Karnataka Rajya Kaigarika Sahakara Bank Niyamita and Anr. vs V. Krishnaswamy and Anr.
Object and purpose of enactment of SARFAESI Act 2002-Act providing for application of its provisions to such other banks which Central Government might by notification specify, Pith and substance of Act to empower banks to take possession of securities and sell them-The SARFAESI Act 2002 was enacted to plug the loopholes in certain areas in which the banking and financial sector did not have level playing field as [LexDoc Id : 434407]
HC (Karnataka)
2011
Nickunj Eximp Enterprises (P) Ltd. vs Addl. CIT and Ors.
Recovery of tax-Prohibitory orders-A.Y. 2007-08, 08-09.
The appeals against asstt were pending. The assessee had shown it's bona fides. The stay was granted subject to assessee pay [LexDoc Id : 433522]
HC (Bombay)
2011
Cochin Malabar Estates and Industries Ltd. vs UOI and Ors.
Agricultural income-Law applicable-Sale of centrifuged latex-A.Y. 1996-97. The assessee had paid agricultural income-tax on 100% of the income from sale of centrifuged latex. No tax could be levied on any part o [LexDoc Id : 426858]
HC (Kerala)
2011
Madhav Marbles and Granites vs ITAT
Bad debt-Manner of write off-A simple book-keeping entry to write off the same is enough to entitle the assessee to claim deduction of bad-debts. Such an entry was made by assesse [LexDoc Id : 424458]
Jindal Steel and Power Ltd. vs UOI
Maintainability of writ petition: Averments in petition to be read as they were-Merits of averments not to be gone into for deciding issue-For deciding this issue of maintainability of the writ petition, the averments made in the writ petition had to be read as they were and their merits [LexDoc Id : 421572]
Arjun Industries Ltd. and Anr. vs Industrial Development Bank of India and Anr.
Assignment of debt: Company agreeing to assignment in earlier proceedings on condition that assignee to be bound by decision of DRT-Petition challenging assignment dismissed in view of consent recorded-The appellants had filed a petition praying that the bank be restrained from assigning the debt owed by the first appellant-company to any third party [LexDoc Id : 420838]
HC (Delhi)
2011
Hindustan Shipyard Ltd. vs ITO
Fee for technical services - FTS-Suggestion for improvement of infrastructure facility-Ay- 2006-07, 2007-08. The payment made for suggestion to improve infrastructural facility in India was FTS and was taxable in India even if documents [LexDoc Id : 424992]
ITAT (Vishakapatnam)
2011
CIT vs Expeditors International India (P) Ltd.
Disallowance of expenses-Section 40(a)(i) of the Income Tax Act, 1961. Management expenses-Respondent-assessee, engaged in business of supplying chain management, logistics and freight forwarding that is related to movement of goods and carg [LexDoc Id : 569741]
