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Dcit, Circle - 11(1), Kolkata, Kolkata vs M/S. Graphite India Ltd., Kolkata on 13 September, 2024
cites
The Transfer Of Property Act, 1882
Finance Act, 2012
Section 53A in The Transfer Of Property Act, 1882 [Entire Act]
Section 2 in The Transfer Of Property Act, 1882 [Entire Act]
The Income Tax Act, 1961
Section 47 in Finance Act, 2012 [Entire Act]
Commissioner Of Income-Tax Vidarbha vs Godavaridevi Saraf on 27 September, 1977
It should not be overlooked that the Income-tax Act is an All-India stature
and if an Income-tax Tribunal in Madras, in view of the decision of the
Madras High Court, has to proceed on the footing that section 140A(3) was
non-existent, the order of penalty there-under cannot be imposed by the
authority under the Act. Until a contrary decision is given by any other
competent High Court, which is binding on a Tribunal in the State of
Bombay, it has to proceed on the footing that the law declared by the High
Court, though of another State, is the final law of the land. When the
Tribunal set aside the order of penalty it did not go into the question of intra
vires or ultra vires. It did not go into the question of constitutionality of
section 140A(3). That section was already declared ultra vires by a
competent High Court in the country and an authority like an Income-tax
Tribunal acting anywhere in the country has to respect the law laid down
by the High Court, though of a different State, so long as there is no contrary
decision of any other High Court on that question."
The Companies Act, 1956
Commissioner Of Income Tax, ... vs M/S Itc Ltd. on 4 April, 2016
"Ground no. 6 is on the exclusion of tax or duty in the computation of TP of
power for computing deduction u/s 80(a)(ia) of the Act. This issue is covered
in favour of the assessee by the decisions of the Tribunal in the assessee's
own case for the Assessment Years 2003-04, 2004-05 & 2005-06. The ld.
DR, relied on the order of the jurisdictional High Court in the case of
Commissioner of Income-tax, Kolkata - III v. ITC Ltd. [2015] 64 taxmann.com
214 (Calcutta). This Bench of the Tribunal has considered this issue and in
its order dt. 09/11/2016, ITA 399/Kol/2008 for Assessment Year 2004-05
& ITA No. 538/Kol/2008 for the Assessment Year 2004-05, has at para 6,
held as follows:-