20. In Commissioner of Income Tax, Calcutta v. Karam Chandra Thapar & Ors.

Commissioner of Income Tax, Kolkata Xix, Kolkata vs. M/S Sanderson and Morgans

Bench: : The Hon’Ble Justice Surya Prakash Kesarwani & The Hon’Ble Justice Rajarshi Bharadwaj Date : 7Th February, 2024 Appearance: Mr. Vipul Kundalia, Adv. Mr. Soumen Bhattacharjee, Adv. ...For The Appellant. Mr. J. P. Khaitan, Sr. Adv. Mr. Ananda Sen, Adv. Ms. Swapna Das, Adv. Mr. Asit Kumar De, Adv. ...For The Respondent. 1. Heard Sri Vipul Kundalia, Learned Senior Standing Counsel Along With Sri Soumen Bhattacharjee, Learned Junior Standing Counsel For The Appellant/Department & Sri J. P. Khaitan, Learned Senior Counsel Assisted By Sri Ananda Sen, Smt. Swapna Das & Sri Asit Kumar De, Learned Advocates For The Respondent/Assessee.

…ghtaway applied the principle of Morley v. Tattersall and held since it was of a capital nature at the time of the receipt, it could not become the assessee’s income later on.” 20. In Commissioner of Income Tax, Calcutta vs. Karam Chandra Thapar & Ors. (1996) 10 SCC 575 (paras 4, 30, 34) the Hon’ble Supreme Court again impliedly approved the principle laid down in Sandersons & Morgans case (supra), as under:- “4. The assessee made a further appeal to the Tribunal. The Tribunal after referring to a large number of decisions including three English cases – Morley (H.M. Inspector of Taxes) v. Tattersall, Jay's The J…

Principal Commissioner of Income Tax-12, Kolkata vs. M/S.Soorajmull Nagarmull

In the result, the appeal is dismissed and the substantial questions of

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

…decision in Commissioner of Income Tax, Calcutta Versus Karam Chand and Others 8 wherein the Hon’ble Supreme Court pointed out that when no demand for payment was made, 7 (1996) 6 SCC 294 8 (1996) 10 SCC 575 ITAT NO. 46 OF 2020 REPORTABLE Page 12 of 22 common sense requires that such amount should be entered into profit and loss account for the year and to be treated as taxable. 12. In the sai…

Commissioner of Income Tax, Central II, Kolkata vs. Haldiram Bhujiwala Limited

Bench: : The Hon’Ble Justice Surya Prakash Kesarwani & The Hon’Ble Justice Rajarshi Bharadwaj Date : 7Th February, 2024 Appearance: Mr. Vipul Kundalia, Adv. Mr. Soumen Bhattacharjee, Adv. ...For The Appellant. Mr. J. P. Khaitan, Sr. Adv. Mr. Ananda Sen, Adv. Ms. Swapna Das, Adv. Mr. Asit Kumar De, Adv. ...For The Respondent. 1. Heard Sri Vipul Kundalia, Learned Senior Standing Counsel Along With Sri Soumen Bhattacharjee, Learned Junior Standing Counsel For The Appellant/Department & Sri J. P. Khaitan, Learned Senior Counsel Assisted By Sri Ananda Sen, Smt. Swapna Das & Sri Asit Kumar De, Learned Advocates For The Respondent/Assessee.

…ghtaway applied the principle of Morley v. Tattersall and held since it was of a capital nature at the time of the receipt, it could not become the assessee’s income later on.” 20. In Commissioner of Income Tax, Calcutta vs. Karam Chandra Thapar & Ors. (1996) 10 SCC 575 (paras 4, 30, 34) the Hon’ble Supreme Court again impliedly approved the principle laid down in Sandersons & Morgans case (supra), as under:- “4. The assessee made a further appeal to the Tribunal. The Tribunal after referring to a large number of decisions including three English cases – Morley (H.M. Inspector of Taxes) v. Tattersall, Jay's The J…