Skip to content


Judgment Search Results Home > Cases Phrase: income tax act Court: kolkata Page 4 of about 17,162 results (0.071 seconds)

Jul 14 2004 (HC)

income-tax Settlement Commission and ors. Vs. Netaji Chandra Rarhi and ...

Court : Kolkata

Reported in : (2005)1CALLT247(HC),(2005)193CTR(Cal)430,[2004]271ITR514(Cal)

..... above interest by presuming that they have inherent power under section 245d(6) to waive or reduce interest chargeable under sections 234a, 234b and 234c of the income-tax act. however, in ashwani kumar agarwal's case : [1992]195itr861(sc) , the special bench of the settlement commission has held that under section 245d( ..... passed under section 245d(4) on november 27, 1997, in the above case/ cases has waived interest under sections 234a, 234b and 234c of the income-tax act, 1961, for the above assessment years vide page 14 of the said order. while waiving the interest the hon'ble commission has observed as under :interest ..... has been ably argued by both learned counsel. the question is to be looked into within the scope and ambit of section 154 of the income-tax act, 1961. the rectification would be permissible if the case comes within the purview of the scope for rectification as has been settled by various ..... judge had found that rectification sought for in this case by the department does not come within the narrow scope and ambit of section 154 of the income-tax act, 1961, for the reasons given in the said judgment. the department has preferred this appeal in this court.appellant's points :2. mr. ..... the decision in t. s. balaram, ito v. vokart brothers : [1971]82itr50(sc) . the proposition of law is well settled. the income-tax act has not conferred any jurisdiction to review any or either of the authorities under the provisions. the code of civil procedure is not applicable in a proceeding .....

Tag this Judgment!

Dec 05 2003 (HC)

Commissioner of Income-tax Vs. Indra Co. Ltd.

Court : Kolkata

Reported in : (2004)190CTR(Cal)625,[2004]268ITR240(Cal)

..... impugned order was passed dismissing the appeal.6. heard mr. saha, learned counsel for the revenue-appellant, who relied on sections 22 and 23 of the income-tax act, 1961, and contended that the computation of income from the house property in such case should be made taking into consideration the annual rent actually received in respect of the said house property itself. reliance ..... case of mrs. sheila kaushish v. cit : [1981]131itr435(sc) . it has also been pointed out that the provisions of law applicable in respect of the concerned assessment year ..... portions of such property as he may occupy for the purposes of any business or profession carried on by him the profits of which are chargeable to income-tax, shall be chargeable to income-tax under the head 'income from house property'.'the relevant portion of section 23 is as follows :'23. (1) for the purposes of section 22, the annual value of any property ..... also placed on the judgment in the case of cit v. kishanlal and sons (udyog) pvt. ltd. : [2003]260itr481(cal) . 7. mr. j. p. khaitan, learned counsel for the assessee-respondent, relied on the findings of the tribunal as also the provisions of law particularly as contained in section 23 of the income-tax act, 1961. he also relied on the judgment in the .....

Tag this Judgment!

Jun 16 2011 (HC)

National Insurance Co. Ltd. Vs. Commissioner of Income-tax-ii, Kolkata ...

Court : Kolkata

..... or arising to the credit institution in that previous year: provided that any interest in relation to categories of bad or doubtful debts referred to in section 43d of the income-tax act shall be deemed to accrue or arise to the credit institution in the previous year in which it is credited by the credit institution to its profit and loss account ..... the facts and in the circumstances of the case and on a correct interpretation of section 2(7) read with section 2(5) and section 5 of the interest tax act, 1974, the income tax appellate tribunal, b bench, kolkata misdirected itself in law and it adopted a wholly erroneous approach in confirming that the sum of rs.16,97,65,816 representing interest ..... 1. this appeal under section 260a of the income-tax act, 1961 read with section 21 of the interest tax act, 1974 is at the instance of an assessee and is directed against order dated 19th december, 2003 passed by the income-tax appellate tribunal, b bench, kolkata, in interest tax appeal no.11(cal) of 1997 relating to the assessment year 1992-93 dismissing the appeal field by ..... loans and advances and accordingly held such interest to be part of chargeable interest. d) being dissatisfied, the appellant preferred an appeal under section 15(1) of the act before the commissioner of income-tax (appeals) and the said authority by order dated 20th january, 1997 dismissed the same thereby holding that call money and bills rediscounting scheme with banks could not be .....

Tag this Judgment!

Jan 28 2008 (HC)

Dipendra Mohan Sen and ors. and Voice of People and anr. Vs. the State ...

