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1 - 10 of 13 (0.53 seconds)Section 147 in The Companies Act, 1956 [Entire Act]
The Companies Act, 1956
Textile Machinery Corporation ... vs The Commissioner Of Income-Tax, West ... on 25 January, 1977
It is the
further submission of the learned counsel that, in order
to deny the benefit under Section 10B, the new
undertaking must be formed by reconstruction of old
business when the assets of the old business are
transferred substantially to the new undertaking, by
placing reliance on the decision of the Apex Court in the
case of Textile Machinery Corporation Limited,
Calcutta vs. The Commissioner of Income Tax, West
Bengal, Calcutta5.
Article 226 in Constitution of India [Constitution]
Article 227 in Constitution of India [Constitution]
Ganga Saran And Sons Pvt. Ltd. Calcutta vs Income Tax Officer & Ors on 23 April, 1981
Learned counsel
further places reliance upon the decision of the Apex
Court in Ganga Saran and Sons Pvt. Ltd., vs. Income
Tax Officers and others2 to submit that the first
respondent had no reason to believe that the income of
the petitioner had escaped assessment by wrongly
claiming deduction under Section 10B; that the belief
that is to be entertained by the first respondent ought
not to be arbitrary or irrational, but after an
examination as to whether the reasons are relevant and
have a bearing on the matters in regard to which first
respondent is required to entertain the belief, before
1
W.A. No. 928/1991 D.D. 19.03.1992
2
130 ITR Page 1
10
issuing notice under Section 147; if there was a rational
and intelligible nexus between the reasons and the
belief, so that, on such reasons, no one properly
instructed on facts and laws could reasonably entertain
the belief.