-
2011 (11) TMI 888
... ... ... ... ..... med Khan, (2010) 9 SCC 496, in administrative as well as quasi judicial orders is a requirement for both accountability and transparency. It is important for sustaining faith in the justice delivery system. It also operates as a valid restraint for any possibility of arbitrariness by decision maker and facilitates the process of judicial review by Superior Courts. We find that the impugned order without giving any reasons on which reply of the petitioner was not found satisfactory is arbitrary and is liable to be set aside....... + More
-
2011 (11) TMI 887
... ... ... ... ..... t the very same payment is royalty in the hands of payee. We jettison the viewpoint of the Revenue on this score as well. 20. In view of the foregoing reasons we are satisfied that the learned CIT(A) was not justified in holding that the amount collected by the assessee towards the intellectual property be assessed as royalty. The impugned order on this issue is, therefore, overturned and it is held that the entire amount of 58.29 lakh be considered as business profits. The learned CIT(A) has recorded a categorical finding....... + More
-
2011 (11) TMI 886
... ... ... ... ..... n discussed wherein identical ratio was laid down. The decision in Gorakhpur Kshetriya Gramin Bank (292 ITR 205) (All) also held identically. Therefore, respectfully following the same, we do not find any infirmity in the order of the ld. CIT(A) especially when the interest income on fixed deposits and saving bank account is very much part of banking activity/business of the assessee. The ratio laid down in the case of CIT vs. Ratnagiri District Central Co-operative Bank Ltd. (254 ITR 697) (Bom) further supports the case o....... + More
-
2011 (11) TMI 885
... ...
... ... ..... RDER Delay condoned. Appeals are admitted.
-
2011 (11) TMI 884
... ... ... ... ..... the order of authorities below. It is pertinent to note that in the impugned order the ld.CIT(A) has merely followed the decision of the ITAT in assessee s own case for assessment year 2006-07 order dated 23-09-2010 in ITA No. 793/RJT/2010. The facts in the assessment year under appeal are identical to assessment year 2006-07. In the assessment year 2006-07 also the Central Excise duty of Rs. 80,88,026 and sales-tax incentive of Rs. 3,57,05,815 were claimed as exempt during the course of assessment proceedings by way of le....... + More
-
2011 (11) TMI 883
... ... ... ... ..... this stage by reserving liberty to the Petitioners to produce such certificate in the Trial Court and leaving it open to the Trial Court to consider legal effect of such a certificate on the maintainability or otherwise of the Suit after permitting the parties to lead appropriate evidence. 22. Mr. Khambata submits that since Union of India has been allowed to intervene in the present proceedings, I should direct the Trial Court to permit the Union of India to intervene. Mr. Thorat opposes such request. In my opinion, wheth....... + More
-
2011 (11) TMI 882
... ...
... ... ..... KR. PRASAD ORDER Appeal dismissed.
-
2011 (11) TMI 881
... ... ... ... ..... manufactured and sold by them does not entitle the appellant to claim CENVAT credit at all, shall remain stayed, if the appellant is otherwise entitled to CENVAT credit in respect of the said items in law. SLP (C) No. 12855-12856 of 2011 Delay condoned in SLP(C) No. 12855-12856/2011. Leave granted. The appeal will be heard on the SLP paper book. Additional documents, if any, may be filed by the parties. Tag with appeal arising out of SLP (C) 34310-34311/2010.
