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Bank Al-Falah Limited Vs. The Commissioner of Taxes, 2014, 43 CLC (HCD)
....t has been asserted in the Income Tax Reference Application that the Assessee-applicant company is a bank, having its Head Office at Pakistan, is operating business in Bangladesh and a regular income tax payee holding TIN. 106-200-1599/LTU. In course of time the Assessee-applicant filed its income t......sment year 2008-2009 of the Assessee-applicant company bank. However, there shall be no order as to cost. Md. Emdadul Haque Azad, J: I agree. Ed. This Case is also Reported in: ......ed Building, Segunbagicha, Dhaka.……………….....Respondent Judgment September 7, 2014 & September 8, 2014 Result: The question formulated for determination is answered in the negative and in favour of assessee. Questions fo......sment year 2008-2009 of the Assessee-applicant company bank. 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: 8 Sep, 2014 | Hits: 0
Asset Developments & Holdings Ltd. vs. Commissioner of Taxes, 2014, 43 CLC (HCD)
....at the Assessee-applicant is a private limited company engaged in the business of construction of apartments for sell, wherefrom the company derives income. The Assessee-applicant is a regular income tax payer holding TIN. 269-200-1862/Sha-49. The Assessee-applicant submitted its income tax return f......nt, are answered in negative and in favour of the Assessee-applicant. However, there shall be no order as to cost. Md. Emdadul Haque Azad, J: Ed. This Case is also Reported in: ...... Vs. The Commissioner of Taxes, Taxes Zone-5, Segun bagicha, Dhaka………….....Respondent Judgment September 7, 2014 Result: The questions formulated for determination are answered in the negative and in favour of assessee. Questions f......on 35(3): Method of accounting— (1) All income classifiable under the head [“Agricultural income”], “Income from business of profession” or “Income from other sources” shall be computed in accordance with the method of accounting regularly employed by t..Category: Fiscal/Taxation Law | Date: 7 Sep, 2014 | Hits: 5
Dr. Poly Dam Vs. Deputy Commissioner of Taxes, 2014, 43 CLC (HCD)
.... The Income Tax Ordinance, 1984 (Ordinance No. XXXVI of 1984) Sections 82BB(1) and 83BB(3) The Finance Act 2011 The Assessee since obtained the finalization of her tax liability, through the deemed finalization of its return, submitted under the provision of secti......ssued without lawful authority having no legal implication. However, there shall be no order as to costs. Md. Emdadul Haque Azad, J: I agree. Ed. This Case is also Reported in: ......r. Poly Dam, wife of Prof. Dr. B.K. Dam, 129/3, Upashahar, Sapura, Rajshahi, Bangladesh………………………Assessee-Applicant Vs. 1. The National Board of Revenue, represened by its Chairman, Segunbagicha, Ramna, Dhaka. 2. The Commis......ssued without lawful authority having no legal implication. 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: 4 Sep, 2014 | Hits: 1
Subarna Garments Limited Vs. Commissioner of Taxes, 2014, 43 CLC (HCD)
....sment order without any legal basis. 2. It has been asserted in the Income Tax Reference Application that the Assessee-applicant is a export oriented garments industry, which is a regular income tax payee, holding TIN. 340-200-3996, who submitted its income tax return for the assessment year 20......s may be prescribed, the person responsible for making the payment shall, at the time of making such payment deduct tax on the amount so payable at such rate as may be prescribed. (2) Any amount deducted under sub-section (1) shall be deemed to be an advance payment of tax by the payee and shal......2nd Floor), Agrabad, Chittagong-4100………………..........................Respondent Judgment September 3, 2014 Result: The question formulated for determination is answered in the negative and in favour of assessee. Questions fo......answered 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: 3 Sep, 2014 | Hits: 1
Shah Monzurul Hoque Vs. Commissioner of Taxes, 2014, 43 CLC (HCD)
