Delhi Court December 2001 Judgments

Canara Bank Vs. Punjab National Bank

Court: DRAT Delhi

1. These applications are under Section 21 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 for waiver of the pre-deposit and for stay of the execution, respectively.2. I take up Misc. Appeal No. 304/2001 for waiver of required deposit under Section 21 first. The grounds for waiver taken in the application are that both the parties to the appeal are Nationalised Banks; that as per facts of the case, the liability of the appellant is not in the general nature of a debt taken by individual and commercial establishments but emanates from Counter Guarantee given by the appellant to the respondent Bank and that in case the pre-condition of deposit of 75% of the amount is not waived, great prejudice would be caused to the appellant.3. The applicant also relies upon the contents of the appeal to plead for waiver of pre-deposit. This application has been opposed by the respondent Punjab National Bank.5. Facts which appear to be there are that New Bank of India gave a...

Sona Steering Systems Ltd. Vs. Deputy Commissioner of Income Tax

Court: Income Tax Appellate Tribunal ITAT Delhi

Reported in: (2003)78TTJ(Delhi)213

1. These are the cross-appeals which were heard together and are being disposed of by the common order for the sake of convenience. First we take up the Departmental appeal. The following grounds have been raised by the Revenue in this appeal : "1. Learned CIT(A)-XIV, New Delhi, has erred in law and on the facts in restricting the disallowance on account of travelling expenses to Rs. 1,06,864 as against Rs. 1,85,282 disallowed by the AO. 2. Learned CIT(A)-XIV, New Delhi, has erred in law and on facts in deleting the disallowance of depreciation amounting to Rs. 26,76,856 + Rs. 5,66,258 = Rs. 32,43,114 on addition to plant and machinery due to exchange rate fluctuation. 3. Learned CIT(A)-XIV, New Delhi, has erred in law and on facts in allowing deduction for expenditure pertaining to axle project to the extent of Rs. 1,16,16,792. 4. Learned CIT(A)-XIV, New Delhi, has erred in law and on the facts in allowing deduction of Rs. 45 lacs being the amount of alleged discount allowed. 5. The ...

Subhash Arora Vs. Assistant Commissioner of Income

Court: Income Tax Appellate Tribunal ITAT Delhi

Reported in: (2002)82ITD345(Delhi)

1. This appeal by the assessee is preferred against the order passed by CIT(A) on 22nd March, 1994, in relation to asst. yr. 1992-93.2. The issue raised in this appeal relates to chargeability of income under the head "Capital gains". The facts of the case lie in a narrow compass, The AO while framing assessment under Section 143(3) observed that the assesses was holding 60,948 shares of HCL Ltd. The said HCL Ltd., through an arrangement entered into with HCL-HP Ltd., transferred 32 per cent of the holdings i.e., 19,503 shares on behalf of the assessee to HCL-HP Ltd. The said transfer was made consequent to the arrangement approved by the Hon'ble Delhi High Court. It was explained on behalf of the assessee that in consequence of the agreement entered into by the assessee with HCL-HP Ltd. the shares of HCL Ltd. were to be reduced to the extent of 68 per cent and in lieu thereof each shareholder was allotted shares in HCL-HP Ltd. (new company) to the extent of 32 per cent. It was explai...

Subhash Arora Vs. Assistant Commissioner of

Court: Income Tax Appellate Tribunal ITAT Delhi

1. This appeal by the assessee is preferred against the order passed by CIT(A) on 22-3-1994 in relation to assessment year 1992-93.2. The issue raised in this appeal relates to chargeability of income under the head "Capital Gains". The facts of the case lie in a narrow compass. The Assessing Officer while framing assessment under Section 143(3) observed that the assessee was holding 60,948 shares of HCL Ltd. The said HCL Ltd., through an arrangement entered into with HCL-HP Ltd., transferred 32% of the holdings ie., 19,503 shares on behalf of the assessee to HCL-HP Ltd. The said transfer was made consequent to the arrangement approved by the Hon'ble Delhi High Court. It was explained on behalf of the assessee that in consequence of the agreement entered into by the assessee with HCL-HP Ltd. the shares of HCL Ltd. were to be reduced to the extent of 68% and in lieu thereof each shareholder was allotted shares in HCL-HP Ltd. (new company) to the extent of 32%. It was explained that ins...

Commissioner of Income Tax Vs. Dayawati Modi

Court: Delhi

Reported in: 2002IIIAD(Delhi)623; 97(2002)DLT170

A.K. Sikri, J. 1. The questions of law raised in all these Income-tax Reference are common. For the sake of convenience, it would be appropriate to reproduce the questions referred for opinion in ITR No. 287/81: 1. 'Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the value of perquisite on account of residential house known as 'Modi Bhawan' was not assessable under Section 28 read with Section 2(24)(iv) of the Income-tax Act, 1961, but under Section 17(2) of the Income-tax Act, 1961? 2. Whether on the facts and in the circumstances of the case, the method of assessing its value was correct in law and whether the Tribunal was justified in reducing it from the value assessed by the Appellate Commissioner?' 2. Before adverting to the aforesaid questions, it would be appropriate to state the background facts under which these questions have arisen in all these cases. 3. The various assessed in these cases are family members who were p...

