Click Here For Best Books On Taxation & Law. Upto 60% Off On Select Titles. Free Shipping & Pay On Delivery!
 

Click Here To Subscribe To Our Free Newsletter

Home › All Judgements › M/s Sainath Enterprises vs. ACIT (ITAT Mumbai) (Third Member)

M/s Sainath Enterprises vs. ACIT (ITAT Mumbai) (Third Member)

Posted on by editor — No Comments ↓
COURT:
CORAM:
SECTION(S): ,
GENRE:
CATCH WORDS:
COUNSEL:
DATE: November 18, 2016 (Date of pronouncement)
DATE: November 25, 2017 (Date of publication)
AY: 2007-08
FILE: Click here to download the file in pdf format
CITATION:
Withdrawal of appeal: The Petitioner/ Plaintiff is the ‘dominus litis’ and it is open to him to pursue or abandon his case. Withdrawal cannot be denied except when the person making the prayer has obtained some advantage/ benefit which he seeks to retain

Withdrawal of appeal: The Petitioner/ Plaintiff is the ‘dominus litis’ and it is open to him to pursue or abandon his case. Withdrawal cannot be denied except when the person making the prayer has obtained some advantage/ benefit which he seeks to retain

Related Posts:

  • Oricon Enterprises Limited vs. ACIT (ITAT Mumbai) In the present case the consideration was not money but equity shares and debentures and hence the transaction was not a "Sale" but an "Exchange" and consequently, the provisions of Section 50B of the I.T. Act, are not attracted. In the case of CIT vs. Bharat Bijlee Ltd. (365 ITR…
  • D.S. Corporation vs. ITO (ITAT Mumbai) (Third Member) The partnership firm continued to exist even after the retirement of Smt. Hemlata Shetty and Shri Sudhakar Shetty from the partnership. There was only a reconstitution of partnership firm on their retirement without there being any dissolution and the land properly acquired by the partnership firm continued to be owned…
  • V.R.Enterprises vs. ITO (ITAT Mumbai) The assessee was in possession of primary purchase documents and the payments to the suppliers was through banking channels. The assessee had established corresponding sales before Ld. AO. The books of accounts were audited wherein quantitative details of stock was provided. We are of the considered opinion that there could…
  • Perfect Thread Mills Ltd vs. DCIT (ITAT Mumbai) (Third Member) I thus agree with the view taken by the learned Judicial Member that the consideration from sale of property to the extent of principal component of loan adjusted by the bank cannot be treated as ‘diversion of income by overriding title’ and was thus not deductible from the total consideration…
  • HPCL Mittal Energy Ltd vs. ACIT (ITAT Amritsar) (Third Member) When the AO is satisfied that it is a clear-cut case of concealment of particulars of income, he must specify it so in the notice at the time of initiation of penalty proceedings and also in the penalty order. The AO cannot initiate penalty on the charge of `concealment of…
  • Orbit Enterprises vs. ITO (ITAT Mumbai) Notably, Sec. 292BB of the Act has been inserted w.e.f. 01.04.2008 and is understood basically as a rule of evidence. The implication of Sec. 292BB of the Act is that once the assessee appears in any proceedings or has co-operated in any inquiry relating to assessment or reassessment, it shall…

Related Judgements

  1. Sumanlata Bansal vs. ACIT (ITAT Mumbai) (Third Member) 

    There is no specific provision in the Act requiring the assessment made under section 153A to be after issue of notice under section 143(2) of the Act. Learned counsel for the assessee places heavy reliance on the judgment of the Hon‟ble Supreme Court in Hotel Blue Moon v. DCIT…
  2. Mangalam Drugs & Organics Ltd vs. DCIT (ITAT Mumbai) 

    It is further noted, from the perusal of penalty order, that the penalty has been levied, on all the additions/disallowances, in a ‘whole sale’ manner. The AO has not given his findings, for levying the penalty, for each issue separately, with respect to the satisfaction of the AO for…
  3. Dimension Data Asia Pacific Pte Ltd vs. DCIT (ITAT Mumbai) 

    The Tribunal granted 100 percent stay of demand because (a) The assessed income was more than 10 times the returned income. (Instruction 96 of 1969 was relied upon) & (b) The stand taken by the AO was at variance with the stand taken by TPORead more ›
  4. DCIT vs. Fritz D. Silva (ITAT Mumbai) 

    Interest payable on moneys borrowed for acquisition of shares should be added to the cost of acquisition of shares for the purpose of computing capital gains (Macintosh Finance Estates Ltd vs. ACIT (2007) 12 S0T 324 (Mum) (Trib) not followed, CIT vs. Trishul Investments Ltd (2008) 305 …
  5. Dilip Manhar Parekh vs. DCIT (ITAT Mumbai) 

    The demolition of the structure would not constitute a transfer of the assets in terms of Section 54(3) of the Act in view of the decision of the Apex Court in the matter of Vania Silk Mills P. Ltd. v. CIT, reported in 191 ITR 647. In the above…

Leave a Reply

Your email address will not be published. Required fields are marked *

*