proceeding on a factually incorrect basis that the switchgear division of
Indo Asian Fusegear Limited was amalgamated with the appellant without
appreciating the fact that ... appellant had acquired the said division
through a slump sale from Indo Asian Fusegear Limited and therefore the
entire foundation of the order passed
penalty for infraction of law. In CIT vs. Indo
Asian Switch-Gears (P .) Ltd. (1996) 222 ITR 772, the Hon'ble Punjab &
Haryana
Import entitlements'.
11. The Tribunal Special Bench, Delhi in Indo Asian Switchgears (P.) Ltd. v. I AC [1985] 12 ITD 65, has exhaustively discussed
Indo Asian Fuse Gear KVS ST 3 8
41 05-Feb-07 28-Sep-07 Igate Global
Officer [AO] that he entered into
development agreement with M/s. Indo Asian Buildcon Pvt. Ltd.
[hereinafter referred to as the "company ... which capital
gain arise was purchased on behalf of the company Indo Asian
Buildcon Pvt Ltd. Hence, treating the transfer as capital gain
and thereby
Novateur
Electrical & Digital System Private Limited (NEDSPL) formerly known as
Indo Asian Electric Private Limited).
LIPL was engaged inter-alia engaged in the business
relied upon the cases of Jamna Auto
Industries(167 Taxman 192),Indo Asian Switchgears Private Ltd. (222 ITR 757)
and Microsoft Corporation of India Private
nature of said payment falls within Article-7 of Indo-Malaysian
DTAA as Insight Asian Pacific to whom payment was made was doing
business ... there was a business income of Insight Asian Pacific and is
covered under Article 7 of Indo-Malaysian DTAA. Even the certificate given
5679/MUM/2010(A.Y. 2005-06)
CIT Vs. Asian Star Co.Ltd . 326 ITR 56 (Bom), Tuticorin Alkali Chemicals &
Fertilizers ... DCIT 274 ITR 21 (Bom), Commissioner of Income-tax Vs. Indo Swiss Jewels
Ltd. 284 ITR 389 (Bom), CIT Vs. Lok Holdings
Delhi High Court in the case of Indo Rama Synthetics (I) Ltd. vs. CIT 333 ITR
18. The learned counsel also relied upon the decision ... 2004 dated 13.12.2007.
5 ITA No. 408/Mum/2010
M/s. Asian Paints Ltd.
- CIT vs. Indian Rare Earths
