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Showing 1 to 20 of 147263 Records


    Vivek Vijay Gupta Versus Steel Konnect (India) Pvt. Ltd., M/s. Steel Konnect India Pvt. Ltd., M/s. Hero Fincorp Limited, Shri R.D. Chaudhary, Rare Asst Reconstruction Company, Bank of India And State Bank of India

    Corporate Insolvency Resolution Process - Duties of resolution professional - non-compliance of the requirements of the Code - Held that - Non-issuance of the notice of the Meeting of the COC held on 4.1.2018 to the Resolution Applicant in this case is not fatal which requires interference of this Adjudicating Authority with the decision of the COC. - Here, the COC rejected the Resolution Plan not on the ground that it is not a viable Resolution ....... + More


    Krishna Kraftex Pvt. Ltd. Versus HDFC Bank & Ors.

    Corporate insolvency process - satisfaction of default - Held that - The case is remitted back to the Adjudicating Authority (National Company Law Tribunal), New Delhi to admit the application under Section 10 after notice to the parties if there is no defect. In case of any defect, appellant be allowed time to remove the defects. The appeal is allowed with the aforesaid observations. See M/s. Unigreen Global Private Limited vs. Punjab National B....... + More

  • 2018 (2) TMI 1212 - ITAT AHMEDABAD

    Smt. Kantaben Ramjibhai Chaudhari C/o. Jay Prabhu Seeds & Ginning Factory Versus ITO, Ward-2 Gandhinagar

    Rejection of books of accounts - profit estimation - Held that - Income has to be computed in accordance with the method of accountancy followed by an Assessee i.e. cash or mercantile, such method has to be followed keeping in view the Accounting Standard notified by the Central Government from time to time. Sub clause 3 provides a situation, that is, if the Assessing Officer is unable to deduce the true income. On the basis of method of accounta....... + More

  • 2018 (2) TMI 1211 - ITAT AMRITSAR

    M/s. Raga Motors P. Ltd. Versus Deputy CIT, Circle-IV, Jalandhar

    Disallowance of commission expenses - Held that - A customer intending to purchase a vehicle would visit an auto dealer directly, and on the basis of discussions, including demonstration, as well as other relevant factors, viz. past experience, reputation of the manufacturer, etc., take a decision, also co-opting the information gathered from other such dealers of the same or different manufacturers, i.e., as per his needs and budget. Why, then, ....... + More

  • 2018 (2) TMI 1210 - ITAT DELHI

    DCIT, Circle-4 (2) , New Delhi Versus M/s. Bestexx MM India Pvt. Ltd.

    Transfer pricing adjustment - assessee s payment of royalty to its AE - MAM selection - ALP determination - Held that - The assessee s payment of royalty to its AE was justified by using the external CUP, that is, by placing catena of comparable uncontrolled transaction of the third parties. TPO without actually carrying out any analysis of the comparables during the remand proceedings or assigning any basis had simply held that royalty should be....... + More

  • 2018 (2) TMI 1209 - ITAT MUMBAI

    Ashok Keshavlal Tejuja Versus ACIT, CIR 18 (1) , Mumbai

    Deduction u/s 54F - new residential flat is situated outside India and hence deduction u/s 54F is not available - Held that - There is an amendment by Finance Act 2014 in Section 54F, with effect from 01.04.2015 wherein the benefit of deduction u/s 54F will be allowed only when reinvestment in residential house property is made within India. Prior to the aforesaid amendment , there was no bar for the taxpayer making investments outside India in r....... + More

  • 2018 (2) TMI 1208 - ITAT KOLKATA

    Arunashis Sarkar Versus Income Tax Officer And Vice-Versa

    Validity of return - assessee submitted return subsequently filed by the assessee on 26.05.2011 was an invalid return and the A.O. was not justified in making the assessment on the said return by treating it as revised return - Held that - We find merit in this contention of the learned counsel for the assessee and since the learned DR has also not raised any objection in this regard, we set aside the impugned order passed by the Ld. CIT(A) and r....... + More

  • 2018 (2) TMI 1207 - ITAT CHENNAI

    M/s. PNN Steel Pvt. Ltd. Versus The Income Tax Officer, Corporate Ward-5 (2) , Chennai

    Unexplained cash credit u/s.68 - proof of the claim of the share application money received - Held that - Perusal of the bank accounts shows that in all the cases, transactions are with identical companies, from where, the money is coming and it is received either on the same day or immediately previous day to the date of transfer of the funds through RTGS. Admittedly, these evidences need to be examined in detail. This being so, the issues in th....... + More

  • 2018 (2) TMI 1206 - ITAT DELHI

    M/s D.S. Realtors Pvt. Ltd. C/o RRA Taxindia, New Delhi Versus DCIT, Central Circle-04, New Delhi

    Assessment u/s 153A - disallowance u/s. 40A(3) - Held that - Since assessee has not claimed any expenditure, therefore, no disallowance can be made during the year under consideration. See M/s Galaxy Dwellers (P) Ltd. vs. DCIT 2017 (11) TMI 112 - ITAT DELHI . - Hon ble Punjab & Haryana High Court in the case of Gurdas Garg vs. CIT (2015 (8) TMI 569 - PUNJAB & HARYANA HIGH COURT) has held that where genuineness of transactions made in cash....... + More

  • 2018 (2) TMI 1205 - ITAT LUCKNOW

    M/s Agrahari Builders Pvt. Ltd. Versus Dy. C.I.T., Range-VI, Kanpur

    Penalty u/s 271(1)(c) - depreciation claim - Held that - Assessee had filed complete particulars with respect to assets on which depreciation was claimed. The assessee has also filed chart of fixed assets placed at page No. 3 of the paper book showing claim of the said depreciation. From the above documents itself, the Assessing Officer has observed that the assessee has claimed depreciation to the extent of ₹ 2,57,677/- and therefore, it c....... + More

