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.... orders of the Commissioner of Taxes (Appeals) and the Deputy Commissioner of Taxes in disallowing Zakat as an expenditure laid out or expended wholly and exclusively for the purpose of the business or profession of the applicant for the assessment year 2003-2004 as laid down in section 29......ps under section 161(2) of the Income Tax Ordinance, 1984.
Md. Habibul Gani, J: I agree.
Ed.
This Case is also Reported in:
......sary repetition, the facts of the cases are summarized together as under:-
The assessee-applicant—Islami Bank Bangladesh Limited (hereinafter stated as the assessee) is a banking company incorporated under the Companies Act, 1913. The assessee has been carrying on banking business accordi...... Supreme Court of Bangladesh, is directed to take steps under section 161(2) of the Income Tax Ordinance, 1984.
Md. Habibul Gani, J: I agree.
Ed.
This Case is also Reported in:
..
Category: Fiscal/Taxation Law | Date: 11 Jan, 2015 | Hits: 1
Islami Bank Bangladesh Limited Vs. Commissioner of Taxes, 2015, 44 CLC (HCD)
....assessee-applicant—Islami Bank Bangladesh Limited (hereinafter stated as the assessee) is a banking company incorporated under the Companies Act, 1913. The assessee has been carrying on banking business according to the principle of Islami Sharia. The assessee has been paying income tax regula......ection 161(2) of the Income Tax Ordinance, 1984. Md. Habibul Gani J.- I agree. This Case is also Reported in: ......sary repetition, the facts of the cases are summarized together as under:- The assessee-applicant—Islami Bank Bangladesh Limited (hereinafter stated as the assessee) is a banking company incorporated under the Companies Act, 1913. The assessee has been carrying on banking business accordi......Court of Bangladesh, is directed to take steps under section 161(2) of the Income Tax Ordinance, 1984. Md. Habibul Gani J.- I agree. This Case is also Reported in: ..Category: Fiscal/Taxation Law | Date: 11 Jan, 2015 | Hits: 58
Bangladesh Rural Advancement Committee (BRAC) Vs. Commissioner of Taxes, 2014, 43 CLC (HCD)
...., health etc. mainly for the poorest segment of rural people. The Assessee-applicant derives fund mainly from donation from the benevolent foreign donors and also obtained money from different social business undertaking namely, Aarong, Brac Printers and Brac Dairy Farm, interest and dividend from t...... Judgment December 24, 2014 Result: The twelve Income Tax Reference Applications are allowed answering the question in negative and in favour of the assessee-applicant. Questions formulated for determination: 1. Whether in the facts and circumstances of the case the Tribuna......uestion in negative and in favour of the Assessee-applicant. However, there shall be no order as to cost. Md. Emdadul Haque Azad, J: I agree. Ed. This Case is also Reported in: ......uestion in negative and in favour of the Assessee-applicant. However, there shall be no order as to cost. Md. Emdadul Haque Azad, J: I agree. Ed. This Case is also Reported in: ..Category: Fiscal/Taxation Law | Date: 24 Dec, 2014 | Hits: 0
....s or rates in excess of which no deduction shall be admissible for expenditure in respect of entertainment are specified below:-
(a) On the first take 10 lakh of income, profits and gains of the business or profession (computed before making any allowance in respect of expenditure on entertainm......Supreme Court
High Court Division
(Special Original Jurisdiction)
Present:
AFM Abdur Rahman J
Md. Emdadul Haque Azad J
Astech Limited, represented by its Managing Director Mr. Ali Ahmed, 175, Jubilee Road (1st floor), Chittagong, Bangladesh………&hell......ed in negative and in favour of the Assessee-applicant.
However, there shall be no order as to costs.
Md. Emdadul Haque Azad J: I agree.
Ed.
This Case is also Reported in:
......ed in negative and in favour of the Assessee-applicant.
However, there shall be no order as to costs.
Md. Emdadul Haque Azad J: I agree.
Ed.
