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: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: Central Excise rule to resale the machines to a new company :: empanelment :: TDS :: VAT Audit :: form 3cd :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: ACCOUNTING STANDARD
 
 
« From the Courts »
  Vatsala Shenoy vs. JCIT (Supreme Court)
  Vatsala Shenoy vs. JCIT (Supreme Court)
 M.K.Overseas Pvt. Ltd. Vs. Pr.Commissioner Of Income Tax-06
 Arshia Ahmed Qureshi Vs. Pr. Commissioner Of Income Tax-21
 CHAUDHARY SKIN TRADING COMPANY Vs. PR. COMMISSIONER OF INCOME TAX-21
  Sushila Devi vs. CIT (Delhi High Court)
  Vatsala Shenoy vs. JCIT (Supreme Court)
 Deputy Director Of Income Tax Vs. Virage Logic International
 Commissioner Of Income Tax-3 International Taxation Vs. Virage Logic International India
 Pr. Commissioner Of Income Tax-06 Vs. Moderate Leasing And Capital Services Pvt. Ltd.
 ITO vs. Vikram A. Pradhan (ITAT Mumbai)

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 2016 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