Court : Kolkata

Reported in : (2008)2CALLT139(HC),2008(1)CHN1017

..... the guild, has laid a great deal of stress on the fact that guild is not a profit making organization. it is exempted under section 80(g) of the income tax act. therefore, according to the learned counsel the guild cannot be accused of wanting to hold the fair for their own private interests. learned counsel submitted that the writ petition ..... society. respondent no. 13 is an association of publishers & booksellers of kolkata, registered under the west bengal societies registration act, 1961. it is a non -profit making and social service organization. it has been granted exemption under section 80(g) of the income tax act of 1961. it is known as the 'publishers & booksellers guild' (hereinafter referred to as guild). we may ..... . mr. amzad ali, learned counsel, submitted that the statutory authorities have singularly failed to perform their duties in a fair manner having ignored the provisions of the environment protection act, 1986 and the provisions of the noise pollution (regulation and control) rules, 2000. learned counsel reiterated that the mayor in council has not granted the necessary permission. even if ..... the noise pollution (regulation and control) rules, 2000. learned counsel further submitted that closure of park street maidan would be covered by section 353 of the kolkata municipal corporation act (hereinafter referred to as kmca). the municipal commissioner can order the closure of a park or a public square permanently or temporarily. however, such an order can only be .....

Tag this Judgment!

Mar 20 2007 (HC)

Sri Kamal Prasad Agarwal Vs. Union of India (Uoi) and ors.

Court : Kolkata

Reported in : (2007)2CALLT584(HC)

..... 4. in a recent judgment the apex court rajesh kumar and ors. v. deputy commissioner of income tax and ors. reported in : [2006]287itr91(sc) while deciding whether directions issued under section 142(2a) of the income tax act, 1961 by the authorities are administrative or quasi judicial, held as under:we, however, need ..... date of issue of licence under reference on the firm and their proprietor so that it acts as a deterrent against their misrepresentation of the firm in future. there is absolutely no doubt that the firm misrepresented in claiming depb since they ..... 0299019888 & all benefits under exim policy should not be suspended and fiscal penalty should not be imposed against them, under sections 8 & 11 the act for violation of the conditions of exim policy. the noticee was given 15 days time for submission of their reply. the reason for the notice arose ..... 204, kolkata -700 006 (hereinafter referred to as the 'noticee firm') under sections 8, 9(4), 10 and 11 of foreign trade (development & regulation) act, 1992, calling upon the noticee firm to show cause as to why depb no. 0210017793 dated 23.12.2000 should not be cancelled ab-initio under clause 10 ..... the depb and in exercise of the powers vested in me under section 13 of the foreign trade (development & regulation) act, 1992 read with section 11(2) of the said act, i hereby impose a penelty of rs. 12,62,800/- as penalty in addition to customs duty & interest from the .....

Tag this Judgment!

Jul 15 2008 (HC)

Tara Properties Private Limited Vs. Shalimar Paints Limited

Court : Kolkata

Reported in : (2008)IVCALLT296(HC)

..... flowing from a different bundle of facts connected with ex 1, a notice dated august 2nd, 1985 issued to its principal officer by the income-tax officer, e-ward, c-n, cal. under section 226(3) of the income-tax act, 1961, about which nothing was stated in the written statement, brought about a month to month renewal of the lease within the meaning of ..... amount equivalent to the monthly rent by the lessee remaining in possession of the property after determination of the lease to the income-tax officer in response to a notice issued to the lessee under section 226(3) of the income-tax act, 1961.30. mr. sen has referred me to ito, madras v. budha pictures : [1967]65itr620(sc) ; dhunseri tea & industries ltd. v. the ..... section 116.12. the income-tax officer issued the notice, ex 1, stating that a sum of rs. 3,50,321 was due from the plaintiff on ..... within the meaning of section 116 of the transfer of property act, 1882. in his examination-in-chief and cross-examination p.w. 1 has consistently said that after determination of the lease the plaintiff never accepted rent from the defendant, and that payments made by the defendant to the income-tax officer were not binding on the plaintiff.33. mr. chakraborty has .....

Tag this Judgment!

Jun 16 2011 (HC)

M/S. Pcbl Industrial Ltd. Vs. Commissioner of Income-tax, Kol-ii and a ...

Court : Kolkata

..... that the loss incurred in share dealing business should not be taken as speculation loss as per explanation to section 73 of the income-tax act. d) by an order dated 1st march, 2000, under section 143(3) of the act, the assessing officer treated the business loss of rs.18,41,11,592/- as speculation loss on the basis of explanation to section ..... for determination in this appeal is whether the appellant comes within exception to the explanation added to section 73 of the income-tax act. in order to appreciate the question involved herein, it will be profitable to refer to section 73 of the act with explanation which is quoted below: section 73. losses in speculation business. (1) any loss, computed in respect of a ..... 73 of the act. e) being dissatisfied, the appellant preferred an appeal before the commissioner of income-tax (appeals) and the grievance of the appellant before the said appellate forum was that the assessing officer should not have treated the business loss ..... whether in such a case the said claim can be disallowed by relying upon explanation to section 73 of the act? 3. whether on the facts and in the circumstances of the case the decision of the income tax appellate tribunal was perverse in so far as the same directly applied the ratio of the decision in re: rpg industries ltd. case in .....

