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...SANJIV KHANNA, J. (ORAL)This appeal by the Revenue, which pertains to the assessment year 2006-07, in the case of Agnity India Technologies Pvt. Ltd. raises a short issue. The respondent-assessee is a wholly owned subsidiary of Bay Packets Inc., USA and was/is engaged in the business of development of software for the parent company in the field of telecommunication. The respondent had filed return of income on 30th November, 2006 declaring total income of Rs. 8,31,720/-. As respondent-assessee had undertaken international transactions with “Associated Enterprise” details of which were mentioned in the tax audit report, the matter was referred to Transfer Pricing Officer (TPO) to determine the fair market value of the international transactions. TPO opined that adjustment of Rs. 3,73,74,985/- would be justified to bring it in line with arm's length value. Addition of the aforesaid amount was suggested in the draft assessment order which was examined by the Dispute Resolution Panel before whom the respondent-assessee had filed objections. Dispute Resolution Panel vide order dated 17 June, 2010 directed the Assessing Officer to recompute the arm's length value by taking the ratio of operating profit to the total cost at 25.6%. This resulted in an addition of Rs. 1,24,01,451/-.3. Before the TPO, the respondent-assessee was asked to re-work the list of comparables and the same was reduced to 20. TPO also directed inclusion of Infosys Technolo...

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...I \ ' t ' i l 8 COr R t ' ( ) t l l l s ' l ' l t l ( ' t ' ( l oNS t \ l [ ' l { D l.... : 961 l l l 9 !.Q}]ll .r\ lN;\\1.:i : I . . la r cs l t Pant l5 a Sccrctat) ' o l ' ' l ' rus, lL rcgistercd r t t lc ict ' \/ i lcloclafa (irahak Su..., . Sapr-ra ConrPlcx' Nlar l lhat ia Pct ro l l )u tnP I I arr .r i l lo;r t l . \ ' l id ' r ' . i : t t ' l ' l .2. I ) ipr ikabcn l \4clerb...

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...Ajay Rastogi, J.— The instant appeal is directed against the impugned judgment and order dated 27-6-2019 passed by the Division Bench of the High Court of Karnataka at Bengaluru in Trishul Developers v. L & T Housing Finance Limited 684, (2019) 201 AIC 469 wherein the High Court while reversing the finding returned by the Debt Recovery Appellate Tribunal in its order dated 16-4-2019, upheld the order of the Debt Recovery Tribunal dated 23-3-2018 quashing the demand notice dated 14-6-2017 served on the respondents (borrower) under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as “the Sarfaesi Act”) followed with the possession notices dated 9-11-2017 and 10-11-2017.2. Brief facts of the case are that the appellant is a Housing Finance Company under the National Housing Bank Act, 1987 and is notified as Financial Institution by the Department of Finance (Central Government) in exercise of the powers conferred by sub-clause (iv) of clause (m) of sub-section (1) of Section 2 of the Sarfaesi Act. The appellant indeed falls within the definition of “secured creditor” under the provisions of the Sarfaesi Act and is entitled to initiate measures under the provision of the Sarfaesi Act for enforcement of security interest created on the secured ass...

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...in three Special Civil Applications (SCAs) Nos. 1568 of 1987, 5149 of 1989 and 5171 of 1991 whereby the High Court set aside the acquisition of land for M/s Larsen and Toubro Ltd. (“L&T Ltd.” for...short) under the provisions of the Land Acquisition Act, 1894 (for short “the Act”) comprised in SCAs Nos. 1568 of 1987 and 5149 of 1989 and dismissed the challenge of L&T Ltd. in SCA No. 5171 of...State Government that lands specified in these notifications which were under challenge in these matters were likely to be needed for the purpose of a housing colony of the L&T Ltd. “which was...

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...P.K Balasubramanyan, J.— These appeals arise from Writ Petition No. 886 of 1997 filed by M/s Larson & Toubro (“L & T” for short) in the High Court of Calcutta...Corporation Limited (hereinafter referred to as “the Power Corporation”) ought to have been awarded to the writ petitioner L & T and the award of the same to Respondent 11 Subhash Projects was...have earned out of the illegally awarded contract and make over the same as compensation to the writ petitioner L & T, who ought to have been awarded the contract. Feeling aggrieved, Respondent...

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