal.....

  • 2016 (5) TMI 981 - DELHI HIGH COURT

    M/s Mahanivesh Oils & Foods Pvt. Ltd. Versus Directorate Of Enforcement

    Allied Laws: Provisional attachment order challenged - entire basement and ground floor of the property situated at E-14/3, Vasant Vihar, New Delhi belonging to Smt. Alka Rajvansh has been attached considering it as proceeds of crime - Held that:- Deputy Director, Directorate of Enforcement – the concerned officer who passed the impugned order – would require to have sufficient cause to believe that the property sought to be attached would be transferred or .....


    M/s Bakshi Chemicals (P) Ltd. Versus Punjab National Bank and others

    Allied Laws: Maintainability of appeal - RTI - challenge the validity of order passed by the Central Information Commissioner - Held that:- The present petition is not maintainable at the instance of the petitionercompany, that too by its Director because the petitioner-company has already been wound up vide order dated 05.08.2014 passed by this Court the Official Liquidator attached to the Court has taken over the charge of both the movable and immovable ass.....

  • 2016 (5) TMI 882 - DELHI HIGH COURT


    Allied Laws: Entitlement to officials of the petitioner summoned to be accompanied by the advocate(s) - case before the Competition Commission of India (CCI) under Section 26(1) of the Competition Act, 2002 wherein the petitioner was one of the opposite parties in the case related to a cartel/bid-rigging; - Held that:- Section 30 of the Advocates Act confers on an advocate a right to practice inter alia before any person legally authorized to take evidence......

  • 2016 (5) TMI 822 - GUJARAT HIGH COURT


    Allied Laws: SARFAESI Act - alternative statutory remedy - maintainability of petition - Held that:- An action under Section 14 of the Act constitutes an action taken after the stage of Section 13(4), and therefore, the same would fall within the ambit of Section 17(1) of the Act. Thus, the Act itself contemplates an efficacious remedy for the borrower or any person 1 affected by an action under Section 13(4) of the Act, by providing for an appeal before the .....

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Jiva Seva is Shiva Seva :
Service to humanity is Service to God

May I be born again and again, and suffer thousands of miseries so that I may worship the only God that exists, the only God I believe in, the sum total of all souls—and above all, my God the wicked, my God the miserable, my God the poor of all races, of all species, is the special object of my worship.

- Swami Vivekananda, CW, 5:137

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