2016 (2) TMI 434 - GUJARAT HIGH COURT
PR. Commissioner of Income -Tax-Gandhinagar Versus Gandhinagar Telerads
Income Tax: Valid compliance for claiming of deduction u/s.10A - Whether the report in Form No. 56F not filed with return and also not during the course of assessment proceedings can be said be valid compliance for claiming of deduction u/s.10A? - Held that:- The statutory language contained in subsection ( 5) of section 10A of the Act with subsection (4) of section 80HHC of the Act which also insists on the assessee furnishing the report of the accountant f.....
2016 (2) TMI 433 - ITAT MUMBAI
ADIT (IT) -3 (1) , Mumbai Versus The Hong Kong and Shanghai Banking Corporation Ltd. And Vica-Versa
Income Tax: Validity of reopening of assessment - Held that:- mere mentioning that sanctioning authority was satisfied is not sufficient to initiate re-assessment proceedings, where during the original assessment proceedings AO takes a particular view after considering the submission of the assessee. It is not the case where assessee had not filed details required by the AO. If the AO decided not to call for particular information the assessee cannot he held.....
2016 (2) TMI 432 - ITAT AHMEDABAD
Jay Agriculture & Horticulture Pvt. Ltd. Versus Pr. CIT-2 Ahmedabad
Income Tax: Revision u/s 263 - undisclosed business income - Held that:- As the assessee has placed on record computation of income, details of expenditure and all other details called for by the AO. The assessee has an income of ₹ 906/- under the head “Business Income”. This income was earned by the assessee from renting of weigh-bridge. In our opinion, the ld.Commissioner was of the view that against an income of ₹ 906/- from the operation of w.....
2016 (2) TMI 431 - ITAT MUMBAI
M/s H & R Johnson India Ltd. (Now Known As A. Division O Prism Cement Ltd) Versus The Asst. CIT, Mumbai
Income Tax: Commission payment - whether the commission to be accepted to have been incurred for business purposes? - Held that:- Mere making a claim is not sufficient-it has to backed by documents and evidences. The assessee has failed in discharging the onus cast upon it by the provisions of the Act. Hon'ble jurisdictional High Court, in the matter of Ramanand Sagar (2002 (2) TMI 52 - BOMBAY High Court ), has held that Section 37 of the Act deals with the .....
2016 (2) TMI 430 - ITAT DELHI
ACIT, Circle-1, Meerut Versus Jitendra Kumar Gupta
Income Tax: Long term capital loss disallowed - Held that:- As the expression "full value of consideration" used in section 48 of the Income Tax Act, 1961 does not have any reference to market value, we are of the view that the Assessing Officer was having no power to replace the value of the consideration agreed between the parties with any fair market value or estimation. Only because the Pioneer Ltd. had shown the book value of shares at the rate of ͅ.....
2016 (2) TMI 429 - ITAT PUNE
Span Overseas Private Limited Versus The Commissioner of Income Tax – III, Pune
Income Tax: Revision u/s 263 - No levy of penalty under section 271(1)(c) on disallowance u/s under section 14A by AO - Held that:- The assessment was completed under section 143(3) of the Act, under which the disallowance was made by the Assessing Officer under section 14A of the Act read with Rule 8D of the Rules at ₹ 40,92,835/-, as against suo-moto disallowance made by the assessee of ₹ 4,35,012. In respect of the aforesaid addition, the Asse.....
2016 (2) TMI 428 - ITAT CHENNAI
M/s Macro Marvel Projects Ltd. Versus Deputy Commissioner of Income Tax
Income Tax: Disallowance u/s.40(a)(ia) - whether disallowance made u/s.40(a)(ia) to be considered as part of business profit of the assessee of the eligible projects so as to grant deduction u/s.80-IB(10)? - Held that:- An amount outstanding at the end of the close of the assessment year is not to be allowed as business expenditure in view of provisions 40(a)(ia) of the Act. Further, we make it clear that the AO should consider only payment which is not subj.....
