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Judgment Search Results Home > Cases Phrase: indian partnership act Year: 2007 Page 29 of about 291 results (0.068 seconds)

Apr 11 2007 (TRI)

Shivam Overseas, Shri Harjit Vs. Cc

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi

Decided on : Apr-11-2007

Reported in : (2007)(118)ECC273

..... records, show cause, statements of persons and in the discussions and findings given in the impugned order, no act of omission or commission has been brought out regarding the appellant, a partnership firm. hence penalties imposed are illegal. 5(b) the third appellant sri narayana rao ajay kumar pleaded that ..... of the first samples were drawn as per procedure and sent to the laboratory had confirmed the quality of the declared goods. therefore, the indian origin is also confirmed. (h) the adjudicating authority has held that the panchnama does not seem to be reliable as there was contradiction in ..... carried out in the presence of two punch witnesses. the examination revealed that the consignments contained old, used, torned, shopsoiled garments which are not of indian origin. these are incorrect. the facts are otherwise brought out in the cross-examination of the departmental officers and the same had been reproduced in ..... this account also the order narrates to be set aside. (1) the show cause notice proposes confiscation under section 113(d)(h) of the customs act, 1961 and not under section 113(h) thereby confirming that there was no mis-declaration. since section 113(d) has been invoked, it implies ..... examined under siib supervision, passed in full and test reports also confirmed the quality and let export order under section 51 of the customs act passed on 2.12.1999 by the proper officer. (f) the description given in the show cause notice regarding the garments which were examined .....

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Nov 01 2007 (TRI)

M.L. Arora Vs. Green Vallay Frozed Food Ltd. and

Court : Company Law Board CLB

Decided on : Nov-01-2007

Reported in : (2008)215CTRNULL320

..... petition should be relating to the rights qua a member. it is only in the case of family companies or companies in the nature of partnership, denending on the facts of the case, directorial complaints have been adjudicated by this board in sections 397/398 proceedings. in this view of ..... by transferor and transferee with original certificates and thus, transferred the shareholding. it was pointed out that the petitioner had used his resignation letter with the indian bank in order to get his collateral security (equitable mortgage) of his house no. f-3/20, model town, delhi, released. he had ..... have not produced the original share certificates to prove their contention that the petitioner does not have the necessary qualification under section 399 of the act or that he is not a member or a shareholder of the respondent company. on the other hand, the petitioner did produce the ..... their place fresh certificates were issued to the shareholders which can no way can be in compliance with the provisions of section 108 of the act read with article 50 of articles of association of the company. further, their contention that the petitioner being its managing director he might have ..... affairs of the respondent company has also been sought.5. it was contended that the petitioner has the requisite qualification under section 399 of the act. the petitioner is admittedly holding 25% of the equity share capital before the impugned transfer of was placed upon the various judgments .....

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Feb 28 2007 (TRI)

Narang Overseas Pvt. Ltd. Vs. the Acit

Court : Income Tax Appellate Tribunal ITAT Mumbai

Decided on : Feb-28-2007

..... dispute arose between the members of narang family in respect of the properties owned and held by the individual members of the family as well as through various partnership firms and companies promoted by the members. a family settlement was arrived at on 12.07.1990 which, inter-alia, provided that rajesh narang shall take ..... by the assessee huf and the same was treated as deemed dividend in the hands of assessee huf under section 2(6a)(e) of the indian income-tax act, 1922 (1922 act) by the ito for assessment years 19s5-56 and 1956-57. the order of the ito was confirmed by aac as well as the tribunal ..... question: whether, on the facts and in the circumstances of the case, and on a true interpretation of the terms of section 2(6a)(e) of the indian income-tax act, 1922, the tribunal was right in holding that the amounts of rs. 2,21,702 (gross) and rs, 3,43,505 (net) were taxable ..... of rs. 40,000 was not taxable as revenue receipt. however, the commissioner of income-tax assumed the revisionary jurisdiction under section 263 of income-tax act, 1961 (the act) and held that such sum was taxable in the hands of the assessee. on appeal, the tribunal held that the aforesaid sum was not a ..... case of p. mariappa gounder, 147 itr 677 holding that mesne profit received by the assessee was revenue receipt chargeable to tax under the income-tax act, 1961 (the act.) got merged in the subsequent judgement of the hon'ble supreme court which is reported as 232 itr 2 (sc) and consequently the mesne profit .....

