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Judgment Search Results Home > Cases Phrase: income tax act Court: income tax appellate tribunal itat kolkata Year: 2000 Page 1 of about 15 results (0.075 seconds)

Sep 12 2000 (TRI)

Shaw Scott Distilleries (P.) Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Kolkata

Decided on : Sep-12-2000

Reported in : (2001)76ITD89(Kol.)

..... , the issue was referred to the president, itat for constitution of a special bench for deciding the same. the president accordingly constituted the bench under section 255(3) of the income-tax act.3. the appeals were fixed for hearing on 4-7-2000 but on that day they were adjourned and posted for hearing on 7-7-2000 on which date they ..... could be sold in the market is a manufacturing activity, entitling it to claim the deductions, as contemplated under sections 80hh and 80-i of the income-tax act, 1961. the facts of this case and the acts of the assessee before us are also entirely different. in the case of casino (p.) ltd (supra) it was held that a hotel is mainly a ..... enactments on which courts have decided and the learned ar of the assessee relied on, arc not same. the language in those acts and sections is different. they are not akin to the language in section 80hh of the income-tax act and, therefore, the cases relied on by the learned ar of the assessee cannot be applied to the facts of the present ..... and substantial but in the instant case it is not so. here we consider necessary to refer section 80hh of the income-tax act, 1961. in order to encourage industrial activity in backward areas, this section grants deduction to an assessee, whose total income includes any profits and gains derived from an industrial undertaking (other than a mining undertaking) or the business of a .....

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Jan 04 2000 (TRI)

Pilcom Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Kolkata

Decided on : Jan-04-2000

Reported in : (2001)77ITD218(Kol.)

..... represents transfer from london to pakistan and sri lanka for disbursement of prize money in those countries for matches played therein, the same would not attract the provisions of indian income tax act. firstly, the payment under this particular clause seems to be of the nature of defraying genuine expenses incurred by the cricket boards of pakistan and sri lanka in connection with ..... certainly deserves careful attention. it is contended that, inasmuch as, all the payments were made by pilcom at london i.e.outside india, the provisions of the income-tax act, 1961 relating to deduction of tax at source will not apply to such payments, inasmuch as, the said provisions do not have any extra-territorial jurisdiction.in other words, the assessee tries to argue ..... to in sec. 194e, the principal officer and the company of which he is the principal officer does not deduct or after deducting fails to pay the tax as required by or under the income-tax act, 1961, he or it shall, without prejudice to any other consequences, which he or it may incur, be deemed to be an assessee in default in respect ..... is no doubt about the fact that where there is a conflict between the provisions of dtaa and those of the indian income tax act with regard to some particular issues, the provisions of dtaa would prevail over those of the indian income tax act. however, where there is no such conflict and in respect of matters where the dtaa is totally silent, the provisions of .....

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Oct 17 2000 (TRI)

Assistant Commissioner of Vs. Govind Ram Agarwal

Court : Income Tax Appellate Tribunal ITAT Kolkata

Decided on : Oct-17-2000

Reported in : (2001)76ITD120(Kol.)

..... the following two questions have been referred to me for decision, by the hon'ble president, itat in accordance with the provisions of section 255(4) of the income-tax act, 1961 for both these years :- (i) "whether in the facts, circumstances and evidence on record, the deletion of loan of rs. 35,18,000 ..... points of difference of opinion for consideration of the third member to decide it according to the opinion of the majority under section 255(4) of the income-tax act, 1961 : whether in the facts, circumstances and evidence on record, the deletion of loan of rs. 35,18,000 and interest thereon of rs. ..... both the parties. we have also carefully considered the legal aspects of the matter, particularly the re-opening of assessment under section 147(a) of the income-tax act, 1961. it cannot be ruled out that the re-opening of assessment may be legal and proper but at the same time the addition made may ..... of the ito to enforce the attendance of the witness if his evidence is material, in exercise of his powers under section 37(1) of the income-tax act read with order xvi rule 10 of the civil procedure code. shri chakraborty has contended that the ito did not discharge the onus cast upon him to make ..... years under appeal and, therefore, he issued notices to the assessee under section 148 of the income-tax act. he completed the reassessments under section 147(a) of the income-tax act on 18-3-1987 and determined the total income of rs. 38,88,240 for the assessment year 1974-75 and rs. 7,73,130 .....

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Feb 18 2000 (TRI)

Reckitt and Colman of India Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Kolkata

Decided on : Feb-18-2000

Reported in : (2001)77ITD198(Kol.)