2016 (2) TMI 427 - ITAT MUMBAI
Shir Prakash Fatandas Jassuja Versus Income Tax Officer, Ward-3 (2) , Maharashtra
Income Tax: Reopening of assessment - Held that:- There was linkage of the documents with the statement tendered by the assessee evidencing that income had escaped assessment. It is not the case in the present appeals that addition has been made merely on the basis of statement recorded by the Revenue, rather, there was enough material on record which could be unearthed on the basis of survey followed by the statement of the assessee to show that the assesse.....
2016 (2) TMI 426 - ITAT KOLKATA
M/s. Tanuj Holdings Pvt. Ltd Versus Dy. CIT, CC-1 (2) , Kolkata
Income Tax: Revision u/s 263 - deemed dividend addition u/s 2(22)(e) in assessments framed u/s 153C - Held that:- The addition towards deemed dividend u/s 2(22)(e) of the Act in the assessments framed u/s 153C of the Act for the Asst Years 2007-08 to 2010-11 without any incriminating materials found during the course of search with respect to those assessment years, is not warranted and held as not in accordance with law.
We hold that the Learned CIT had .....
2016 (2) TMI 425 - ITAT DELHI
ACIT, Sonepat Circle, Sonepat Versus Shri Sher Singh Shivrain and Vica-Versa
Income Tax: Addition on account of long term capital gain on sale of 2 residential houses and agricultural land - Held that:- Both the sale deeds have been placed in the paper book. It is further seen that the sale deed dated 14.7.2008 was specifically in respect of sale of farms house including rain water harvesting systems in the instant year. The appellant has also furnished a valuation report dated 1.7.2008 valuing the cost incurred for development work .....
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2016 (2) TMI 290 - ITAT CHENNAI
The Dy. Commissioner of Wealth-tax, Corporate Circle 1, Coimbatore Versus M/s Suguna Capital Ventures Pvt. Ltd
Wealth tax: Reassessment - Inclusion of land in the wealth tax assessment - Appellant contended that land in question was not permitted for construction and a civil suit was also pending before the Sub-court - Held that:- , merely because a civil suit is pending on the basis of the amount due to the said Smt V. Kamalam and other creditors, it cannot be said that the assessee has not acquired any title over the said land in question. Therefore, this Tribunal .....
2016 (2) TMI 260 - BOMBAY HIGH COURT
Shri Ramkrishna Bajaj (HUF) , Wardha, Shri Shankar Bajaj, Wardha, Smt. Ruparani Bajaj, Wardha, Shri Shekhar Bajaj (HUF) , Wardha, Shri Rahul Bajaj (HUF) , Wardha, Shri Rahul Bajaj (Individual) , Wardha, Smt. Vimaladevi Bajaj, Wardha And Shri Shishir Bajaj, Wardha. Versus The Commissioner of Wealth Tax (Vidarbha) , Nagpur.
Wealth tax: Determination of value of the interest of the partners in the firms on the basis of the value of the shares - it was contended that, there was no similar specific provision in the Wealth tax Act or in the Rules that while ascertaining the partner's interest - Held that:- The contention of applicant/assessee partner that value of his interest in a firm cannot be worked out on 31/03/1981 is totally erroneous in the background of scheme of the Wea.....
2016 (2) TMI 151 - ITAT KOLKATA
I.T.O., Ward-3 (1) , Kolkata Versus Happy Homes & Resorts Pvt. Ltd.
Wealth tax: Whether the land held for business purposes would be liable for wealth tax - assessee had held the unused urban land for its hotel industry purposes and started construction activities thereon commencing from Asst Year 1999-2000 onwards after carrying out the activities of land filling, leveling , earth filling, soil testing etc for the purpose of construction of hotel building.
Held that:- The approval for construction of hotel building was .....
