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Judgment Search Results Home > Cases Phrase: income tax act Sorted by: recent Court: kolkata Page 6 of about 17,223 results (0.074 seconds)

Aug 02 2016 (HC)

Commissioner of Income Tax (Central)i Kolkata Vs. Messers Hooghly Mill ...

Court : Kolkata

..... is whether the expenditure incurred by the assessee was an allowable expenditure. question could, at best, be whether it was hit by explanation 1 to section 37 of the income tax act. the cit(a) has thus answered this question, i do not find any illegality in the payment of commission by the appellant for the services rendered in procuring the sale contracts and ..... were formulated on august 25, 2010 when the appeal was admitted: (i) whether, on the facts and in the circumstances of the case, the income tax appellate tribunal is correct in allowing deduction under section 80hhc(1) of the income tax act, 1961, though the claim was not made before the assessing officer nor the assessee furnished the prescribed form, along with the return of ..... report of an accountant certifying that the deduction has been correctly claimed. he submitted that the assessee benefit under section 10b of the income tax act. any such report. had originally claimed section 10b did not require therefore, no such report was needed for the purpose of the claim made by the assessee. subsequently, at the ..... income, as laid down in sub-section (4) of section 80hhc of the act?. (ii) whether, on the facts and in the circumstances of the case, the .....

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Jul 28 2016 (HC)

C.I.T., Centraliii, Kolkata Vs. Narayani and Sons (P) Ltd.

Court : Kolkata

..... of the case the learned tribunal has erred in law in dismissing the appeal of the revenue by disregarding that the initiation of penalty proceeding under section 271d of the income tax act, 1961, is not related to the assessment proceedings and it can be initiated at any time?. md.nizamuddin, learned advocate appearing in support of the appeal, however, submitted that the ..... facts and in the circumstances of the case the ld.tribunal has erred in law in upholding the order of the commissioner of income tax (appeals) in view of section 271d (2) read with section 275(1) (c) of the income tax act, 1961, by holding that the order of penalty was passed out of time taking into consideration the limitation period of six months ..... was an assistant commissioner of income tax, issued a notice for imposition of penalty under section 271d(1) for violation of sections 269ss of the income tax act during the assessment year 2004-05. the contents of the notice issued by ..... disregarding the notice dated 26.7.07 issued by the addl. commissioner of income tax who is the competent authority to initiate the penalty proceeding?. the facts and circumstances of the case are as follows:the assessment was completed on 26th december, 2006 under section 153c/143(3) of the income tax act. on 26th december, 2006 itself, the assessing officer who in this case .....

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Jul 26 2016 (HC)

Commissioner of Income Tax (Central)i, Kolkata Vs. Mohanlal Agarwal

Court : Kolkata

..... powers under s.439 (1) which can only be exercised qua the judgments of the lower courts and certainly not qua its own judgments. under section 260a(1) of the income tax act an appeal lies to the high court from every order passed in appeal by the appellate tribunal, if the high court is satisfied that the case involves a substantial question ..... these preconditions are fulfilled in the instant case, and looking to the nature of mistakes in the assessment order, in exercise of my revisionary powers u/s.263 of the income tax act, i set aside the assessment order u/s.158bc, dated 30.09.2004 and direct the a.o.to make assessment de novo in the light of the discussion above ..... was admitted. whether on the facts and in the circumstances of the case the income tax appellate tribunal was justified in holding that the disallowance under section 40a(3) of the act does not fall within the ambit of undisclosed income within the meaning of section 158b(b) of the income tax act ?. the facts and circumstances of the case, briefly stated, are as follows:the assessment ..... under section 158bc(c) of the i.t.act, 1961, was completed on may 30, 2004 for the block .....

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Jul 25 2016 (HC)

