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Judgment Search Results Home > Cases Phrase: income tax act Court: kolkata Page 5 of about 17,162 results (0.070 seconds)

Jan 22 2007 (HC)

Kumar Kumar and Brothers and anr. Vs. Union of India (Uoi)

Court : Kolkata

Reported in : (2007)212CTR(Cal)213

..... file from kolkata to mumbai which they learnt from the order dated october 11, 2006, passed by the deputy commissioner of income-tax, central circle-22, mumbai, calling for filing of return under section 153c of the income-tax act, 1961 (for short, 'the act'), for the assessment years 1999-2000 to 2004-05. the grounds of challenge are that such transfer was carried out without ..... inviting objection and without giving them an opportunity of hearing. the learned advocate appearing on behalf of the petitioners has relied on the judgment in nitin developers and const v. cit reported in ..... to mumbai, which is an inter-city transfer, no opportunity of hearing was given to the petitioners which is in contravention of sub-section (1) of section 127 of the act. thus, the principles of law laid down in nitin developers : [2006]284itr605(delhi) are applicable to the facts of the case. therefore, the order of transfer of the case of ..... by the petitioners are deemed to be correct.3. in order to delve into the issue it is necessary to refer to the relevant portion of section 127 of the act which is as under:127.(1) the director-general or chief commissioner or commissioner may, after giving the assessee a reasonable opportunity of being heard in the matter, wherever it .....

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Feb 12 2004 (HC)

West Bengal State Co-operative Bank Ltd. Vs. Joint Commissioner of Inc ...

Court : Kolkata

Reported in : (2004)191CTR(Cal)117,[2004]268ITR462(Cal)

..... kalyan jyoti sengupta, j.1. the impugned notice under section 148 of the income-tax act, 1961 (hereinafter referred to as 'the said act'), dated december 18, 2002, and the other four orders dated december 19, 2002, one each relating to the assessment years 1996-97 to 2000-2001 are under challenge in this ..... form any opinion. assumption of jurisdiction by the assessing officer under section 147 of the said act is conditioned '. . . unless any income chargeable to tax has escaped assessment for such assessment year by reason of the failure on the part of the assessee to make a return under section 139 or in ..... view of the decision of the supreme court in the case of madhya pradesh co-operative bank ltd. v. cit (addl.) : [1996]218itr438(sc) , though deduction under section 80p of the said act was granted previously by the assessing officer. therefore, the aforesaid income on account of the interest and discount from the aforesaid investments has escaped assessment. the orders containing reasons to ..... been overruled by a subsequent decision of a larger bench of the supreme court reported in cit v. karnataka state co-operative apex bank : [2001]251itr194(sc) by which it is held amongst others that the above income is deducted under section 80p of the said act. according to him if the basis is unacceptable under the law there is no material to .....

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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 .....

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May 13 2005 (HC)

Electro Zavod (India) Pvt. Ltd. and ors. Vs. Commissioner of Income-ta ...

Court : Kolkata

Reported in : (2005)199CTR(Cal)612,[2005]278ITR187(Cal)

..... in view of the aforesaid authoritative pronouncement of the law i am inclined to accept the contention of mr. mitra that for the purpose of the income-tax act the writ petitioner has become the owner, to put it differently respondent no. 9 ceased to be the owner on and from may 7, 1997 ..... lordship then was) who spoke for the bench at page 780 :'in our opinion, the term 'owned' as occurring in section 32(1) of the income-tax act, 1961, must be assigned a wider meaning. any one in possession of property in his own title exercising such dominion over the property as would enable ..... the first paragraph the words 'orders have' to be inserted in place and stead of the words 'order has' and the words 'under section 281b of the income-tax act' and the words 'and the matter must be adjudicated... court of law in respect thereof and the last word 'passed' in the same paragraph to be ..... legal finding of the commissioner basing on the above decision of the supreme court, that the petitioner is not the owner for the purpose of the income-tax act is patently wrong.6. he has also assailed the fact finding of the commissioner contending that the petitioner has not been in possession, is patently ..... khan v. cwt : [1986]162itr888(sc) . their lordships observed that the language mentioned in the relevant section of the wealth-tax act was different from that of the income-tax act. it was further observed in this judgment that section 53a debars a transferor from exercising the rights of an owner after he has .....

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Oct 08 2002 (HC)

Mahesh Kumar Agarwal Vs. Deputy Director of Income-tax and ors.

Court : Kolkata

Reported in : (2003)180CTR(Cal)517,[2003]260ITR67(Cal)

..... and 265 whereunder the division bench of the allahabad high court (lucknow bench) held that section 132 of the income-tax act empowers the chief commissioner of income-tax or the commissioner of income-tax to pass an order for search and issue a warrant authorising a particular officer when he has reason to believe ..... to be found at his residence. therefore, both the place of business and residence are covered for action under section 132(1) of the income-tax act, 1961. the petitioner transferred his place of busi-ness. he is running a proprietorship concern by the name of 'pratik food products'. there is ..... that any of the three conditions mentioned in clauses (a), (b) and (c) of sub-section (1) of section 132 of the income-tax act exists. if either of these conditions is not satisfied or has not been adhered to, then the authority is precluded from invoking the powers under ..... around 8.30 a.m., a similar set of officers took out search and seizure proceeding under section 132 of the income-tax act at the residence of the petitioner and after making an inventory of the articles, namely, credit card, jewellery, books of account, documents, cash ..... loose sheets, computer (c.p.u.) print outs and some documents relevant for preparing final books of account. the panchanama under section 132 of the income-tax act, 1961, and list of inventories were served only on september 25, 2001. simultaneously, with the aforesaid search and seizure on september 24, 2001, at .....

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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 .....

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Jul 15 2011 (HC)

Paharpur Cooling Towers Ltd. Vs. Commissioner of Income Tax

Court : Kolkata

..... incurred in the previous year will be allowed as a deduction, if it is actually paid by the due date of furnishing the return under section 139(1) of the income-tax act, in respect of the assessment year to which the aforesaid previous year relates. this proviso was introduced to remove the hardship caused to certain taxpayers who had represented that since ..... incurred in the previous year will be allowed as a deduction, if it is actually paid by the due date of furnishing the return under section 139(1) of the income-tax act, in respect of assessment year to which the aforesaid previous year relates. this proviso was introduced to remove the hardship caused to certain taxpayers who had represented that since the ..... court formulated the following four substantial questions of law for the purpose of disposal of this appeal: i) whether on a true and proper interpretation of section 43b of the income tax act, 1961, the appellant was entitled to deduction of the excise duty of rs.322.46 lacs actually paid by it during the previous year relevant to the assessment year 1996 ..... memorandum explaining the reasons for introducing explanation 2, states, inter alia, as follows ((1989) 176 itr (st.) 123) : "24. under the existing provisions of section 43-b of the income-tax act, a deduction for any sum payable by way of tax, duty, cess or fee, etc., is allowed on actual payment basis only. the objective behind these provisions is to provide for a .....

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Jul 13 2011 (HC)

Gkw Limited Vs. Commissioner of Income Tax,

Court : Kolkata

..... to suggest that the profit on sale of fixed assets amounting to rs.6,02,91,024/- did not form part of the book profit under section 115ja of the income tax act, 1961. we, therefore, find that the tribunal below rightly decided the aforesaid point in favour of the revenue and we find no reason to interfere with the said finding. 24 ..... determination in this appeal: i) whether the tribunal was justified in law in holding that rent and repairs and maintenance referable to guest house allowable under section 30 of the income tax act, 1961 were to be disallowed under section 37(4)?(sic). ii) whether the tribunal mis-directed (sic) itself in law in holding that the notional figure of rs.228.34 ..... of fixed assets amounting to rs.6,02,91,024/- formed part of the book profit under section 115ja of the income tax act, 1961? (sic). iv) whether the provisions relating to payment of advance tax are applicable in a case where the total income is deemed to be 30% of the book profit under section 115ja and the tribunal was justified in upholding the ..... 1. this appeal under section 260a of the income-tax (act), 1961 is at the instance of an assessee and is directed against order dated august 28, 2003 passed by the income-tax appellate tribunal, c bench, kolkata in income-tax (appeal) being ita no.1153 (cal) of 2001 for the assessment year 1997-98 dismissing the appeal filed by the assessee. 2. being dissatisfied, the assessee has .....

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Jul 13 2011 (HC)

Faridabad Investment Company Limited Vs. Commissioner of Income Tax, W ...

Court : Kolkata

..... may be summed up thus: a) the appellant before us is a public limited liability company within the meaning of the companies act, 1956 and is assessed to tax under the income-tax act. the present appeal arises out of the assessment under the act for the assessment year 1995-96 for which the relevant previous year was the financial year ended march 31, 1995. the ..... the following substantial questions of law: i) whether the question as to whether any expenditure was incurred for earning dividend income and if so, the quantum thereof could be gone into and decided in proceedings under section 154 of the income tax act, 1961 and the tribunal was justified in law in upholding the order dated june 30, 2000 passed by the assessing ..... appellant derives income from purchase and sale of and investment in shares, interest income, dividend income and rental income. for the assessment year 1995-96, the ..... 1. this appeal under section 260a of the income-tax (act) is at the instance of an assessee and is directed against an order dated august 21, 2003 passed by the income-tax appellate tribunal, a bench, kolkata, in income-tax appeal bearing ita no.1375(kol)/2002 for the assessment year 1995-96 dismissing the appeal preferred by the assessee. 2. the facts giving rise to .....

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Jan 03 2007 (HC)

Cesc Ltd. and anr. Vs. Income-tax Officer (Tds) and ors.

Court : Kolkata

Reported in : (2007)211CTR(Cal)343

..... appellant is an assessee under the income-tax act, 1961. the appellant employs several persons in employment. under section 206 of the said act of 1961 the appellant is bound to deduct tax at source from the respective employees on the basis of their estimated salary income. it is the case of the appellant that they duly deducted at source the tax from the respective employees out ..... general : [2001]248itr113(all) the allahabad high court, however, considered an issue prior to issuance of the circular of 1999. the allahabad high court held that since the commissioner of income-tax had designated the assessing officer, kanpur, as tds official, he had requisite jurisdiction under section 131 to make queries with regard to form no. 24. the allahabad high court judgment ..... recovery. mr. shome has contended that once the employer was duty bound to deduct at source the tax from the salary income under section 206 of the said act of 1961 the official had the power to make queries so as to satisfy himself that the tax was duly deducted under section 206 and deposited with the revenue. mr. shome has also contended that ..... of their salary income on tentative basis and deposited the same with the .....

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