Subhash Arora Vs. Asstt. Cit

Court: Delhi

Reported in: [2002]82ITD346(Delhi)

ORDERR.S. Syal, A.M.This appeal by the assessed is preferred against the order passed by Commissioner (Appeals) on 22-3-1994 in relation to assessment year 1992-93.2. The issue raised in this appeal relates to chargeability of income under the head 'Capital Gains'. The facts of the case lie in a narrow compass. The assessing officer while framing assessment under section 143(3) observed that the assessed was holding 60,948 shares of HCL Ltd. The said HCL Ltd., through an arrangement entered into with HCL-HP Ltd., transferred 32 per cent of the holdings, i.e., 19,503 shares on behalf of the assessed to HCL-HP Ltd. The said transfer was made consequent to the arrangement approved by the Honble Delhi High Court. It was explained on behalf of the assessed that in consequence of the agreement entered into by the assessed with HCL-HP Ltd. the shares of HCL Ltd. were to be reduced to the extent of 68 per cent and in lieu thereof each shareholder was allotted shares in HCL-HP Ltd. (new company...

Pal Properties (i) Pvt. Ltd. Vs. Commissioner of Income-tax

Court: Delhi

Reported in: (2002)173CTR(Del)308; [2002]123TAXMAN1(Delhi)

S. B. Sinha, C.J. 1. The substantial questions of law which have been raised and are required to be answered in this appeal are :'(i) Whether the Tribunal was right in law in holding that the damages or any part thereof for illegal occupation of the premises accrued to the appellant though the claim thereforee was yet to be adjudicated finally and was pending disposal before the High Court ? (ii) Whether the Tribunal is right in law in holding that the amount received by the appellant under interim order of the High Court dated January 6, 1993, relevant to the assessment year 1993-94 is taxable on month to month basis in the assessment years 1990-91 and 1991-92 as relatable thereto?' 2. Facts :The appeal is for the assessment year 1990-91 and the first question for the assessment year 1991-92 rotates around a single issue. Briefly stated the facts of the case on the issue ate :The assessed entered into a lease agreement on November 26, 1979, with Arya Dharma Seva Sangh, for the lease o...

Prem Kumar and ors., Vs. Union of India

Court: Delhi

Reported in: 2002IIAD(Delhi)344; 96(2002)DLT89A; 2002(61)DRJ880A

S.B. Sinha, C.J. 1. These four writ petitions involving common questions of law and factwere taken up for hearing together and are being disposed of by this common judgment.FACTS 2. The petitioners in these writ petitions, approached this court, inter alia, forissuance of a writ of or in the nature of mandamus directing the respondents to pay untothem all monetary benefits including scale of pay and allowances of regular employeesand other benefits including increments, with interest, as also for confirmation in servicefrom their respective dates of joining.3. The contention of the petitioners in these writ petitions is that they hadbeen appointed on a regular basis in terms of offer of appointment dated 19th March1991 on a starting basic pay of Rs. 1100/- on the pay scale of 1100-20-1400 1100-20-1400 in the year1991 but they had all along been paid a consolidated sum of Rs. 1500/-. The writpetitioners further contended that persons similarly situated had obtained reliefs againstthe re...

ShahbuddIn Vs. the State (Nct of Delhi)

Court: Delhi

Reported in: 95(2002)DLT562; 2002(61)DRJ715

Usha Mehra, J.1. The order of conviction an sentence have been assailed primarily on three counts; firstly, the recovery of weapon doubtful; secondly the inference drawn by the learned Additional Sessions Judge that the appellant absconded after committing crime was without foundation, nor motive proved for the alleged crime; and finally prosecution failed to establish that the hair recovered from the fist (muthi) of the deceased was that of the appellant.2. Before we appreciate the challenge raised by the appellant, we may glance through the relevant facts. Deceased Bano was the sister-in-law (Bhabhi) of the appellant. She was married to his brother Shabir. She had been living with her parents after her husband was involved in criminal case and sentenced. She had a sone named Jahid from Shabir. Few months prior to this accident appellant brought her to Delhi from her parents house. She started residing in the house of Hasmat (PW-7) where appellant was also residing. On the fateful day...

Vijay Kumar Talwar Vs. Income-tax Officer

Court: Delhi

Reported in: [2003]260ITR266(Delhi)

1. Learned counsel for the appellant has taken us through the purported question of law as specified in the memo of appeal as also the various documents filed therein. Learned counsel upon a query could only state that the substantial question of law which may arise for consideration of this court would be as to whether the order passed by the Income-tax Appellate Tribunal is perverse in so far as it fails to take into consideration the relevant facts and based its decision on irrelevant factors not germane to the purpose of passing the said order. We have, as noticed above, been taken through various documents including the extracts from books of account. To us it appears that the findings recorded by the Commissioner of Income-tax as also the Income-tax Appellate Tribunal are pure findings of fact. Appreciation of evidence does not fall within the realm of this court's jurisdiction under Section 260A of the Income-tax Act. The Income-tax Appellate Tribunal had on earlier occasion rem...