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Anoop Baranwal Vs. Union Of India Ministry Of Law And Justice Secretar ...

Court : Supreme Court of India

..... the salary of a comptroller and auditor general nor his rights in respect of leave of absence, pension or age of retirement shall be varied to his disadvantage after his appointment (4) the comptroller and auditor general shall not be eligible for further office either under the government of india or under the government 63 of any state after he has ceased to hold his office (5) subject to the provisions of this constitution and of any law made by parliament, ..... legislature has to lay down the norms of conduct or rules which will govern the parties and the transactions and require the court to give effect to them; (2) the constitution delineated delicate balance in the exercise of the sovereign power by the legislature, executive and judiciary; (3) in a democracy governed by the rule of law, the ..... it is pointed out that the election commission (conditions of service of election 8 (1995) 4 scc61121 commissioners and transaction of business) act, 1991 (hereinafter referred to as, the 1991 act) does not deal with the process of selection and all the details that may be ..... should state, an act to determine the appointment and conditions of service of the chief election commissioner and other election commissioners and to provide for the procedure for transaction of business by the election commission and for matters connected therewith or incidental thereto. ..... of india (transaction of business) rules, 1961 are silent regarding the process of selection and on the eligibility criteria. .....

Bombay Mercantile Co-operative Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2006)100TTJ(Mum.)713

..... the grounds that (a) assessee was not having any sgl account with rbi, and, therefore, it could not have entered into securities transactions; (b) bank of india, andhra bank and bank of karad, the parties to such transactions, have not confirmed transactions; (c) the sale prices at which transactions have taken place are more than the prices quoted at the bombay stock exchange; (d) jankiraman committee's interim report has considered broker 'bhupendra ..... be noted that the impugned assessment order has been passed by the ao in the remanded proceedings and the remand directions were that the ao should "go through the final report of jankiraman committee on security transactions scam, 1992 and find out whether the contention of the appellant is correct that the assessee-bank has not been found involved in the securities scam. ..... issue that we are required to adjudicate really is whether or not the profits earned, in ready forward transactions, by the assessee-bank can be said to be a part of profits from "carrying on the business of banking" eligible for deduction under section 80p(2)(a)(i) of the it act, 1961. ..... set out above, we are of the view that the profit from ready forward transactions that the assessee-bank entered into on the facts of this case is a part of the profits attributable to 'carrying on the business of banking' and is, accordingly, eligible for deduction under section 80p of the it act. ..... respect of the above transactions, is eligible for deduction under section 80p .....

Namdeo Asruba Mali Vs. State of Maharashtra and ors.

Court : Mumbai

Reported in : AIR1985Bom211; 1985(1)BomCR392; (1985)87BOMLR42; 1985MhLJ671

..... of the authorised officer under section 7(6) of the maharashtra debt relief act, 1975 (for short 'the act') to go behind the apparent nature of the transaction and determine the real nature of the transaction and grant relief to the debtor.in punamchand's case : air1978bom103 , the division bench held:--'if the transaction is expressed in the form of a sale-deed we do not understand how the tahsildar acting under the provisions of the debt relief act can go beyond the ..... the creditor may allege that the debtor is not a marginal farmer, a rural artisan, a rural labourer or a worker, he may dispute the eligibility of the debtor for the relief under the act on any other ground including the valuation of the immovable property, if any, of a worker. ..... if such a person makes an application , the creditor may raise a question as to the eligibility of the person to the benefit of the act and after enquiry possessionmay be ordered to be delivered by the authorised officer to the debtor. ..... the creditor is thus given a right to raise the question of eligibility which includes the right to plead that the person who claims to be a debtor is not a debtor, that he is not a worker if he claims to be a worker and he may raise any other question including the valuation of the immoveable property if ..... in the course of implementing the provisions of section 4 of the act the creditor is given a right under section 7 to dispute the eligibility of any debtor to the relief of possession under the act. .....

