PCIT Vs Akzo Noble India Limited (Calcutta High Court) Issue– Whether on the facts and in the circumstances of the case the Learned ITAT, Kolkata has erred in law in deleting the disallowance of sum of Rs.3.50 Crores and Rs.2.11 Crores for the assessment year 2006-07 and 2007-08 respectively on account of slump sale of […]
KSE Electricals Pvt. Ltd. Vs Project Director, Bangladesh Rural Electrification Board And Anr (Calcutta High Court) In contemporary business, trade and commercial transactions, both domestic and international, significant complexities are involved; for instance spatial distance between counterparties who engage in such commercial transactions. As such, it is often very difficult and challenging to approximately assess […]
Tarakeswar Estate Vs Union of India & Ors. (Calcutta High Court) The petitioner has challenged the impugned assessment order dated 20th March, 2021 under Section 143(3) of the Income Tax Act, 1961 relating to assessment year 2018-2019, mainly on the ground of violation of principle of natural justice as well as total non-application of mind […]
CIGFIL Retail Pvt. Ltd. Vs Union of India (Calcutta High Court) HC held that it is not a case of tax evasion or causing revenue loss to the Government rather petitioner’s activity of carrying on the business which cannot be called illegal is creating revenue for the State as well as in helping the State […]
PCIT Vs Bangiya Gramin Vikash Bank (Calcutta High Court) The short issue which falls for consideration is whether the exercise of jurisdiction by the Commissioner of Income Tax-14 (Kolkata) (CIT) under Section 263 of the Act was just and proper. The Tribunal considered the factual position and noted that the CIT was of the opinion […]
PCIT Vs Apeejay Shipping Ltd. (Calcutta High Court) The Tribunal rightly held that the period of limitation for the assessment year 2007-08 has to be reckoned from the date of the order passed by the Assessing Officer under Section 143(3) read with Section 263 i.e. 8th December, 2011 and not from the date of the […]
Maa Durga Plastic Vs Assistant Commissioner (Calcutta High Court) Constitutional validity of Section 140(5) of the CGST Act to the extent that it denies ITC on capital goods in transit challenged before Hon’ble Calcutta High Court Maa Durga Plastic has filed a writ petition vide W.P.A. No. 10340 of 2021 before the Hon’ble Calcutta High […]
Whether on the facts and in the circumstances of the case the Learned Tribunal, erred in law in upholding the order of the CIT (Appeals) by deleting the addition of Rs.11,39,00,000/-made by the Assessing Officer under Section 68 of Income Tax Act, 1961 by disregarding that the assessee could not satisfactorily explain the genuineness of the transactions and creditworthiness of the share applicants in question ?
Transway Wine Pvt. Ltd. Vs PCIT (Calcutta High Court) Impugned notice is quashed solely on the ground that the impugned notice was issued in the name of non-existing company in spite of revenue having notice and knowledge of non-existence of such Company. Quashing of this notice will not prevent the respondents from issuing fresh notice in […]
The allotment of a plot by the West Bengal Housing Infrastructure Development Corporation (HIDCO) to former cricketer and current BCCI President Sourav Ganguly for the purpose of establishing an educational institution was quashed as no one could claim to be exclusive, above the law and sought benefits from the State, especially when question arose for allotment of plots for commercial ventures.
