"10 March 2013" Archive - Page 2

Winding up petition can be admitted on failure of respondent to argue his stand on non-admission of liability

Maheshwary Ispat Ltd. Vs Neo Carbons (P.) Ltd. (Calcutta High Court)

The company cannot demonstrate that it had, contemporaneously or otherwise, complained of the goods supplied by the petitioner not adhering to any of the specifications stipulated in the purchase orders. Even the company's grievance as to the size of the goods is not tenable since the purchase orders specified the size to be 0-1 mm....

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s. 68 Addition for unexplained should be deleted even if Assessee explains & provides credible evidences even during appellate proceedings

Income Tax Officer-V(4), Ludhiana Vs Sains Engg. Works (ITAT Chandigarh)

In this case, AO, made an addition of Rs.28,00,000/-, in respect of advances received from M/s Jot Agro Processors Pvt. Ltd. at Rs. 25 lacs and M/s Madura Agro Food Industries at Rs. 3 lacs/-. The main addition made by the AO pertains to non-furnishing of PAN and bank account number. However, in the course of appellate proceedings, appell...

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