..... in operation, so that a reasonable interpretation can be given to the section as a whole." the supreme court held that clause (iiid) of section 27 of the income-tax act, inserted by the finance act, 1987 with effect from assessment year 1988-89 was merely clarificatory in nature and should thus be construed retrospectively since the inception of the statute.7. as against ..... the declaratory validity of rule 1d of the wealth tax rules on the consideration of a latter amendment to the wealth tax act by inserting schedule-iii to the act almost in the same manner, in which rule 1d had earlier been enacted.8. the subsidy on export (cash assistance) is considered to constitute business income under section 28(iiib). similarly sale of rep licence ..... retrospectively even though such retrospective operation was not specifically mentioned by the legislature :-- (i) allied motors (p.) ltd. v. cit [1997] 224 itr 677 (sc) at page 686-- "the supreme court held that the first proviso inserted to section 43b by finance act, 1988 with effect from the assessment year 1989-90, should be construed as having been inserted retrospectively from the ..... . 56,65,969). the miscellaneous income again consists of the following different items :-- in the assessment, the assessing officer has considered the above-mentioned two items to be includible within total turnover of the business carried on by the assessee. his action has been upheld by the cit(a).2. at the stage of hearing of the appeal filed by the assessee .....

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Mar 31 2000 (TRI)

Assistant Commissioner of Vs. A.S. Wardekar

Court : Income Tax Appellate Tribunal ITAT Kolkata

Decided on : Mar-31-2000

Reported in : (2001)77ITD405(Kol.)

..... pointed out that accdrding to those circular receipts which were of casual or non-recurring nature were liable to income-tax if those could properly be characterised as income either in its general connotation or within the extended meaning given to the term by the income-tax act. according to the counsel of the assessee, the case relied on by the assessing officer was distinguishable because ..... the hon'ble calcutta high court in the case of b.k. roy (p.) ltd. v. cit [1995] 211 itr 500 wherein it was held that- that section 10 of the income-tax act, 1961, lays down certain categories of income which will not be included in the total income of a person. the proviso (i) to sub-section (3) of section 10 clearly recognises ..... lakhs received by the assessee did not fall within the inclusive definition of income appearing in section 2(24) of the act. there was no provision under the income-tax act which deemed such receipts as of income nature. such receipts could also hot be considered as income under the general law and accordingly, the cit (a) held the amount as capital receipt not falling within the ..... assessee cannot necessarily be deemed to be its income for the purpose of income-tax and the question whether any particular receipt is income or not depends on the nature of the receipt and the true scope and effect of the relevant taxing provision. under the income-tax act only those receipts amounting to income are assessable.according to the cit(a), in the instant case the amount of .....

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Sep 26 2000 (TRI)

Electro Urban Co-operative Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Kolkata

Decided on : Sep-26-2000

Reported in : (2001)76ITD43(Kol.)

..... being decided by a third member: "whether, the interest received by the assessee on the fixed deposit made with cesc ltd. is eligible for deduction under section 80p of the income-tax act, 1961?" 2. the assessee is a co-operative society constituted by the employees of the calcutta electric supply corporation (hereinafter called "cesc").the main object of the assessee-socicty is ..... members. the society had been rendering banking services to its members for the past 50 years and filing its returns claiming deduction under section 80p(2)(a)(i) of the income-tax act, 1961. in the assessment year 1989-90 the assessing officer under section 154 sought to rectify a mistake occurred in assessment under section 143(1)(a) inasmuch as interest received ..... assessee on the fixed deposit made with cesc ltd. is eligible for deduction under section 80p of the income-tax act, 1961?" 2. therefore, the hon'ble president, i.t.a.t. may please constitute a bench in terms of section 255(4) of the income-tax act, 1961 to resolve the issue.1. as a result of a point of difference arising between the two ..... such investments. hence, ultimately, i agree with the views expressed by the brother accountant member that the income by way of receipt as interest by the assessee on the fixed deposits made with cesc would be eligible for deduction under section 80p of the income-tax act, 1961. the issue is thus decided in favour of the assessee.7. the matter should, therefore, go .....

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May 22 2000 (TRI)

Saroj Kumar Poddar Vs. Joint Commissioner of Income-tax

Court : Income Tax Appellate Tribunal ITAT Kolkata

Decided on : May-22-2000

Reported in : (2001)77ITD326(Kol.)