  • 2018 (2) TMI 1204 - ITAT KOLKATA

    M/s Beatle Trading (P) Ltd. Versus Pr. CIT-4, Kolkata

    Revision u/s 263 - addition towards share capital and share premium u/s 68 - Held that - Admittedly, the assessee had not appeared before the Ld. CIT despite repeated opportunities. From the Affidavit filed by the Ld. AR before us, we find that the assessee had been dependent on one Chartered Accountant who has been given the brief to handle the income tax affairs before the Ld. CIT and who in turn had not represented the assessee before the CIT ....... + More

  • 2018 (2) TMI 1203 - ITAT JAIPUR

    Shri Satya Narain Gupta Versus The DCIT, Central Circle-2, Jaipur

    Penalty u/s 271(1)(c) - undisclosed investment - return of income furnished after the date of search - Held that - The undisclosed income was detected/discovered in the form of investment in he property and therefore the assessee was found to be owner of assets value of which was not disclosed and consequently it falls in clause (i) to explanation 5A to section 271 (1)(c). - There is no dispute that assessee admitted the acquisition of property b....... + More

  • 2018 (2) TMI 1202 - ITAT AHMEDABAD

    ITO Ward-8 (3) Ahmedabad Versus Shantisuri Securities Pvt. Ltd.

    Validity of proceedings invoked u/s 153C - no satisfaction note was recorded - notice without sanction of law - Held that - AO of searched person, as a jurisdictional requirement, must record his satisfaction that incriminating material found as a result of search belongs to assessee herein. In this regard, we take note of the plea of the assessee that no satisfaction note has been found recorded by the AO of the searched person to show that any ....... + More

  • 2018 (2) TMI 1201 - ITAT MUMBAI

    Income Tax Officer 1 (1) (1) Aaykar Bhavan Mumbai Versus Benite Steels Limited

    Bogus purchases - profit estimation - Held that - The assessee has failed to discharge the primary onus of proving the purchases as it could not produce sufficient evidences to show actual delivery of material and also could not produce confirmatory letters from the alleged bogus suppliers and thus failed to substantiate the purchases. The assessee is a trader and there could be no sales without purchases. - Addition, which could be made, was to ....... + More

  • 2018 (2) TMI 1197 - CESTAT KOLKATA

    Smt. Sahana Khatun, Md. Aftab Ahmed., Sh. Rajesh Gupta, Sh. Prabir Kumar Thakur, Sh. Bikash Pal B Versus Commissioner of Customs, Central Excise & S. Tax, Patna

    Confiscation of seized Betel Nuts - smuggling - Held that - the appellant had not refuted the allegations against them except that the goods are non-notified items - the quantum of redemption fine and penalty are excessive - the fine and penalties imposed on the appellants are reduced to 50 of the amount as ordered - appeal allowed in part........ + More

  • 2018 (2) TMI 1196 - CESTAT HYDERABAD

    CC, Vijayawada Versus Foods, Fats And Fertilizers Ltd.

    Classification of imported goods - Palm Stearin - Adjudicating authority vide speaking order classified the goods imported under chapter 38.23 as against the claim of the Respondent before him being covered under chapter 15.11 - Held that - the issue is now covered by the decision of Hon ble Apex Court in the case of Commissioner of Central Excise, Customs & Service Tax Visakhapatnam vs. Jocil Ltd 2010 (12) TMI 24 - Supreme Court of India , w....... + More

  • 2018 (2) TMI 1195 - CESTAT NEW DELHI

    CC, New Delhi Versus M/s Tag Overseas

    Scope of SCN - classification of imported goods - Held that - In the SCN the revenue sought classification under CTH 44219019 whereas in the appeal the revenue now want to change the classification to CTH 44219090 which is beyond the scope of the SCN - appeal not maintainable as beyond the scope of SCN - Appeal dismissed........ + More

  • 2018 (2) TMI 1194 - CESTAT MUMBAI

    Electromedicals, Indore Versus Commissioner of Customs, Mumbai

    Benefit of N/N. 21/2002-Cus dated 01.03.2002 - inport of D.C. Defibrillators for Internal use & Pacemakers - Revenue says that internal use means the Defibrillator is required to be used internally - Appellant explains that the equipment cannot be used in the body of a patient. - Held that - Revenue has no evidence to show that D.C. Defibrillators is required to be used in the heart but not in the Operation Theatre. When Revenue fails to lead....... + More

  • 2018 (2) TMI 1187 - CESTAT NEW DELHI

    M/s Mahanagar Telephone Nigam Limited Versus CCE, New Delhi

    CENVAT credit - denial on the ground that they have not filed proper ST-3 return for the relevant period - Held that - Admittedly the impugned order proceeded in a summary manner to deny the credit by simply recording that the services are not covered under the definition of input services and, hence, they are allowed for credit. Even, a plain perusal of the various input services like security services, electrical works, repair and maintenance, ....... + More

  • 2018 (2) TMI 1186 - CESTAT NEW DELHI

    CCE, Jaipur Versus M/s Rajasthan Cricket Association And Vice-Versa

    Club or association service - the affiliation fee and the membership fee received from district level academy members of the assessee/appellant - Held that - There can be no service and tax liability in such arrangement of members availing certain facilities provided by association of such members forming into a club - the demand of service tax under club or association service and also penalties relatable to such tax liability. - Irrespective of....... + More

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