Judgment Search Results Home > Cases Phrase: finance no 2 act 2009 chapter iii direct taxes Court: kolkata appellate Page 9 of about 295 results (0.715 seconds)

Paharpur Cooling Towers Ltd. Vs. Dy. Commissioner of Income-tax

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2007)109ITD69(Kol.)

..... obtaining the copy of the order shall be excluded while computing the period of limitation. he also stated that there is similar provision in section 1.2, sub-section (2) of the limitation act. he, therefore, stated that while computing the period of limitation prescribed under section 275(c), the time taken by the revenue for obtaining the ..... the disclosure made by us was completed in all respects. out of abundant precaution, we have once again checked the matter. while we find that there is no further disclosure necessary, we find that certain capital expenditure has been claimed as revenue expenditure. we would like to set right the said matter. we had purchased ..... initiated vide assessment order 14.9.1976. section 275, as, it stood at the relevant time, reads as under: 275. bar of limitation for imposing penalties. - no order imposing penalty under the chapter shall be passed -- (a) in a case where the relevant assessment or other order is the subject-matter of an appeal to the .....

Joint Commissioner of Income Tax, Vs. Usha Martine Industries Ltd.

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2007)104ITD249Cal

..... providing for any known liability. shri mitra has submitted that since clause (c) of the explanation appended below section 115ja(2) of the act provides that amounts set aside to provisions made for meeting liabilities other than ascertained liabilities should be added back to the ..... of section 115ja the addition to the book profit, which is computed as per parts-ii & iii of schedule-vi to the companies act, can be made only if it is permissible by items no. (a) to (f) of the explanation to section 115ja. we find that ..... facie adjustment under section 143(1)(a) in i.t.a. no. 683 (cal)/1999 held as under: 6.5. on perusal of clauses (a) to (f) of explanation to section 115ja(2) of the act, we find that the only relevant clause for the purpose of ..... profit determined as per p/l account prepared as per parts-ii & iii of schedule-vi to the companies act only to the extent permissible under explanation thereto. the explanation has provided six items, i.e. items no. (a) to (f) which if debited to the p .....

Joint Commissioner of Income Tax Vs. Usha MartIn Industries Ltd.

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2006)105TTJ(Kol.)543

..... be added back to the net profit by allegedly invoking the provisions of clause (b) of the explanation appended below section 115ja(2) of the act.19. the learned counsel for the assessee in support of his above argument has placed reliance on the following decisions:usha martin ..... of section 115ja the addition to the book profit, which is computed as per parts ii and iii of schedule vi to the companies act, can be made only if it is permissible by items nos. (a) to (f) of the explanation to section 115ja. we find that ..... of prima facie adjustment under section 143(1)(a) in ita no. 683/cal/1999 held as under: 6.5. on perusal of clauses. (a) to (f) of explanation to section 115ja(2) of the act, we find that the only relevant clause for the purpose of ..... determined as per p&l a/c prepared as per parts ii and iii of schedule. vi to the companies act only to the extent permissible under explanation thereto. the explanation has provided six items i.e. items nos. (a) to (f) which if debited to the .....

Nayek Paper Converters Vs. Asstt. Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2005)93ITD144(Kol.)

..... grant the refund to the assessee found due on the basis of such return. no adjustment whatsoever in the returned income or loss has been provided in sub-section (1) of section 143 of the act as operative from 1.6.1999.10. sub-section (2) of section 143 as substituted by the finance act, 2002 w.e.f. 1.6.2002 is as under ..... sum payable by him or refund of any amount due to him on the basis of such assessment".12. prior to the amendment in section 143(2) and 143(3) of the act made by the finance act, 2002 w.e.f. 1.6.2002, under procedure of assessment laid down in then existing section 143, the a.o. if he considers it necessary ..... which he has gathered, the a.o. shall pass an order of assessment determining the total income or loss, and the sum payable or refundable to the assessee. by the finance act, 2002, section 143(2) and 143(3) has been amended to introduce a concept of limited scrutiny on and from 1.6.2002 as contemplated under section 143 .....

Smt. Mina Deogun Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2008)117TTJ(Kol.)121

..... statutory objective of the new system was to favour those assessees where capital gains accrued over a long period. the cbdt, in circular no. 636, dt. 31st aug., 1992, explained provisions of finance act, 1992 relating to amended scheme of capital gains. in this circular the board explained that in the scheme prior to 1992 a specified ..... value of property at 47, golf links, new delhi as on 1st april, 1981 opted by the assessee as "cost of acquisition" under section 55(2)(b)(ii) of the it act. (ii) whether the cost inflation index applicable for financial year 1981-82 or financial year 1999-2000 should be applied for determination of indexed cost of acquisition. ..... should be given schematic interpretation. the scheme of taxation of "capital gain-can however, be understood by applying provisions of sections 2(42a), 2(47), 47(ii), 48, 49(i)(ii) and 55(2)(b)(ii) of the act. as per the provisions of these sections, where an assessee sells an inherited capital asset the capital gain is computed with .....