2016 (2) TMI 112 - ITAT BANGALORE
Smt. Indrakshi Devi Versus Wealth-tax Officer, Ward 11 (1) , Bangalore
Wealth tax: Second / Third round of litigation - validity of order of AO - the learned AR of the assessee has forcefully contended that the subsequent order dated 28/12/2006 passed by the AO is without jurisdiction when the AO has already passed order dated 25/3/1997 in pursuance to the order of the CWT(A) dated 30/12/1994 which was not disturbed either by this Tribunal or by the Hon’ble High Court. Therefore, second order passed by the AO is without jurisd.....
2016 (2) TMI 74 - ITAT KOLKATA
M/s. Konark Commercial Pvt. Ltd. Versus A.C.W.T, CC-IV, Kolkata
Wealth tax: Inclusion of let out property in the wealth tax assessment - scope and ambit of wealth tax u/s 2(ea)(i)(5) - wealth tax escaped assessment u/s 17 - The assessee claimed that the said property was in the nature of commercial establishment as per section 2(ea)(i)(5) of the Act and thus it could not be included in the net wealth of assessee. - Held that:- the subject mentioned property is a commercial complex and is a productive asset deriving rent.....
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2016 (2) TMI 417 - CESTAT MUMBAI
Nirlon Ltd. Versus Commissioner of Central Excise, Mumbai
Service Tax: Cenvat Credit - Scope of input services utilised to provide Renting of Immovable Property as Output Services - payment of service tax on construction of premises which he intended to put to use as commercial complex and rented out the premises to various entities - Held that:- tax liability on renting of immovable property will not arise unless the immovable property comes into an existence, such immovable property will be in the nature of constr.....
2016 (2) TMI 392 - ITAT DELHI
Commissioner of Customs And Central Excise, Indore Versus Patel Motors
Service Tax: Valuation - inclusion of handling charges @ of 1% of the price of spares used in the repairing motor vehicles - Held that:- s the Commissioner (Appeals) finding that the handling charges were in relation to sale of goods and not in relation to provision of service is sustainable; there was no service involved in sale of such spares across the counter. - such handling charges were held to be not liable to service tax. - No demand - Decided in favor of assessee.
2016 (2) TMI 370 - CESTAT NEW DELHI
C.C.E. & S. Tax, Bhopal Versus Central Industrial Security Force
Service Tax: Refund - unjust enrichment - the impugned amount was deducted by Revenue from the refunds of Bharat heavy electricals Ltd in terms of the powers under section 87 (d) of Finance Act 1994 and BHEL recovered the said amount from the appellant by deducting the same from the payments due to the appellant for providing security services - Held that:- . It is also not in dispute that by virtue of the above referred exemption order issued by the Ministry.....
2016 (2) TMI 369 - CESTAT NEW DELHI
M/s Katiyal And Associates Versus Commissioner of Central Excise, Indore
Service Tax: Classification of services - Business Auxiliary Service (BAS) or not - assessee required to verify the details relating to residential address and /or employer office address or any other details in respect of the applicants seeking financial assistance from various banks and in respect of which these banks sought such verification - Held that:- verification of correctness, fairness and authenticity of information furnished by those seeking loan from Bank would not be classifiable under BAS - Demand set aside - Decided in favor of assessee.
2016 (2) TMI 368 - CESTAT MUMBAI
Commissioner of Central Excise, Aurangabad Versus The Divisional Controller
Service Tax: Tour Operator services - whether the vehicles operated by the appellant conform to the definition of tourist vehicle as provided in terms of Section 2(43) of the Motor Vehicle Act read with Rule 128 of the Central Motor Vehicles Rules. - Held that:- to be covered under the category of 'Tour Operator Service', the vehicles used should meet the specifications of tourist vehicle as specified under Rule 128 of the Central Motor Vehicles Rules. - the.....
