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....issioner of Income Tax, III BTD (1975) 221; Commissioner of Taxes, Dhaka Zone, Dhaka Vs. M/S Friends Corporation, VI BTD (1978) (AD) 140; R. M. P. Perianna Pillai & Co. Vs. Commissioner of Income-tax, Madras, Taxation (Vol. IV) 230.
Lawyers Involved:
M. A. Noor—For the applicant ...... 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:
......ry steps under section 161(2) of the Income Tax Ordinance, 1984.
Md. Habibul Gani, J: I agree.
This Case is also Reported in:
...... 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)
....issioner of Income Tax, III BTD (1975) 221; Commissioner of Taxes, Dhaka Zone, Dhaka vs. M/S Friends Corporation, VI BTD (1978) (AD) 140; R. M. P. Perianna Pillai & Co. Vs. Commissioner of Income-tax, Madras, Taxation (Vol.IV) 230. Lawyers Involved: M. A. Noor—For the applicant. ......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: ......sary steps under section 161(2) of the Income Tax Ordinance, 1984. Md. Habibul Gani J: I agree. This Case is also Reported in: ......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
....e tribunal under section the159(2)/16C/read with section 13(2) of Bank Companies Act, 1991/BRPD circular No. 10 dated 25.11.2002 was justified in upholding the imposition of excess profit tax upon a wrong construction of the expressed provision of capital and reserve under section 16C of......Income Tax Ordinance 1984
Clasue-6 of the First Schedule: Treatment of contribution by employer.-
Any sum paid by an employer as contribution towards an approved gratuity fund shall be deducted in computing his income, profits and gains for the purposes of assessment.
27. It appe......Twelve Storied Building (6th floor), Segunbagicha, Dhaka, Bangladesh....................................Respondent.
Judgment
November 10, 2014
Result:
All the questions formulated for determination are answered in the negative and in favour of assessee.
Questions f...... Taxes Appellate Tribunal, added that amount most erroneously with the income of the Assessee-applicant under the provision of section 19(1)/33D of the Income Tax Ordinance 1984, as income from other source, having no explanation.
58. The learned Deputy Attorney General Mr. S. Rashed Jahangir w..
Category: Fiscal/Taxation Law | Date: 10 Nov, 2014 | Hits: 3
....ances of the case, the Taxes Appellate Tribunal, Division Bench-1, Dhaka was legally justified in deleting the disallowances of Buying Agents Commission made under section 30(aa) for non-deduction of tax under section 53E?
The Income Tax Ordinance, 1984 (Ordinance No. XXXVI of 1984)
Sectio......T relating to addition of Buying Agent’s Commission upon misconception of law which was only applicable in case of local distributor’s commission; that the commission was not liable to be deducted at source under section 53EE, because it was enacted after the assessment year 1998-1999; t......ssary steps under section 161(2) of the Income Tax Ordinance, 1984.
Md. Habibul Gani, J: I agree.
Ed.
This Case is also Reported in:
......dvance tax from the commission or fees paid to the Agent of Foreign Buyers. The assessee claimed to have paid the agent’s commission or fee and therefore, he was liable to deduct advance tax at source before payment of commission to the Foreign Buying Agents under section 53E of the Ordinance...