This Case is also Reported in:
..
Category: Fiscal/Taxation Law | Date: 15 Dec, 2014 | Hits: 1
Singer Bangladesh Ltd Vs. National Board of Bangladesh, 2014, 43 CLC (HCD)
....copy of this judgment be sent to the office of the Comptroller and Auditor General for future reference and guidance. Ed. This Case is also Reported in: 67 DLR (HCD) (2015) 73 ......rovisions of assessment and others. ...... (27) Constitution of Bangladesh, 1972; Article 128 Value Added Tax Act (XXII of 1991); Section 55(1) Set up of Local and Revenue Audit Directorate— Whether the local audit directorate can authoritatively look into the papers ......ther government property in the possession of any person in the service of the Republic. (2) Without prejudice to the provisions of clause (1), if it is prescribed by law in the case of any body corporate directly established by law, the accounts of that body corporate shall be audited and repo......ditor-General is a constitutional office of considerable importance. On him is cast the duty of maintaining, compiling and checking the accounts of the Republic and also of such public statutory bodies as may be prescribed by an Act of Parliament. With the approval of the President he has to pr..Category: Constitutional Law, Fiscal/Taxation Law | Date: 15 Dec, 2014 | Hits: 5
....tituted as appellant No. 1(b).
4. The case of the plaintiff, as averred in the plaint, in short, is that his son Md Humayun Kabir Gazi in 2003, obtained investment facility of Taka 1, 00,000 for business purposes for his business enterprise M/s Sabbir Gazi Furniture from Islami Bank Bangladesh ......ce President/Manager and others......Defendant-Respondents
Judgment
December 11, 2014.
Result:
First Miscellaneous Appeal is disposed of.
Civil Rule No. 647(FM) of 2012 is accordingly disposed of.
Bank’s Legal Power to Deal with Mortgaged Property—
Bank......oth on facts and law, upon evidences adduced by the parties.
Send down the copy of the judgment to the court below at once.
Ed.
This Case is also Reported in: 67 DLR (HCD) (2015) 218
......oth on facts and law, upon evidences adduced by the parties.
Send down the copy of the judgment to the court below at once.
Ed.
This Case is also Reported in: 67 DLR (HCD) (2015) 218
..
Category: Constitutional Law, Contract Law | Date: 11 Dec, 2014 | Hits: 8
....
December 8, 2014
Result:
The Rule Nisi is made absolute.
Constitution of Bangladesh, 1972; Articles 27, 31, 36 & 40
Any kind of obstruction or impediment, which affects the business/trade/occupation of the petitioners in any way is, of course, unreasonable, arbitrary,......... Respondents
Judgment
December 8, 2014
Result:
The Rule Nisi is made absolute.
Constitution of Bangladesh, 1972; Articles 27, 31, 36 & 40
Any kind of obstruction or impediment, which affects the business/trade/occupation of the petitioners in any way is, of cour......s from the date of receipt of this judgment.
Let a copy of this judgment be forwarded to the concerned respondents at once.
Ed.
This Case is also Reported in: 67 DLR (HCD) (2015) 251
......s from the date of receipt of this judgment.
Let a copy of this judgment be forwarded to the concerned respondents at once.
Ed.
This Case is also Reported in: 67 DLR (HCD) (2015) 251
..
Category: Constitutional Law, Fiscal/Taxation Law | Date: 8 Dec, 2014 | Hits: 3
....on of late Saiful Islam, Deputy Director (Accounts-1), Bangladesh Telecommunications Company Limited of 37/E, Eskaton Garden, Telejogajog Bhaban, Dhaka; that the petitioner in the course of business furnished a Bank Guarantee being BG No. IFIC/STOCK/ BG/07/ 2011 dated 4-5-2011 issued by IF......t with record, for ready reference, if so required.
Ed.
