A bare reading of the order shows complete non-application of mind. As rightly pointed out by learned counsel for the appellant, this is not the way a statutory appeal is to be disposed of. Various important questions of law were raised. Unfortunately, even they were not dealt by the first appellate authority.
In American Hotel & Lodging Association, Educational Institute vs. CBDT 2008 (301) ITR 86 SC, the Supreme Court analysed the provision and found that the second proviso to Section 10(23C)(vi) lays down the powers and duties of the prescribed authority for vetting an application for approval and that the prescribed
Whether oil rigs engaged in operations in the exclusive economic zone/ continental shelf of India, falling outside the territorial waters of India, are foreign going vessels as defined by Section 2(21) of the Customs Act, 1962, and are entitled to consume imported stores thereon without payment of customs duty in terms of Section 87 of the Customs Act, 1962?
Tribunal has rejected the appeals filed by the appellants and held that the appellants had not satisfied the conditions for availing the benefit of the Notification No.8/96-CE dated 23rd July 1996 on the ground that the copper waste and scrap used by the appellants had been imported and had not been generated in the factory of production.
As per the Explanatory Notes to HSN the parts falling under Chapter Heading 8710 would be covered under the said chapter, provided they fulfill both the conditions i.e. they must be identifiable as being suitable for use solely or principally for such vehicles and that they must not be excluded by the provisions of Notes to Section XVII. The identifiable parts under the said heading bodies of armoured vehicles and parts thereof, cover special road wheels for armoured cars, propulsion wheels for tanks, tracts etc.
WEP Peripherals Ltd Vs. Commissioner of Customs, Chennai (Supreme Court)- The only question which arises for determination in this civil appeal is whether the adjudicating authority was entitled to load the royalty/licence fee payment on to the price of the imported goods, viz, the shuttle(s) by taking its peak price. In the present case, the importer/buyer used to negotiate with the foreign supplier on quarterly basis.
the assessee advanced interest free loan to its sister concern amounting to Rs.5 lacs. According to the Tribunal, there was nothing on record to show that the loans were given to the sister concern by the assessee-firm out of its Own Funds and, therefore, it was not entitled to claim deduction under Section 36(1)(iii). Munjal Sales Corporation Vs.CIT (Supreme Court)
Civil – Specific performance – Validity of – Stamp paper – Opinion of experts – Section 54 of the Indian Stamp Act, 1899 – Indian Stamp Rules, 1925 – Section 45 of the Indian Evidence Act, 1872 – Plaintiff-Appellant alleged that the First Defendant agreed to sell suit property by an agreement and received some amount as advance – Plaintiff issued a notice to execute the sale deed and receive the balance amount – Defendant denied the agreement and executed the sale deed in favour of Second Defendant – Plaintiff filed a suit for specific performance – Defendant contended that the sale agreement put forth by the Plaintiff was forged and concocted – Trial Court dismissed the suit on the ground that the sale put forth by Plaintiff was false –
Discover the legal nuances in the Supreme Court judgment (Civil Appeal 582/2008) involving M/s Anis Ahmad and Sons versus Commissioner of Income Tax. Uncover the intricacies of the case where the appellant, a Commission Agent, challenges the classification as a ‘Trader.’ The court emphasizes that no adverse inference should be drawn due to non-appearance of certain traders and affirms the appellant’s role as an ‘Arhatiya’ (Commission Agent). Explore the details of the case and the court’s decision dated 22/01/2008.
Commissioner of Income Central vs Suresh N. Gupta On 17.1.2001 a search under Section 132 of the 1961 Act was carried out at the premises of the respondent-assessee , an individual. The search unearthed an unexplained investment of Rs. 65,000/- being the value of household valuables and Rs. 97,427/- on account of unexplained marriage expenses (undisclosed income). Accordingly, in the block assessment, the A.O. determined the assessee’s undisclosed income at Rs. 1,62,427/-. He computed tax thereon at 60% in terms of Section 113 of the 1961 Act amounting to Rs. 97,456/- on which surcharge was levied at 17%, i.e., Rs. 16,504/-. The levy of surcharge was challenged by the assessee in appeal before the CIT(A). The said appeal was allowed. The decision of CIT(A) has been confirmed by the Tribunal and the High Court. Hence, this civil appeal.
