Court : Kolkata
..... present justified in case. in the adding back the provision for doubtful debts of rs.92,15,187/- under clause (c) of the explanation to section 115j.of the 1961 act. in that view of the matter, question no.2 is answered in the affirmative and in favour of the assessee. the appeal is thus dismissed. ..... by rs.15.36 crore while computing book profit of the assessee, by misinterpreting and not correctly appreciating the true scope of explanation (c) below section 115j of the income tax act, 1961?. the facts of the case, briefly stated, are as follows. the assessee has been collecting processing charges from the certificate holders from ..... j2) in the high court at calcutta special jurisdiction (income tax) original side ita no.323 of2007commissioner of income tax, kolkata i, appellant versus the peerless general finance & investment co.ltd., respondent present: the hon'ble justice girish chandra gupta and the hon'ble justice siddhartha chattopadhyay for appellant: mr.m.nizamuddin, advocate. for .....
Tag this Judgment!Court : Kolkata
..... as consulting engineer since the petitioner was basically engaged in civil engineering construction and was not consulting engineer within the meaning of section 65(11) of the finance act, 1994. (as amended by finance act, 1997).(6) thereafter, the respondent did not proceed with the matter and the petitioner took the matter to have been closed ..... this regard. (27) it was then submitted that the impugned show cause notice has been validly issued under the proviso to section 73(1) of the finance act, 1994 as substituted by finance (no.2) act, 2004. the provision having been substituted completely prior to the issuance of the show cause notice dated 21st april, 2006, it ..... of limitation could not have been invoked. (18) by the impugned show cause notice, service tax was demanded for consulting engineering service. under section 65(31) of the finance act, 1994, at the material point of time only an engineering firm was covered and a body corporate was not included. body corporates were included .....
Tag this Judgment!Court : Kolkata
..... susanta malik versus srei equipment finance limited & anr. reported in air2015 calcutta in the following : it is true that there is a difference between the definition of court in section 2(1)(e) of the 1996 act and the definition of court in section 2(c) of the arbitration act, 1940. under the arbitration act, 1940 an application could be ..... upholding the same, it would not be construed that because of such approach all subsequent applications should be filed before the said court in view of section 42 of the act. section 42 can be activated and pressed into action, the moment the court having jurisdiction to entertain the application has, in fact, decided on merit ..... point of the time city but civil the court, said calcutta court lacks at an inherent jurisdiction to entertain the said application, the embargo under section 42 of the act cannot apply. there is competent to approach being no hesitation entertain made in the an in my mind execution earlier that this application occasion to .....
Tag this Judgment!Court : Kolkata
..... gross violation of article 14 of the constitution of india. classification of goods can only be changed by way of a notification as laid down in section 11a of the customs tariff act and every such notification has been laid before both houses of parliament. (12) cth8421200 speaks of goods which are filtering or purifying machinery and apparatus ..... central excise, baroda reported in 1990 (1) scc532 (b) the tariff heading can only be changed by way of a notification as laid down in section 11a of the customs tariff act, 1975. where a power is given to do a certain thing in a certain way, they must be done only in that way or not ..... petitioner challenges the legality and/or validity of circular no.19/2013-cus dated 9th may, 2013 issued by the central board of excise and customs.ministry of finance, (department of revenue).government of india relating to classification of filters referred to as disposable sterilized dialyzer and microbarrier for filtering blood. the said two medical appliances .....
Tag this Judgment!Court : Kolkata
..... grindlays bank ltd.versus grindlays bank employees association & ors.reported in 2001(3)chn550on the maintainability of the suit of such nature and the embargo created under section 18 of the trade unions act, 1926 does not in stricto sensu apply. this court, therefore, finds a prima facie case has been made out and the balance of convenience injunction ..... backdrop of the aforesaid impression having drawn the budget speech of the hon ble finance minister, the defendant unions have decided to go on strike between the period from 28th march, 2016 to 31st march, 2016. the plaintiff bank says that on the ..... capital shall not bring down below 51%. the sense has been percolated in the minds of the seven several trade unions by the speech of the hon ble finance minister in budget session that the share capital of the plaintiff bank would be changed and the plaintiff bank is going to be privatized wholly. from in the .....
