Shopper's Stop Limited - Securities and Exchange Board of India

H) Litigation Pending – Labour, Employees and Trade Unions
There are none disclosed to our company
I) Bank / Financial Institution Defaults
There are none disclosed to our company
J) Non Payment of Statutory Dues and/or dues towards instrument holders such as
debenture holders, fixed deposits
There are none disclosed to our company
K) Disciplinary action taken by SEBI / Stock Exchanges against the Southern
Undivided Entities / business ventures of the Southern Undivided Entities
Not applicable
L) Arrears on cumulative preference shares by the Southern Undivided Entities and/or
companies /firms promoted by the Southern Undivided Entities
There are none disclosed to our company
M) Pending Litigations of companies/firms/ventures with which the Southern
Undivided Entities were associated in the past in case their names continue to be
associated with the particular litigations
There are none disclosed to our company
N) Potential Litigation
There are none disclosed to our company
Against The Southern Undivided Entities
A) Pending Arbitration Proceedings
There are none disclosed to our company
B) Litigation pending – FEMA
There are none disclosed to our company
C) Litigation Pending – Income Tax
Mumbai High Court
Assessment Year – 1992-93.
Asiatic properties limited
The company’s Return was assessed under section 143(3) of the Income-tax Act, 1961.
The AO rejected project completion method of accounting and made additions of
Rs.37,01,403/-. The company filed appeal to CIT (A), bearing appeal No. C-11/AP-
110/95-96 against the order of the AO. CIT (A) rejected the company’s appeal. Against
the order of CIT(A) the company filed appeal before ITAT and ITAT allowed company’s
appeal vide order dated 11 th June, 2003. ( Appeal No.4136/Bom/1998). Aggrieved by
ITAT’s order, the department filed Notice of Motion No.1459 of 2003 dated 24 th May, 2004
in the Mumbai High Court. The Notice of Motion is pending before Mumbai High Court.
Income Tax Appellate Tribunal
Assessment Year 1991-92
Asiatic Properties Ltd.
The company filed an appeal bearing no CIT(A)XL/SR.30/65/94-95 before the CIT (A)
against the assessment order made by the A.O. The CIT(A) granted relief by allowing
interest of Rs.2,97,500/, Motor car expenses of Rs.87,966/- and interest set off against
WIP of Rs.9,79,241/-. through an order dated 7 th November,1994. The Department then
filed an appeal bearing No ITA No 976/M/95 before the ITAT.
Assessment Year 1994-95
Asiatic Properties Ltd.
The company filed an appeal bearing no CIT(A)C.III/IT/16/97-98 before the CIT (A)
against the assessment order made by the A.O. The CIT(A) allowed interest on advance
made to subsidiary company of Rs.5,90,520/- and further allowed deduction for Club
Membership fees of Rs.2,01,100/- through an order dated December, 1, 2000. The
Department then filed an appeal bearing No ITA No 1377/M/2001 before the ITAT .
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