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Commissioner of Income Tax Vs. Shri S.K. Katyal

Court : Delhi

Reported in : (2009)221CTR(Del)310; [2009]308ITR168(Delhi); [2009]177TAXMAN380(Delhi)

..... must be a record of a search or seizure for it to qualify as the panchnama mentioned in explanation 2(a) to section 158be of the said act.27. do the decisions in m.b. lal (supra) and vls finance (supra), on which heavy reliance has been placed by the learned counsel for the revenue/appellant, alter the position indicated above ..... ) any person to whom a summons under sub-section (1) of section 37 of the indian income-tax act, 1922 (11 of l922), or under sub-section (1) of section 131 of this act, or a notice under sub-section (4) of section 32 of the indian income-tax act, 1922, or under sub-section (1) of section 142 of this act was issued to produce, or cause to be ..... (1)(b) and explanation 2(a) to section 158be, this would have to be deemed to be the date on which the last of the authorizations for search was executed. she placed reliance on (1) m.b. lal v. cit : [2005]279itr298(delhi) ; and (2) vls finance ltd. v. cit : [2007]289itr286(delhi) . on the other hand, the learned counsel for .....

Director of Income-tax (Exemption) Vs. All India Personality Enhanceme ...

Court : Delhi

..... the restrictions to make investments other than in the form as specified under section 11(5) of the act were not applicable to institutions claiming exemption under section 10(22) of the act. similar restrictions were imposed by proviso to section 10(23c)(vi) of the act by virtue of the finance act, 1998 w.e.f. 1st april, 1999; however, by virtue ..... are common and/or interlinked, the said matters were heard together. 3. ita 705/2008 is an appeal preferred by the revenue under section 260a of the act against an order dated 28th september, 2007 passed by the income tax appellate tribunal (hereafter the 'tribunal') in it(ss)a.no.300/del/2001 whereby the assessee's ..... and by an order dated 4th august, 2006, recalled its earlier order dated 25th june, 2004. 9. the tribunal, thereafter, passed an order dated 28th september, 2007, which is impugned in ita 705/2008, allowing the assessee's appeal principally on the ground that surpluses disclosed by the assessee in the books of accounts maintained in .....

Re-Hoffland Finance Ltd Vs..

Court : Delhi

..... of goga foods limited are not known, no details have been filed. reliance is placed on section 542 and 543 of the companies act, 1956 to submit that the company court would have powers to take over the assets of the respondent company hoffland finance limited which includes the land claimed by goga foods limited.14. mr.ravinder sethi, learned senior ..... sharma, adv. for m/s goga foods ltd.(applicant) coram: hon'ble mr. justice jayant nath ca nos. 652/2007 & 1445/2013 1. this winding up petition is filed by reserve bank of india under section 45 mc of the rbi act seeking winding up of the respondent company. it has been stated in the petition that the respondent company is a ..... b.b.sharma resigned in 1995. at that time he held substantial shares in goga foods limited being the promoter of the same. in his statement dated 20.6.2007 recorded before the committee constituted by the court he has said that he held more than 2 lac shares in goga foods limited having face value of rs.10/- and .....

Orix Auto Infrastructure Services Ltd. Vs. Commissioner, Dvat, Delhi ...

Court : Delhi

..... of tax by the state governments under entry 54 of list ii of the vii schedule of the constitution, which have not been overridden. decision in 20th century finance corporation ltd. (supra) cannot be interpreted as an authority for the proposition that delivery of possession of goods is not a necessary concomitant for complete transaction of ..... having reference to measure of tax, but not the subject matter of tax. reliance is placed upon the decision of the supreme court in m/s 20th century finance corporation limited and another versus state of maharashtra, (2000) 119 stc182 union of india and others versus bombay tyre international limited, (1984) 1 scr347and decision of ..... of composition in respect of the said contract under the repealed act if it had continued to be in force: provided that the provisions of this sub-section shall be valid up to the 31st day of march, 2007: provided further that the provisions of this sub-section shall not apply where the contract value has been changed on .....

Kanha Vanaspati Ltd. Vs. Additional Cit, Range-50

Court : Income Tax Appellate Tribunal ITAT Delhi

..... the financial charges paid by the assessee to the financiers for the said short-term loan arrangements logically fell under the definition of interest under section 2(28a) of the act. the cost of finance which is certainly in the nature of interest had been debited under the head 'discounting charges' by the deductors in the books of ..... discount charges.16. in the case finance charges/interest a person simply pays the interest for the period ..... dated 31-1 -2007 in i.t.a. nos. 75 & 90/delhi/2004. the assessee has not controverted this fact neither during the course of appeal against order passed under sections 201(1) and 201 (1 a) nor in the course of penalty proceedings under section 271c of the act. the assessee has treated the finance charges or interest as .....