Satya Prakash Aggarwal Vs. National Stock Exchange of India

Court : Mumbai

Reported in : [2006]134CompCas324(Bom); [2006]69SCL115(Bom)

..... national stock exchange has submitted that the said arbitration clause which is in bye-law ix, provides that all claims, differences or disputes inter alia between a trading member and constituents in relation to dealings, contracts and transactions made subject to the bye-laws, rules and regulations of the exchange or with reference to anything incidental thereto or in pursuance thereof or relating to their validity, construction, interpretation, fulfilment or the rights, obligations and liabilities ..... in view of the aforesaid facts, the learned senior counsel for the nse has submitted that it is very clear that none of the transactions were tallied with the records as reflected in the neat system, and in the circumstances, neither the nse nor the trust is liable to compensate the petitioner ..... according to the learned senior counsel for the nse, it is very clear that for considering any claim to be valid it must be substantiated by the transaction done/executed and recorded on the neat system of the nse, and that the evidence of payment/proof of delivery of securities by the claimant to the trading member should ..... will be eligible for payment to the extent of the actual loss suffered by an investor and the actual loss would include any difference receivable by the claimant arising out of the transactions. ..... arrived at after adopting the method of pro rata distribution of the eligible amount amongst all the constituents who were issued contracts with regard to the same transaction. .....

Society of Catalysts Vs. Vodaphone Essar Mobile Services Limited.

Court : Delhi State Consumer Disputes Redressal Commission SCDRC New Delhi

..... the offering of gifts, prizes or other items with the intention of not providing them as offered or creating impression that something is being given or offered free of charge when it is fully or partly covered by the amount charged in the transaction as a whole; (b) the conduct of any contest, lottery, game of chance or skill for the purpose of promoting, directly or indirectly, the sale, use or supply of any product or any business interest; (nb : italics to highlight the violations ..... of gifts, prizes or other items with the intention of not providing them as offered or creating impression that something is being given or offered free of charge when it is fully or partly covered by the amount charged in the transaction as a whole; (b) the conduct of any contest, lottery, game of chance or skill, for the purpose of promoting, directly or indirectly, the sale, use or supply of any product or any business interest. 44. mr. ..... the scheme or contest or the lottery, the op has admitted having launched the scheme for the subscribers who talk for more than 20 minutes on their cell phone to become eligible and would automatically participate in the draw of lots and stand to win gold coins and maruti sx4 car and for this they have not paid any extra amount. 19. ..... that something is given for free whereas they are exhorting or alluring the consumers to make unnecessary extra calls to become eligible for the participation and it is fully covered in the amount charged for transaction as a whole. 87. .....

Thomson Press (India) Ltd. Vs. Commissioner of Income Tax-II

Court : Delhi

..... cit: (1983) 140 itr 379 (mp) in support of his view that the transaction of crediting interest by the head office to the account of the eligible undertaking was between the two branches of the assessee and did not give rise to any ..... whilst the ao rejected certain expenses as deductible, there was no discussion in respect of the interest included as the profits and gains of the eligible undertaking; the ao did not object to the inclusion of interest in profits from the eligible undertaking, which were exempt under section 10a of the act and, consequently, reduced by the assessee from its total income for computing the income ..... aggarwal, this indicated that the eligible business and non eligible business were to be treated as separate sources and transactions inter se different units of an assessee were recognised for the purposes of calculating the income derived by an assessee from an eligible undertaking. 19 ..... . section 10a if read in the manner as suggested by the assessee, would imply that profits and gains of an assessee from its eligible undertaking would include fictional income which is otherwise not chargeable to tax and correspondingly, the assessee would show fictional expenditure in relation to its business, other than that falling within the ..... in that case was whether, for the purposes of computing the gross total income of the assessee, the loss of non-eligible undertaking could set off against the income derived from the undertaking to which section 10a of the act applied .....