Category: Fiscal/Taxation Law | Date: 10 Nov, 2014 | Hits: 0
The Commissioner of Taxes Vs. Azmat Fashions Limited, 2014, 43 CLC (HCD)
....ome Tax Ordinance, 1984 (Ordinance No. XXXVI of 1984) Sections 30(aa) and 53H On combined reading of the sections 30(aa) and 53H it is evident that the assessee was liable to deduct advance tax from the commission or fees paid to the Agent of Foreign Buyers. The assessee claimed to have pa......T relating to addition of Buying Agent’s Commission upon misconception of law which was only applicable in case of local distributor’s commission; that the commission was not liable to be deducted at source under section 53EE, because it was enacted after the assessment year 1998-1999; t......ecessary steps under section 161(2) of the Income Tax Ordinance, 1984. Md. Habibul Gani J:- I agree. Ed This case is also Reported in: ......dvance tax from the commission or fees paid to the Agent of Foreign Buyers. The assessee claimed to have paid the agent’s commission or fee and therefore, he was liable to deduct advance tax at source before payment of commission to the Foreign Buying Agents under section 53E of the Ordinance...Category: Fiscal/Taxation Law | Date: 10 Nov, 2014 | Hits: 8
Commissioner of Taxes Vs. Azmat Fashions Limited, 2014, 43 CLC (HCD)
....nce Application No. 496 of 2004 is as follows:- The assessee-applicant-M/S Azmat Fashions Limited (shortly stated as the assessee) 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 sh......T relating to addition of Buying Agent’s Commission upon misconception of law which was only applicable in case of local distributor’s commission; that the commission was not liable to be deducted at source under section 53EE, because it was enacted after the assessment year 1998-1999; t......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: ......e Ordinance disallowing an amount of Tk. 32.44,646/- as non-verifiable expenses and Tk. 51,45,649/- as Buying Agent’s Commission under section 53E of the Ordinance for non-deduction of taxes at source and added it as income of the assessee under section 30(aa) of the Ordinance. Against th..Category: Fiscal/Taxation Law | Date: 10 Nov, 2014 | Hits: 9
....imilar set of facts, are heard analogously and now disposed off by this single judgment.
2. The Assessee-applicant T.K. Gas and Cylinders Limited, being the Assessee-applicant, paying its income tax regularly under the TIN. 269-200-0800/Co.-10 preferred the instant Income Tax Reference Applicat......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
....pplicant is a businessman and also share-holder of a private limited company named, M/S. Spectra S.N. Tex Limited. The Assessee-applicant derives income from business and other sources and pay income tax under TIN. 073-102-4858/Circle-5(Salary)/Taxes Zone-3, Dhaka. The Assessee-applicant submitted i......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:
......se is also Reported in:
......014 that the Assessee-applicant is a businessman and also share-holder of a private limited company named, M/S. Spectra S.N. Tex Limited. The Assessee-applicant derives income from business and other sources and pay income tax under TIN. 073-102-4858/Circle-5(Salary)/Taxes Zone-3, Dhaka. The Assesse..
Category: Fiscal/Taxation Law | Date: 28 Oct, 2014 | Hits: 1
............Respondent.
Judgment
October 24, 2014
Result:
The rules are made absolute.
The Income Tax Ordinance, 1984 (Ordinance No. XXXVI of 1984); Section 121A
If the tax is paid as per the declaration of income of the assessee based on the assessment made unde......ed reviews and to hear the same on merit under the provision of section 121A of the Income Tax Ordinance 1984.
Md. Emdadul Haque Azad, J: I agree.
Ed.
This Case is also Reported in:
......ment
October 24, 2014
Result:
The rules are made absolute.
The Income Tax Ordinance, 1984 (Ordinance No. XXXVI of 1984); Section 121A
If the tax is paid as per the declaration of income of the assessee based on the assessment made under Section 74 of the Income Ta......ed reviews and to hear the same on merit under the provision of section 121A of the Income Tax Ordinance 1984.
Md. Emdadul Haque Azad, J: I agree.
Ed.
This Case is also Reported in:
..
Category: Fiscal/Taxation Law | Date: 24 Oct, 2014 | Hits: 1
....the circumstances the Taxes Appellate Tribunal, Division Bench-1, Dhaka is justified in law in not allowing 21/2 % depreciation allowance on the Bangabandhu Setu and also not allowing 25% income tax on its income and in upholding the appellate Order mechanically affirming arbitrary assessment c......nswered 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:
......
Vs.
The Commissioner of Taxes, Taxes Zone-1, Dhaka............................Respondent
Judgment
October 22, 2014 & October 23, 2014
Result:
The questions formulated for determination are answered in the negative and in favour of assessee.
Questions f...... and approval of the Government; to take or necessary action for the implementation of the plans approved by the Government; to undertake step to secure required point both from external and internal sources for implementation of such plans; to enter into agreements with various agencies or organiza..