Commissioiner of Income Tax, Kolkatax Vs. Shreekant Phumbhra

Court : Kolkata

..... & co.) charged by the bank. the nature of accounts as discussed above has also to be considered for the purpose of applicability of the provisions of section 43b of the income tax act, 1961. in this view of the matter, it is submitted that no question arises of making any disallowance under section 43b. therefore, it will be seen that there is no ..... of rs.22,30,581/- and rs.14,294/- made by the assessing officer under section 43b(e) read with explanation 3d of the income tax act ?. 2. whether in the facts and circumstances of the case the income tax appellate tribunal substantially erred in law in rejecting the contention of the revenue asking for disallowance of rs.40,24,262/- made by the assessing ..... assessee : mr.r.k.murarka,advocate mrs.nilanjana pal,advocate the court : this appeal is directed against the judgement and order dated 28th march, 2008 by which the learned income tax appellate tribunal, d bench, kolkata allowed an appeal being ita no.1818/kol/2007 preferred by the assessee and dismissed an appeal being ita no.2105/kol/2007 preferred by ..... order sheet ita no.63 of2009in the high court at calcutta special jurisdiction (income tax) original side commissioiner of income tax, kolkata-x versus shreekant phumbhra before: the hon'ble justice girish chandra gupta the hon'ble justice arindam sinha date : 25th july, 2016. for revenue : mr.p.dhudhoria,advocate for .....

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Jul 21 2016 (HC)

M/S Caledonian Jute and Industries Ltd. Vs. Commissioner of Income Tax ...

Court : Kolkata

..... 200 taxman 338 [calcutta]., which read as follows: after hearing the learned counsel for the parties and after taking into consideration the provision of section 254 of the income-tax act, we find that an appellate tribunal may after giving both the parties to the appeal an opportunity of being heard pass such order thereon as it thinks fit. the ..... adv.mr.rahul kinkar pandey, adv.mr.farhan gaffar, adv.the court: the subject matter of appeal is an order dated 5th december, 2008 passed by the learned income tax appellate tribunal c bench, kolkata in miscellaneous application no.98/kol./2008 arising out of ita no.167/kol//2007 pertaining to the assessment year 2003-04 by which ..... enhance the assessment which he did not do. in a further appeal by the revenue against the order of cit(a) the aforesaid income of rs.1 crore was not the subject-matter of challenge. it is in that view of the matter that this court held that the tribunal ..... side ita no.124 of 2009 m/s caledonian jute & industries ltd.versus commissioner of income tax & anr. before: the hon'ble justice girish chandra gupta the hon'ble justice arindam sinha date : 21st july, 2016. mr.p.bag, adv.mr.m.l. ..... facts and circumstances of this case for the reasons already discussed by us. in the aforesaid case the income of rs.1 crore was not assessed to tax by the assessing officer. in an appeal preferred by the assessee, the cit(a) had no occasion to deal with the aforesaid sum of rs.1 crore unless he chose to .....

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Jul 20 2016 (HC)

Tinplate Co. of India Ltd. Vs. Joint Commnr. of I.T.Spl.Range7 Cal.

Court : Kolkata

..... section 148. g.k.n.driveshafts (india) ltd (supra) has held that, the assessing officer is bound to furnish the reasons within reasonable time for invoking section 148 of the income tax act, 1961. on receipt of such notice, the assessee is entitled to file objection to the issuance of such notice and that, the assessing officer is bound to dispose of the ..... the respondents. the court :- the petitioner has assailed a writing dated march 31, 2000 by which the assessing officer has proposed to invoke the provisions of section 148 of the income tax act, 1961 in respect of the assessment year 1993-1994. learned senior advocate for the petitioner has submitted that, the petitioner had assailed a similar notice in respect of the assessment ..... to the the high court by way of writ under article 226 of the constitution in respect of invocation of section 148 of the income tax act, 1961. he has referred to 256 itr61(trivandrum club versusassistant director of income tax (exemption) & ors.) and has submitted that, the point of jurisdiction can also be taken before the assessing officer. in reply, learned senior advocate ..... points. he has submitted, by the impugned notice the assessing officer has sought to invoke section 148 of the income tax act, 1961. the reasons were not supplied to the petitioner along with the notice. the reasons for invoking section 148 of the income tax act, 1961 was provided in the affidavit-in-opposition. he has referred to such order containing the reasons. he has .....

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Jul 19 2016 (HC)

M/S. Shyam Sel Ltd Vs. Deputy Commissioner of Income Tax, Cc Xiii, Kol ...