This Case is also Reported in: 67 DLR (HCD) (2015) 225
......ee and to return back the remaining amount to the petitioner; that the contemner-opposite party No.1 Bangladesh Telecommunication Company Limited (hereinafter referred to as BTCL) is a company incorporated under the Companies Act, 1994 represented by (1) Mr. SOM Kalimullah, Managing Director, B......her signed copy of the order of committal be kept with record, for ready reference, if so required.
Ed.
This Case is also Reported in: 67 DLR (HCD) (2015) 225
..
Category: Constitutional Law, Contempt of Court Law | Date: 4 Dec, 2014 | Hits: 10
....ibunal was legally justified in directing not to impose tax on non-operative interest income classified under the head ‘income from other sources’ under section 33 and also to set off the business loss violating the provision of section 46A(6) of the Income Tax Ordinance, 1984?
The ......rted in:
......Supreme Court of Bangladesh, is to take necessary steps under section 161(2) of the Income Tax Ordinance, 1984.
Md. Habibul Gani, J: I agree.
Ed.
This Case is also Reported in:
......Supreme Court of Bangladesh, is to take necessary steps under section 161(2) of the Income Tax Ordinance, 1984.
Md. Habibul Gani, J: I agree.
Ed.
This Case is also Reported in:
..
Category: Fiscal/Taxation Law | Date: 1 Dec, 2014 | Hits: 0
Commissioner of Taxes Vs. Arif Knit Spin, 2014, 43 CLC (HCD)
....ibunal was legally justified in directing not to impose tax on non-operative interest income classified under the head ‘income from other sources’ under section 33 and also to set off the business loss violating the provision of section 46A(6) of the Income Tax Ordinance, 1984? &nbs...... ......preme Court of Bangladesh, is to take necessary steps under section 161(2) of the Income Tax Ordinance, 1984. Md. Habibul Gani J: I agree. This Case is also Reported in: ......preme Court of Bangladesh, is to take necessary steps under section 161(2) of the Income Tax Ordinance, 1984. Md. Habibul Gani J: I agree. This Case is also Reported in: ..Category: Fiscal/Taxation Law | Date: 1 Dec, 2014 | Hits: 20
....ttagong. The assessee has been engaged in the manufacture and export of ready-made garments and textile goods to foreign buyers. The assessee has been employing a regular method of accounting for its business and maintaining books of accounts duly audited by a reputed audit firm. The assessee on 29.......teps under section 161(2) of the Income Tax Ordinance, 1984.
Md. Habibul Gani, J: I agree.
This Case is also Reported in:
...... Tax Appeal No. 3273 of 2003-2004. This is relating to the assessment year 2001-2002.
2. The assessee-applicant Youngone (CEPZ) Limited (shortly, the assessee) is a fully owned foreign company incorporated as a private limited company under the Companies Act, 1913 having its factory and registe...... Court of Bangladesh, is directed to take necessary steps under section 161(2) of the Income Tax Ordinance, 1984.
Md. Habibul Gani, J: I agree.
This Case is also Reported in:
..
Category: Fiscal/Taxation Law | Date: 30 Nov, 2014 | Hits: 1
Youngone (CEPZ) Limited Vs. Commissioner of Taxes, 2014, 43 CLC (HCD)
....ttagong. The assessee has been engaged in the manufacture and export of ready-made garments and textile goods to foreign buyers. The assessee has been employing a regular method of accounting for its business and maintaining books of accounts duly audited by a reputed audit firm. The assessee on 29....... steps under section 161(2) of the Income Tax Ordinance, 1984. Md. Habibul Gani J: I agree. This Case is also Reported in: ......e Tax Appeal No.3273 of 2003-2004. This is relating to the assessment year 2001-2002. 2. The assessee-applicant Youngone (CEPZ) Limited (shortly, the assessee) is a fully owned foreign company incorporated as a private limited company under the Companies Act, 1913 having its factory and registe......me Court of Bangladesh, is directed to take necessary steps under section 161(2) of the Income Tax Ordinance, 1984. Md. Habibul Gani J: I agree. This Case is also Reported in: ..Category: Fiscal/Taxation Law | Date: 30 Nov, 2014 | Hits: 17
....i) of the Income Tax Ordinance 1984 as an allowable expenditure, not being in the nature of capital or personal expenditure which had to be laid out wholly and exclusively for the purpose of the business. .......................(24)
Section 16C
The provision of section 16C ......eme Court
High Court Division
(Special Original Jurisdiction)
Present:
AFM Abdur Rahman J
Md. Emdadul Haque Azad J
One Bank Limited, represented by its Managing Director: Mr. M. Fakhrul Alam, H.R.C. Bhaban, 46, Karwan Bazar, Dhaka, Bangladesh...............................ed of by this single judgment.
