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Case Laws
Showing 461 to 480 of 712 Records
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2008 (3) TMI 254
Addition on account of investment in FDRs - undisclosed income – CIT (A) upheld the additions as assessee not appeared despite many adjournments – Tribunal dismissed the appeal of the appellant as infructuous and remanded matter to AO to frame the assessment de novo – appellant’s contention that order of the Tribunal is in divergence to the rules of judicial consistency as proceedings have already become time barred, is not acceptable - no prejudice has been caused to the appellant
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2008 (3) TMI 253
Omission of the assessee to claim deduction on account of payment of the salary to its employees in the income tax return or during the assessment - appellant filed application u/s 154 claiming that omission to claim the expenditure was a mistake apparent from record- assessee failed to show that all the material required for satisfying the conditions requisite for the grant of relief u/s 84, was completed - therefore, it cannot be said that Officer committed a mistake apparent from the record
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2008 (3) TMI 252
Whether the order of the ITAT is perverse as the ITAT has failed to appreciate the fact that the CIT(A) restricted the food cost ratio to 55 % only on conjectures and surmises and without any evidence, whereas the Assessing Officer had based its order on the basis of results of 16 hotels/restaurants – similar question of law on similar facts was raised by the Revenue has been dismissed by this Court in similar matter – hence no question of law arises in this appeal for our determination
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2008 (3) TMI 251
Whether ITAT is right in reducing the G.P. rate from 16.16% to 12.94% ignoring the Section 132(4A) - while taking into consideration the goods returned by the assessee and it was observed that if the said amount is reduced then the GP rate would come to 12.94% - CIT (A) was justified in holding the deposits in the bank accounts as sale proceeds - CIT (A) was justified in applying GP @ 12.94% in respect of unrecorded sales – order of ITAT is justified - revenue appeal dismissed
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2008 (3) TMI 250
Whether on the facts and circumstances of the case, ITAT is right in holding that if the litigation was pending before a Court and had not attained finality, interest would not accrue and could be subjected to tax only when it was finally determined - appeals of the revenue raising the similar question of law as raised in this appeal have already been dismissed by this Court in similar judgment - In the light of the above fact, no substantial question of law survives
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2008 (3) TMI 249
AO framed the assessment u/s 143 (3) by making an addition on the ground that the appellant has failed to prove the credit worthiness of the creditors & the genuineness of the transactions of loan & investments – assessee has though established the identity of creditors by producing their affidavits but not proved capacity of the creditor to advance the money & also the genuineness of the transaction - Since the authorities have recorded a pure finding of fact, assessee’s appeal is dismissed
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2008 (3) TMI 248
Whether ITAT was right in deleting the disallowance made on account of bad debts written off, though assessee failed to furnish evidences of debts becoming bad - Learned counsel for the appellant has very fairly stated that the aforesaid identical questions have already been decided by this Court against the revenue in 2008 -[TMI - 31087 - PUNJAB AND HARYANA HIGH COURT] titled as Commissioner of Income Tax, Faridabad vs. M/s Septu India (P) Ltd., Begumpur, Khatola, Gurgaon decided on 6.2.2008 - no substantial question of law survives - this revenue’s appeal is without any merit and the same is dismissed
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2008 (3) TMI 247
CIT passed order u/s 263(1) directing AO not to ignore loss on export of trading goods while computing deduction u/s 80HHC - two views were possible - since the view expressed by AO was a possible view, CIT was not justified in exercising powers u/s 263 - where two views are possible or the IT Officer has taken one view with which the Commissioner does not agree, it cannot be treated as an erroneous order prejudicial to the interests of the revenue – ITAT was justified in rejecting CIT order
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2008 (3) TMI 246
Assessee is a company incorporated on March 31, 1994, with the main object of acquiring business of a firm with all its assets and liabilities - said firm was dissolved on April 5, 1995, w.e.f. March 31, 1994, and the partners were allotted equity shares in the company - assessment order for the A.Y 1990-91 to 1994-95 in respect of the partnership firm has been passed on the appellant-company – assessment orders are not valid because company was not at all in existence during those years
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2008 (3) TMI 245