2016 (2) TMI 367 - CESTAT AHMEDABAD
M/s Gujarat Security Guard Services Versus Commissioner, Central Excise & Service Tax, Ahmedabad-III
Service Tax: Security Agency Service - appellant submitted that demand was raised merely on the amount as shown in the ledger account, without taking into consideration the actual receipt. - reimbursement expenses including salaries and other expenses - Held that:- The matter is remanded to the Adjudicating authority to decide afresh after considering the documents and the submissions of the Appellant. In this context, the learned Advocate undertakes to appe.....
2016 (2) TMI 366 - CESTAT NEW DELHI
Protech Galvanizer & Fabricators Pvt. Ltd. Versus CCE & ST, Jaipur
Service Tax: Benefit of abatement - installation/commissioning of ground based towers for BSNL - Revenue stated that the appellant was liable to pay service tax by including the value of towers and as the value was not included abatement of 67% under Notification No. 1/2006-ST was not admissible and therefore the impugned demand is sustainable. - Held that:- the question of availability of 67% abatement under Notification No. 1/2006-ST loses relevance as wh.....
2016 (2) TMI 365 - CESTAT CHENNAI
M/s. Magnum Clothing Pvt. Ltd. Versus Commissioner Of Central Excise, Chennai
Service Tax: Refund - service tax was paid erroneously - export of services - Period of limitation - Revenue claimed that when the appellant did not follow the route of the notification, its claim is barred by law - it had not availed exemption granted by Notification No.18/2009 - Held that:- The present claim of the appellant goes to the root of section 11B which deserves consideration. Reasoning state in this order as above is fortified from the principle .....
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2016 (2) TMI 364 - CESTAT ALLAHABAD
M/s India Pesticides Ltd. Versus Commissioner of Central Excise And Service Tax, Lucknow
Central Excise: Valuation - Royalty to be included in assessable value - Held that:- As observed that the appellant have not produced evidence for payment of royalty to M/s Rohne-Poulenc Agrochemicals (India) Ltd., which needs to be considered by the adjudicating authority. Accordingly, it was held that the royalty is deductible and is not to be included in the assessable value if the appellant have paid royalty to M/s Rohne-Poulenc Agrochemicals (India) Ltd. An.....
2016 (2) TMI 363 - CESTAT CHENNAI
M/s Godrej Consumer Products Ltd. Versus Commissioner of Central Excise, Puducherry
Central Excise: Cenvat Credit on capital goods purchased by the Job worker on behalf of principal manufacture endorsed invoice - Job worker had not taken the credit of the duty paid on the capital goods - Held that:- Endorsement as above not being in dispute by Revenue as is apparent from show-cause notice that establishes the fact that appellant was consignee of the capital goods. Therefore, there should not be dispute to grant capital goods credit to the appel.....
2016 (2) TMI 362 - CESTAT NEW DELHI
Shri Sanjeev Kumar And Shri Janak Raj Versus Commissioner Of Central Excise, Chandigarh
Central Excise: Demand of duty along with interest and penalties - clearance of Chewing Tobacco clandestinely under the guise of naswar (Sniff) - Held that:- No investigation has been conducted from the consignees in the case of 46 RRs. The statement of Shri Sanjeev Kumar recorded on 01.12.2007 cannot be relied upon as on the said day Shri Sanjeev Kumar was in police custody and not in the custody of the Departmental officers. Therefore, said statement cannot be.....
2016 (2) TMI 361 - CESTAT NEW DELHI
M/s. Grasim Bhiwani Textiles Ltd. Versus CCE, Rohtak
Central Excise: Admissibility of credit of service tax paid on input service used in the manufacture of exempted as well as dutiable goods - demand of interest and imposition of penalty - Held that:- The demand of interest is countered by the learned Counsel by putting forward the contention that the credit was reversed prior to the utilization. Opening and closing balance of the credit amount pertaining to the respective months substantiates this contention put.....
2016 (2) TMI 360 - CESTAT MUMBAI
Commissioner of Central Excise, Pune-II Versus R.M. Mohite Textile Ltd.
