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The Peerless General Finance And Inv. Co. Versus Commissioner of Income Tax Kolkata -I

2016 (4) TMI 816 - CALCUTTA HIGH COURT

Question for adjudication is whether the Authority failed to exercise its jurisdiction in making the intimation. Submissions are to be made and heard on that question along with on the further question as to what is an order under the Income-tax Act, .....

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Basak, J. For the Petitioner : Mr. S. Bagchi, Sr. Adv. and Mr. Gopal Ram Sharma, Adv For the Respondent : Md. Nizamuddin, Adv ORDER The Court : The petitioner assessee has challenged intimation dated 6th May, 2004 issued under Section 245 of the Inco .....

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e submits the assessee has two grounds of challenge against the impugned intimation. The first ground is the Assistant Commissioner of Income Tax failed to exercise his jurisdiction or power in holding that the said intimation was not an order under .....

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n was wrongly applied as the assessee was entitled to interest under Section 244 of the said Act. The revision under Section 264 would have yielded a result in favour of the assessee to entitle the assessee to get interest calculated at the rate of 1 .....

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rt of the authority to exercise jurisdiction vested in it. Hence, Mr. Bagchi submits, interference is warranted. Mr. Nizamuddin, learned Advocate appearing on behalf of the revenue relied on a judgment delivered by learned Single Judge of this Court .....

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n of the assessee for revision, call for a record and make such order thereon, not being an order prejudicial to the assessee. He submits in Tapan Kumar Mitra (supra) it was held that Explanation 1 under sub-section (7) applied to the said section an .....

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