Court : Kolkata

..... install the pollution control device within the time prescribed. therefore, payment of the sum of rs.12,50,000/- is not hit by explanation-1 to section 37 of the income tax act. the payment is undoubtedly for the purpose of business or is in consequence of business carried on by the assessee and is thus covered by section 37. for the aforesaid ..... order of the commissioner of income tax (appeals)?. (b) whether on the facts and circumstances of the case, the income tax appellate tribunal has erred in law in not construing the provision of section 37 of the income tax act, 1961 in passing the impugned order?. at the hearing of the appeal after the learned advocates ..... up in appeal. the questions of law formulated at the time of admission of the appeal on 12th january, 2009 are as follows:- (a) whether in the present case the income tax appellate tribunal has erred in law in disallowing the expenditure of rs.12,50,000/- incurred by the petitioner on account of payment of penalty and in not upholding the ..... , advocate for appellant mr.mrinal kanti lodh, advocate for respondent the court : the subject matter of challenge is a judgment and order dated 31st july 2008 passed by the learned income tax appellate tribunal a bench, kolkata in ita no.1699/kol/2007 pertaining to the assessment year 2003-04 by which the learned tribunal allowed an appeal preferred by the revenue .....

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Jul 15 2016 (HC)

Commissioner of Income Tax, Kolkatax Vs. South Eastern Railway Employe ...

Court : Kolkata

..... the assessee is entitled to the deduction of interest income earned on the investment in banks and other financial institutions amonting to rs.98,73,512/- in assessment year 2003 ..... taken by the cit (a).the learned tribunal was, however, of the opinion that ..... the assessment year 2004-05, income arising out of providing loans to the members was a sum of rs.2.37 crores approximately and income arising from investments was rs.1.12 crores approximately. the assessing officer was of the opinion that the income arising from investments was not deductible under sub-section (2) of section 80p of the income tax act. the same view was ..... ].377 itr464[karn].and a judgement in the case of bihar state housing co-operative federation ltd.versus commissioner of income-tax, reported in [2009].315 itr286[patna].he also drew our attention to section 63 of the multi-state cooperative societies act, 2002 which obliges every multi-state cooperative society to transfer annually an amount of not less than 35% of its .....

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Jul 13 2016 (HC)

Commissioner of Income Tax, Koliii Vs. Shree Balaji Glass Manufacturin ...

Court : Kolkata

..... surplus representing share premium and credit balance of profit and loss account as not falling within the ambit of deemed dividend under section 2(22)(e) of the income tax act, 1961 ?. the facts and circumstances of the case, briefly stated, are as follows : the assessee borrowed a sum of rs.1,12,50,000/- ..... able to point out any mistake on the part of the learned tribunal in arriving at the aforesaid conclusion. the question as to whether the learned income tax appellate tribunal was justified in allowing the relief to the assessee when the money was paid from out of reserve and surplus representing share premium is ..... : mr.n.k.poddar, sr.advocate the court : this appeal is directed against a judgement and order dated 8th august, 2008 passed by the learned income tax appellate tribunal, a bench, kolkata in ita no.73/kol/2008 pertaining to the assessment year 2004-05 by which an appeal preferred by the revenue was dismissed ..... company if he is at any time during the previous year beneficially entitled to not less than 20% of the income of such concern. inviting attention to section 13(3)(b) of it act it was submitted that the word substantial contribution has been defined to mean upto the end of the relevant previous ..... order sheet ita23of2009in the high court at calcutta special jurisdiction (income tax) original side commissioner of income tax, kol-iii versus shree balaj.glass manufacturin pvt.ltd.before: the hon'ble justice girish chandra gupta the hon'ble justice arindam sinha date .....

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Jul 12 2016 (HC)

Piu Ghosh Vs. Deputy Commissioner of Income Tax, Circle52 and Ors.

Court : Kolkata

..... applicability of the law there can be no doubt. he also drew our attention to section 4 of the income tax act which provides as follows : 4. (1) where any central act enacts that income-tax shall be charged for any assessment year at any rate or rates, income-tax at that rate or those rates shall be charged for that year in accordance with, and [subject to ..... 2 to 65 shall be deemed to have come into force on the 1st day of april, 2004. by section 11 of the aforesaid act, clause (ia) was added to section 40 of the income tax act. section 40 provides for the amounts not deductible. to the long list of not deductible amounts , an addition was made by clause (ia) which reads as follows ..... be charged in any particular assessment year which has no application to the case before us. section 11 of the finance act by which clause (ia) was added to section 40 of the income tax act does not provide that the same was to become effective from the assessment year 2005-06. it merely says it shall become effective on 1st april, 2005 which ..... below substantially erred in law in applying provision of section 40(a)(ia) of the income tax act, 1961 in the present case pertaining to assessment year 2005-06 when the provisions were substituted by the finance act, 2004 with effect from april 1,2005 ?. the finance (no.2) act,2004, no.23 of 2004 got presidential assent on 10th september, 2004. sub-section 2 .....

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