Judgment Search Results Home > Cases Phrase: finance act 1978 section 2 income tax Sorted by: recent Court: kolkata Page 99 of about 18,995 results (0.391 seconds)

Supreme Paper Mills Limited Vs. Assistant Commissioner, Commercial Tax ...

Court : Kolkata

Reported in : (2003)1CALLT446(HC)

..... was carrying on business of manufacturing various types of papers at its paper mill situated at village raninagar, chakdah, dist. nadia. it had challenged the notice under section 11e(2) of the bengal finance (sales tax) act, 1941, for reopening of deemed assessment for the period from 1st january, 1989 to 31st march, 1989. petitioner also filed three separate applications being registered as ..... sufficient reason for issuing such notices and it had been stated that section 11e(2) of the bengal finance (sales tax) act 1941 of section 9a(2) of the west bengal sales tax act, 1954 do not warrant recording of reason in the show-cause notice.5. section 11a of the bengal finance (sales tax) act, 1941 deals with assessment deemed to be made in certain cases. referring .....

C. Mackertich Ltd. Vs. Custodian

Court : Kolkata

Reported in : [2003]46SCL220(Cal)

..... and if the petitioner-company has any grievance against the order passed by the custodian, then the remedy lies before the special court and not under section 226. the act of 1992 is a complete court in itself and all the remedies have been provided in that code and it has prohibited the jurisdiction of all other ..... issued by the custodian. therefore, it is only an incidental action, the basic challenge is the notification notifying sri kayan as a notified person under section 3(2) of the act of 1992. no executing agency who has implemented the order can be held responsible. the calcutta stock exchange was only an executing agency and since the ..... 20-11-2001 no. custodian/13/2001p2 i, d.k. tyagi, appointed as custodian under section 3(1) of the special court (trial of offences relating to transactions in securities) act, 1992 (hereinafter referred to as the act) vide government of india, ministry of finance, department of economic affairs (banking division) no. f.4/3/ 94-scs/vig dated 4 .....

Bharat Traders (Agency) Vs. Deputy Commissioner, Commercial Taxes and ...

Court : Kolkata

Reported in : [2004]138STC174(Cal)

..... , 'tribunal') had rejected the petition filed by the petitioner in which the writ petitioner had challenged an order reopening an assessment under section 11e of the bengal finance (sales tax) act, 1941 (in short, 'the act, 1941') and also a final order of assessment which was confirmed in appeal.2. we have heard mr. chakraborty, learned advocate ..... respondent no. 1 asking him to show cause as to why fresh assessment should not be started by reopening the assessment according to the provision of section 11e(2) of the act. by an order dated 26th march, 1997, after hearing the writ petitioner, the respondent no. 1 reopened the deemed assessment and initiated a fresh ..... 1997 was totally illegal, invalid and without jurisdiction in view of the fact that for non-filing of any return for turnover tax, the provision of section 11e of the act could still be applied and therefore, the order reopening the assessment on the aforesaid ground was totally bad, illegal and without jurisdiction. it is not .....

Paharpur Cooling Towers Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Kolkata

..... the authorities below and to direct the assessing officer to treat the loss of rs. 1,41,60,772 as normal business loss to be carried forward under section 72 of the act. on the other hand, sri r.r. prasad, learned departmental representative, emphatically relied upon the authorities below, and submitted that the matter being squarely covered ..... his income from any other source under the same head." it is thus abundantly clear that the right to set off under section 70 is subject to other provisions of the act which includes section 73 as well. section 73 of the act provides as follows : "73. losses in speculation business. - (1) any loss, computed in respect of a speculation ..... was justified in confirming 'the loss from purchase and sale of shares and securities of rs. 1,41,60,772 as speculation loss as per explanation to section 73' of the act. we thus decline to interfere in the orders of the authorities below.21-33. [these paras are not reproduced here as they involve minor issues.] 34 .....

Paharpur Cooling Towers Ltd. Vs. Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2003)85ITD745(Kol.)

..... the authorities below and to direct the assessing officer to treat the loss of rs. 1,41,60,772 as normal business loss to be carried forward under section 72 of the act. on the other hand, sri r.r. prasad, learned departmental representative, emphatically relied upon the authorities below, and submitted that the matter being squarely covered ..... income from any other source under the same head." it is thus abundantly clear that the right to set off under section 70 is subject to other provisions of the act which includes section 73 as well. section 73 of the act provides as follows : (1) any loss, computed in respect of a speculation business carried on by the assessee, shall ..... was justified in confirming the loss from purchase and sale of shares and securities of rs. 1,41,60,772 as speculation loss as per explanation to section 73 of the act. we thus decline to interfere in the orders of the authorities below.in this appeal, the assessee has taken four grounds but solitary grievance of the .....