Tag this Judgment!Court : Kolkata
..... was inextricably linked to the same. securing a prospective promotion by the first proceeding, thereafter, seeking to reopen the issue in the second proceeding by seeking retrospective promotion is an act not permitted by law. in this connection, learned counsel for the direct recruits relied on rule 53 of the writ rule of this court which makes the provision of the ..... kolkata municipal corporation. this fact has been admitted in paragraph 10 of kolkata municipal corporation s affidavit-in-opposition. however, in response to an application under the right to information act, 2005, it was informed that only 13 vacancies had occurred during the period 16.07.1996 to 15.07.1997. hence, as per regulation, only 8 (50% of 3+13 .....
Tag this Judgment!Court : Kolkata
..... be started by issuance of a show cause notice or cognizance of the offence should have been taken by a criminal court within two years of commencement of the act, 1999, under section 49 of fema, 1999. since it came into effect on 1st june, 2000 any action should have been taken by 31st may, 2002. the preservation of ..... it became legally imported after the sunset period. mr.mookerjee, learned senior advocate appearing for the writ petitioner submitted that the rights of his client under section 6 of the general clauses act, 1897 were preserved despite the sunset provision. there is no dispute that no permission is required from the reserve bank of india to allot shares ..... permission to the company to import medical equipment on its application. it also may have allowed the company to issue shares to kamal on a non-repatriable basis for financing this equipment. undoubtedly, the company would be affected by any decision of the reserve bank of india to grant licence or to revoke it. it is also .....
Tag this Judgment!Court : Kolkata
..... repay its dues, which the appellant company admittedly could not repay. accordingly, the west bengal financial corporation invoked section 29 of the state financial corporation act, 1951 and took possession of the entire assets of the appellant company, movable as well as immovable, as also its factory premises ..... , 2013 under review suffers from patent errors since the registrar of companies did not follow the procedure contained in sub-sections (1).(2).(3) and (8) of section 560 of the companies act, 1956. mr.drolia referred to the judgement of the supreme court in zuari cements limited versus regional director esic, ..... the appellant company apparently stopped production on and from november 1986, ostensibly due to financial constraints. the west bengal financial corporation, which had earlier granted finance to the appellant no.1, did not sanction any further loan to the appellant company. the west bengal financial corporation called upon the appellant company to .....
Tag this Judgment!Court : Kolkata
..... adjusted against alleged dues of concast bengal. there can be no doubt that failure to reply to a statutory notice of winding up under section 434 of the companies act gives rise to presumption of acknowledgement of liability. however, it is well settled that such presumption is rebuttable. the question is whether the ..... creditor. the learned company court directed that the period during which the winding up petitions had been pending in this court may be excluded under section 14 of the limitation act, 1963, in computing the period of limitation. the claims of the petitioning creditor against the respondent companies, which are on account of goods ..... ms.chakraborty cited union of india versus karam chand thapar & bros. (coal sales) limited & ors., reported in (2004) 3 scc504and jitendra kumar khan versus peerles general finance & investment co.ltd.& ors., reported in (2013) 8 scc769 in karam chand thapar (supra).the supreme court held that such mutual debts and creditors or cross-demands .....
Tag this Judgment!Court : Kolkata
..... clause [(ac)].of section 2 of the securities contracts (regulation) act, 1956 (42 of 1956) carried out in a recognised stock exchange; [or].(e) an eligible transaction in respect of trading in commodity derivatives carried out in a [recognised association, which is chargeable to commodities transaction tax under chapter vii of the finance act, 2013 (17 of ..... deemed business can be set off against the profit arising out of other business or businesses which may for clarity be called proper business. under section 70 of the act, the assessee is entitled to have the loss set off against his income from any other source under the same head unless otherwise provided. therefore ..... order of the commissioner of income tax (appeals) and in upholding the disallowance of rs.9,79,873/- made by the assessing officer under section 14a of the income tax act, 1961 as expenditure incurred in relation to the dividend income of rs.33,288/- and its purported findings in that behalf are arbitrary, unreasonable .....
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