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Judgment Search Results Home > Cases Phrase: income tax act Sorted by: recent Court: kolkata Page 10 of about 17,223 results (0.139 seconds)

Mar 08 2016 (HC)

Ramshila Enterprises Private Ltd. Vs. Prncipal Commissioner of Income ...

Court : Kolkata

..... issuance of the notice dated 18th march, 2013 under section 263 and the consequent order dated 26th march, 2013 passed under section 263 of the income tax act were acts without jurisdiction and therefore a nullity. for the aforesaid reasons the question no.(a) is answered in the negative. it is not necessary for us ..... 2013 was sent at 4, ganesh chandra avenue, 1st floor, room no.1. mr.poddar submitted that mode of service is provided by section 282 of the income tax act. according to him, clauses (a) and (b) are material for our purpose, but we would like to quote sub-section 1 of section 282 in ..... september, 2012 appearing at page 584 of the additional papers filed by him, which is an order passed under section 127 of the income tax act by no other than the cit, kolkata-ii, kolkata, who passed the impugned order under section 263, transferring the jurisdiction over five assessees including the appellant before us to ..... issue, according to him, is the fact that on 18th march, 2013 itself the assessee received a notice under section 143(2) of the income tax act pertaining to a subsequent assessment year i.e.2012-13 in his office at narayani building, 27, brabourne road. mr.poddar submitted that this goes to ..... assessment made under section 147/143(3) on 21st may, 2010 should not be revised under section 263 of the income tax act. an order under section 263 was passed ex parte by the cit on 26th march, 2013 setting aside the order dated 21st may, 2010 passed under section 147/143(3) and .....

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Mar 04 2016 (HC)

Cit, Central – I, Kolkata Vs. Binani Cement Ltd.

Court : Kolkata

..... the instant appeal:i)whether on the facts and in the circumstances of the case, the learned income tax appellate tribunal b bench, kolkata was justified in quashing the order passed by the commissioner of income tax (central i) kolkata under section 263 of the income tax act without appreciating the ratio of the judgement delivered by the delhi high court in the case of ..... delivered on : 04/03/2016. girish chandra gupta j. this is an appeal u/s.260a of the income tax act, 1961 (hereinafter referred to as the act ) preferred by the revenue against a judgement and order dated 30th march, 2012 passed by the income tax appellate tribunal (hereinafter referred to as the tribunal ) b bench, kolkata in ita no.239/kol/2011 pertaining ..... relied on the judgement of the apex court in the case of apollo tyres ltd. versus cit reported in (2002) 255 itr273wherein the following issue arose for consideration: can an assessing officer while assessing a company for income tax under section 115-j of the income tax act question the correctness of the profit and loss account prepared by the assessee company and certified ..... commissioner of income tax versus hari machine ltd.reported in (2009) 311 itr285(del.)?. ii) whether on the facts and .....

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Mar 04 2016 (HC)

Prahlad Bhattacharya Vs. The Cit, Kolkata – Xvi and Anr.

Court : Kolkata

..... , 2016 judgment delivered on: 04/03/2016. girish chandra gupta j. the assessee has come up in appeal under section 260a of the income tax act, 1961 (hereinafter referred to as the act ) against a judgment and order passed by the income tax appellate tribunal, d bench, kolkata in ita no.2541 (cal) of 2003 dated 29th april, 2004 pertaining to the assessment year 1996-97 ..... . the following substantial questions of law arise for determination in the instant appeal:- i) whether on a true and proper interpretation of section 68 of the act the learned tribunal was correct ..... year 1986 he started a business in the name of sona cycle mart with an initial investment of rs.25,900/-. he filed income tax return for the firs.time in the assessment year 1990-91 indicating therein business income under the name sona cycle mart but never filed his personal balance-sheet till the assessment year 1998-99; 3. in the assessment ..... year 1996-97 he introduced capital from his personal account into the business. the cit(a) called for remand report from the ao under rule 46 of the income tax rules, 1962. the ao vide his letter dated 8th april, 2003 stated as follows:a) as regards increase in opening stock the addition .....

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Mar 04 2016 (HC)

M/S. Singlo (India) Tea Ltd. Vs. Commissioner of Income Tax, Central I ...