.... is nothing but violation of law. In the instant case, the DCT did not hold audit in any form. The provision of Ordinance being fiscal law is to be followed strictly in order to render justice to the tax payer of the country.…… (7), (8), (9) & (10) Cases Referred to- Spec......section 82BB of the Income Tax Ordinance 1984 in-to-to. 14. However, there shall be no order as to costs. Md. Emdadul Haque Azad, J: I agree. Ed. This Case is also Reported in: ......lso Reported in: ......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: 1 Sep, 2014 | Hits: 0
Peoples Insurance Company Limited Vs. Commissioner of Taxes, 2014, 43 CLC (HCD)
....sp; Sections 32(7) & 2(15) read with section 31of the Income Tax Ordinance 1984, it appears that the Stock in share dealt in stock market by the Insurance company is exempted from tax.......(31) Cases Referred to- Bombay City III Vs. Devkaran Nanjee Insurance Company Li......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: ......plicant Vs. The Commissioner of Taxes, Dhaka.…………………..Respondent Judgment July 24, 2014 Result: The questions formulated for determination are answered in the negative and in favour of assessee. The Income ......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: 24 Jul, 2014 | Hits: 0
Haji Mohammad Ali vs. Commissioner of Taxes, 2014, 43 CLC (HCD)
....x Ordinance 1984. In Income Tax Reference Applications being No. 304 of 2013 and Income Tax Reference Application No. 305 of 2013: 1. In the circumstances and on the facts whether the taxes appellate Tribunal Division Bench, Dhaka-1, was justified maintaining the separate proceeding ......e answered in negative and in favour of the Assessee-applicant. However, there shall be no order as costs. Md. Emdadul Haque Azad J: I agree. Ed. This Case is also Reported in: ......issioner of Taxes, Taxes Zone-02……………………..Respondent Judgment July 23, 2014 & July 24, 2014 Result: The questions formulated for determination are answered in the negative and in favour of assessee. Questions f......hance for hearing at basic assessment level to explain his position. The entire issues are therefore set aside and the DCT is directed to call for explanation regarding escapement of assessment & sources of undisclosed bank deposits as detailed in the DCT’s assessment orders for both the a..Category: Fiscal/Taxation Law | Date: 24 Jul, 2014 | Hits: 0
J.S.M. Glass Industries Limited Vs. Deputy Commissioner of Taxes, 2014, 43 CLC (HCD)
....ce, 1984 (Ordinance No. XXXVI of 1984); Section 52 The Income Tax Rule, 1984; Rule 16 The provision of section 52 of the Income Tax Ordinance 1984 liable the Gas Company to pay income tax in advance, to be deducted at the payment stage by the deducting authority. In practice the cons....... XXXVI of 1984); Section 52 The Income Tax Rule, 1984; Rule 16 The provision of section 52 of the Income Tax Ordinance 1984 liable the Gas Company to pay income tax in advance, to be deducted at the payment stage by the deducting authority. In practice the consumer does not pay the ......dustries Limited, represented by its Director, Dilkusha Centre, 28, Dilkusha (18th floor) Suit No-1803, Dhaka-1000…………………Petitioner. Vs. 1. National Board of Revenue, represented by its Chairman, Revenue Bhaban, Segunbagicha, Dhaka-1000. ......n of the provision of section 52 of the Income Tax Ordinance 1984 and rule 16 of the Income Tax Rule 1984, which not being supported by sanction of law, cannot be treated as a instrument having source of law. Even the Government in the Ministry of Finance, is not authorized to issue any circul..Category: Fiscal/Taxation Law | Date: 23 Jul, 2014 | Hits: 0
Union Capital Limited Vs. Commissioner of Taxes, 2014, 43 CLC (HCD)
