"25 November 2012" Archive

Systematic corruption, is a human rights’ violation – SC

State Of Maharashtra Tr.C.B.I. Vs Balakrishna Dattatrya Kumbhar (Supreme Court of India)

Corruption is not only a punishable offence but also undermines human rights, indirectly violating them, and systematic corruption, is a human rights’ violation in itself, as it leads to systematic economic crimes. Thus, in the aforesaid backdrop, the High Court should not have passed the said order of suspension of sentence in a case i...

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Public Servant Need No Sympathy for Corruption- HC

Balim son of Wasudeo Ghodki, Dead Through his legal heirs Vs State of Maharashtra, through Anti Corruption Department, Nagpur (Bombay High Court)

Corrupt public servant deserves no sympathy and ruling out any leniency towards public servant who has been found guilty by the trial court, also made it clear that each of the criminal case is required to be decided with reference to the individual facts of each case. ...

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Validity of Reassessment notice if it mentions employee of company as agent?

Arvind Mills Ltd. Vs Assistant Commissioner of Income-tax (Gujarat High Court)

As per the Assessing Officer, the petitioner should be treated as an agent of Mr. Ivo Perica. For the salary income that Mr. Ivo Perica received for the work done in India having not paid tax, such tax could be recovered from the petitioner. For some strange reason, however, when the impugned notice was issued, the petitioner was describe...

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TPO to consider both external and internal comparables to determine ALP

California Software Co. Ltd. Vs Assistant Commissioner of Income-tax (ITAT Chennai)

Even if the assessee as well as the authorities below agree that the internal comparables are sufficient for the TP study in the present case, that does not justify the legal compulsion of examining the external comparables as well. An agreement, arrived at on the basis of incorrect premises between the contending parties, does not deter...

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Apex court can dismiss appeal on account of vagueness, leaving question of law open

Commissioner of Income-tax, Delhi Vs Gold Tax Furnishing Industries (Supreme Court of India)

In the present case, we find that the Assessment Order does not give effect to the amount seized in the calculation of tax payable at the end of the Assessment Year in question. Further, there is no Demand Notice and there is no basis for claiming interest on advance tax due on 15th September, 15th December and 15th March. On account of t...

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S. 2(22(e) – Mere transfer of profit by a company cannot be treated as loan

Mahender Kumar Gupta (HUF) Vs Assistant Commissioner of Income-tax (ITAT Delhi)

Even though the assessment order mentions date of receipt of profit on sale of shares as 4.2.2004 and the amount is claimed to have been received from the company M/s DN Kansal & Securities (P) Ltd., the AO or the ld. CIT(A) did not analyse the nature of transaction as to how it is loan or advance nor ascertained accumulated profits of th...

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Extended period of limitation not invokable in case of revenue neutral situation

Adani Ports & Special Economic Zone Ltd. Vs Commissioner of Service Tax, Ahmedabad (CESTAT Ahmedabad)

There is no dispute that the appellants were eligible for CENVAT credit for the amount paid as Service Tax and, therefore, this is a situation which was revenue neutral and by not paying the Service Tax immediately, appellants have lost more than Rs.26,00,000/- paid by them as interest which would not have become payable if Service Tax wa...

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Services provided by one unit of assessee to other unit not liable to service tax if Registration of Units based on same PAN

SAIL Vs Commissioner of Central Excise, Ranchi (CESTAT Kolkata)

We find from the Central Excise Registration and the other documents furnished by the applicant that the Registration by Central Excise Department has been given by including PAN Number of SAIL. There is no dispute that the applicant is an unit of M/s SAIL and the other units are also part of M/s SAIL. Thus, we find that the service is be...

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Expense cannot be disallowed for Mistakes in form 15G

Pareek Electricals Vs Assistant Commissioner of Income-tax (ITAT Cuttack)

With respect to the deduction u/s.194-I,the learned Counsel for the assessee has submitted that the land lady being a senior citizen has submitted Form 15G to the assessee declaring that no tax should be deducted on the rent paid to her when the taxable limit for taxation in her hand was to be Rs. 1,95,000. ...

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Drilling of exploratory wells is part Mining Service

Atwood Oceanics Pacific Ltd. Vs Commissioner of Service tax, Ahmedabad (CESTAT Ahmedabad)

While considering the scope of Survey and Exploration of Mineral, Oil and Gas Service, we limited the scope to the five elements of exploration and did not consider the drilling of exploratory wells as part of that service, it has to be treated as part of Mining Service since any service in relation to Mining would come in this category....

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