High Court Calcutta held in CIT Vs Balampur Chini Mills Pvt Ltd that even if the assesse had voluntary disclosed its income by filing revised ROI though not detected by the revenue during scrutiny proceedings u/s 143(3), penalty u/s 272(1)(c) would be levied.
In the case of M/s. Nepa Agency Co. Pvt. Ltd & Anr v Union of India, Hon’ble Calcutta High Court held that whenever in a statute a remedy is provided or an alternative remedy is there, then there is no need to entertain the Writ Petitions.
Calcutta High Court Held in the case of M/s Budge Budge Company Ltd Vs CIT if the business had been suspended for some period of time without any malice contention of the assesse and the plant was still ready for use during that suspended period also
ITAT held in CIT( Kolkatta) Vs Merlin Holding Private Limited that it was the question of the fact to decide between the share income as an investment income or as a business income. Mere Frequency of the transactions in the shares did not determine the transaction to be business transaction or investment transaction.
Calcutta High Court held In the case of CIT vs. M/s Golden Corporation Services that it appears from the grounds of the appeal that appellant did not pursue the matter seriously. There is no allegation or any proof of the fact that the appellant was prevented by any cause far less sufficient
Calcutta High Court held In the case of CIT vs. Mihir Kanti Hazra that it is well settled that creditworthiness of the alleged creditors and the source of the source are relevant enquiries. In the case of CIT Vs Precision Finance Pvt. Ltd. reported in (1994) 208 ITR 465
Calcutta High Court held In the case of CIT vs. M/s Britannia Industries Ltd. that bank charges claimed by the assessee are not relatable to the fixed assets. Bank charges are payable in consideration of the risk undertaken by the bank.
Calcutta High Court held In the case of CIT vs. M/s Kamarhatty Company Ltd. that the views expressed by the tribunal are as per law. Assessee has made the gratuity provision in respect of employees who have already retired.
In the case of Srikant Bagla Vs. Commissioner of Customs & Ors., it was held that an assessee cannot be benefitted when it is proved that the assessee had a substantial contribution to make towards the delay in the legal proceedings.
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.
