Judgment Search Results Home > Cases Phrase: finance act 1994 chapter 5a advance rulings Sorted by: recent Court: kolkata Page 4 of about 70 results (0.157 seconds)

Peerless General Finance and Vs. Jt. Cit

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2003)85ITD215(Kol.)

..... in the case of sardar arjun singh ahluwalia (supra). as pointed out earlier. section 139 of income tax act, 1961 falls under chapter-xiv which deals with the procedure for filing of the return.section 80 of 1961 act falls under chapter-vi which deals with aggregation of income and set off or carry forward of loss. strict compliance to the ..... 236 (sc) that the view favourable to the assessee should be adopted, their lordships of the bombay high court in the case of cit v. thana electricity supply ltd. (1994) 206 itr 727 (bom) held as under : we have considered the submission. we have also carefully considered the decisions of the supreme court. we, however, find it ..... taxman 834 (ker). the learned departmental representative has also placed reliance on the decision of the calcutta high court in the case of koppind (p) ltd. v. cit (1994) 207 itr 228 (cal) where their lordships of the high court have dealt with the carry forward of loss in the return filed under section 148.but on analysing .....

R.P.C. Industries Ltd. Vs. Asstt. Cit

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2003)85ITD105(Kol.)

..... assessment year 1977-78 and subsequent years." as a result of omission of section 109, explanation to section 73 was amended with effect from 1-4-1988 by the finance act, 1987 (11 of 1987). as per explanation to section 73, where any part of a business of a company other than (i) for assessment years 1977-78 ..... , as already pointed out, relied upon the decision of the supreme court in the case of shahzada nand & sons (supra). on perusal of all the provisions of chapter vi relating to set off and carry forward of losses i am unable to find, either express on implied, intention of the legislature enabling to overrule the principle of generalia ..... v.arvind investment ltd. (1991) 192 itr 365 (cal) and the decision of the calcutta high court in the case of eastern aviation & industries ltd. v. cit (1994) 208 itr 1023 (cal) and reiterated that the assessing officer is quite justified in considering the loss in share business as speculation loss. the distinguished counsel for the assessee objected .....

Deepak Prakash and ors. Vs. Jayanta Kumar Bose and ors.

Court : Kolkata

Reported in : AIR2003Cal153

..... been incorporated in subsequent amendment in the said chapter of the act, whereby the proposed transferee is required to be served with notice and be heard before any pre-emptive order under section 269(ud) is passed. so following the aforesaid c.b. gautam's case the legislative amendment was made by the finance act of 1993 with effect from 17th nov. ..... so, the suit was dismissed.17. in the judgment of a learned single judge rendered in case of state bank of india v. tarit appliances pvt. ltd. reported in 1994 (2) c hn 161 on which mr. mitra has relied heavily, it was found that the plaintiff therein did not take any step and for which application for extension ..... case the suits were dismissed. he has relied on two decisions of this court reported in (1987) 91 cal wn 391 (fort gloster industries v. tatanagar transport corporation) and 1994 (2) c hn 161 (state bank of india v. tarit appliances pvt. ltd.)4. he further contends that valuable right has been accrued in favour of his client because .....

Joint Commissioner of Income-tax Vs. Haldia Investment Co. Ltd.

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2003)85ITD212Cal

..... companies other than investment company, as defined in clause (ii) of section 109. the word "other than investment company" as defined in clause (ii) of section 109 was substituted by finance act, 1987 w.e.f. 1-4-1988 by the explanation which has been quoted above. the ld. cit(a) on the basis of facts and figures available in the balance ..... of income, the income from various heads is to be disclosed and the sum total of the income from various sources will constitute the gross total income. thereafter deductions under chapter via are to be reduced in order to find out the total income which is taxable. agricultural income is to be shown separately and, therefore, this may not be ..... assessee is loss of rs. 65,79,600. the loss on sale of shares is rs. 69,20,855. in the case of eastern aviation & industries ltd. v. cit [1994] 208 itr 10231,their lordships of the calcutta high court have held that the words "income or profits and gains" should be understood as including losses also in so far .....

Paharpur Cooling Towers Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Kolkata

..... provisions and legal precedents on the issue in appeal before us.6. we find that sub chapter 'set off, or carry forward and set off' in chapter vi of the income tax act begins with section 70 which, as it stood at the material point of time, is reproduced ..... set off or, where he has no income under any other head, the whole loss shall, subject to the other provisions of this chapter, be carried forward to the following assessment year, and- (i) it shall be set off against the profits and gains, if any ..... or the whole loss where the assessee had no income from any other speculation business, shall, subject to the other provisions of this chapter, be carried forward to the following assessment year, and- (i) it shall be set off against the profits and gains, if ..... consolidated order.2. we will first take up ita no. 313/cal./98 i.e. assessee's appeal for the assessment year 1994-95.3. in first ground of appeal, the assessee is aggrieved of cit(a)'s confirming 'the loss from purchase and sale of .....