....1984 (Ordinance No. XXXVI of 1984); Section 17 It has been provided in section 17 of the Income Tax Ordinance 1984 that any deemed income accrues or arises or is deemed to accrue or arise to any tax payer in Bangladesh during a year, shall be included in the total income of the assessee. But wh......e suspense account as not supported by law, is nothing but a palpable illegality and accordingly the addition of the amount shown in the suspense account as a deemed interest income is required to be deducted from the total income of the Assessee-applicant. 9. On the other hand the learned Assi......cial Original Jurisdiction) Present: AFM Abdur Rahman J Md. Emdadul Haque Azad J Union Capital Limited, represented by its Managing Director & CEO Mr. Md. Akter Hossain Sannamat ………………………………&......ad debt becomes irrecoverable, so long it is recovered by way of legal process and therefore a debt when becomes irrecoverable at any point of time, any deemed interest income from that irrecoverable source, meaning non-existent source, cannot be treated as has come within the purview of section 17(..Category: Fiscal/Taxation Law | Date: 21 Jul, 2014 | Hits: 3
Md. Jafar Ullah Vs. Bangladesh, 2014, 43 CLC (HCD)
.... given is hereby vacated. Communicate copies of this judgment to the respondents at once. Md. Badruzzaman J.- I agree. Ed.66 This Case is also Reported in: DLR (2014) (HCD) 380 ...... given is hereby vacated. Communicate copies of this judgment to the respondents at once. Md. Badruzzaman J.- I agree. Ed.66 This Case is also Reported in: DLR (2014) (HCD) 380 ......Md. Badruzzaman J Md. Jafar Ullah...................Petitioner Vs. The People’s Republic of Bangladesh represented by the Secretary, Ministry of Home Affairs, Bangladesh Secretariat, Dhaka and others................Respondents Judgment June 18, 2014. Result: ...... given is hereby vacated. Communicate copies of this judgment to the respondents at once. Md. Badruzzaman J.- I agree. Ed.66 This Case is also Reported in: DLR (2014) (HCD) 380 ..Category: Others | Date: 28 Jun, 2014 | Hits: 91
Khandker Abul Hashem Vs. The Commissioner of Taxes, 2014, 43 CLC (HCD)
....—For the respondent Income Tax Reference Applications No. 240 of 2004. (Applications under section 160 of the Income Tax Ordinance, 1984.) Judgment Zinat Ara J.- This income tax reference application under section 160 of the Income Tax Ordinance, 1984 (hereinafter referred ......e Court of Bangladesh is directed to take steps under section 161(2) of the Income Tax Ordinance, 1984. S.H. Md. Nurul Huda Jaigirdar J. - I agree. Ed. This Case is also Reported in: ......under section 161(2) of the Income Tax Ordinance, 1984. S.H. Md. Nurul Huda Jaigirdar J. - I agree. Ed. This Case is also Reported in: ......Attorney General and we do not differ with the view taken in the aforesaid decisions that an assessee has a duty to disclose fully and truly all matters relating to the income derived by him from any source to the taxes authority, but the aforesaid decisions are of Indian decisions and there was no ..Category: Fiscal/Taxation Law | Date: 9 Jun, 2014 | Hits: 3
Khandker Abul Hashem Vs. Commissioner of Taxes, 2014, 43 CLC (HCD)
....li—For the applicant Mahfuza Begum, AAG With Nurun Nahar, AAG—For the respondent. Income Tax Reference Applications No.240 of 2004. Judgment Zinat Ara J.- This income tax reference application under section 160 of the Income Tax Ordinance, 1984 (hereinafter ref......angladesh is directed to take steps under section 161(2) of the Income Tax Ordinance, 1984. S.H. Md. Nurul Huda Jaigirdar J. - I agree. Ed. This Case is also Reported in: ...... 161(2) of the Income Tax Ordinance, 1984. S.H. Md. Nurul Huda Jaigirdar J. - I agree. Ed. This Case is also Reported in: ......Attorney General and we do not differ with the view taken in the aforesaid decisions that an assessee has a duty to disclose fully and truly all matters relating to the income derived by him from any source to the taxes authority, but the aforesaid decisions are of Indian decisions and there was no ..Category: Fiscal/Taxation Law | Date: 9 Jun, 2014 | Hits: 5
....of “Whether convertible into money or not?”
3. The assessee-applicant I.M. Reazul Hasan is a public servant holding the post of Deputy Engineer, POUR Sub-Division, POUBD having tax payer identification (TIN) No.464-104-9267/C-4, Taxes Zone-1, Dhaka.