2. An accumulated reading of these three Income Tax Reference Applications reveals that the Assessee-applicant One Bank Limited is a private limited company incorporated under the Companies Act 1994 and licensed under the Banking Companies Act 1991 holding TI......se three Income Tax Reference Applications are allowed.
However, there shall be no order as to cost.
Md. Emdadul Haque Azad, J: I agree.
Ed.
This Case is also Reported in:
..
Category: Fiscal/Taxation Law | Date: 10 Nov, 2014 | Hits: 3
....ee) is a private limited company. The assessee submitted its income tax return for the assessment year 2000-2001 before the Deputy Commissioner of Taxes (the DCT, in short) disclosing its income from business at Tk. 6,08,657/-. The DCT not being satisfied with the return served statutory notices und......y steps under section 161(2) of the Income Tax Ordinance, 1984.
Md. Habibul Gani, J: I agree.
Ed.
This Case is also Reported in:
......reme Court of Bangladesh is directed to take necessary steps under section 161(2) of the Income Tax Ordinance, 1984.
Md. Habibul Gani, J: I agree.
Ed.
This Case is also Reported in:
......reme Court of Bangladesh is directed to take necessary steps under section 161(2) of the Income Tax Ordinance, 1984.
Md. Habibul Gani, J: I agree.
Ed.
This Case is also Reported in:
..
Category: Fiscal/Taxation Law | Date: 10 Nov, 2014 | Hits: 0
State Vs. Secretary, Ministry of Public Administration and others, 2014, 43 CLC (AD)
....torney-General in that respect as well, as noted down hereinbefore, are expunged. Ed. This Case is also Reported in: 67 DLR (AD) (2015) 271 ......ents (In both cases) Judgment November 10, 2014. Result: The petitions are disposed of. Whether Investigation into a case by two Investigation Agencies can be done at a time or simultaneously— If investigation into a case by the two investigation agencies is allo......torney-General in that respect as well, as noted down hereinbefore, are expunged. Ed. This Case is also Reported in: 67 DLR (AD) (2015) 271 ......torney-General in that respect as well, as noted down hereinbefore, are expunged. Ed. This Case is also Reported in: 67 DLR (AD) (2015) 271 ..Category: Criminal Law, Procedural Law | Date: 10 Nov, 2014 | Hits: 4
The Commissioner of Taxes Vs. Azmat Fashions Limited, 2014, 43 CLC (HCD)
....ee) is a private limited company. The assessee submitted its income tax return for the assessment year 2000-2001 before the Deputy Commissioner of Taxes (the DCT, in short) disclosing its income from business at Tk. 6,08,657/-. The DCT not being satisfied with the return served statutory notices und......sary steps under section 161(2) of the Income Tax Ordinance, 1984. Md. Habibul Gani J:- I agree. Ed This case is also Reported in: ......upreme Court of Bangladesh is directed to take necessary steps under section 161(2) of the Income Tax Ordinance, 1984. Md. Habibul Gani J:- I agree. Ed This case is also Reported in: ......upreme Court of Bangladesh is directed to take necessary steps under section 161(2) of the Income Tax Ordinance, 1984. Md. Habibul Gani J:- I agree. Ed This case is also Reported in: ..Category: Fiscal/Taxation Law | Date: 10 Nov, 2014 | Hits: 8
Commissioner of Taxes Vs. Azmat Fashions Limited, 2014, 43 CLC (HCD)
