NEW DELHI TELEVISION LTD vs. DEPUTY COMMISSIONER OF INCOME TAX

Bench: HON'BLE MR. JUSTICE L. NAGESWARA RAO

bogus transactions and that these transactions were done with a view to get the undisclosed income, for which tax had not been paid, back to India by this circuitous round tripping.   4 5 6. The   assessing   officer   relies   upon   the   order   of   the   DRP holding that there is reason to believe that funds received by NNPLC were actually the funds

M/S. KACHWALA GEMS vs. JOINT COMMNR. OF INCOME TAX, JAIPUR

2 declared GP rate of 43.8% (even without considering the value of export incentives) in assessment year 1997-98." Thereafter the books of accounts of the assessee were rejected by the Assessing Officer and he resorted to best judgment assessment under Section 144 of the Income Tax Act. The Assessing Officer in the assessment order mentioned some comparable cases

COMMNR. OF CUSTOMS(PREVENTIVE) vs. M/S. AAFLOAT TEXTILES (I) P.LTD.&ORS

The appeal is allowed

Bench: The Cestat Was To The Order Of Commissioner Of Customs Who Confirmed The Duty Demand Of

Section 114A of the Act was imposed and Rs.50 lakhs was imposed on Shri Mahendra Shah and Rs.25 lakhs each on four other appellants before the CESTAT. 2. Case of the department that the Special Import License (in short ‘SIL’) purchased by the importer from brokers for clearance of gold and silver was forged and, therefore, was not valid

M/S.VIRTUAL SOFT SYSTEMS LTD. vs. COMMISSIONER OF INCOME TAX, DELHI-I

purchase and lease of cinematographic films held to be bogus Rs. 57,51,520.00 (ii) Reduction of claim of depreciation in respect of leasing vehicles from 40% to 20%. Rs. 10,28,462.00 (iii) Unexplained share application money added back as unexplained cash credits under Section 68 Rs. 19,16,000.00 (iv) Lease rentals of cinematographic films held

PRINCIPAL COMMISSIONER OF INCOME TAX(CENTRAL) 1 vs. NRA IRON AND STEEL PVT. LTD. THROUGH DIRECTOR

Bench: HON'BLE THE CHIEF JUSTICE

purchased. The Company had not enclosed their Bank Statement showing the source of fund for share application money. (50,00,000/- Ch. No. 069123 dt. 17.11.2008 & Rs. 40,00,000/- Ch. No. 069124 dt. 17.11.2008 drawn on Deutsche bank. The Company had shown income of Rs. 10,730/- for A.Y. 2009-10 Rs. 90,00,000 invested on 17.11.2008 Return