Court : Mumbai
..... and vexatious to the knowledge of the petitioner. that opinion is supported by the contemporaneous record including the further revelations made during the investigation about the act of the petitioner in withdrawing the amount equivalent to the cheque amount from one account of his bank and immediately re-depositing the self-same amount ..... as being member of the raiding party or as witness to the concerned panchanamas. thus understood, no inference can be deduced that respondent no.5 has acted against the petitioner with vengeance or otherwise. nor it is possible to hold that the entire investigation done by the navghar police station is vitiated. 28. ..... the petitioner faintly argued that installation of cctv without recording facility by the police authorities serves no purpose. if recording facility was to be provided, the acts of commission and omission of the concerned police officials could have been exposed. he submits that it is high time that the state should forthwith provide for .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
..... assessing officer held that the above transaction was not a slump sale transaction and hence capital gain was required to be worked out as per normal provisions of the act. the ao observed from the chart as reproduced above that all assets other than inventories, that is, debtors, loans, miscellaneous receivables etc. did not have ..... deemed to be the loss or, unabsorbed depreciation of the amalgamated company for the previous year in which the amalgamation was effected, and other provisions of this act relating to set off and carry forward of loss and allowance for depreciation shall apply accordingly. as the amalgamation took place in the relevant previous year, the ..... disallowing the brought forward loss of bayer tpu pvt. ltd. (amalgamating company)(hereinafter called as btpu) amounting to rs. 7,73,00,414/- u/s. 72a of the act. 3. briefly stated the facts of this ground are that two separate companies - btpu and bayer specialty products pvt. ltd. (bsppl) - got amalgamated with the assessee- .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
..... response to the particulars of the concerns furnished by the assessee only during the hearing before the tribunal. without such particulars, the assessing officer was entitled to act on the admission contained in the statement dated 20-12-1991, but in view of these particulars and the contentions raised before the tribunal, it has become ..... and the evidentiary value of the statement cannot be detracted by such an error, specially in view of the provisions of section 292b of the income-tax act. the power exercised by a competent authority cannot be regarded as illegal simply because a wrong section is mentioned if the said authority has jurisdiction under some other ..... firstly, he contended that the admission contained in his statement dated 20-12-1991 regarding the peak of the bank accounts figuring in annexure a3 cannot be acted upon because the statement itself had no legal validity for the reasons mentioned by us hereinbefore.19. it was also contended that the concerns to whom the .....
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