Shree Shailja Iron and Steel (P) Ltd. vs OL, High Court of Uttar Pradesh and Uttaranchal
Powers of court to set aside confirmed sale-Meaningful intervention preventing underbidding during auction through court-The court was empowered to set aside the sale even though it was confirmed for the interests of creditors, contributories and all concerned and/or pub [LexDoc Id : 421490]
CIT vs Modipon Ltd. (No. 1)
Prior period expenses-Year of deduction-The assessee followed the merchantile system of accounts. Some expenses were always booked in the year of settlement. The prior period expenses settle [LexDoc Id : 412327]
Baldev Raj Taneja vs OL
Misfeasance proceedings-Duty of OL while alleging misfeasance-The high court held that if it was proved that a former director or officer had left the company reasonably long before the company went into liquidat [LexDoc Id : 403549]
CIT vs Aicam Engg. (P) Ltd.
Manufacture Industrial undertaking-Erecting industrial equipment-Ay-1986-1987 to 1994-1995, 1995-1996. The assessee was manufacturing and erecting industrial equipment for public companies. It was an industrial unde [LexDoc Id : 401501]
CIT vs Ametak Auto Ltd.
Cash credits-Burden of proof-AY 1998-1999. Whenever, a cash credit is found in books of accounts, the burden is on the assessee to explain the source thereof. The procedure follow [LexDoc Id : 400099]
HC (Punjab and Haryana)
2010
Aggarwal Oil and General Mills Ltd. vs CIT
Penalty: Concealment of income-Concealment of particulars of income, Suppression of receipts-AY 1992-1993. There was finding that the assessee had concealed particulars of income and had suppressed sales of ‘bardana’. The penalty could be levi [LexDoc Id : 399816]
