Income Tax Officer, Companies District I, Calcutta v. Calcutta Discount Co. Ltd.

The Pr. Commissioner of Income Tax -Central-1 vs. Ojjus Medicare Pvt. Ltd

Bench: HON'BLE MR. JUSTICE YASHWANT VARMA,HON'BLE MR. JUSTICE PURUSHAINDRA KUMAR KAURAV

…s or clearly implies it, the retrospective operation is not controlled by the commencement clause.” 11. Counsel for the Commissioner sought to derive some support from Income Tax Officer, Companies District I, Calcutta v. Calcutta Discount Co. Ltd. [23 ITR 471] in which Chakravarti, C.J., dealing with the effect of the Income Tax and Business Profits Tax (Amendment) Act, 1948, observed: “The plain effect of the substitution of the new Section 34 with effect from 30th March, 1948 is that from that date the Income Tax Act is to be read as including the new section as a part thereof and if it is to b…

M/S Hcl Technologies Ltd., Noida vs. ACIT (TDS), Noida

In the result appeal of assessee is allowed

Bench: Shri Amit Shukla & Shri Prashant Maharishihcl Technologies Ltd, Acit(Tds), Plot No. 3A, Tower 6, 14Th Floor, Vs. Noida Sector-126, Noida Pan: Aaach1645P (Appellant) (Respondent)

…can exercise his powers to assess or reassess under the amending statute which gives an expressly period of limitation and to that, the Hon'ble Supreme Court has noted decision of the Calcutta High Court in the case of ITO v. Calcutta Discount Co. Ltd. [1953] 23 ITR 471 and consequently has held the notice issued relying on amended section invalid by further observing that section as amended not to be given greater retrospectivity than is expressly mentioned. In the aforesaid decision in the case of S.S. Gadgil (supra) in para 12 and 13, the Hon'ble Supreme Court has observed and held as under : "12. In consideri…

DCIT, New Delhi vs. M/S. Dharampal Satyapal Ltd., Delhi

In the result, the appeal of the assessee is allowed and the appeal of the revenue is dismissed

Bench: Shri A.T. Varkey & Shri Prashant Maharishi

…he duty of the assessee is to disclose fully and truly all primary relevant facts, it does not extend beyond this.” 52. In page 203, the Hon’ble Supreme Court while reversing and disagreeing with the view of the Hon’ble Calcutta High Court reported in (1953) 23 ITR 471 held as under :- “ The learned Chief Justice seems to have proceeded on the basis that when from certain facts inferences are to be drawn there is a duty on the assessee to state what the correct inference should be and if he has made a wrong statement as regards the inference to be drawn that also is an "omission or failure to disclose a materia…

M/S. Dharampal Satyapal Ltd., New Delhi vs. DCIT, New Delhi

In the result, the appeal of the assessee is allowed and the appeal of the revenue is dismissed

Bench: Shri A.T. Varkey & Shri Prashant Maharishi

…he duty of the assessee is to disclose fully and truly all primary relevant facts, it does not extend beyond this.” 52. In page 203, the Hon’ble Supreme Court while reversing and disagreeing with the view of the Hon’ble Calcutta High Court reported in (1953) 23 ITR 471 held as under :- “ The learned Chief Justice seems to have proceeded on the basis that when from certain facts inferences are to be drawn there is a duty on the assessee to state what the correct inference should be and if he has made a wrong statement as regards the inference to be drawn that also is an "omission or failure to disclose a materia…