Court : Kolkata

..... : 02.02.2016 judgement delivered on: 04/03/2016. girish chandra gupta j. the assessee has come up in appeal under section 260a of the income tax act, 1961 (hereinafter referred to as the act ) against an order of the income tax appellate tribunal, a- bench, kolkata dated 28th june, 2005 in ita1626kol/2004 for the assessment year 2000-01. by the order dated 17th november ..... case, the tribunal is right in law in holding that the tea development allowance under section 33ab of the income-tax act, 1961, must be in relation to the income of the business of growing and manufacturing tea, rather than to the taxable portion of such income?. the kerala high court held as follows:- admittedly, the assessee had deposited a sum of rs.18 lakhs ..... agriculture has to be arrived at in a normal commercial manner. there is no scope for computing such income by complying with the computation section under the income-tax act. in other words, the real income has to be taken into account for the purpose of considering the exemption under section 10(1).this position emerges in a case where we have to deal solely ..... equal to twenty per cent is to be computed on the amount of 40% of composite income before making any deduction under section 33ab of the income tax act and set off any loss under section 72 of the act is made inasmuch as only 40% of composite income comes within the ambit of profit computed under the head profits and gains of business or profession .....

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Mar 04 2016 (HC)

Prem Chand Shaw (Jaiswal) Vs. Assistant Commissioner, Circle 38, Kolka ...

Court : Kolkata

..... : february 10, 2016 judgment delivered on: 04/03/2016. girish chandra gupta j. the assessee has come up in appeal under section 260a of the income tax act, 1961 (hereinafter referred to as the act ) against an order of the income tax appellate tribunal, c - bench, kolkata dated 7th july, 2005 in ita nos.1421, 1422 and 1423 (kolkata) of 2004 for the assessment years 1990 ..... the substance. the judgment in johri lal (supra) was rendered with respect to the provisions of section 34 of the income tax act, 1922, which dealt with income escaping assessment. in the facts of that case proceedings u/s.34(1)(b) of the income tax act 1922 were initiated by the assessing officer. the assessee challenged the same before the commissioner (appeals) by contending that the ..... was recorded by the addl. c.i.t.while giving sanction as envisaged u/s.151 (2) at the income tax act. it is also not the case of the assessee that the assessing officer has no reason to believe that any income chargeable to tax has escaped assessment nor any assessment year under appeal. it is also not the case of the assessee that ..... to the assessee as the issue in that case was whether a proceeding u/s.34(1)(b) of income tax act, 1922 could be converted to a proceeding u/s.34(1)(a) of the said act. in the case of stock exchange v. asst cit, reported in (1997) 227 itr906 the gujarat high court held as follows: similarly, for the asst. yrs.1990 .....

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Feb 26 2016 (HC)

Sheo Kumar Mishra, Appellant Vs. Deputy Commissioner Income Tax,ccvii, ...

Court : Kolkata

..... reported in (1979) 116 itr15 their lordships were considering the question in connection with the powers of the sales tax appellate tribunal which was similar to the provisions of section 33 of the income tax act of 1922 and this is what their lordships observed: the normal rule that a party not appealing from a ..... of either rs.1,59,38,664/- or rs.5,40,000/- under section 158b(b) read with section 158bb of the income-tax act, 1961. ii) whether on the facts and in the circumstances of the case the tribunal was competent and justified in making addition ..... communicated to him. (2) the commissioner may, if he objects to any order passed by an appellate assistant commissioner under section 31, direct the income-tax officer to appeal to the appellate tribunal against such order, and such appeal may be made within sixty days of the date on which the order ..... that further and in any event various prejudicial findings of the assessing officer in respect of sundry creditors of the appellant and confirmed by the commissioner of income- tax(appeals) are without any basis and / or material and have been arrived at by ignoring relevant materials and evidence and are based on surmises and conjectures ..... /disallowance of rs.1,59,38,664/- or any part thereof which the assessing officer and commissioner of income tax appeal did not make. iii) whether the disallowance of the expenses of rs.1,59,38,664/~ or any part thereof was perverse, without lawful .....

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Feb 18 2016 (HC)

C.I.T., Central Vs. Apeejay Medical Ltd.

Court : Kolkata

..... private limited company with an object of philanthropic & charitable purposes as envisaged in section 10(22a) of the income tax act, 1961?. the rule was made absolute on 16th march, 2000. therefore, the questions indicated above have to be answered. mr.agarwal, learned advocate for ..... the circumstances of the case, the tribunal was justified in directing the assessing officer to grant the assessee exemption u/s.10(22a) of the income tax act, 1961 ?.2) whether on the facts and in the circumstances of the case, the tribunal was justified in holding that there can be a ..... 1987-88, the assessing officer held that the assessee was not entitled to the benefit under section 10(22a) of the income tax act, 1961, hereinafter referred to as the act . the cit(a) concurred with the views of the assessing officer. in an appeal carried by the assessee to the tribunal the tribunal ..... came up before this court under section 256(2) of the act. the application was taken up for hearing on 16th july, 1997 when a division bench of this court issued rule calling upon the assessee to show cause why the income tax appellate tribunal d bench, kolkata should not be directed to draw ..... give answer to the question no.2, all that we have to do is to notice section 10(22a) of the act, which provides as follows: (22a) any income of a hospital or other institution for the reception and treatment of persons suffering from illness or mental defectiveness or for the reception .....