Central Excise: Refund claim - higher rates of depreciation allowed - conversion from or exiting from Export Oriented Unit - Held that:- The dispute is one of valuation i.e., the extent to which the original value should be reduced in acknowledgement of the use to which capital goods have been put for export of goods. The goods are not transferred to another entity and thus there is no transaction value. The residuary method of valuation cannot but take into acc.....
2016 (2) TMI 359 - CESTAT KOLKATA
M/s Indian Oil Corporation Ltd., Bharat Petroleum Corpn. Ltd Versus Commissioner of Central Excise, Kolkata-VI And VII
Central Excise: Cenvat Credit - duty paying document - endorsed Bill of Entry - Extended period of limitation - Held that:- credit taken on the basis of endorsed bills of entry was correctly taken by the appellants. So for as the applicability of extended period is concerned it is observed that appellants were taking credit on the basis of documents which were submitted to the department for defacement. In the light of existing factual matrix it can not be said.....
2016 (2) TMI 330 - CESTAT NEW DELHI
M/s. Sharp Menthol India Ltd. Versus C.C.E Delhi-I And Vice-Versa
Central Excise: Area based exemption - misuse of the scheme - manufacturer of menthol located in Jammu & Kathua - notification no. 56/2002-CE - Revenue contended that these units are actually manufacturing menthol flakes i.e. (terpene /menthol / DMO) only in small quantities but were showing their production in huge quantities. Thereafter, only invoices showing payment of excise duty were issued without actually manufacturing and clearing the goods. For the cle.....
2016 (2) TMI 329 - CESTAT NEW DELHI
M/s Riba Textiles Ltd, Shri Ravinder Garg Versus Commissioner of Central Excise And Service Tax, Rohtak
Central Excise: 100% EOU - diversion of imported material - Revenue has concluded that the suppliers were engaged in diversion of imported goods without payment of duty and appellant also issued CT 3 certificate to the suppliers to procure goods without payment of duty which have been diverted to the open market on the instructions of the appellants by the supplier. Therefore, the appellants are liable to pay duty along with interest and penalties on both the ap.....
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2016 (2) TMI 391 - CESTAT CHENNAI
M/s Pioneer India Electronics Pvt Ltd Versus CC (Sea - Exp.) , Chennai
Customs: Refund of SAD - period of limitation - whether the claims were filed beyond the time limit prescribed - Notification No. 102/07-Cus - Held that:- where the goods are released on provisional assessment followed by the final assessment, the application seeking refund can be made within the period of one year or six months, as the case may be, of the final assessment as stipulated by Explanation II to Section 27 of the Act or within the enlarged per.....
2016 (2) TMI 390 - CESTAT MUMBAI
Commissioner of Customs, Goa Versus M/s Birla Furukawa Fiber Optics Ltd.
Customs: Refund of SAD - Notification No. 102/07-Cus dated 14.9.2007 - Validity of Circular No. 18/2013-Cus dated 29.4.2013 - The said refund claims were rejected by the Assistant Commissioner on the grounds that payment of 4% SAD has not been made by cash, but has been paid using the Reward Scrip i.e. Focus Product Scheme.
The entire grounds of appeal are based on Circular issued by Board and at no stage they rely or even cited the provisions of any .....
2016 (2) TMI 389 - CESTAT MUMBAI
Crown Lifters Versus Commissioner of Customs (Import) , Mumbai
Customs: Valuation - import of cranes - evasion of customs duty by: (i) working out the assessable value of cranes at ₹ 20/- per kg. to ₹ 40/- per kg., (ii) suppressing freight charges paid to the shipping line, (iii) preparing invoices on CIF basis whereas the purchase is mostly on FOB basis, (iv) getting bills of lading prepared to show fraudulently that the freight is pre-paid. - Held that:- whole case of undervaluation is essentially based.....