4. The assessee filed ......ngladesh is directed to take necessary steps under section 16(2) of the Income Tax Ordinance, 1984.
S. H. Md. Nurul Huda Jaigirdar J. - I agree.
This Case is also Reported in:
......r section 16(2) of the Income Tax Ordinance, 1984.
S. H. Md. Nurul Huda Jaigirdar J. - I agree.
This Case is also Reported in:
......ourt are as under:
“ (a) Whether in the facts and circumstances of the case, the Taxes Appellate Tribunal, Division Bench-4, Dhaka was justified to add Tk. 8,04,000.00 as income from other sources under section 19(11) of the Income Tax Ordinance which the Applicant received as gift from h..
Category: Fiscal/Taxation Law | Date: 4 Jun, 2014 | Hits: 5
Shafiqul Islam Vs. Bangladesh Bank and others, 2014, 43 CLC (HCD)
....f Bombay Vs. Vishnu Ramchandra, AIR 1961 (SC) 307; Channan Singh Vs. Jai Kuar (Smt.) AIR 1970 SC 349, page-351; Punjab Traders Vs. State of Punjab, AIR 1990 SC 2300, page 2304; Commissioner of Income-tax, Bombay Vs. Podar Cement Pvt. Ltd., AIR 1997 SC 2523; Brij Mohon Das Laxman Das Vs. Commissioner......stay granted earlier by this Court at the time of issuance of the said rules, thus, stand recalled and vacated Communicate this. Ed. This Case is also Reported in: 67 DLR (HCD) (2015) 270 ....... Bangladesh Bank and others............Respondents Judgment June 1, 2014. Result: All the Rules are discharged. Bank Company Act (XIV of 1991) Section 5 GaGa Declaratory and Clarificatory Amendment—"Defaulter-Borrower" Substantive right o......stay granted earlier by this Court at the time of issuance of the said rules, thus, stand recalled and vacated Communicate this. Ed. This Case is also Reported in: 67 DLR (HCD) (2015) 270 ..Category: Banking Law, Company Law | Date: 1 Jun, 2014 | Hits: 11
Beautiful Bibi Vs. Md. Sydur Rahman, 2014, 43 CLC (HCD)
..... The photocopies of the said deposition and the Exhibits X, X (1) and X (2) attested by the Bench officer shall be retained. Ed. This Case is also Reported in: 67 DLR (HCD) (2015) 1 ....... The photocopies of the said deposition and the Exhibits X, X (1) and X (2) attested by the Bench officer shall be retained. Ed. This Case is also Reported in: 67 DLR (HCD) (2015) 1 ......in CR No. 4049 of 2012 is discharged. The Rule issued in CR 4153 of 2012 is made absolute. DNA Test accepted worldwide as a reliable scientific method for various purposes including determination of parentage The DNA report contains the analysis of data of the child and also of both p...... the child was born within six months of the registration on 28-12-2006 the child cannot be considered as the son of the defendant as per Muslim Law. 43. The appellate court did not refer to the source of the rule of Muslim Law on which he relied on the point of illegitimacy of a child born wit..Category: Women and Children | Date: 19 May, 2014 | Hits: 29
....n both the applications)
Income Tax Reference Application No. 254 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...... Court of Bangladesh, is to take necessary steps under section 161(2) of the Income Tax Ordinance, 1984.
S. H. Md. Nurul Huda Jaigirdar J:- I agree.
Ed
This Case is also Reported in:
...... under section 161(2) of the Income Tax Ordinance, 1984.
S. H. Md. Nurul Huda Jaigirdar J:- I agree.
Ed
This Case is also Reported in:
......he assessee’s organization does not run solely and exclusively for religious and charitable purposes to be held under the Trust or other legal obligation; that the DCT elaborately discussed the source of income derived by BRAC and at the same time discussed the implication and interpretation o..