Paharpur Cooling Towers Ltd. Vs. Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Kolkata

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

..... authorities below and deliberated upon the applicable legal provisions, and legal precedents on the issue in appeal before us.we find that sub chapter set off, or carry forward and set off in chapter vi of the income tax act beings with section 70 which, as it stood at the material point of time, is reproduced below for ready reference : "save ..... loss as is not so set off or the whole loss where the assessee had no income from any other speculation business, shall, subject to the other provisions of this chapter, be carried forward to the following assessment year, and (i) it shall be set off against the profits and gains, if any, of any speculation business carried on ..... these appeals are being disposed of by way of this consolidated order.we will first take up ita no. 313/cal./98 i.e. assessees appeal for the assessment year 1994-95.in first ground of appeal, the assessee is aggrieved of commissioner (appeals)s confirming the loss from purchase and sale of shares and securities of rs. 1,41 .....

C. Mackertich Ltd. Vs. Custodian

Court : Kolkata

Reported in : [2002]108CompCas811(Cal)

..... counsel further submits that under section 9a(3) on and from the commencement of the special court (trial of offences relating to transactions in securities) amendment act, 1994, no court other than the special court shall have or be entitled to exercise any jurisdictional power or authority in relation to any matter or claim referred ..... since they involved not only the banks but also the stock market, financial institutions, psu, the central bank of the country and even the ministry of finance, other economic ministries in varying degrees. the most unfortunate aspect has been the emergence of a culture of non-accountability which permeated all sections of the government ..... . an observation that the committee has been constrained to make at a number of places in the succeeding chapters is that for all these not many have yet been identified and effectively punished.' therefore, the act by way of a legislative device was brought into existence to control the enormity of the scam and its .....

Ellenbarrie Industrial Gases Vs. Joint Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2002)83ITD111(Kol.)

..... added that in the present case also the assessments were already completed could not be reopened to be assessed in view of the provisions under section 158bc of the it act under chapter xiv-b. he reiterated that in the course of search no undisclosed income either in the form of money, bullion, jewellery or other article or thing were found ..... and hence the addition made in this regard is invalid, the learned counsel for the assessee has relied on the judgment of the tribunal in the case of kirloskar investments & finance ltd. (supra) and also on two other judgments viz., in the cases of smt rajrani gupta v. dy. cit (2000) 66 ttj (mumbai) 582 and agarwal motors v. ..... had completed the regular assessment for the asst. yr.1993-94 on 22nd jan., 1996, by accepting the genuineness of the sale-cum-lease agreement. for the asst. yr. 1994-95, the assessment is stated to have been made by way of processing under section 143(1)(a) on 8th sept., 1995, the regular assessment under section 143(3), .....

Maxlux Glass Private Limited Vs. Icici Limited Company

Court : Kolkata

Reported in : (2001)2CALLT539(HC)

..... presiding officer. section 6 provides for terms of office. section 7 provides for staff of tribunal. section 8 provides for establishment of an appellate tribunal. chapter ml of the act of 1993 deals with jurisdiction, powers and authority of tribunals. section 17 lays down that what is the jurisdiction and power of the tribunal. section ..... industrial growth centre. district howrah. west bengal. on or about 12th may. 1990 the petitioner along with industrial development bank of india (idbi) and the industrial finance corporation of india limited (ifci) entered into a participation loan agreement for granting the company a rupee loan of rs. 164 lakhs(first loan) being the ..... the case of pradeshiya industrial & investment corporation of u.p. v. worth india petrochemicals ltd. reported in : [1994]1scr815 . in this case their lordships interpreted the provisions of section 433(e) of the companies act. it was held:'an order under section 433(e) is discretionary. there must be a debt due and the .....

Shantiniketan Society and anr. Vs. State and ors.

Court : Kolkata

Reported in : (2001)1CALLT231(HC),2001(1)CHN259

..... nature as existing on the date of vesting and not prior thereto.45. we may further place on record that in terms of the provision of chapter ii or chapter ha of west bengal land reforms act, properties held by a raiyat beyond ceiling limit may be directed to be vested, but while passing an order thereunder the concerned revenue officer must ..... be assisted in discharging its duty fairly by any representations from interested parties and as a general rule that is correct.'68. in rees and others v. crane, reported in 1994(1) all er 833, it has been held :--'it is clear from the english and commonwealth decisions which have been cited that there are many situations in which natural ..... , reported in (1969)2 a.c. 147 and r. v. corwell c.s. exparte huntington, reported in 1992(2) all er 566, which has been upheld its appeal in 1994(1) all er 694. as the appellate authority has committed the aforementioned errors of law, which would go to the root of the jurisdiction, in the opinion of this court .....