Mere transportation of materials cannot come under Cargo Handling Services - Steamer Agents had already included the Service Tax in their bills raised to appellants - so, there is no question of payment of Service Tax again - services rendered by the appellant to foreign ship owners by way of identifying & procuring the services of Steamer Agents, CHA, Stevedores for ships is covered under Business Auxiliary Service, not under Steamer Agent Services as wrongly held in the impugned order
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2008 (3) TMI 244
Delay in payment of tax - appellants are filing the returns regularly – entire tax with interest deposited before issue of SCN - finding of the Adjudicating Authority is reasonable and has rightly dropped the penalty under Section 80 - Accordingly, the impugned revisionary order of Commissioner of imposition of penalty u/s 76 is set aside and the order of the Adjudicating Authority is restored
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2008 (3) TMI 243
Royalty charges collected from M/s. Air India for ground handling, exchange facilities etc. & Licence fee on Advertising, Cargo Agents building, Car park, for garbage disposal etc. - Submission of appellant is that amended section will not bring above activities under the category of ‘Airport services’, as contended by revenue – in view of stay order given in assessee’s own case, pre-deposit of Rs. 10 lakh against demand of around Rs. 74 lakh is ordered - stay partly granted
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2008 (3) TMI 242
Appellants are required to pre-deposit penalty - allegation against the appellants are that they have utilized the services of foreign consultants for getting Food Drugs Authority (FDA) approval to sell their products in American markets and also the services relating to patent approval in USA the U.S. Patent Act - appellants have deposited the Service Tax, penalty and interest under protest, therefore, the stay application is rejected as infructuous
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2008 (3) TMI 241
Applicant paying tax on GTA service as deemed service provider - SCN was issued to deny the abatement of 25% as the concession was available only to the goods transport agency and not to the recipient – commissioner directed appellant to pay tax without availing abatement holding the person paying tax is not relevant - decision of the Commissioner is, prima facie, contrary to the clear proposal in the SCN - waiver and stay of recovery of dues given
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2008 (3) TMI 240
Appellant, job-worker, charitable-society - during the period from 01.04.2004 to 23.04.2004, appellant cleared goods bearing the brand name of other – appellant plea is that they stopped using the brand name after getting instruction from principal - SCN demands duty on clearances which did not bear any brand name on them - demand on other products should be limited only for the period from 01.04.2004 to 23.04.2004 – since appellant is charitable society, penalty is not justified
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2008 (3) TMI 239
Original, authority, denying deemed credit on inputs received from the depot of the manufacturer – under Notification No. 29/2000, deemed input credit is extended on specified iron and steel goods subject to conditions, that the inputs are received from the factory of the manufacturer directly – since in the present case inputs were received from manufacturer’s depot, not directly from manufacturer’s factory, benefit of notification is not allowable
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2008 (3) TMI 238
Revenue plea is to keep appeal pending on ground of pendency of referred issue before HC - revenue plea is not acceptable because HC cannot stay operation of tribunal’s order out of which the question was referred – in respect of final product (fabrics) cleared on payment of duty to 100% EOU for export, utilization of deemed credit on declared inputs (cotton yarn) is allowable in view of notification no. 6/2002 – revenue’s appeal dismissed
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2008 (3) TMI 237
Sub-letting of license by CHA - CHA allowed their license to be used by other person against monetary consideration – Revenue plea that it amounts to contravention of the Customs Act, is not acceptable - at best the provisions of Custom House Agents License Regulations (CHALR), 1984 would be applicable, not the provisions of Custom Act – hence impugned order imposing penalty under Section 117 of the Customs Act, 1962 is unsustainable and liable to be set aside
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2008 (3) TMI 236
Bona fide belief that activity of manufacturing Wooden crates, doesn’t amounts to “manufacture” – entire duty has since been paid - in the absence of any material showing any positive intention to evade duty or fraud, collusion, etc., imposition of penalty was not justified - Delay in filing appeal because of negligence of the lawyer - it will not be fair to dismiss the appeal at the threshold on the ground of limitation – delay condoned
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2008 (3) TMI 235
Transportation through pipeline can neither be treated as “clearing and forwarding agent’s service” nor “business auxiliary service - From 16.6.05 incorporating sub-clause (zzz) to Section 65 (105) of Finance Act, 1994, transport of crude oil through pipeline was brought to ambit of tax – in view of above enactment and Circular BI/6/2005-TRU dated 27.7.05 impugned order is set aside – assessee’s appeal allowed
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