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Jun 29 2007 (TRI)

Vijay Industries Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Jaipur

Decided on : Jun-29-2007

Reported in : (2007)112TTJ(JP.)353

..... by the ao at 27.3 per cent.4. we have heard the parties. the brief facts of the case are that the assessee is a partnership firm engaged in export of large types of pvc wires, which have been manufactured by the assessee. a comparative chart of the total turnover, gross ..... in respect of profits retained for export business is provided under section 80hhc(1) which reads as under: 80hhc(1) : where an assessee, being an indian company or a person (other than a company) resident in india, is engaged in the business of export out of india of any goods or merchandise ..... deduction claimed by the assessee under section 80hhc has to be allowed without any reduction by the amount of deduction of any other provision of the act. the learned department representative has not opposed the arguments of learned authorised representative that the revenue has not made any disallowance in the past and ..... the decision of mrs. bacha f. guzdai v. cit . it is clear, therefore, that the words 'derived from' in section 80hh of the it act, 1961, must be understood as something which has direct or immediate nexus with the appellant's industrial undertaking. although electricity may be required for the purposes ..... the merits, the decision of the high court in adopting the reasoning given in pandian chemicals ltd. 's case (supra). section 80hh of the it act grants deduction in respect of profits and gains 'derived from' an industrial undertaking. the contention of the appellant before us is that interest earned on the .....

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Oct 29 2007 (TRI)

Enercon Gmbh Vs. Enercon (India) Ltd. and ors.

Court : Company Law Board CLB

Decided on : Oct-29-2007

Reported in : (2008)143CompCas687

..... out of the company. accordingly, by a letter dated 5.3.2007, the respondent no. 36 wrote to the appellant "as a result, we agreed upon that termination of our partnership in the company by mutual consent will be the best solution for both parties. the termination should be executed in a fair reasonable manner. a detailed proposal on the two ..... to meet with the production. by a communication dated 26.8.2006, the petitioner guaranteed continuous material supply. by a communication dated 10.6.2006, the petitioner had complemented its indian colleagues for the petitioner getting a rating of "capital a+". however, all of a sudden, in feb. 2007, the petitioner stopped the supply of material/components and while receiving ..... -emption rights and directorship are covered under the terms of sha, the application is not maintainable and is accordingly dismissed.11. having dismissed the application under section 8 of the act, now i shall deal with the interim reliefs. at the time of mentioning the petition, giving an overvall view of the allegations contained in the petition, shri sarkar sought ..... have considered the arguments on this application carefully. to determine whether the parties should be referred to arbitration, it is necessary to examine the relevant provisions of the arbitration & conciliation act 1996. section 2(1)(b) "arbitration agreement" means an agreement referred to in section 7. section 7: "arbitration agreement-(1) in this part, "arbitration agreement" means an agreement by .....

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Sep 21 2007 (TRI)

ito Vs. Gurdip Singh

Court : Income Tax Appellate Tribunal ITAT Delhi

Decided on : Sep-21-2007

..... from various companies in which he is a director. he also receives income from house property, income from business in the form of interest from partnership firm and income from other sources. during the year the assessee has also declared long-term capital loss on sale of house property.3. ..... in the case of v. damodaran (supra),that case was with reference to section 2(6a)(e) of indian income tax act,1922.however the clause 'accumulated profit' was not defined under the1922 act as is now defined in explanation 2 below section 2(22). hon'ble supreme court also noted the ..... "accumulated profits" shall mean profits in the commercial sense and not an assessable or taxable profits liable to tax as income computed under the 1922 act.but in the present case the assessing officer has merely taken the accumulated profits as appearing under the head 'reserves and surplus' as per the ..... that the amount borrowed in earlier year was utilized for purchase/ acquisition of property income from which is offered under section 23 of the act.he also failed to file before us any document that such amount was allowed as deduction in earlier years. no nexus is established between borrowal ..... on the amount borrowed and which is utilized for acquiring/constructing/repairing the property, the income from which is assessable under section 23 of the act. since the assessee has not produced material to suggest that the amount which was borrowed, was utilized for acquisition/constructing of property, the deduction .....

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May 18 2007 (TRI)

Seb S.A. ( Formerly Moulinex S. A.) Vs. M/S. Moulimex Enterprises (Ind ...

Court : Intellectual Property Appellate Board IPAB

Decided on : May-18-2007

..... trade mark. on his own showing when the trade mark had been invented and owned by one v. and had also been used by the partnership firm, the appellant can not claim to be the proprietor unless he place materials to substantiate how he became the sole proprietor of the trade ..... of the extensive advertisements and publicity. such a trader could obtain injunction in a court where he was not trading to protect his reputation. the indian courts also recognise the existence of trans-border reputation. the above decision was confirmed by the division bench of the delhi high court in appeal ..... on record while discussing the appellants objection under section 11(a) of the act. the respondent no.2 ought to have taken into consideration that evidence on record by which he would have certainly arrived at an altogether different ..... . 7. learned counsel for the appellants contended that the respondent no.2 erred by overruling the appellants objection under section 11(a) of the act on the ground that the appellants have failed to prove the user of their mark. she submitted that the appellants had filed voluminous documentary evidence ..... trade mark filed by the respondent no.1. the high court of delhi has, in pursuance of the provisions of section 100 of the trade marks act, 1999, transferred the appeal to the intellectual property appellate board and the appellate board has renumbered the same as ta/216/ 2004/tm/del. .....

