Back
N.BARATHVAJA SANKAR, GEORGE K.GEORGE
KLN Agrotechs (P. ) Ltd. – Appellant
Versus
Income-tax Officer – Respondent
George George K., Judicial Member - This appeal preferred by the assessee is directed against the order of the Commissioner of Income-tax (Appeals)-A, Bangalore, dated August 1, 2011 in relation to the assessment year 2007-08.
Briefly stated, the facts are as follows :
2. The assessee is a private limited company. It is engaged in the business of manufacturing and trading of refined edible oil. The return of income was filed for the impugned assessment year on March 29, 2008, declaring a net loss of Rs. 6,82,787. The return was processed under section 143(1) of the Act. The assessment was taken up for scrutiny by issuance of notice under section 143(2) of the Act. Scrutiny assessment order was completed under section 143(3) of the Act vide order dated December 30, 2009. The Assessing Officer determined the total income at Rs. 2,24,79,870. The Assessing Officer made the following additions to the returned income :
(a) Computed the capital gains on the sale of factory building, borewell, and plant and machinery after providing for notional depreciation for the unused assets (unused since February 6, 2003).
(b) Disallowing interest under section 43B to the extent of Rs. 1,93,96,881 c
The main legal point established in the judgment is the binding effect of the settlement between the parties, the waiver of the right to seek re-employment by the workmen, and the entitlement of the ....
A lockout is justified if it is declared in response to an illegal strike or a strike that is in breach of a settlement or award.
The combination of eyewitness testimonies, recovery of the weapon used, and forensic examination results can establish guilt in criminal cases, even based on circumstantial evidence.
The conviction of an accused person under Section 27(3) of the Arms Act is not permissible in law if the accused is also charged with committing murder under Section 302 of the Indian Penal Code.
The court can enhance compensation based on the deceased's income and family dependency, and adjust the multiplier used by the Tribunal if found unjustified.
A valid signature must be in the candidate's own handwriting, as emphasized by the General Clauses Act and relevant case law.
An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers
Please visit our Training & Support
Center or Contact Us for assistance
Scan Me!
India’s Legal research and Law Firm App, Download now!
For Daily Legal Updates, Join us on :
Back to top
