Kolkata High Court

Deficit incurred in earlier years by a Trust can be treated as application of Income in Subsequent year

Devi Kamal Trust Estate Vs. Director of Income Tax (Exemption) Kolkata & Ors. (Calcutta High Court)

Deficit incurred by a trust could not be treated in the same way as that of a loss sustained by an assessee under the head ‘profits and gains of business or profession‘ for such deficit to be furnished in a return and verified. The same was to be allowed to be set off against surplus […]...

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Compensation paid for damage to environment is allowable

Shyam SEL Ltd. vs. DCIT (Kolkata High Court)

The compensation was paid because the assessee had failed to install the pollution control device within the time prescribed. Therefore, payment of the sum of Rs.12,50,000/- is not hit by Explanation-1 to Section 37 of the Act. The Hon’ble judges of the Kolkata High Court by setting aside the orders of ITAT held that payment was und...

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Appellate order passed without reasons for conclusions Not Valid

CIT,TDS Vs Khadim Shoes Pvt Ltd (Kolkatta High Court)

High Court Kolkatta held in CIT,TDS Vs Khadim Shoes Pvt Ltd that the order passed by the CIT(A) should contain reasons for its conclusions of decisions. An order without reasons is of no relevance. So the appeal had been dismissed....

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Income from business of letting of property taxable as Business Income

Shyam Burlap Company Ltd Vs CIT (Kolkata High Court)

Kolkatta High court held Shyam Burlap Company Ltd Vs CIT that as the assesse’s main business is purchasing, developing and letting out of property. The same was mentioned in the object clause of memorandum of the company....

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Drawings / designs expressed on a media is classified as good Under Excise / Custom tariff so not liable to service tax

Mitsui & Co. Ltd. Vs Commissioner of Central Excise & Service Tax, Jamshedpur (Kolkata High Court)

we are of the considered opinion that the designs and drawings which were imported and assessed as 'goods', cannot be subjected to Service tax, hence, no Service tax is chargeable on that part of the contract relating to Contract No. CRMP/CON/SPM/03 dated 16-7-1998 attributing towards the value of designs and drawings. ...

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