Category: Fiscal/Taxation Law | Date: 23 Oct, 2014 | Hits: 1
State Vs. Md. Lutfur Rahman and others, 2014, 43 CLC (AD)
....ars imposed on the accused-respondents by the trial Court be reduced to the period they have already undergone. Ed. This Case is also Reported in: 20 BLC (AD) (2015) 150. ......ars imposed on the accused-respondents by the trial Court be reduced to the period they have already undergone. Ed. This Case is also Reported in: 20 BLC (AD) (2015) 150. ......-respondents by the trial Court be reduced to the period they have already undergone. Ed. This Case is also Reported in: 20 BLC (AD) (2015) 150. ......ars imposed on the accused-respondents by the trial Court be reduced to the period they have already undergone. Ed. This Case is also Reported in: 20 BLC (AD) (2015) 150. ..Category: Criminal Law | Date: 14 Oct, 2014 | Hits: 2
Fidelity Assets and Securities Co. vs. Commissioner of Taxes, 2014, 43 CLC (HCD)
.... been asserted in both the instant Income Tax Reference Application that the Assessee-applicant Fidelity Assets and Securities 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 incom......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: ...... Dhaka, 2nd 12th storied Building, Segunbagicha, Dhaka……………….....Respondent. Judgment September 17, 2014 Result: The questions formulated for determination are answered in the negative and in favour of assessee. Questions f...... this Ordinance, unless there is anything repugnant in the subject or context.- (1)-(33).……......... (34) Income includes- (a) any income, profits or gains, from whatever sources derived, chargeable to tax under any provision of this Ordinance under any head specified in..Category: Fiscal/Taxation Law | Date: 17 Sep, 2014 | Hits: 0
....n the circumstances and on the facts whether the Taxes Appellate Tribunal was justified maintaining the authority of making assessment order by the Additional Commissioner of Taxes against the income tax return of the assessee applicant which was submitted under section 82BB(1) of the Ordinance.
......the result, the Income Tax Reference Application is allowed.
However, there shall be no order as to cost.
Md. Emdadul Haque Azad, J: I agree.
Ed.
This Case is also Reported in:
......) Dhaka, 2nd 12th storied Building, Segunbagicha, Dhaka……………….....Respondent
Judgment
September 17, 2014
Result:
The questions formulated for determination are answered in the negative and in favour of assessee.
Questions f......r
(c) does not have loan other than from a bank or financial institution; or
(d)sum of accretion of net wealth and shown expenditure is covered by the income.
(4) No question as to the source of investment made by a new assessee deriving income from business or profession shall be rai..
Category: Fiscal/Taxation Law | Date: 17 Sep, 2014 | Hits: 2
....regarding taking loan and repayment of the same?
The Income Tax Ordinance, 1984 (Ordinance No. XXXVI of 1984); Sections 2(36) and 120
Under section 120 read with section 2(36) of the Income tax Ordinance, Inspecting Joint Commissioner of Taxes, Inspecting Additional Commissioner of Taxes o......rar, 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:
......ssary steps under section 161(2) of the Income Tax Ordinance, 1984.
Md. Habibul Gani, J: I agree.
Ed.
This Case is also Reported in:
......e?
(2) Whether, in the facts and circumstances of the case, the Tribunal was justified in confirming the addition of temporary loan received by the applicant as deemed dividend income from other sources?
(3) Whether in not taking into the consideration given by the applicant regarding taki..
Category: Fiscal/Taxation Law | Date: 17 Sep, 2014 | Hits: 0
....mdash;For the respondent
Income Tax Reference Application No. 550 of 2004
(Applications under section 160(1) of the Income Tax Ordinance, 1984)
Judgment
Zinat Ara J.- This income tax reference application under Section 160(1) of the Income Tax Ordinance, 1984 (hereinafter referr......The Registrar, 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.
This case is also Reported in:
......sary steps under section 161(2) of the Income Tax Ordinance, 1984.
Md. Habibul Gani J.- I agree.
This case is also Reported in:
......lated profit of the said companies and also shown in the balance-sheet of the companies and, as such, they said amount of loans were treated as dividend and added as income of the assessee from other sources.
