Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: list of goods taxed at 4% :: form 3cd :: TDS :: ACCOUNTING STANDARDS :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: empanelment :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: articles on VAT and GST in India
 
 
« From the Courts »
  Avtec Limited Vs. Dy. Commissioner Of Income Tax
 Avtec Limited Vs. Dy. Commissioner Of Income Tax
  Indus Towers Limited Through: Its Authorised Signatory Mr. Amish Mehta, Chief Financial Officer Vs. Deputy Commissioiner Of Income Tax, Circle- 11(1) & Anr.
 ITO vs. Gravity Systems Pvt. Ltd (ITAT Delhi)
 Mehsana District Central Co-op Bank Ltd vs. ACIT (Gujarat High Court)
 ACIT vs. Vireet Investment Pvt Ltd (ITAT Delhi) (Special Bench)
  B.A.Mohota Textiles Traders Pvt. Ltd vs. DCIT (Bombay High Court)
 Principal Commissioner Of Income Tax, Delhi-1 Vs. Amadeus India Pvt. Ltd.
  AAA Paper Marketing Ltd vs. ACIT (ITAT Lucknow)
 CIT vs. Mettler Toledo India Pvt. Ltd (Bombay High Court)
 B.A.Mohota Textiles Traders Pvt. Ltd vs. DCIT (Bombay High Court)

CBI: Nothing new in Income tax tribunal order
January, 05th 2011

Notwithstanding the Income Tax Appellate Tribunal's order that stated Rs.41.2 crore was paid as kickbacks to the late Win Chadha and Italian businessman Ottavio Quattrocchi in the Bofors gun deal, the CBI on Tuesday reiterated its stand to close the case in the public interest.

Chief Metropolitan Magistrate Vinod Yadav had scheduled the case for pronouncement of judgment on the CBI's closure report but deferred it when advocate Ajay Agarwal urged the court to have a fresh look at it in the wake of the Tribunal order. Additional Solicitor-General P.P. Malhotra said there was nothing new in the Tribunal order as all the details mentioned in it were referred to in the charge sheet too. When the CMM asked Mr. Malhotra if he had got any fresh instruction after the Tribunal order, he replied in the negative.

Mr. Agarwal said the Union Law Minister gave a statement, saying the government would have a fresh look at the case in the light of the Tribunal order. When the CMM sought a reply from Mr. Malhotra, he said he was not aware of any such statement.

The CBI has sought closure of the case on five counts. It said 23 years had passed from the date of the alleged offence and more than 10 years elapsed after the registration of the case; (b) all the co-accused had either died or proceedings against them quashed, including against Messrs A.B. Bofors and the alleged beneficiaries of the contract for supply of Bofors guns, by virtue of the judgments of the Delhi High Court, and no appeals were preferred by it either against the order of Justice (retd.) J.D. Kapoor or the judgment of Justice (retd.) R.S. Sodhi of the Delhi High Court; (c) even though there is an undertaking by Messrs A.B. Bofors prior to entering into the contract that they do not have any representative/agent specially employed in India, the original contract does not provide for any prohibition for employment or non-employment of Indian or foreign agents and full payments in regard to the contract were paid to Ms. A.B. Bofors even after the lodging of an FIR and no steps to recover any monies were adopted against them; (d) in view of the judgment of Justice Kapoor, any allegation of corruption or conspiracy with regard to public servants is knocked out; (e) and in any event, the attempts to secure the presence of Mr. Quattrocchi had failed.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Achievements

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions