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Judgment Search Results Home > Cases Phrase: income tax act Court: kolkata Year: 2002 Page 1 of about 148 results (0.040 seconds)

Jan 30 2002 (HC)

Shruti Ltd. and anr. Vs. Commissioner of Income-tax and ors.

Court : Kolkata

Decided on : Jan-30-2002

Reported in : [2002]255ITR283(Cal)

..... from the order impugned that the authority on january 1/4, 2002, passed an order of transfer under section 127 of the income-tax act, 1961. in such order the entire reply of the show-cause notice has been quoted and ultimately a conclusion has been drawn ..... 10.30 a. m. personally or through an authorised representative to state your further objections to the proposed transfer of income-tax jurisdiction from the income-tax officer, ward-55 (1), kolkata, to the deputy commissioner of income-tax, central circle-xii, new delhi, mayur bhawan, connaught circus, new delhi-110 001. if you are unable ..... reiterated the earlier order by saying that theassessee has denied the basic infrastructure in delhi which was in existence before to represent its case before the income-tax authorities and in a nutshell the stand taken in its previous reply dated july 26, 2001, has been reiterated. therefore, the authority thought ..... , it will be assumed that you have no objection to the proposed transfer and order to that effect may be passed by the commissioner of income-tax, kolkata-xx, without making any further correspondence with you in this regard.'4. on december 13, 2001, a notice has been issued by ..... the aforesaid position, order as stated hereunder is passed.' 3. it appears from the annexures that firstly, on july 17/18, 2001, the concerned income-tax officer on behalf of the commissioner issued a show-cause notice of transfer in a cryptic manner. however, the same was replied by the petitioners on .....

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Sep 09 2002 (HC)

Bata India Ltd. and anr. Vs. Commissioner of Income-tax and ors.

Court : Kolkata

Decided on : Sep-09-2002

Reported in : (2003)1CALLT598(HC),(2003)179CTR(Cal)147,[2002]257ITR622(Cal)

..... officer would be able to deduce the true profit and make assessment accordingly. i, therefore, consider it to be a fit case forspecial audit under section 142(2a) of the income-tax act, 1961, and have decided to appoint an auditor accordingly. the name and address of the auditor will be intimated to you shortly.'6. mr. bajoria, the learned senior advocate for ..... questioned the order of approval passed by respondent no. 1 containedin his communication dated november 8, 2001, being annexure p-21 whereby special audit under section 142(2a) of the income-tax act, 1961, has been ordered and a decision taken to appoint an auditor.2. the case of the petitioner is that there is no warrant to order special audit in terms ..... and the impugned order dated november 8, 2001 (annexure p-21) is one passed by the commissioner of income-tax, respondent no. 1. it cannot be denied that respondent no. 1 (cit) is competent to grant approval in terms of section 142(2a) of the income-tax act.14. also, it must be stated here that merely because no special audit under section 142(2a) of ..... been the subject-matter of construction by several high courts including this high court. the said section 142(2a) of the income-tax act reads as under :'if, at any stage of the proceedings before him, the assessing officer, having regard to the nature and complexity of the accounts of the assessee and the .....

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Jun 12 2002 (HC)

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

Court : Kolkata

Decided on : Jun-12-2002

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 .....

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Oct 08 2002 (HC)

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

Court : Kolkata

Decided on : Oct-08-2002

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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Aug 28 2002 (HC)

Parameshwar Nath Rai Vs. Chief Commissioner of Income-tax and ors.

Court : Kolkata

Decided on : Aug-28-2002

Reported in : (2003)179CTR(Cal)428,[2002]258ITR591(Cal)

..... has questioned the order dated july 26, 2002, passed by the commissioner of income-tax, asansol, in exercise of the powers conferred upon him by section 127 of the income-tax act, 1961, and thereby transferred the petitioner's case from the deputy commissioner of income-tax, circle-3, asansol, to the deputy commissioner of income-tax, central circle, ranchi. the petitioner has questioned the said order of transfer ..... . in the circumstances, the impugned order to the extent the petitioner is concerned, is liable to be and is hereby quashed and set aside with liberty to the commissioner of income-tax, asansol, to consider the matter afresh in accordance with law after affording the petitioner an opportunity of personal hearing and thereafter to dispose of the same by a reasoned speaking ..... may 30, 2002, and consequent thereupon the petitioner preferred his objection and in my view, therefore, the matter was required to be considered on the merits by the commissioner of income-tax, asansol, and to be disposed of by a reasoned speaking order and not in the manner as has been purported to be done by the impugned order. the impugned order .....

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Oct 08 2002 (HC)

Kejriwal Enterprises and anr. Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Oct-08-2002

Reported in : (2003)181CTR(Cal)305,[2003]260ITR341(Cal)

..... 160 for the assessment year 1993-94. 24. the only section which we need consider for our purposes is section 36, sub-section (1)(iii), of the income-tax act, 1961, and that runs as follows : '36. (1) the deductions provided for in the following clauses shall be allowed in respect of the matters dealt ..... three assessment years. 40. the order of the tribunal is set aside for each of the said assessment years and the order of the commissioner of income-tax (appeals) is restored. 41. we would have allowed costs to the assessee in this case but in view of the excellent arguments and fair ..... where only one conclusion was possible to be drawn by any reasonable authority.33. the assessee lost before the assessing officer, won before the commissioner of income-tax (appeals) and lost again before the tribunal, which failed to take note of any of the material facts. 34. when an authority draws a ..... with therein, in computing the income referred to in section 28--... (iii) the amount of the interest paid in respect of capital borrowed for the purposes of the business or profession.' 25 ..... per cent. even before the part 40 per cent. was sent over to russia. 17. in these circumstances, a point arose in the assessee's tax returns, as to whether the funds which the assessee had borrowed, for the purpose of advancing to the joint venture, and which borrowed funds were attracting .....

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Sep 27 2002 (HC)

Hela Holdings Pvt. Ltd. Vs. Commissioner of Income-tax and anr.

Court : Kolkata

Decided on : Sep-27-2002

Reported in : (2003)185CTR(Cal)245,[2003]263ITR129(Cal)

..... such change is made honestly, and a sufficient degree of consistency is disclosed in the matter of change, so as to satisfy the requirements of section 145 of the income-tax act, 1961 ? (iii) whether, on the facts and in the circumstances of this case, the tribunal erred in law in finding that the assessee had not satisfied the ..... in one particular assessment year, the relevant assessment year in this case being 1995-96 ?' 22. the sole section which is material for our consideration from the income-tax act is section 145 thereof which, as it stood at the material time, is set out below :'145. method of accounting.--(1 ..... ajoy nath ray, j. 1. this is an appeal under section 260a of the income-tax act, 1961, from an order of the tribunal dated april 5, 2002, passed in respect of the assessment year 1995-96.2. the brief facts leading to the ..... that the assessee is entitled to change his regular method of accounting by another regular method and that such a change did not need any prior approval of the income-tax authorities. it is also positively stated in the said case, that once the assessee-company does change its accounting method, it would be open to it to produce ..... . we have already answered the first and the third questions in favour of the assessee.40. the appeal is, therefore, allowed. the order of the commissioner of income-tax (appeals) is accordingly restored and the order of the tribunal is set aside;41. the present section 260a casts a duty upon the court to make an order as .....

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Feb 06 2002 (HC)

Commissioner of Income-tax Vs. Berger Paints (India) Ltd. (No. 1)

Court : Kolkata

Decided on : Feb-06-2002

Reported in : [2002]254ITR498(Cal)

..... april 1, 1984, the tribunal was justified in law in directing to allow the amount of rs. 77,81,948 under section 43b of the income-tax act, being central excise and customs duty which had been included in the value of closing stock ?'29. the tribunal decided in substance in favour of ..... closing stock.8. this is the method of accounting which, according to the assessee, is permissible in law notwithstanding the presence of section 43b in the income-tax act.9. in another division bench judgment in another reference matter in our court, for the same assessee, but for a different assessment year, the decision ..... accounting and deduction which the assessee would like to succeed before us.3. the model is to be considered with reference to section 43b of the income-tax act, 1961, introduced into the statute book on april 1, 1984.4. the basic scheme of that section is well-known. the scheme is this ..... the assessee in each of the two cases reversing the decision of the income-tax officer and commissioner of income-tax (appeals). the tribunal followed its own decision in the matter.30. dr. pal tells us that the tribunal's decision has since ..... in the circumstances of the case, the tribunal is justified in law in directing the income-tax officer to allow the sum of rs. 24,28,428 being central excise and customs duty under section 43b of the act on the ground that the said amount has been included in the value of closing stock .....

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Feb 13 2002 (HC)

Commissioner of Income-tax Vs. Berger Paints (India) Ltd. (No. 2)

Court : Kolkata

Decided on : Feb-13-2002

Reported in : [2002]2534ITR503(Cal)

..... .13. the court was there concerned with the auditor's certificate necessary for claiming of benefits by a trust. the language employed in another part of the income-tax act (see sections 11 and 12) also states like in sub-section (5) above that the assessee must furnish the auditor's report along with his return ..... the tribunal was justified in law in allowing the claim of rs. 36.77 lakhs under section 32ab and rs. 1,28,960 under section 80hhc of the income-tax act, 1961 ? 3. whether, on the facts and in the circumstances of the case, the tribunal was justified in deleting the addition of rs, 35.11 ..... not introduce any new provision. with due respect we are wholly unable to agree. it rarely happens that a provision of the income-tax act is declaratory of the law. this act is one of the most categoric branches of law and its changes are mostly to be gathered from the express words employed ..... on a judgment of the himachal pradesh high court in the case of himachal pradesh state forest corporation ltd. v. dy. cit .19. that case dealt with section 139 of the income-tax act. that is the section for the filing of the return itself. the deputy commissioner had ordered in that case that the ..... 32ab. we note that the compulsory requirement of producing the accountant's report at all, as per rule 18bba and form no. 10ccac of the income-tax rules and forms appended thereto is sufficiently preserved by the explanation below sub-section (2) of section 288. this report of the accountant has to come .....

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Jan 08 2002 (HC)

Sambhu Prasad Agarwal, Vs. Director of Income-tax (investigation) and ...

Court : Kolkata

Decided on : Jan-08-2002

Reported in : [2002]254ITR660(Cal)

..... ) has been cited in the court. the relevant point has been considerably dealt with therein. the ratio of the judgment is that the purpose of section 132(9a) of the income-tax act, 1961, is to help the assessing officer to make a speedy assessment and is not for the benefit of the assessee. even, if the seized materials were handed over beyond ..... of the judgment of the madras high court by the supreme court as on january 22,1998, is really acceptance of the legal position prior to the amendment of the income-tax act and by introduction of chapter xiv-b in respect of block search and seizure with effect from june 1, 2001, the earlier legal position was virtually given a go-by ..... includes warrant and other reference, etc., as well as list of inventory of the jewellery, bank accounts and other documents. according to the writ petitioner, under section 132 of the income-tax act, a provision is made for search and seizure. dr. debi prasad pal, and mr. ajit kr. panja, learned senior counsel appearing in support of the petitioners, contended that as per ..... . if the sub-section under this section is read in the context of other parts of the act in which the authority or power of the income-tax/assessing officer is given it will be seen that after the period of fifteen days the income-tax/assessing officer automatically becomes an authorised officer. therefore, there is very little scope for argument on the part of .....

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