6. The assessee then filed another appeal being Aikor Appeal Patra No. 28/LTU/2003-200..
Category: Fiscal/Taxation Law | Date: 17 Sep, 2014 | Hits: 8
Latifur Rahman Vs. Commissioner of Taxes, 2014, 43 CLC (HCD)
....man—For the applicant Md. Khurshedul Alam, DAG with Nurun Nahar, AAG—For the respondent Income Tax Reference Application No. 550 of 2004 Judgment Zinat Ara J.- This income tax reference application under Section 160(1) of the Income Tax Ordinance, 1984 (hereinafter referr......ngladesh, 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: ......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: ......ulated profit of the said companies and also shown in the balance-sheet of the companies and, as such, the said amount of loans were treated as dividend and added as income of the assessee from other sources. 6. The assessee then filed another appeal being Aikor Appeal Patra No. 28/LTU/2003-200..Category: Fiscal/Taxation Law | Date: 17 Sep, 2014 | Hits: 17
Fidelity Assets and Securities Co. Ltd. Vs. Commissioner of Taxes, 2014, 43 CLC (HCD)
.... expenses and legal fee and provision of bad debts. 2. In the circumstances and on the facts whether the Taxes Appellate Tribunal was justified determining the income from stocks and shares as a taxable income. The Income Tax Ordinance, 1984 (Ordinance No. XXXVI of 1984); Section 35(4) ......nswered 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: ......rvices Wing Large Tax Payer Unit (LTU) Dhaka……………….....Respondent Judgment September 16, 2014 Result: The questions No.1 and 2 formulated for determination are answered in negative and in favour of the Assessee-applicant. Questi......nswered 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: 16 Sep, 2014 | Hits: 0
Payer Mohammed Vs. Deputy Commissioner of Taxes and others, 2014, 43 CLC (HCD)
....in after referred to as the Ordinance) for the assessment year 2008-2009, 2009-2010 and 2010-2011 in the concerned Tax Circle-2, Tax Zone-1, Chittagong on 22-9-2008, 29-10-2009, 29-9-2010 paying tax with the return under section 74 of the Ordinance and the said assessment return of the ass......have been issued without lawful authority and is of no legal effect. Communicate the order at once to the respondent No. 1. Ed. This Case is also Reported in: 67 DLR (HCD) (2015) 31. ......nce to the respondent No. 1. Ed. This Case is also Reported in: 67 DLR (HCD) (2015) 31. ......have been issued without lawful authority and is of no legal effect. Communicate the order at once to the respondent No. 1. Ed. This Case is also Reported in: 67 DLR (HCD) (2015) 31. ..Category: Fiscal/Taxation Law | Date: 15 Sep, 2014 | Hits: 9
Enamul Hoque Chowdhury Vs. Deputy Commissioner of Taxes, 2014, 43 CLC (HCD)
....the Assessee-writ-petitioner in writ 13004 of 2012 has obtained the privilege of the S.R.O. No. 98 of 2007 and disclosed his undisclosed income for the assessment year 2006-2007 and paid the required tax along with the 5% penalty and that became compliance of the S.R.O. No. 98 of 2007 no question ca......ssued without lawful authority having no legal implication. However, there shall be no order as to costs. Md. Emdadul Hoque Azad, J: I agree. Ed. This Case is also Reported in: ......, Rumana Hoque Tower, 1267/A, Goshaildanga, Dist-Chittagong…………………………………Assessee-Applicant Vs. 1. National Board of Revenue, NBR Building Segunbagicha, Dhaka, Represented by it’s Chairman. ...... undisclosed income for the assessment year 2006-2007 and paid the required tax along with the 5% penalty and that became compliance of the S.R.O. No. 98 of 2007 no question can be raised against the source of such undisclosed income by the DCT concern since the provision of Paragraph-2 of the S.R.O..Category: Fiscal/Taxation Law | Date: 14 Sep, 2014 | Hits: 0
Hosaf International Limited Vs. Commissioner of Taxes, 2014, 43 CLC (HCD)
....and on the circumstances of the case, the Tribunal under 159(2) was judicious in maintaining excess estimate of commission in as much as to the fact that certificate in testimony of receipts and tax deducted therefore had been filed and while the CT(A) had no other document contrary to the amou......on the circumstances of the case, the Tribunal under 159(2) was judicious in maintaining excess estimate of commission in as much as to the fact that certificate in testimony of receipts and tax deducted therefore had been filed and while the CT(A) had no other document contrary to the amount d...... This Case is also Reported in: ......bunal under 159(2)/82C was justified in maintaining assessment in any other section other than section 82C in the year under consideration while the business transaction is supply and tax deducted at source under 52 read with Rule 16 of I.T. ordinance, 1984. The Income Tax Ordinance, 1984 (Ordi..Category: Fiscal/Taxation Law | Date: 10 Sep, 2014 | Hits: 0
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