2016 (2) TMI 388 - CESTAT MUMBAI
Beauty Gem Versus Commissioner of Cus. (CSI Airport) , Mumbai
Customs: Detention of live consignment - request for extension of inquiry - Mis-declaration of import of processed/polished pearls as raw pearls - Claim of exemption against Replenishment License issued - Held that:- As the investigation requires time to verify records of past imports in the office of the PCCCC, I hold that there is no specific reason for extension of time with respect to live consignment dated 8-4-2014. The live consignment cannot be ke.....
2016 (2) TMI 387 - CESTAT CHENNAI
DCW Ltd. Versus Commissioner of Customs, Tuticorin
Customs: Demand of duty - Import of fake / forged DEPB licences - Appellant purchased the DEPB licneces from the market - Levy of interest and penalty - Held that:- The Hon'ble Apex court has clearly laid down and discussed the issue what is "Fraud" and "Caveat Emptor" and clearly held that buyer has no remedy against the seller and takes all risks of defect and clearly held that appellant, buyer of the licence has to establish that he made enquiry and to.....
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2016 (2) TMI 319 - KARNATAKA HIGH COURT
Sri. Anjaneya Agro Tech Versus The Deputy Commissioner of Commercial Taxes (Audit) , Davanagere and Others
VAT and Sales Tax: Input Tax Credit / Input rebate - KVAT - whether the petitioner could avail the benefit of the judgment which was rendered much after the assessment order was passed and whether such reassessment orders can be passed on their prayer for rectification of the earlier assessment. - Held that:- in a situation where if the revenue were to be in the position of the assessee and if it was discovered that by virtue of the operation of law, the revenue wa.....
2016 (2) TMI 318 - DELHI HIGH COURT
Brilliant Metals Pvt. Ltd. Versus Commissioner of Trade & Taxes
VAT and Sales Tax: Assessment under DVAT - system generated orders and notices - mismatch between the data filed online in Annexure-2A with the Annexure-2B filed by the selling dealers - overlap of the period for which notices were issued - principle of natural justice - Held that:- The impugned order of default assessment dated 13th January, 2015 under Section 32 of the DVAT Act in respect of the Petitioner for the tax period pertaining to the fourth quarter of 2.....
2016 (2) TMI 282 - KARNATAKA HIGH COURT
Centum Electronics Limited Versus State of Karnataka
VAT and Sales Tax: Doctrine of promissory estoppel - Continuity of exemption after migration from sales tax regime to VAT regime - tax holiday of ten years - KST to KVAT - exemption from CST - Information Technology Policy of the State Government - It is true that in the notification dated 21.8.1997 issued under the KST Act, there was a specific condition that if the Unit (exercising the option for tax exemption) collects any tax, it shall become ineligible for t.....
2016 (2) TMI 281 - GUJARAT HIGH COURT
M/s MAHESH ELECTRONICS Versus ASSISTANT COMMISSIONER OF COMMERCIAL TAXES AND 1
VAT and Sales Tax: Challenge to the recovery notice - order of attachment - sale of goods without billing came to light during raid at godowns - Held that:- When the investigation is yet not completed and assessment to be made at a later point of time, it would not be appropriate on our part to make any conclusive observations with respect to the rival contentions. In view of the prima facie materials at the command of the department, it is not possible to direct l.....
2016 (2) TMI 245 - PUNJAB AND HARYANA HIGH COURT
Punjab State Power Corporation Limited Versus The State of Punjab and others
VAT and Sales Tax: Waiver of pre-deposit - power of appellte authority under PVAT to grant interim injunction / protection - Valuation - inclusion of receipts of charges from the customers as meter rent - the receipts of charges from the customers as service line rental had been brought to tax while treating these as meter rent - Activities in respect of generation, distribution and supply of electric energy/electricity power and other allied material to the consum.....
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2016 (2) TMI 386 - RAJASTHAN HIGH COURT
Kotak Mahindra Bank Limited Versus Hari Ugam Marketing and Distribution Company Pvt. Limited
Corporate Laws: Winding up petition - Held that:- It is prima facie evident that the respondent company has neglected to pay its due debt to the petitioner Bank despite its obligation and notice, and therefore per se is deemed to be insolvent.