....ee) is a private limited company. The assessee submitted its income tax return for the assessment year 2000-2001 before the Deputy Commissioner of Taxes (the DCT, in short) disclosing its income from business at Tk. 6,08,657/-. The DCT not being satisfied with the return served statutory notices und......161(2) of the Income Tax Ordinance, 1984. Md. Habibul Gani J. - I agree. Ed. This Case is also Reported in: ...... is directed to take necessary steps under section 161(2) of the Income Tax Ordinance, 1984. Md. Habibul Gani J. - I agree. Ed. This Case is also Reported in: ...... is directed to take necessary steps under section 161(2) of the Income Tax Ordinance, 1984. Md. Habibul Gani J. - I agree. Ed. This Case is also Reported in: ..Category: Fiscal/Taxation Law | Date: 10 Nov, 2014 | Hits: 9
.... the Assessee-applicant
3. An accumulated reading of the factual aspect of these two Income Tax Reference Applications reveals that the Assessee-applicant is a private limited company engaged in business of manufacture and sale of Gas Cylinder. It being the income tax assessee, submitted its in......
Vs.
The Commissioner of Taxes, Taxes Zone-1, Chittagong…………………Respondent
Judgment
October 29, 2014
Result:
The questions formulated for determination are answered in the negative and in favour of assessee.
......le No. 162(ref:)/2012 are disposed off accordingly.
However, there shall be no order as to cost.
Md. Emdadul Haque Azad J: I agree.
Ed.
This Case is also Reported in:
......le No. 162(ref:)/2012 are disposed off accordingly.
However, there shall be no order as to cost.
Md. Emdadul Haque Azad J: I agree.
Ed.
This Case is also Reported in:
..
Category: Fiscal/Taxation Law | Date: 29 Oct, 2014 | Hits: 1
....nsidered by this court, since the aforesaid questions will cover the whole situation.
4. It has been asserted in Income Tax Reference Application No. 195 of 2014 that the Assessee-applicant is a businessman and also share-holder of a private limited company named, M/S. Spectra S.N. Tex Limited.......eer Road, Ayesha Manjil, Kakrail, Dhaka……………….....Respondent
Judgment
October 27, 2014 & October 28, 2014
Result:
The questions formulated for determination are answered in the negative and in favour of assessee.
Questi......red in negative and in favour of the Assessee-applicant.
37. However, there shall be no order as to cost.
Md. Emdadul Haque Azad, J: I agree.
Ed.
This Case is also Reported in:
......red in negative and in favour of the Assessee-applicant.
37. However, there shall be no order as to cost.
Md. Emdadul Haque Azad, J: I agree.
Ed.
This Case is also Reported in:
..
Category: Fiscal/Taxation Law | Date: 28 Oct, 2014 | Hits: 1
Fidelity Assets and Securities Co. vs. Commissioner of Taxes, 2014, 43 CLC (HCD)
....urities Limited is a lease financing public limited company and a regular income tax payer, holding TIN. 003-201-4669/Audit Wing, Dhaka. The assessee-applicant company derives income from its leasing business. The Assessee-applicant submitted its income tax return for the assessment year 2009-2010 u......lip;……………………Assessee-Applicant Vs. The Commissioner of Taxes, Tax Payers Services Wing, Large Tax payers Unit (LTU) Dhaka, 2nd 12th storied Building, Segunbagicha, Dhaka……………….....Respondent. ......t, both these Income Tax Reference Applications are allowed. However, there shall be no order as to cost. Md. Emdadul Haque Azad, J: I agree. Ed. This Case is also Reported in: ......t, both these Income Tax Reference Applications are allowed. However, there shall be no order as to cost. Md. Emdadul Haque Azad, J: I agree. Ed. This Case is also Reported in: ..Category: Fiscal/Taxation Law | Date: 17 Sep, 2014 | Hits: 0
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