GAP International Sourcing India (P) Ltd. vs DCIT
Penalty: Concealment of income-Method of depreciation-The assessee computed book-profits as per accounts prepared under Part II & III of Sch. VI of Company’s Act. The AO took higher income by adopting dif [LexDoc Id : 400699]
CIT vs West Bengal Infrastructure Development Finance Corpn. Ltd.
Condonation of delay in appeal-Huge stakes involved-There was delay in filing appeals by department. In view of the huge amount of tax involved, the high court should have decided on merits, though cost [LexDoc Id : 399981]
CCE vs Pepsi Foods Ltd.
Criminal intent or mens rea necessary constituent-Imposition of penalty under s.11AC impermissible if no fraud or suppression or misstatement alleged by revenue-In order to attract the penalty provision under s.11AC of the Central Excise Act 1944 criminal intent or mens rea was a necessary constituent. In the [LexDoc Id : 399571]
Raja Khan vs U.P. Sunni Central Waqf Board and Anr.
Appeal against order of Supreme Court: Expunction of certain remarks made in earlier judgment-Observations made in order not sweeping, Distinction made between those who were taking care of their reputation and those who were not-In an application praying for expunging certain remarks made in an earlier judgment, the Supreme Court held that there were many excellent judges of t [LexDoc Id : 399564]