Tag this Judgment!

May 12 2005 (HC)

Mukundray K. Shah Vs. Commissioner of Income-tax

Court : Kolkata

Reported in : (2005)197CTR(Cal)563,[2005]277ITR128(Cal)

..... ltd., to the partnership firm styled m. k. foundation, were payments made for the individual benefit of the appellant-assessee within the meaning of section 2(22)(e) of the income-tax act, 1961; and whether such findings are vitiated in law, having been recorded by it without any material and/or in disregard of the undisputed material, relevant and vital facts and ..... the company had accumulated profits was deemed dividend, though the advance ceased to be outstanding of the previous year if other conditions of section 2(6a)(e) of the indian income-tax act, 1922, were satisfied. in the said decision, it was held that once it is shown that the assessee comes within the letter of the law, he must be ..... ), central ii, kolkata, in relation to the alleged deemed dividend of rs. 5,99,00,000 assessed as the appellant-assessee's alleged undisclosed income with reference to the provisions of section 2(22)(e) of the income-tax act, 1961 ?ii. whether, on the facts and in the circumstances of the case, the tribunal misdirected itself in law and it adopted a wholly ..... that the alleged deemed dividend of rs. 5.99 crores was assessable to tax in the impugned block assessment, even when the respondent-commissioner of income-tax in his impugned order dated march 8, 2004, passed under section 263 of the income-tax act, 1961, had already held that the alleged deemed dividend income had no connection whatsoever with the search and seizure action conducted at the .....

Tag this Judgment!

Jul 06 2009 (HC)

Vishwanath Agarwala Vs. Tax Recovery Officer-i

Court : Kolkata

Reported in : (2009)225CTR(Cal)358,[2010]320ITR636(Cal),[2009]182TAXMAN327(Cal)

..... of dwarka prasad agarwala and proceeded to reject the claim of the writ petitioner, vishwanath agarwala, by passing the order under rule 11(6) of the second schedule to the income-tax act, 1961. the judgment of the supreme court rendered in gangadhar vishwanath ranade's case (supra), therefore, has no manner of application at all in the facts and circumstances of the ..... vishwanath ranade's case (supra) was rendered in a completely different fact situation. in that case, the tro had levied attachment under rule 11 of the second schedule to the income-tax act, 1961, on an immovable property originally belonging to the deceased assessee which was claimed by his wife and daughter as of their ownership and in their possession in the objections ..... vishwanath agarwala, son of panna devi agarwala, observing that the same was not tenable in law and passed his order under rule 11(6) of the second schedule to the income-tax act, 1961, rejecting his plea while concluding that the property could be auctioned for recovery of the outstanding demand of dwarka prasad agarwala. the confirmation of sale to the highest bidder ..... conclusion that the property could be auctioned for the recovery of the outstanding demand of dwarka prasad agarwala as per provision of rule 11 of the second schedule to the income-tax act, 1961 and had therefore rightly rejected the claim of the writ petitioner-vishwanath agarwala.32. the learned advocate appearing on behalf of the private respondent no. 4, kanhaiya lai bhagat .....

Tag this Judgment!

Oct 01 2004 (HC)

Commissioner of Income-tax Vs. Mukundray Kumar Shah

Court : Kolkata

Reported in : (2005)199CTR(Cal)633,[2005]278ITR425(Cal)

..... . poddar submitted that the said provision contemplates recovery in respect of the seized assets in relation to any existing liability either under the income-tax act, the wealth-tax act, the expenditure-tax act, the gift-tax act and/or the interest-tax act and the amount of liability determined on completion of the assessment under section 153a or the amount of liability determined on completion of the assessment ..... were liable to be retained in the case of future liability of the assessee.24. it was then urged by mr. poddar that there was no provision under the income-tax act or the various rules framed thereunder and in connection therewith which permitted the revenue authorities to retain the seized bonds, which were disclosed assets for realisation of future dues, ..... disposal of an appeal. mr. poddar submitted that it was in such background that the hon'ble supreme court observed that the statutory power under section 254 of the income-tax act, which conferred on the appellate tribunal powers of the widest amplitude in dealing with appeals before it, carried with it the duty in proper cases to make such orders ..... to release the entire seized assets and money of the petitioner and to refund the various amounts. in the said case proceedings were taken under section 132(5) of the income-tax act. however, the regular assessment of the petitioner for the assessment year 1989-90 was completed and an assessment order was passed. against the said order the petitioner appealed before .....

Tag this Judgment!


Save Judgments// Add Notes // Store Search Result sets // Organizer Client Files //