The petition is accordingly, admitted. The citation of the winding up petition being admitted be published by the petitioner in two news papers i.e. The Times of India (English) and Dainik Bhaskar (Hindi) Jaipur Edition.....
2016 (2) TMI 354 - GUJARAT HIGH COURT
IN RE : DIAVETRA LIFESCIENCES PRIVATE LIMITED
Corporate Laws: Scheme of Arrangement would be in the interest of the shareholders and creditors of all the companies, as well as in the public interest. The same, therefore, deserves to be sanctioned.
2016 (2) TMI 317 - PUNJAB AND HARYANA HIGH COURT
In Re : Q.H. Talbros Ltd.
Corporate Laws: Seeking approval of a scheme of arrangement under Sections 391 to 394 of the Companies Act, 1956 - learned Single Judge dismissed the petition - Held that:- It is on account of error that the learned Judge also observed that after implementation of the first part of the scheme, the shareholding pattern, the business and the profits etc. of the transferor and transferee companies will undergo change and that those figures and particulars are req.....
2016 (2) TMI 280 - GUJARAT HIGH COURT
IN RE : RANJEET ELECTRIC PRIVATE LIMITED
Corporate Laws: Scheme of Amalgamation - Scheme of arrangement is in the interest of the shareholders and creditors of all the companies as well as in the public interest, therefore, the same deserves to be sanctioned.
It is, however, directed that the petitioners shall preserve their books of Accounts, papers and records and shall not dispose of the records without the prior permission of the Central Government under Section 396A of the Companies Act, 1956......
2016 (2) TMI 279 - GUJARAT HIGH COURT
IN RE : URMIN MARKETING PRIVATE LIMITED
Corporate Laws: Scheme of Amalgamation - Held that:- Taking into account the contentions raised in the affidavits and counter affidavits and the judgment cited at the Bar, this Court is satisfied that the observations made by the Regional Director, Ministry of Corporate Affairs no longer survive. This Court is of the view that the present Scheme of Arrangement is in the interest of the shareholders and creditors of all the companies as well as in the public int.....
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2016 (1) TMI 183 - APPELLATE TRIBUNAL FOR FOREIGN EXCHANGE, NEW DELHI
Sun Star Future Wood Ltd. Versus Special Director of Enforcement
FEMA: Importers who had acquired foreign exchange from their authorized dealers for the purpose of imports of specified goods but had failed to submit the Exchange Control copy of Bill of Entry in respect of the relevant imports to their authorized dealers - It has been contended on behalf of the appellant that an amount of ₹ 410,550 US $ was remitted by IDBI by opening L/C (Letter of Credit). The goods were shipped by the foreign seller and arri.....
2015 (12) TMI 1294 - DELHI HIGH COURT
ARVIND KHANNA Versus CENTRAL BUREAU OF INVESTIGATION
FEMA: Violation of Section 23 (1) read with Section 4 (1) FCRA, 1976 - Petitioner received funds without obtaining prior permission of the Central Government - Held that:- Foreign entities through whom such funds were sent were holding the same on behalf of his father. To this effect, Mr. Vipin Khanna made a statement dated 11.07.2006, whereby stated that these funds were sent on his instructions to the petitioner. Moreover, vide statement dated 13.04......
2015 (12) TMI 1245 - DELHI HIGH COURT
Manohar Lal Sharma Versus Union of India & Others
FEMA: Power of court to review and supervise the investigations against the political party - investigations under Foreign Contribution (Regulation) Act, 2010 (FCRA) - Held that:- Undoubtedly the Courts, in exercise of their power of judicial review, are entitled to direct investigation into an offence alleged to have taken place, as reiterated by the Constitution Bench in State of West Bengal Vs. Committee for Protection of Democratic Rights West Be.....
2015 (12) TMI 1192 - SUPREME COURT OF INDIA
Choith Nanikram Harchandani and Bittu Choith Harchandani Versus State of Maharashtra & Ors.
