Calcutta High Court

Calcutta Municipality cannot levy License Fee for Hoardings / Glow Signs

Vodafone Mobile Services Limited & Anr. Vs. The Kolkata Municipa l Corporation & Ors (Calcutta High Court)

Click here to join Online GST Certification Course Jointly by GST Professionals & Taxguru.in The Corporation authorities have contended that, they have a policy guidelines of display of advertisement within the Kolkata Metropolitan area. Under such policy guidelines, the authorities are to look at the desirability of the content of th...

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Interest Income waived is not taxable or will not form part of income

M/s. Shivlaxmi Exports Ltd. Vs Commissioner of Income Tax (Calcutta High Court)

In Shiva Laxmi Exports Ltd Vs CIT, the division bench of the Calcutta High Court held that interest income could not said to have had accrued when the same was waived by the Company by passing a resolution. While deleting the addition made in respect of the said income, the bench clarified that such income is excludable from the levy of i...

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Bogus share capital: Source of source relevant even for period before amendment to section 68

Pragati Financial Management Pvt. Ltd Vs CIT (Calcutta High Court)

Main thrust of the appellant’s case is that the provisions of Section 68 of the Act as amended could not be given retrospective operation and if that position of law was accepted, then it was not open to the C.I.T. to direct an enquiry to ascertain the source and genuineness of the sums being projected by the appellants as capital recei...

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Prisoners too have fundamental Right to Trade and Profession: HC

Soma Saha Sen Vs State of West Bengal & Ors. (Calcutta High Court)

Right to carry on trade and profession including right to convey property in course of such business is an essential fundamental right enshrined under Article 19(i)(g) of the Constitution of India and the same do not stand eclipsed by the continuing incarceration of a prisoner....

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Refund Seized Money in New Currency Notes: HC to IT Dept.

Union of India & Anr. Vs. State of West Bengal & Ors. (Calcutta High Court)

Extinguishment of liability of the Reserve Bank in respect of any specified currency note under section 3 of the Act of 2017 is subject to a direction issued by a Court of law permitting a person to hold on to specified currency notes in connection with a pending proceeding and the Bank cannot deny its liability in such cases if the said ...

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NI Act: Order Imprisoning for Default to Pay Compensation Appealable

P.S. Mitra Partha Sarathi Mitra Vs Manor Travels Private Limited and Another (Calcutta High Court)

The short question which falls for decision in this case is whether a judgment and order of conviction and sentence of imprisonment till the rising of the Court and an order of compensation imposed under Section 357(3) of the Code of Criminal Procedure with a direction to undergo imprisonment in default of payment of such compensation is ...

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A person other than member or creditor can also challenge Company Name striking off

Rishima SA Investments LLC Vs Registrar of Companies, West Bengal & Ors. (Calcutta High Court)

Is a person, not being a member or a creditor or the company itself, entitled to challenge the striking off of the name of the company under Section 560 of the Companies Act, 1956? Does the petitioner have the locus standi to file and maintain the present writ petition?...

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Sec 14A r.w. rule 8D not applies if assessee has kept shares as stock in trade

CIT Vs M/s. G K K Capital Markets (P) Limited (Calcutta High Court)

Assessing Officer had treated the claim of long term capital gain as business income. The assessee did not object to that. In such situation there could be no application of Section 14A for disallowance of expenditure incurred to earn exempt income....

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Salary of non-resident for services rendered abroad is not taxable in India

Utanka Roy Vs DIT (Calcutta High Court)

It is not disputed that the petitioner as a marine engineer had rendered services outside India for the period of 286 days. He has received his remuneration for such work from a foreign company. Consequently, the income received by the petitioner for services rendered outside India has to be considered as income received out of India and ...

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Unexplained Funds Routed to Assessee Company to Result in Additions in Hands of Both the Parties

Commissioner of Income Tax Vs M/s Trinetra Commerce and Trade pvt. ltd. (Calcutta High Court)

Section 68. Where any sum is found credited in the books of an assessee maintained for any previous year, and the assessee offers no explanation about the nature and source thereof or the explanation offered by him is not...

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