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Judgment Search Results Home > Cases Phrase: debentures companies act Court: income tax appellate tribunal itat kolkata Year: 2003 Page 1 of about 2 results (0.108 seconds)

Apr 29 2003 (TRI)

Joint Commissioner of Income Tax Vs. the Gramophone Co. of India Ltd.

Court : Income Tax Appellate Tribunal ITAT Kolkata

Decided on : Apr-29-2003

Reported in : (2003)87ITD88(Kol.)

..... filed before us, and deliberated upon the applicable legal position as also the factual matrix of this case.10. we find that the company had the discretion to repurchase the debentures before the date of redemption at the market price, and, as such, it could not be said that the assessee had any obligation ..... the market value of the copyrights was more than the value at which the same was transferred to the subsidiary company may not be of any consequence for the purpose of taxation under the it act, 1961. it is well-settled principle of law that income-tax is not chargeable on the income which has ..... opinion between the learned members constituting this division bench, the following question was referred to a third member for his opinion under section 255(4) of the it act, 1961 : "whether, on the facts and in the circumstances of the case, the addition of rs. 4 crores pertaining to the sale consideration of the ..... 52 for assessment of capital gains in respect of transfer made for a consideration less than the fair market value. the said section was deleted by the finance act, 1987, w.e.f. 1st april, 1988. their lordships of supreme court in the case of k.p. varghese v.ito (1981) ito 131 itr ..... there is a difference of opinion between the members, we refer the following question to the hon'ble president, tribunal, under section 255(4) of the it act, 1961: "whether, on the facts and in the circumstances of the case, the addition of rs. 4 crores pertaining to the sale consideration of the .....

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Jan 16 2003 (TRI)

Veena Kanoria Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Kolkata

Decided on : Jan-16-2003

Reported in : (2003)85ITD95(Kol.)

..... will help us by advising and rendering services as follows : (i) raising of funds by way of loans, deposits, intercorporate deposits, placement of shares, debentures etc. by private placement basis or by public issues etc. as may be found conducive. for this purpose you will arrange meetings, negotiations, finalisation of ..... to medium term, perspective and also to purchases shares in big lots with a view of long term perspective to participate in management of companies and/or to earn profits by way of trading on shares in lot.(iii) to advise and help us in offloading shares in lots ..... point of difference of opinion was referred to honble vice-president (kolkata zone) as third member under section 255(4) of the income tax act.in accordance with the majority view after duly taking into account the opinion expressed by the learned third member, we hold that the payment of ..... & co. v. cwt (1996) 217 itr 310 (sc), wherein the honble supreme court has held that an erroneous citation of provision of the act in the assessment order will not invalidate or itself.according to the learned departmental representative, since the demand notice is an accompanying statement of the assessment ..... ,044".(v) "for that learned commissioner (appeals) was wrong in confirming levy of interest under sections 234a, 234b and 234c of the income tax act".(vi) "for that learned commissioner (appeals) was wrong in not admitting additional grounds and confirming the assessment order and demand notice which were not in .....

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