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Judgment Search Results Home > Cases Phrase: comparative chart of corresponding sections of 1983 act Court: kolkata Year: 1985

Jan 01 1985 (HC)

Commissioner of Income-tax Vs. Birla Cotton Spinning and Weaving Mills ...

Court : Kolkata

Decided on : Jan-01-1985

Reported in : (1986)54CTR(Cal)257,[1986]157ITR516(Cal)

..... payable by the assessee. section 273(a) provides that the income-tax officer in the course of the regular assessment proceeding has ..... itself did not absolve the assessee from filing an estimate under section 212(3) and that the imposition of penalty under section 273(b) was valid. the high court affirmed the view taken by the tribunal.18. under section 273(a) of the income-tax act, 1961, corresponding to section 18a(9) of the 1922 act, penalty may be imposed for furnishing false estimate of advance tax ..... ,216 for the first year, there was income that was determined at rs. 13,45,462 for the first year. thus there was reason for anticipating fall in income as compared to the demand raised by the revenue. there were no laches on the part of the assessee with regard to the assessment year 1967-68 and there were no penalty ..... from ginning and processing factories. the appellate assistant commissioner found that the increased profit was due to substantial increase in profit in ginning and pressing factories. he gave the following chart to come to the conclusion that the assessee filed the estimate on the basis of conditions prevailing at that time :1965-66 seasonin lakhs of rs.1966-67 seasonin lakhs .....

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Jan 31 1985 (HC)

Commissioner of Income-tax Vs. Birla Cotton Spinning and Weaving Mills ...

Court : Kolkata

Decided on : Jan-31-1985

Reported in : [1985]155ITR448(Cal)

..... false estimate of advance tax payable by the assessee. section 273(a) provides that the ito in course of the regular assessment ..... assessee from filing an estimate under section 212(3) and that the imposition of penalty under section 273(b) was valid. the high court affirmed the view taken by the tribunal. 18. under section 273(a) of the i.t. act, 1961, corresponding to section 18a(9) of the 1922 act, penalty may be imposed for furnishing ..... there was income that was determined at rs. 13,45,462 for the first year. thus, there was reason for anticipating fall in income as compared to the demand raised by the revenue. there were no laches on the part of the assessee withregard to the assessment year 1967-68 and there ..... .52 lakhs. thus, it cannot be stated that the assessee was motivated not to pay the advance tax as demanded by the ito under section 210 ofthe act. the tribunal also took note of the fact that the ito did notdispute that the statement as furnished and the explanation that was given were ..... factories. the aac found that the increase in profit was due to substantial increase in profit in ginning and pressing factories. he gave the following chart to come to the conclusion that the assessee filed the estimate on the basis of the conditions prevailing at that time : 1965-66 season1966-67 .....

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