COAL INDIA LIMITED ,KOLKATA vs. DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA

Bench: Shri Pradip Kumar Choubey & Shri Rakesh Mishra

section 115J, then it should be that income which is acceptable to the authorities under the Companies Act. There cannot be two incomes one for the purpose of Companies Act and another for the purpose of Income-tax Act. If the Legislature intended the Assessing Officer to reassess

DCIT, CIRCLE - 5(1), KOLKATA, KOLKATA vs. M/S. COAL INDIA LIMITED , KOLKATA

section 115J, then it should be that income which is acceptable to the authorities under the Companies Act. There cannot be two incomes one for the purpose of Companies Act and another for the purpose of Income-tax Act. If the Legislature intended the Assessing Officer to reassess

THE UNITED PROVINCES SUGAR COMPANY LTD., ,KOLKATA vs. ITO, WARD - 12(2), KOLKATA

In the result, appeal of the assessee is allowed

reassessment proceedings the ITO made addition to the assessee's income to the extent of Rs. 2,45,000 on account of addition to the assessee's income to the extent of Rs. 2,45,000 on account of addition to the assessee's income to the extent of Rs. 2,45,000 on account of ostensible transactions in hundi