Phoenix Arc Private Limited Vs. Spade Financial Services Limited

Court : Supreme Court of India

..... assailing the judgment of the nclat, mr viswanathan submits: (i) there were no common key managerial personnel or directors between the corporate debtor and spade and aaa during the relevant period of the transactions between 2010 to 2013; (ii) the appellate tribunal has incorrectly held that mr arun anand was in a position to influence the decision making of the corporate debtor, without satisfying the test of control ..... debtor g.1 submission of counsel g.2 assessment of preliminary submissions g.2.1 res judicata g.2.2 issues before nclat g.2.3 remand to nclat g.3 analysis g.3.1 statutory provisions g.3.2 financial creditor and financial debt g.3.3 collusive transactions g.3.4 spade and aaa2h whether spade and aaa are related parties h.1 submission of counsel h.2 statutory provisions h.3 analysis i whether spade and aaa can be excluded from the coc i.1 submissions of ..... section 5(24)(d); 15 (2019) 2 scc139 part h (vi) the corporate debtor and aaa are incorrectly assumed to be partners in accordance with section 5(24)(a); (vii) the two transactions mentioned in order to prove a relationship under section 5(24)(f) were commercial transactions where the corporate debtor borrowed money from spade to pay third parties, which would have been paid back with interest; and (viii) section 5(24a) has no ..... submissions in relation to the eligibility of spade to be a financial creditor are: (i) spade has concealed the real nature of the collusive transactions and had filed an unlawful .....

Mid East Port Folio Management Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Reported in : (2003)87ITD537(Mum.)

..... believe that the presence of a rule enabling the electricity board to provide for depreciation in its accounts even in respect of leasehold assets is a blessing to the electricity boards who have entered into slb transactions in the sense that they can continue to provide for depreciation in respect of the leasehold assets and thus claim that they still continue to be the owner of the assets and when a question arises in ..... crores paid by the assessee was excessive, he could have invoked this explanation and reduced the figure of actual cost in the manner provided in the explanation, but in any case the ao cannot ignore the lease transaction and consider it as a simple loan.if the figure of written down value was required, the ao was free to get the same either from assessee or geb and if it was not forthcoming, he could ..... it will be seen that chronology that even before the advertisements were issued in the newspapers inviting offers for obtaining leasing finance, a decision had been taken to enter into the slb transaction with the members of the syndicate led by kotak mahindra, of which the assessee was one.thus, the advertisement in the newspaper would only appear to be a mere formality or a ..... parties, especially of the assessee which was in a position to influence and control the documentation prepared by rseb, to make sure that what would be the subject-matter of the slb transaction were only those assets which were eligible for 100 per cent depreciation under the it act. mr. .....

Commissioner of Income Tax Vs. M/S Orient Abrassive Ltd

Court : Delhi

..... we have already noted the statutory provisions of section 80 ia of the act and observed that the statutory provisions in fact were to the contrary and stipulate computation of an eligible undertaking s profit or loss, even when the sales/transactions were made to a related party or to the same assessee, but in such cases, the profits have to be computed in the manner stipulated in sub-sections (10) and (8) to section 80-ia.13. ..... eligible business for the purposes of the deduction under this section, take the amount of profits as may be reasonably deemed to have ..... assessing officer that, owing to the close connection between the assessee carrying on the eligible business to which this section applies and any other person, or for any other reason, the course of business between them is so arranged that the business transacted between them produces to the assessee more than the ordinary profits which might be expected to arise in such eligible business, the assessing officer shall, in computing the profits and gains of such .....

The Icici Ltd. Vs. Dy. Cit, Special Range 36

Court : Income Tax Appellate Tribunal ITAT Mumbai

..... that the presence of a rule enabling the electricity board to provide for depreciation in its accounts even in respect of lease hold assets is a blessing to the electricity boards who have entered into slb transactions in the sense that they can continue to provide for depreciation in respect of the lease hold assets and thus claim that they still continue to be the owner of the assets and when a question arises in ..... question was proposed by the bench for the consideration of the hon'ble president for being referred to a larger bench: "on the facts and in the circumstances of the case, was the transaction entered into between the assessee and rseb rightly treated by the departmental authorities as one attracting the rule laid down by the supreme court in mcdowell's case (154 itr 148) and consequently, were ..... but the judicial eye can certainly unearth a device or a smoke-screen created to conceal the real intention of the parties and for this purpose, can examine the genuineness of the particular transaction which is called in question.this jurisdiction has to be conceded and in fairness to counsel appearing for the appellants, it must be stated that they did not dispute this right, but what ..... of the parties, especially of the assessee which was in a position to influence and control the documentation prepared by rseb, to make sure that what would be the subject-matter of the slb transaction were only those assets which were eligible for 100% depreciation under the income-tax act. mr. .....