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2017 (2) TMI 1549
Validity of additions based on valuation report - Non rejection of books of account before referring to the D.V.O. u/s 142A - HELD THAT:- Question raised in these appeals Shri Udai Chand Chaurasia Shri Ram Road Lucknow [ 2017 (1) TMI 1832 - ALLAHABAD HIGH COURT] as relying on Sargam Cinema [ 2009 (10) TMI 569 - SC ORDER] wherein held matter could not refer to the Departmental Valuation Officer without the books of account being rejected. Decided in favour of assessee.
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2017 (2) TMI 1548
Doctrine of separation of powers - Seeking amendment in the provisions of Section 118 of the H.P. Tenancy and Land Reforms Act, 1972 within a period of ninety days - State Government is aggrieved by the mandamus which has been issued by the High Court to amend the provisions of law - HELD THAT:- The grievance has a sound constitutional foundation. The High Court has while issuing the above directions acted in a manner contrary to settled limitations on the power of judicial review under Article 226 of the Constitution. A direction, it is well ....... + More
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2017 (2) TMI 1547
Depreciation on toll road - HELD THAT:- It is noted that since in the appeal filed against the original assessment order, Hon'ble High Court has held vide its judgement [ 2016 (4) TMI 1184 - BOMBAY HIGH COURT] that claim of depreciation is not allowable to the assessee, the same decision would be applicable upon the issue raised by the Revenue before us. Once Hon'ble High Court has taken a view that depreciation is not allowable, the issue before us stands covered against the assessee. Cross objection - appellant prays that the entire ....... + More
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2017 (2) TMI 1546
Granting payment of revised rates to take care of escalated cost of work executed by the claimant and the work executed beyond the originally stipulated time - whether the quantification of the escalation costs/damages by the arbitrator is arbitrary and contrary to the evidence? - HELD THAT:- Waiting for handing over of site to construct the residential quarters, not putting up with the excavation of work to lay down the foundation for the office building also resulted in delay of completion of the work. Hence, the department cannot be accused....... + More
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2017 (2) TMI 1545
Payment against the 8 supplementary invoices raised by the Kolkata Port Trust towards reimbursement of service tax - HELD THAT:- The Service Tax Department will be making available to the Kolkata Port Trust the necessary Cenvat Credit for the said sum of Rs. 3,94,34,035/- paid towards service tax on the basis of the supplementary invoices and the original discharge certificate as aforesaid issued by the Service Tax Department as per the statement made in paragraph 3(e) and 3(f) of the affidavit in opposition affirmed on 22nd day of January, 20....... + More
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2017 (2) TMI 1544
Commutation of death sentence of Sheikh Shamsul and Sheikh Gheyas, to imprisonment for life - conviction confirmed - interpretation of Section 172 of Code of Criminal Procedure, 1973 - veracity of the evidence adduced - relevance of overt act in conviction Under Section 149 of the Penal Code - rarest of the rare cases theory for confirming death sentence. HELD THAT:- While upholding the judgment and order of conviction passed by the Trial Court, the High Court has primarily relied upon the evidence of eye-witnesses, PW14, PW4, PW5 and PW9 who ....... + More
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2017 (2) TMI 1543
Interpretation of statute - rule of Harmonious Construction - Maintainability of appeal - appealable order under Order XLIII of the CPC or not - Prayer for new documents filed alongwith the affidavits by way of examination-in-chief of new witnesses of the plaintiffs be taken on record. It was submitted that the proviso to Section 13(1) of Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts Act, 2015 is clearly applicable and it specifically provides that no appeal shall lie to a Commercial Appellate Division....... + More
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2017 (2) TMI 1542
Addition of unexplained investment towards purchase of plot - on money on the purchase of the vacant plot - as per assessee agreement made in respect of plot did not materialise - As per revenue cancellation agreement was found in post search operations and is fabricated document - HELD THAT:- The assessee is an individual. The assessee is in the business of colonization. The assessee purchases agricultural land from farmers and then the formalities of the Rajasthan Land Revenue Act and JDA Act is completed for conversion of land from agricult....... + More
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2017 (2) TMI 1541
Demand of differential duty alongwith interest and penalty - finalization of assessments or not - importer did not produce any documents to show the fact of final assessment - HELD THAT:- There have been factual mistakes in the impugned order. The impugned order wrongly notes that provisional assessments were finalized and the goods were finally assessed. When the goods have not been finally assessed, the findings given in the impugned order cannot be sustained - the impugned order is set aside and the matter is remanded to the Commissioner fo....... + More
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2017 (2) TMI 1540
Enhancement by CIT(A) - addition under the deeming provisions of Section 50C - CIT(A) not only confirmed action of the AO but also directed the AO to make an addition in respect of cost of acquisition as there was variation in the figures of cost of acquisition as per record vis-a-vis the lease deed - HELD THAT:- A co-ordinate bench of this Tribunal in the case of M/s. Monga Metal Pvt. Ltd[ 2013 (8) TMI 1179 - ITAT LUCKNOW] has held that such an action of the AO i.e. of proposing enhancement without putting the assessee to specifically notice ....... + More
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2017 (2) TMI 1539