Kashi Nath Bose and ors. Vs. the State of West Bengal and ors.

Court : Kolkata Appellate

..... respondent-council in respect of the appellants herein. the appropriate authority of the state of west bengal is also directed to sanction and provide necessary funds to the respondent nos.2,3 and 4 immediately so that the said respondents can disburse necessary payment to the appellants herein in terms of this order within the time mentioned hereinabove. (quoted ..... amounts be calculated up to the date of requisition of the matter in respect of each such employee and then the matter be taken by the department of finance for waiver of recovery. the last portion of the said minutes of the meeting dated 27.5.1992 has been quoted by the petitioners at page 25 and ..... going to be prejudiced if the relief is granted. in the present case, if the respondents would have challenged their retirement being violative of the provisions of the act, perhaps the nigam could have taken appropriate steps to raise funds so as to meet the liability but by not asserting their rights the respondents have allowed time .....

Wealth-tax Officer Vs. Sarla Debi Birla

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (1987)21ITD302(Kol.)

..... not apply to the cases relating to the assessment years 1969-70 to 1971-72. it will no doubt apply to the assessment year 1972-73. but as we have just pointed out ..... of 'property'. it only speaks of assets which is defined under section 2(e) of the act. so, for interpreting the provision of section 4(1)(a)(ii) we cannot look to the definition of the expression 'property' as given in explanation (c). moreover, this explanation was inserted by the finance (no. 2) act, 1971 with effect from 1-4-1972 and, therefore, it will ..... under section 17. she denied that any wealth had escaped assessment. the wto was of the view that in accordance with the provisions of section 4(1)(a)(ii) of the act, the value of the gifted asset, which on the valuation date, was held by the minor daughter of the assessee is to be included in the net .....

income-tax Officer Vs. Leonhardt Andra Und Partner

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (1987)21ITD607(Kol.)

..... this country. the term 'royalty' has not been defined in the agreement. it has been defined in the explanation 2 to section 9(1)(vi). there is no dispute that sub-sections (v) to (vii) with the explanation were inserted by the finance act, 1976 w.e.f. 1-6-1976 whereas the agreement came into effect from 13-9-1960. so there cannot ..... before the lower authorities the income under the 1980- agreement was royalty within the meaning of sections 9(1)(vi) and 115a(1)(ii) of the act. on a consideration of the materials on record, we also have no doubt that the said income was such royalty.10. it was further contended by the authorised representative for the assessee that under the ..... be any doubt that the definition of 'royalty' as given in explanation 2 to section 9(1)(vi) of the act was not in the .....

S.P. Jaiswal Estates (P.) Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (1992)41ITD342(Kol.)

..... quantum of advance-tax during the financial year. it is worthwhile to reproduce the provision of section 209a which has come into effect from 1-6-1978 by virtue of finance act, 1978: 209a. computation and payment of advance lax by assessee.- (1) every person shall, in each financial year [on or before the date] on which the first instalment, or where ..... interest of rs. 4,34,727 under section 215. in the appeal against the said assessment the cit(a) held at para 14 of his appellate order dated 14-2-1983 in appeal no. 142/ cit(a) c-i/82-83 that at the time when the estimate of advance-tax was filed the assessment of the assessee for assessment year 1976 ..... all chargeable and he, therefore, deleted the same. against that order of the cit(a) dated 14-2-1983 the department came up in appeal before the tribunal. the tribunal discussed the issue in detail in its order dated 8-11-1985 in ita no. 192(cal.)/1983 and held that appeal against the charging of interest under section 215 was maintainable .....

Asstt. Cit Vs. Champdany Industries Ltd.

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2005)95ITD169(Kol.)

..... park laboratories ltd v. assistant commissioner (1995) 212 itr (at) page 1.no such explanation as given by the assessee for the first time vide its letter dated 17-2-1998 in response to the assessing officer's notice issued under section 154 of the act on 19-9-1997 was ever given by the assessee during the assessment proceedings originally ..... of fresh materials in the course of assessment of next year. it is not a case of mere change of opinion.- ess ess kay engg. (p.) ltd v.citpeerless general finance & investment co. ltd. v.dy. cit (2002) 258 itr 160 (cal.), it was held by hon'ble jurisdictional calcutta high court as under:- "head notes.-the assessee used ..... section 148 by the assessing officer is legal and valid. since the id.cit (a) did not decide the additions or disallowances as raised by the assessee in ground nos. ii and iii in the appeal filed before him, on merit, we restore the matter to him with a direction to dispose the same on merit after giving reasonable opportunity .....