Commissioner of Wealth-tax Vs. Bajoria Properties Pvt. Ltd.

Court : Kolkata

Reported in : [2002]258ITR29(Cal)

..... rs. 50 lakhs received in advance or any investment made therefrom could not be assessed as they were not one of the specified assets under sub-section (3) of section 40 of the finance act, 1983, was not at all relevant. there is no doubt however that the wealth-tax was being levied only in respect of specified non-productive ..... of rs. 50 lakhs as received was not to be included in the net wealth, since it was not one of the specified assets under sub-section (3) of section 40 of the finance act, 1983.29. mr. bajoria submitted that the assessee on the date of the valuation was the owner of the property in question. the conveyance of ..... falls within the assets specified under sub-section (3) of section 40 of the finance act, 1983. the real issue in this reference, i think, is the scope and ambit of sub-section (2) of section 40 of the finance act, 1983. thus section 40 (sub-section (2)) of the finance act, 1983, provides :'40. (2) for the purposes of sub-section (1), the net wealth of a .....

Cwt Vs. Bajoria Properties (P) Ltd.

Court : Kolkata

Reported in : (2002)177CTR(Cal)343

..... falls within the assets specified under sub-section (3) of section 40 of the finance act, 1983. the real issue in this reference, i think, is the scope and ambit of sub-section (2) of section 40 of the finance act, 1983. thus, section 40 (sub-section (2)) of the finance act, 1983, provides :'section 40(2).for the purpose of sub-section (1), the net wealth of a ..... rs. 50 lakhs received in advance or any investment made, therefrom, could not be assessed as they were not one of the specified assets under sub-section (3) of section 40 of the finance act, 1983, was not at all relevant. there is no doubt, however, that the wealth-tax was being levied only in respect of specified non- ..... of rs. 50 lakhs as received was not to be included in the net wealth, since it was not one of the specified assets under sub-section (3) of section 40 of the finance act, 1983.15. mr. bajoria submitted that the assessee on the date of the valuation was the owner of the property in question. the conveyance .....

Tara Finvest Ltd. Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Kolkata

..... and circumstances of the case, the learned cit(a) erred in considering the business of providing finance as its principal business in terms of section 2(5b)(iv) of the interest-tax act, 1974, as assessed by the ao under section 8(3) of the interest -tax act.2. the learned counsel for the assessee submitted that the learned ao in his order considered the ..... of running a trading business has failed to fulfil the condition as principal business with reference to section 2(5b)(iv) of the act which, inter alia, includes a business of providing finance, whether by making loans or advances or otherwise for the purpose of interest-tax act. therefore, the learned cit(a) rightly upheld the decision of the ao inasmuch as the learned .....

Tara Finvest Ltd. Vs. Ito

Court : Kolkata

Reported in : (2003)81TTJ(Cal)631

..... and circumstances of the case, the learned commissioner (appeals) erred in considering the business of providing finance as its principal business in terms of section 2(5b)(iv) of the interest tax act, 1974, as assessed by the assessing officer under section 8(3) of the interest tax act.2. the learned counsel for the assessee submitted that the learned assessing officer in his order ..... of running a trading business has failed to fulfil the condition as principal business with reference to section 2(5b)(iv) of the act which, inter alia, includes a business of providing finance, whether by making loans or advances or otherwise for the purpose of interest tax act. therefore, the learned commissioner (appeals) rightly upheld the decision of the assessing officer inasmuch as the .....

Raj Ambarish Sen Alias Ambarish Sen Vs. the State of West Bengal

Court : Kolkata

Reported in : 2003CriLJ3830

..... the juvenile delinquent and of substituting the whole set of traditional, punitive norms by suitable reformatory measures short of imprisonment which are laid down under section 21 of the act. section 21 runs as follows :--(1) where a juvenile court is satisfied on inquiry that a juvenile has committed an offence, then, notwithstanding anything to ..... criminal procedure has any manner of application in such regard. but here again i am to repeat what i have already observed above that these sections of the act formulate the procedure which is to be observed for the purpose of holding trial of juvenile delinquents and such provisions have no applicability in respect ..... particularly when many other provisions of that code are actually being applied to them. this finding gets strengthened by what has been provided under section 8 of the said act which i have already discussed above. according to these provisions, if any person being a juvenile delinquent is brought otherwise than for the purpose .....