Bajaj Auto Ltd.

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He has also done FRM. Joshi has done B.

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Economics from Mumbai University and has more than 37 years of teaching and research experience in the field of open economy, macroeconomics, international finance and development economics. She has authored various books, articles and project reports relating to economics. She has also received various national and international awards for her contribution in the field of economics. He has been elected as a member of Central Council of the Institute of Chartered Accountants of India for the term and is a member of various standing and non-standing committees of ICAI.

Joshi has done B. Krishnamurthy Vijayan holds a Masters degree from Ravishankar University. Prior to that, Mr. Richard Mendonca has over three decades of experience in the functional areas of Accounting, Auditing, Compliance, Secretarial and Finance.

He has held various senior finance and related positions in a number of esteemed organisations — mainly multinational companies like J. Walter Thompson, Pennzoil India Ltd. His experience spans various types of industries which include engineering, lubricants, welding, ball bearing ,advertising and communication.

Walter Thompson located at Mumbai. In his current role he oversees a team which is involved in data collection and analysis of some of J. Richard is a B. Padmaja Chunduru has over 3 decades of experience in State Bank of India SBI in all key business areas, with extended exposure in corporate credit and international banking.

Fathi is a Chairman on the Board of various Companies viz. He has also handled fraud investigations in a co-operative bank, public company, investigation in a public interest litigation covering allegation of misappropriation of public issue money, investigation of a person notified by the Custodian under the Special Courts TORTS Act, etc.

Om Prakash Gahrotra has rich experience of over 35 years in various areas. During this period, he was responsible for the introduction of Demat and the Derivative trading in the Indian capital market. He has a very rich experience in the Industry in sales, marketing and training as a professional corporate trainer and conducted numerous corporate training programmes like Management Development Programmes. He was also awarded with the "Bharat Jyoti Award" for his exemplary services in the education sector by India International Friendship Society.

He holds a Board level position in the Bank supervising the businesses of non banking subsidiaries of the Bank. He is entrusted with the role of supervision of 18 Regional Rural Banks sponsored by SBI having more than 5, branches, serving more than 55 million customers. With this feat State Bank of India has joined the league of top 50 banks globally. As Chief General Manager - Bhopal Circle, State Bank of India, he was responsible for managing around branches and handling deposits and advances portfolio of approx.

During his tenure the Bank increased market share in its area of operation and also improved profitability of key businesses by formulating and implementing strategies for effective delivery of products and services with a clear focus on maximizing profits.

He has over 32 years of experience in the Finance industry. Glain has been associated with Amundi since and has worked in various capacities like Secretary General of the Support Department, heading the international development of the Amundi. Ram has done B. He supported the entire range of banking services from Retail Banking to International operations and managed a team of IT professionals.

He had served on committees constituted by the RBI to advise on Cheque Truncation, Technology for Financial Inclusion, setting up of a multi-bank telecommunications network etc. He started his career in as a research analyst at Ajit Vajani Share Brokers. Richard is a Science graduate from Mumbai University. He subsequently became Head of Research and is now an equity fund manager.

Dinesh holds a B. He got an opportunity to cover Telecom, Media and some Capital Goods stocks also later. Shashank had joined us from Citicorp Financial where he worked as an analyst for over a year. Kanchan began her career as a research analyst with JP Morgan in One of the reasons why the advocates are not in a position to render complete assistance to the Court is because they themselves do not have full records.

They do not have the assistance of the official, who can give them instructions. Arguing matter before a Court requires presence of mind. At times, one has to think on toes. More so, when the scales are not evenly balanced. The assessees and their counsel are fully equipped, but the Revenue does not have such degree of competence nor are they efficient enough.

In case of the petitioner the employer for the assessment year while paying salary had deducted tax at source to the tune of Rs. The short question is under such circumstances can the Department seek to recover such amount from the petitioner or whether the petitioner is correct in contending that he had already suffered the deduction of tax, the mere fact that the deductee did not deposit such tax with the Government revenue could not permit the Incometax Department to recover such amount from the petitioner.

A development agreement was executed which enabled the assessee to utilize the land for construction and for sharing of profits. I t is an admitted position that the defaulting party has made the assessee a confirming party in the sale by virtue of such development agreement and a compensation was paid to avoid litigation.

Courts and the Tax Authorities can look into the real purpose of the commercial arrangements and transactions to reach the truth and the transactions having the sole purpose of tax avoidance may be held to be having no effect on the actual tax liability of the tax payer. The Assessing Officer may be correct in pointing out that when the sale consideration as per the sale deed is Rs. However, this is not the cited reason for reopening the assessment. The conclusions being drawn up as a result of enquiry is a highly subjective exercise and as to what is appropriate conclusion is something on which perceptions vary from person to persons.

These variations in the perceptions of the Assessing Officer vis-a- vis that of the Commissioner, cannot render an order erroneous and prejudicial to the interest of the revenue.

We find that this is an attempt to get over the binding Circulars and in any case we shall not allow the Revenue to get over them in this manner.

The Circulars continue to bind the Revenue and if they contain any conditions, whether such conditions are attracted or not would have to be proved and established by the Revenue. Once there is no such record before us, we do not countenance the oral request of Mr. Consequently, we do not see any reason to entertain this appeal. He has to explain with sufficient detail the source of all the deposits in his accounts as well as the corresponding destination of all payments from the accounts.

The Assessee should be able to show that money has been transferred through banking channels from the bank account of creditors to the bank account of the Assessee, the identity of the creditors and that the money paid from the accounts of the Assessee has returned to the bank accounts of the creditors. The Assessee has to discharge the primary onus of disclosure in this regard.

Thus, if the assessee claims the expenditure in that year, the Department cannot deny it. Supernova System Private Limited vs. Akil Kureshi J , B.

September 29, Date of publication AY: The expression "amount sought to be evaded" in CBDT's compounding guidelines dated Colabawalla J , S. There is no discipline in the manner the Dept conducts matters.

The Dept should not take legal matters casually and lightly. Kunal Bothra Recos 22 Nov , Sagar Doshi Recos 22 Nov , Kunal Bothra Recos 15 Nov , Nooresh Merani Recos 18 Oct , Shrikant Chouhan Recos 13 Oct , Kunal Bothra Recos 18 Sep , Kunal Bothra Recos 12 Jul , More Bajaj Auto Recos. Auto stocks rise on September sales numbers News 01 Oct , Stock investors lose Rs 2.

A chance to buy! Sensex logs biggest drop since March, plunges pts; Nifty below 11, News 10 Sep , Sensex gains pts, Nifty50 settles at 11, News 07 Sep , Bajaj Auto to up 3-wheeler, quadricycle capacity to 1-million a year News 06 Sep , Bajaj Auto to expand 3 wheeler and quadricycle capacities to 1 million a year as government announces no-permit regime News 06 Sep , Bajaj Auto Updates Announcement. ET Buzz on Bajaj Auto.