Scope and purport of Section 173(8) Code of Criminal Procedure - High Court interfered with the order of the Magistrate permitting further investigation by the police in the case and ordered for expeditious disposal of the trial. Whether it was permissible for the investigating officer or the officer-in-charge of the police station to undertake a further investigation even after the filing of the charge sheet? HELD THAT:- It noted as well that Under Section 173(2)(i), the officer in-charge, as soon as the investigation is completed, is require....... + More
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2017 (2) TMI 1538
Condonation of delay - ITA filed after 613 days and other after 707 days - Revenue aggrieved by the order of ITAT which allowed the assessee s appeal, holding that the exercise of Section 263 not warranted - HELD THAT:- In both instances, the explanation for the delay is less then convincing; the Revenue states the heavy workload of appellant, which it unable to effectively manage as well as the lack of manpower. The other reason stated is the reorganization of its panel counsel. Both did not constitute sufficient cause to enable the Court to ....... + More
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2017 (2) TMI 1537
TP Adjustments - international transactions in respect of payment of trade mark fee - Selection of MAM - Transactional Net Margin Method (TNMM) OR Comparable Uncontrolled Price Method (CUPM) - HELD THAT:- The following question of law arises for consideration in these appeals:- Did the Income Tax Appellate Tribunal ( ITAT ) fall into error while deleting the Transfer Pricing Adjustments regarding the international transactions in respect of payment of trade mark fee and in applying the Transactional Net Margin Method (TNMM) instead of Comparab....... + More
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2017 (2) TMI 1536
Disallowance u/s 14A - AO computed the disallowance in both the years u/r. 8D(2)(iii) of the I.T. Rules at 0.5% of average value of investment - CIT(A) took the view that investments made by the assessee are in the form of strategic investments and accordingly directed AO to compute the disallowance at 5% of the fixed/semi variable expenditure incurred by the assessee - HELD THAT:- As counsel submitted that AO had made identical disallowance in A.Y. 2009-10 also, which was reduced to 5% of the fixed/semi variable expenses by the order passed b....... + More
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2017 (2) TMI 1535
Accrual of income - Arbitration receipts - assessee has shown arbitration receipts in his books of accounts under the head Current liabilities and has not credited the same in the profit/loss account - As per AO arbitration receipts cannot be treated as liability till the order of Supreme Court is received against the assessee and the same receipts was accordingly treated as income of the assessee and brought to tax - HELD THAT:- Where the challenge to the arbitral award ends in favour of the assessee, the Revenue would be entitled to bring th....... + More
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2017 (2) TMI 1534
Exemption u/s 11/12 - Receipt in the nature of Fee from Professional/ Technical Services/ Contractual receipts and, therefore, commercial in nature - donation had been given to the assessee to promote the objects of the NASSCOM and not for any charity - As per AO activities were clearly in the nature of trade and commerce and rendering services in relation to trade/ commerce/ business more particularly because assessee had charged service tax on the amount so received by it - As per assessee it was setup with the predominant objective to impro....... + More
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2017 (2) TMI 1533
Seeking waiver of the deposit as required in terms of Section 19 of the MSMED Act - Validity of Arbitral Award - competency of FC was to act as an Arbitral Tribunal (AT) notwithstanding the arbitration clause in the contract between the parties - liability of Alstom to pay REPM - liability to pay interest under Section 16 of the MSMED Act. HELD THAT:- Section 8 of the MSMED Act envisages two possible situations; one is where a unit which has not yet come into existence, and the second is where the unit is in existence. Where a unit is yet to b....... + More
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2017 (2) TMI 1532
Addition on account of purchases made in contravention of provisions of Section 40A(3) - assessee had purchased in cash gold and silver - assessee has filed his return u/s 44AF - HELD THAT:- From perusal of records, it transpires that the issue under consideration has already been decided by the Coordinate Bench of the ITAT in assessee s own case [ 2016 (4) TMI 1440 - ITAT JAIPUR ],[ 2016 (10) TMI 1373 - ITAT JAIPUR] for the assessment years 2006-07 and 2007-08 wherein respectfully following the decision of ITAT Ahemdabad Bench in the case of ....... + More
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2017 (2) TMI 1531
Validity of Arbitral Award - fraud or coercion - it is alleged that the Consent Terms were executed under pressure or coercion and were executed by the Petitioner herein on the basis that the Respondent would comply with its obligations under the MOU, which allegedly had not been done by the Respondent herein - Section 34 of the Arbitration and Conciliation Act, 1996 - HELD THAT:- First and foremost there is no case pleaded of fraud having been played upon the Petitioner herein while executing the Consent Terms. The case is one of coercion, wh....... + More
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2017 (2) TMI 1530
Jurisdiction of High Court - whether FIR and the consequential proceedings alleging non-compoundable offences could be quashed by the High Court in exercise of its jurisdiction Under Section 482 of Code of Criminal Procedure on the basis of the settlement arrived at between the complainant and the Respondents-accused? - Doctrine of judicial restraint. HELD THAT:- Since the present case pertains to the crucial doctrine of judicial restraint, we are of the considered opinion that encroaching into the right of the other organ of the government wo....... + More
