Skip to content


Judgment Search Results Home > Cases Phrase: income tax act Court: kolkata Page 4 of about 17,162 results (0.062 seconds)

Jun 12 2002 (HC)

G.N. Shaw (Wine) Pvt. Ltd. Vs. Income-tax Officer and anr.

Court : Kolkata

Reported in : (2003)183CTR(Cal)528,[2003]260ITR513(Cal)

..... ,960. in the course of hearing, it was detected that the assessee made payment of rs. 1,79,52,909 in cash in violation of section 40a(3) of the income-tax act, 1961. but in the assessment order passed under section 143(3) on march 31, 1998, there is no discussion about the said payment made in contravention of section 40a(3 ..... , it appears that several questions have since been raised for and against the reopening. the first objection is with regard to the obtaining of sanction under section 151 of the income-tax act. section 151 provides that no notice under section 148 for reopening an assessment under section 147 could be issued unless the joint commissioner is satisfied on the reason to be ..... rs. 1,79,52,909 made in cash in contravention of the provisions of section 40a(3) of the income-tax act escaped assessment. as the said amount need to be taxed, a proposal for reopening of the case is sent to the commissioner of income-tax-ill, kolkata, for according his kind approval in the matter.' 13. true, in view of the decision cited by ..... dilip kumar seth, j. submission on behalf of the petitioner 1. the notice dated march 27, 2002, issued under section 148 of the income-tax act, 1961 (the 'i. t. act'), being annexure p2 to this petition, seeking to reopen the assessment in respect of the assessment year 1995-96 is the subject-matter of challenge in this writ petition. learned .....

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!

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!

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!

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!

Jun 16 2011 (HC)

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

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!

Jul 15 2011 (HC)

Hari Shankar Bhartia Vs. Commissioner of Income Tax, W.B.

Court : Kolkata

..... appellant in terms of the agreement dated december 27, 1996 with ghaghra sugar ltd. by way of non-competition fee was a capital a receipt not liable to tax under the provisions of income tax act, 1961? 2) whether the tribunal was justified in law in entering into the question of genuineness of the transaction relating to receipt of noncompetition fee of rs. ..... lakh received for non-competition with the said company was a capital receipt not liable for tax. the assessee drew the attention of the assessing officer to the amendment made to the income-tax act by the finance act, according to which non-competition fee could be subjected to tax only from the assessment year 1998-99 under the head capital gains. the assessee also drew ..... 1. this appeal under section 260a of the income-tax (act), 1961 is at the instance of an assessee and is directed against an order dated september, 2002, passed by the income-tax appellate tribunal, b bench, kolkata in income-tax appeal bearing ita no.1449 (cal)/2000 for the assessment year 1997-98 and thereby dismissing the appeal preferred by the assessee. 2. being dissatisfied, the ..... the attention of the assessing officer to the circular being instruction no.1964 dated march 17, 1999 issued by the central board of direct taxes to the effect .....

Tag this Judgment!


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