Back
I.P.BANSAL, RAJENDRA
Clariant Chemicals (India) Ltd. – Appellant
Versus
Joint Commissioner of Income-tax (OSD), Range 1(1) – Respondent
I.P. Bansal, Judicial Member :- These are cross appeals and they are directed against order of Ld. CIT(A)-15, Mumbai dated 12/1/2011 for assessment year 2003-04. The grounds of appeal raised by assessee as well as revenue read as under:
Grounds of appeal in ITA No.2393/Mum/201 1(Assessee's appeal):
'On the facts and in the circumstances of the case and in law, the learned Commissioner of Income-tax (Appeals) has erred in confirming the action of Jt. Commissioner of Income-tax in reducing deduction admissible under section 80HHC of the Act on account of following
(i) Reducing 90% of the following income in computing the adjusted profits of the business:
(a) Interest received of Rs. 19,79,277 without netting of the same against the interest paid amounting to Rs.4,06,17,5821- ; and
(b) Duly entitlement pass book receipts of Rs.4,93,68,1361-.
2. On the facts and in the circumstances of the case and in law, the learned Commissioner of Income Tax (Appeals) has erred in confirming the action of Jt. Commissioner of Income Tax I AO/TPO in making adjustment by applying CUP method in case of exports of manufactured goods on account of following:
(i) Applied Comparable Uncontrolled Price ("CUP")
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