Category: Fiscal/Taxation Law | Date: 14 May, 2014 | Hits: 9
Bangladesh Rural Advancement Committee (BRAC) Vs. Commissioner of Taxes, 2014, 43 CLC (HCD)
....gir, DAG with Mahfuza Begum, AAG,Nurun Nahar, AAG—For the respondent in both the applications. Income Tax Reference Application No.254 of 2004 Judgment Zinat Ara J.- This income tax reference application under Section 160(1) of the Income Tax Ordinance, 1984 (hereinafter referr......esh, is to take necessary steps under section 161(2) of the Income Tax Ordinance, 1984. S. H. Md. Nurul Huda Jaigirdar J. - I agree. This Case is also Reported in: ......(2) of the Income Tax Ordinance, 1984. S. H. Md. Nurul Huda Jaigirdar J. - I agree. This Case is also Reported in: ......he assessee’s organization does not run solely and exclusively for religious and charitable purposes to be held under the Trust or other legal obligation; that the DCT elaborately discussed the source of income derived by BRAC and at the same time discussed the implication and interpretation o..Category: Fiscal/Taxation Law | Date: 14 May, 2014 | Hits: 3
Bangladesh Rural Advancement Committee (BRAC) VS. The Commissioner of Taxes, 2014, 43 CLC (HCD)
....essment year, any income derived from house property held under trust or other legal obligation or from operation of micro credit program by such trust or obligation is excluded from total income and tax exempted income.........................(20) The incomes from interest of bank accounts, de...... Bangladesh is directed to take necessary steps under section 161(2) of the Income Tax Ordinance, 1984. S. H. Md. Nurul Huda Jaigirdar J.- I agree. Ed. This case is also Reported in: ......under section 161(2) of the Income Tax Ordinance, 1984. S. H. Md. Nurul Huda Jaigirdar J.- I agree. Ed. This case is also Reported in: ......ixed deposits are not excluded income under the then prevailing provision of this Ordinance. Moreover, incomes from interest from FDR, debentures and bank accounts are classified as income from other sources under section 20 of the Ordinance. So, it cannot be treated as an income derived from micro ..Category: Fiscal/Taxation Law | Date: 12 May, 2014 | Hits: 5
Bangladesh Rural Advancement Committee (BRAC) Vs. Commissioner of Taxes, 2014, 43 CLC (HCD)
....nce Application No. 256 of 2004 Judgment Zinat Ara J.- Similar questions have been raised in Income Tax Reference Applications No. 255 of 2004 and 256 of 2004 and the parties to the income tax reference applications (hereinafter referred to as the reference applications) are same. Therefo......ngladesh is directed to take necessary steps under section 161(2) of the Income Tax Ordinance, 1984. S. H. Md. Nurul Huda Jaigirdar J.- I agree. This Case is also Reported in: ......r section 161(2) of the Income Tax Ordinance, 1984. S. H. Md. Nurul Huda Jaigirdar J.- I agree. This Case is also Reported in: ......ments for both the assessment years, computing total income at Tk. 24,70,52,980/- for the assessment year 2001-2002 and Tk. 34,18,94,931/- for the assessment year 2002-2003. The IACT identified three sources of income of the assessee, namely,- (i) donations received, (ii) business and industrial und..Category: Fiscal/Taxation Law | Date: 12 May, 2014 | Hits: 5
State Vs. Faisal Morshed Khan and another, 2014, 43 CLC (AD)
....laration of the value of the said house given by the respondent was correct and genuine value of the building. He also submits that the valuation of the house having been disclosed in the income tax report was a known and disclosed income of the respondent and that section 27(1) of the Act......ccordingly, both the criminal petitions for leave to appeal are dismissed with the observation made in the body of the judgment. Ed. This Case is also Reported in: 66 DLR (AD) (2014) 236. ......nal petitions for leave to appeal are dismissed with the observation made in the body of the judgment. Ed. This Case is also Reported in: 66 DLR (AD) (2014) 236. ......e Emergency Power Rules read with section 109 of the Penal Code by giving false statement of wealth to the said Commission by acquiring and possessing the property disproportionate to his lawful source of income. 6. After lodging of the FIR, the said Commission on 3-12-2007 gave respo..Category: Anti-Corruption Laws | Date: 5 May, 2014 | Hits: 8
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