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

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

DCIT, CIR-5(1), , KOLKATA vs. M/S COAL INDIA LTD., KOLKATA

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

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

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

DCIT, CIR-5(1), , KOLKATA vs. M/S COAL INDIA LTD., KOLKATA

section 115J, then\nit should be that income which is acceptable to the authorities under the\nCompanies Act. There cannot be two incomes one for the purpose of\nCompanies Act and another for the purpose of Income-tax Act. If the\nLegislature 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