..... in the hands of the assessee could not be subjected to capital gains tax.4. the assessing officer, however, referred to the provisions of section 2(24) of the income-tax act, 1961 and discussed that the definition of "income" as given therein was merely inclusive and not exhaustive. he furthermore stated that income need not necessarily arise from any business activity, investment, outlay or any ..... that case also, it was held that compensation for agreeing to refrain from carrying on competitive business constituted capital receipt not liable to income-tax.the supreme court's decision in the case of cit v. bombay burmah trading corpn. [1986] 161 itr 386 at page 401 has also been relied upon in this case. in that particular case, ..... agent on consideration of an undertaking not to engage in any rival business the same would be treated as a capital receipt not liable to income-tax." the judgment of the madras high court in the case of cit v. saraswathi publicities [1981] 132 itr 207 has also been tried to be relied upon by the ld. counsel for the assessee. in ..... enforceable obligation to pay but may even arise out of voluntary payments. the assessing officer, after discussing the observations made by the privy council in the case of cit .....

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Nov 10 2000 (TRI)

Deputy Commissioner of Vs. Machino Techno Sales Ltd.

Court : Income Tax Appellate Tribunal ITAT Kolkata

Decided on : Nov-10-2000

Reported in : (2001)76ITD113(Kol.)

..... difference of opinion between the two members, the following question has been referred to me by the president, itat under section 255(4) of the income-tax act, 1961 ;-- "whether on the fads and in the circumstances of the case, the assessee is entitled to higher rate of depreciation allowable on motor lorries ..... the following decisions.as there is difference of opinion between the members, we refer the following question to the president under section 255(4) of the income-tax act, 1961 : "whether on the facts and in the circumstances of the case, the assessee is entitled to higher rate of depreciation allowable on motor ..... the points in the above appeal filed by the department, refer the following points of difference to the president under section 255(4) of the income-tax act, 1961 :-- 1. i do not agree both on facts and in law as regards the order of the judicial member appearing above in paras ..... faridabad to calcutta, the trucks and trailers cannot be considered as having been used by the assessee in the business of running them on hire :-- (iv) income-tax commissioner v. anupchand & co. [1999] 239 itr 466 (mp).4. on the other hand, the id. counsel for the assessee submitted that the ..... documents (bills and vouchers, octroi etc.) were submitted before the assessing officer but the assessing officer has not allowed the same. in appeal the cit(a) has allowed the depreciation on trucks and trailers by treating them as public transport vehicles.4. after hearing both the sides at length .....

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Mar 08 2000 (TRI)

Deputy Commissioner of Vs. Tribeni Tissues Ltd.

Court : Income Tax Appellate Tribunal ITAT Kolkata

Decided on : Mar-08-2000

Reported in : (2001)77ITD67(Kol.)

..... august, 1992 on the following ground :-- "that on the facts and in the circumstances of the case, the learned commissioner of income-tax (appeals)-vi, calcutta erred in holding that the assessing officer wrongly in taxing the sum of rs. 61,75,888 under section 41(1) of the income-tax act, 1961 as there was no finality in respect of the liability of the purchase ..... tax." 2. briefly stated, the relevant facts giving rise to this appeal are that under the u.p. sales tax act, purchase tax was levied on the assessee. the assessee did not accept the levy but paid the ..... amount under protest. the dy. commissioner of income-tax (appeals) confirmed the order of the commercial tax officer. the assessee filed second appeal before the sales tax tribunal and the tribunal held by its order dated 20th september ..... that an amount which had been earlier allowed as a deduction while computing the income chargeable under the head "profits and gains of business or profession" can only be b subjected to income-tax in a subsequent assessment year by invoking the provisions of section 41(1) of the act and in this regard placed reliance on the decision of the supreme court in .....

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Mar 31 2000 (TRI)

Deputy Commissioner of Vs. Goodricks Group Ltd.

Court : Income Tax Appellate Tribunal ITAT Kolkata

Decided on : Mar-31-2000

Reported in : (2001)77ITD245(Kol.)

..... will henceforth be called the first assessment order). the cit(a) decided the appeal against this order along with another appeal for the assessment year ..... is a departmental appeal against the order of the commissioner oflncomc-tax (appeals) passed on 9-12-1994. the facts of the case are rather somewhat peculiar.2. the assessing officer passed thy assessment order under section 143(3) of the income-tax act, 1961 for this year on 27-3-1989 (this order ..... the assessee even against ihe disallowance of the portion of the expenses relating to restrictive clause in principle. after making various smoky discussions, the second cit(a) finally held as below : "the conclusion that flows out of the discussion above, on its own strength and motion, is quite clear. ..... same services to other lea gardens as discussed above is not wholly for business purposes. the disallowance made by him is upheld in principal.' the cit(a) thereafter discussed that, however, the claim of the assessee regarding the amount relating to this matter (the disallowance) needed lo be looked into ..... ground, the department challenges the direction given by the third cit(a) to delete the interest charged under sections 139(8) and 215 of the act. in this connection the id. dr brings our attention to the order of the second cit(a) in which he had already dismissed the grounds raised .....

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