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May 30 2007 (TRI)

Commissioner of Central Excise Vs. Mangalam Cement Ltd.

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi

Decided on : May-30-2007

Reported in : (2007)7STR673

..... the 25th of the month immediately following the said calendar month. provided further that where the assessee is an individual or proprietary firm or partnership firm, the service tax on the value of taxable services received during any quarter shall be paid to the credit of the central government ..... industries ltd. v. cce indore, reported in 2006(3) str 14, more particularly on paragraphs 8 and 9 of the judgment and the decision in indian farmers fertilizer co-op. ltd. v. cce, bareilly, reported in 2007(5) str 281, more particularly on paragraph 18 thereof.he submitted that ..... after their petitions were dismissed. we are, therefore, not inclined to restore the penalty imposed on the present respondents under section 76 of the act. subject to this modification in the order-in-original, we allow the appeals of the revenue and set-aside the impugned order of the commissioner ..... he may be liable by virtue of the validating law. he submitted that only the actions and proceedings initiated before the amendment of finance act, 2000 may be proceeded with and no fresh proceedings can be initiated under the validating provisions because, section 117 protected and validated any action ..... group of writ petitions including that of respondents-assessees, the challenge against the constitutionality of the provisions of sections 116 and 117 of the finance act, 2000 was in issue. he submitted that merely because the constitutionality validating of the provisions was upheld, it cannot be inferred that the .....

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Feb 02 2007 (TRI)

Shri Tapas Sinha Roy and ors. Vs. Linkmen Services Pvt. Ltd. and

Court : Company Law Board CLB

Decided on : Feb-02-2007

Reported in : (2008)141CompCas568

..... e) applies equally to all shareholders without discrimination. simultaneously, its consequential benefits are also enjoyed equally (by way of dividends) by every shareholder.shareholders/cable operators are in virtual 'partnership' with each other and a defaulter has to be weeded out by invoking clause 7(e) to protect the interest of the company and its shareholders. thus, incorporation of ..... paid directly to mso for which the mcr felt that those operators were rivals. it was argued that the petitioner no. 11 has paid directly to icnci i.e. indian cable net company ltd. (mso) when it was detected that there was ambiguity in the billing system. the petitioner no. 11 himself sent several correspondences to the mcr company ..... provision for such amendment) in the present case retrospective effect of the amendment cannot deprive the petitioners' of their right of reasonable opportunity of being heard. the respondents' act is vitiated and required to be set aside to do substantial justice between the parties. further, the respondents had alternative remedies available if the members ceased business with them ..... respondent company and in particular the respondent no. 2 as the managing director owed fiduciary duty towards the petitioners in issuing the fresh share certificates. the said respondents had acted in breach of their fiduciary duties in not issuing fresh share certificates in favour of the petitioners. further it was argued that the respondents have illegally changed the registered .....

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Dec 20 2007 (TRI)

Shri Vinod Behari Jain, Smt. Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Decided on : Dec-20-2007

..... . zakkan begum, respectively.4. briefly stated, the facts relating to the issues involved in these appeals are that the assessees enjoyed income from share in partnership firm m/s s.j. transformer. in the course of investigation, in the case of above firm, it was noticed that the assessees have introduced ..... by way of gifts through normal banking channels was not genuine and that it was liable to be assessed under section 68 of the income-tax act, 1961? 19. in this case, the assessing officer in his order while taking into consideration the statements of the donor and donee and other ..... 20 lakhs treating all these gifts as non-genuine, holding that initiation of proceedings by the assessing officer against these assessees under section 147 of the act was valid by passing detailed orders. we may mention here that in the case of assessee, shri sanjog jain, though the assessing officer made addition ..... circumstances, the assessing officer treated the entire gift transactions in the case of the assessees as non-genuine and made additions under section 68 of the act.8. aggrieved with the orders of the assessing officer, the assessees filed respective appeals before the cit (a) who in the case of assessee, ..... rate, without prejudice very 3. in the remaining effective grounds the assessees have challenged the confirmation of additions under section 68 of the income tax act, 1961, in respect of gift of rs. 5 lakhs received by the assessee shri vinod behari jain from shri qayyum khan; rs. 5 lakhs .....

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