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Feb 10 2016 (HC)

Shaw Wallace and Co. Ltd. Vs. Commissioner of Income Tax

Court : Kolkata

..... 2a) was set aside. sahara india (supra) concerns a question as to whether an assessee has a right of hearing prior to the invocation of section 142 (2a) of the income-tax act, 1961. such issue has been answered by holding that although section 142 (2a) is silent with regard to a right of hearing, the requirement of observation of principles of natural ..... officer because of complexity of the accounts the particulars were not ascertainable from the accounts submitted. in such circumstances, the invocation of the provisions of section 142 (2a) of the income-tax act, 1961 was set aside. bata india ltd.(supra) was taken into consideration in west bengal state co-operative bank ltd.(supra).in that case also, the assessing officer did not ..... the impugned order dated august 21, 2001. learned advocate on behalf of the petitioner submits that the condition precedent for the purpose of invocation of section 142 (2a) of the income-tax act, 1961 has not been fulfilled in the facts of the present case. in absence of fulfillment of such condition the department is not entitled to invoke such provision. in support ..... .anupa banerjee, mr.amitava mitra, ms.dolon dasgupta, adversus for the petitioner mr.ranjan sinha, adv. for the respondent the court : the department has invoked section 142 (2a) of the income-tax act, 1961 against the firs.petitioner. this invocation has been made the subject matter of challenge in the present writ petition. the petitioner has challenged such invocation in the earlier writ .....

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Feb 02 2016 (HC)

Commissioner of Income Tax, Kolkata Ii Vs. M/S Moran Tea Co. Ltd.

Court : Kolkata

..... , composite income under the income tax act, 1961, before applying rule 8 of the income tax rules. in that view of the matter, the question of law formulated is answered in the affirmative and in favour of the assessee. the appeal is, thus ..... and loss account as a part of the business expense. the assessing officer by his order dated 19th december 2006, completed the assessment under section 143(3)/147 of the income tax act and disallowed the expenditure of rs.56,92,991/- on account of cess on green leaf paid by the assessee. the reasoning given by the assessing officer is as follows ..... per cent, of the agricultural income. to be precise the court in jorehaut group (supra) observed as follows: cess on green tea leaves shall be allowed on 100 per cent ..... ltd. versus assistant commissioner of income-tax reported in (2007) 289 itr422 the gauhati high court followed the view expressed in assam co.ltd.v.union of india, [2005].275 itr609wherein it was held that the deduction on cess paid on green tea leaves has to be allowed on 100 per cent, of the composite income under the income-tax act, 1961, and not on 60 .....

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Feb 02 2016 (HC)

Commissioner of Income Tax, Kolkata I Vs. Birla Corporation Limited

Court : Kolkata

..... ?. (iii) whether grant of interest to the assessee on refund arising due to excess payment on self assessment is contemplated by the income tax act, 1961?. (iv) whether in the facts and circumstances of the case the tribunal was justified in granting the aforesaid relief to the assessee on the ground that the issue was ..... on:05. 01.2016 judgment delivered on:2. d february, 2016. girish chandra gupta j.the revenue has come up in appeal u/s.260a of the income tax act, 1961 (hereinafter referred to as the act ) against a judgment and order dated 22nd march, 2004 passed by the itat a bench, kolkata in ita no.383 and 384 (kol) of 2003 pertaining to ..... to the assessee for the money remaining with the government. to remove this inequity, as also to simplify the provisions in this regard, the amending act, 1987, has inserted a new section 244-a in the income tax act, applicable from the assessment year 1989-1990 and onwards which contains all the provisions for payment of interest by the department for delay in the ..... in law in granting interest to the assessee u/s.244a of income tax act, 1961 on refund arising due to excess payment on self assessment of tax in view of section 244a(1)(b), read with the explanation thereto, of income tax act, 1961?. (ii) whether the explanation to section 244a(1)(b) of income tax act, 1961 bars payment of interest upon refund of excess payment on selfassessment .....

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