FEMA: Validity of detention order - Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974 (COFEPOSA) - Held that:- Since the Detaining Authority was represented by the officers at the time of hearing of the petitioner's case before the Advisory Board, the petitioner too was entitled to be represented through legal practitioner. Since no such opportunity was afforded to the petitioner though claimed by him, he was denied an .....
2015 (11) TMI 192 - SIKKIM HIGH COURT
Eastern Institute For Integrated Learning In Management University Through Its Acting Vice Chancellor, Shri R.P. Sharma Versus The Joint Director Directorate of Enforcement, The Enforcement Officer Directorate of Enforcement, The Registrar/Administrative Officer Adjudicating Authority
FEMA: Offences under the Prevention of Money-Laundering Act, 2002 corresponding to Sections 420/467/ 120B of the Indian Penal Code - Held that:- Case has been registered in the Court of the Chief Judicial Magistrate, South and West at Namchi, against 11 (eleven) persons connected with the Petitioner-University in various capacities based on a charge-sheet submitted by the Sikkim Police for offences under Sections 420/467/471/ 201/120B IPC. - On a caref.....
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2016 (2) TMI 416 - SUPREME COURT
Bhadresh Bipinbhai Sheth Versus State of Gujarat & Another
Allied Laws: Anticipatory bail granted to the appellant by the Additional Sessions Judge, Court No.16 of Ahmedabad City Sessions Court challenged - Held that:- As no purpose would be served in compelling the appellant to go behind bars, as an undertrial, by refusing the anticipatory bail in respect of alleged incident which is 17 years old and for which the charge is framed only in the year 2014. The investigation is complete and there is no allegation that .....
2016 (2) TMI 241 - DELHI HIGH COURT
Lydia Ninglianting, Sheikh Dilshad Versus Directorate of Revenue Intelligence, State
Allied Laws: Conviction for Carrying narcotics drug in their baggage while travelling from Jallandhar to Delhi - The charge for offence under Section 21(C) read with Section 8(C) as well as under Section 29 of NDPS Act was framed against both the accused to which they pleaded not guilty and claimed trial.
In the instant case, the statement under Section 67 of the Act was written by the appellant - Lydia Ninglianting in her own handwriting while that of the.....
2016 (2) TMI 203 - BOMBAY HIGH COURT
Farida Imram Chamundi Versus The State of Maharashtra, VS Singh, The Commissioner of Customs, The Superintendent of Prison, The Union of India
Allied Laws: Validity of detention under the Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974 (“COFEPOSA" for short) - delay in passing the detention order - Held that:- On the ground of delay, we are satisfied that the order of detention is vitiated by an enormous and unexplained delay. This Court and the Hon’ble Supreme Court on a number of occasions have criticized the approach of the Sponsoring Authorities and especially .....
2016 (2) TMI 175 - GUJARAT HIGH COURT
KALYAN JANTA SAHAKARI BANK LTD VESUS STATE OF GUJARAT AND 1
Allied Laws: Constitutionality of Sardar Sarovar Narmada Nigam Limited (Conferment of Powers to Redeem Bonds) Act, 2008 - Held that:- The impugned Sardar Sarovar Narmada Nigam Limited (Conferment of Power to Redeem Bonds) Act, 2008 does not fall within the legislative head or legislative field either under Entry 43 in the State List being ‘Public Debt of the State’ or under Entry 20 in the Concurrent List being ‘Economic and Social Planning’, to the Seventh S.....
2016 (2) TMI 132 - SUPREME COURT OF INDIA
M/s MADRAS PETROCHEM LTD. AND ANR. Versus BIFR & ORS.
Allied Laws: Interplay between the Sick Industrial Companies (Special Provisions) Act, 1985 and the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 - Whether the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 prevails over the Sick Industrial Companies (Special Provisions) Act, 1985? - Whether the expression “where a reference is pending” in Section 15 .....
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