Akriti Media (P) Ltd. Vs. Asstt. Cit

Court : Delhi

Reported in : (2004)89TTJ(Del)836

..... v. dy. cit : [1999]236itr73(guj) has been explicitly enacted into the block assessment scheme by *the legislature by insertion of the explanationn below section 158baq) by the finance (no. 2) act, 1998, further clarifies the position. the said explanationn reads as under :(a) the assessment made under this chapter shall be in addition to the regular assessment ..... are genuine parties and confirm the investment, there is no question of making any addition in the hands of company by invoking the provisions of section 68 of the income tax act, 1961.8. even on merits, learned counsel submitted that all the three shareholders, namely, s/shri govind mishra, jaipal sharma and alok goel ..... 11, new delhi for the block. period 1-4-1986 to 19-4-1996.2. search operations were conducted by the it authorities under section 132 of the income tax act on the premises of shri alok agarwal who is a practicing chartered accountant. during the course of such proceedings books of account and other documents .....

Shree Krishna Polyester Ltd. Vs. State and ors.

Court : Delhi

Reported in : 2007(99)DRJ167

..... first time in the month of april, 2001 when applications were filed before the learned acmm mumbai for dropping the proceedings in the complaint under section 138 r/w section 141 n.i. act. it was pointed out by the learned counsel for the petitioners that clause 5 of the alleged agreement required filing of joint application and along ..... s) dated 17.9.1999. the same was on a clear understanding that on receipt of balance payment, the complaints before the acmm mumbai under section 138 read with section 141 of n.i. act would be withdrawn. that the accused had a dishonest intention since inception. the accused never intended to withdraw the complaints. that withdrawal of criminal ..... read with section 141 of n.i. act.9. on or about 19.4.2002, the accused in the said complaints, namely, m/s lottee holdings pvt. ltd. and its directors, m/s midopa holdings pvt. ltd. and its directors as also m/s lotus finance and investment pvt. ltd. and its directors moved applications before the learned acmm .....

Indian Institute of Banking and Finance Vs Mukul Srivastava

Court : Delhi

..... should be reported in digest? yes 1.the short question is whether the indian institute of banking & finance, the petitioner herein, is a `public authority within the meaning of section 2(h) of the right to information act, 2005 (rti act).2. the facts in brief are that the respondent mukul srivastava, an employee of the punjab national bank ..... , he could not clear the remaining subjects under the old syllabus till december 2005. even under the revised syllabus he could not complete the examination by december 2007. he enrolled afresh for the first block of two attempts for jaiib examination in may 2008. he remained absent in all three examinations in may and december ..... letter of that date, he requested the petitioner for 5 grace marks. the petitioner replied on 29th december 2007 stating that the said request could not be acceded to. he then approached the minister of state for finance, government of india with a similar request. this letter was forwarded to the petitioner. it was replied .....

Logitronics Pvt. Ltd and anr. Vs. Jubilant Securities Pvt. Ltd

Court : Delhi

..... the benefit or perquisite must be one arising in the course of business, in order that the same is taxable under section 28(iv) of the act. the assessee is a company engaged, inter alia, in the business of finance and making investments in shares. the loan obtained by the respondent-assessee from shpl was part of the source of funds ..... loan amount is waived by the other party, the principal amount of loan waived by the other party cannot be brought to tax under section 28(iv) of the act or under section 41(1) of the act."25. however, in the present case, the tribunal finds that nothing was brought on record to show that the loan taken by the assessee ..... profession because loan was taken for the purpose of business and one time settlement was an integral part of the business.4. a perusal of the definition of section 2(24) of the act, which defines "income" would include the value of any benefit or perquisite, whether convertible into money or not, that would arise from the business. in order .....

India Infoline Finance Limited vs.harshad Hirji Thakkar

Court : Delhi

..... the respondent has been found to be absconding since 02.10.2018, therefore, the subject petition has been filed under section 9 of the act seeking various interim reliefs till the disposal of the arbitration proceedings which are proposed to be invoked by the petitioner.3 ..... .53/2019 2. this is a petition under section 9 of the arbitration and conciliation act, 1996 (hereinafter the act ). the petition has been omp(i)(comm) no.53/2019 page 1 of 21 filed by the petitioner india infoline finance limited. the petitioner is the creditor and the ..... , we may reiterate the observations made by the court of appeal, england in c v. d [c v. d, 2008 bus lr843:2007. ewca civ 1282]. wherein it is observed that: (bus lr p. 851g, para17) 17. it follows from this that a choice of ..... the aforesaid case, the court of appeal had approved the observations made in a v. b [a v. b, (2007) 1 all er (comm) 5 (2007) 1 lloyd's rep 237]. wherein it is observed that: an agreement as to the seat of an arbitration is analogous .....