COMMISSIONER OF INCOME TAX vs. M/S JINDAL STEEL THROUGH ITS MANAGING DIRECTOR

Appeals are hereby dismissed

Bench: HON'BLE MRS. JUSTICE B.V. NAGARATHNA

7 Rs.3.72 per unit for supply to its own industrial units when the assessee was supplying power to the State Electricity Board at the rate of Rs.2.32 per unit. Assessing officer observed that the profit calculated by the assessee (power generating units) at the rate of Rs.3.72 per unit was not the real profit; the price per unit was inflated

NEW DELHI TELEVISION LTD vs. DEPUTY COMMISSIONER OF INCOME TAX

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

7.     Two points have been urged before us by learned counsel for the assessee. It is contended that the Income Tax Officer has no jurisdiction to take proceedings under Sections 147 and 148 of the Income Tax Act because the conditions prerequisite for making the reassessments were not satisfied. The re­assessments were made with reference to clause (b) of Section

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

purchase of SILs for import of bullion and subsequently selling them in the local market. Shri Mahendra Shah stated that he had sold bogus SILs to the importer company. Shri Rasiklal Mehta stated that he and one AtuI Garodia met one Shri D.R. Gulati in Bombay who told that he could provide bogus SIL for which he would charge

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

7 (2012) 206 Taxaman 254 (Delhi) 18 “38. Even in that instant case, it is projected by the Revenue that the Directorate of Income Tax (Investigation) had purportedly found such a racket of floating bogus companies with sole purpose of lending entries. But, it is unfortunate that all this exercise if going in vain as few more steps which should