-
2011 (11) TMI 880
... ... ... ... ..... f power under Article 142 and declare the acquisition of the Appellants' land bad although the acquisition proceedings have been completed in accordance with law. 32. Lastly, the learned senior counsel invited our attention to the application (I.A. No. 4) wherein the Appellants offered for amicable settlement by expressing their readiness and willingness to give an area of land admeasuring 13250 square feet out of the total land of 1.45 acres (i.e. 1 acre and 19445 sq. ft.) free of cost to the Corporation. The offer is....... + More
-
2011 (11) TMI 879
... ... ... ... ..... ond reasonable doubt that accused issued cheque in question to the complainant towards discharge of legally enforceable debt/liability and hence, it is further apparently clear that complainant has failed to discharge the said burden beyond reasonable doubt, which was rebutted as mentioned herein above and therefore, learned trial court acquitted the accused rightly for the offence punishable under section 138 of N.I.Act. 26. In the circumstances, after scrutinizing and analyzing the evidence on record, the view adopted by....... + More
-
2011 (11) TMI 878
... ... ... ... ..... it is stated that there have been subsequent developments in the matter as stated therein whereby the Respondent had not appointed their Director on Board and had not exercised any such power and they had already sold their stake in the Target Company and had retained only about six per cent shareholding of the Target Company. 3. Further, it was....2/- also informed that a company by name of M/s. Welspun had already acquired majority stake in the Target Company and the said M/s. Welspun had also taken control of the Target....... + More
-
2011 (11) TMI 877
... ... ... ... ..... ly member. 27. It is no doubt true that in the gift deed Ex.DW-1/B there is a condition that the defendant No. 1 could not sell the same without the consent of her husband, but we have proof through Ex.DW-1/D that husband of defendant No. 1 gave the necessary consent and qua the challenge to his mental condition to do so, except for making self-serving statements, the plaintiff and his witnesses could take the case no further. Be that as it may, assuming the sale deed, which we note has been executed by defendant No. 1 in ....... + More
-
2011 (11) TMI 876
... ... ... ... ..... refore, the assessing authority was not justified in excluding those expenditure from the computation of the cost of asset while granting depreciation allowance. The Commissioner of Income-tax(Appeals) has granted the relief, which is rightful in law. The order of the Commissioner of Income-tax(Appeals) on this point is upheld. 7. The grounds raised by the Revenue in both the appeals are the same and, therefore, the above findings are applicable to both the appeals under consideration. 8. The assessee has filed cross objec....... + More
-
2011 (11) TMI 875
... ... ... ... ..... s to be paid 75% of the salary by way of Subsistence Allowance. In this case, the respondent has been kept under prolonged suspension for a period of nearly 5 years with salary in the form of Subsistence Allowance without extracting any work from him, which is nothing but wasting of Government money. On the other hand, applying Rule 3(e)(5) of the Rules, pending trial of the Criminal Case, the suspension of the respondent shall be revoked and as rightly held by the learned single Judge, he can be posted in a far away place....... + More
-
2011 (11) TMI 874
... ... ... ... ..... deletion of addition of interest paid on the alleged bogus loan as well as commission paid on alleged bogus loan. We have accepted that it is not a bogus loan and it is for the business as we have already decided the issue of addition on account of alleged bogus loan against the Department and in favour of assessee. This interest which was paid on the above loan and the commission paid on the alleged loan which are of consequent in nature and has to be decided in favour of the assessee and against the Department. Therefore....... + More
-
2011 (11) TMI 873
... ... ... ... ..... ing in some other way, the Respondent-Police have a right to enter the premises of the Petitioner's association, inspect and take further action as per law; c. In respect of the FIR registered by the Respondent-Police against those 56 persons and others who said to have indulged in illegal gambling activities as per the raid conducted on 10.8.2011, it is open to the Respondent-Police to proceed further as per law and it is for the Petitioner's association, its members and their guests to defend the same in the mann....... + More
-
2011 (11) TMI 872
... ... ... ... ..... veyors are not public servants within the meaning of Section 2(c) of the Prevention of Corruption Act, 1988. The licenced surveyors are not mere contractors bound by their engagements. They are definitely bound by the terms of their office as licenced surveyors. 5(c). For the aforementioned reasons, we hold that the licensed surveyors appointed under Section 18-A of the Karnataka Land Revenue Act, 1964 are the public servants as defined under Section 2(c) of the Prevention of Corruption Act, 1988. Hence, the dictum laid do....... + More
-
2011 (11) TMI 871
... ... ... ... ..... oner of Income Tax (Appeals) at the time of appellate proceedings and on the basis of which appeal was allowed. Against the said order of the Hon ble High Court, the department has gone before the Hon ble Supreme Court as may be perused from the department s grounds of appeal. In my respectful prayer, this not a valid ground for rejecting the said exemption u/s 10(23C)(vi) of the Income Tax Act, 1961, which has already been approved by Ld. CCIT as on date. Therefore, the appeal of the department may kindly be directed to b....... + More
-
2011 (11) TMI 870
... ... ... ... ..... of ₹. 2,17,49,200/-, 42% being ₹.91,34,664/- is sustained as income in the hands of the assessee and the assessee was granted relief of ₹. 1,26,14,536/-. 6.1 Considering the complete details furnished before the authorities below, we are of the considered opinion that the ld. CIT(A) has estimated and adopted the effective interest rate at an higher side. Accordingly, we direct the Assessing Officer to adopt 50% of effective interest rate i.e., 26% (52x0.5) of gross cash deposited shall be considered as in....... + More
-
2011 (11) TMI 869
... ... ... ... ..... emicals (1994) 210 ITR 830 observed that the provisions of section 43(1) will not apply in this case and deleted the addition made by the A.O. 4. We have heard the rival contentions and perused the facts of the case. We concur with the views of the ld. CIT(A) that the ratio of judgement of Hon ble Supreme Court in the case of P.J. Chemicals (supra) is applicable in the facts of the present case and therefore, provisions of 43(1) will not be applicable and the A.O. is not justified to reduce the capital subsidy and hence th....... + More
