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Judgment Search Results Home > Cases Phrase: income tax act Court: income tax appellate tribunal itat west bengal Page 1 of about 58 results (0.153 seconds)

Jun 09 1994 (TRI)

Jaldacca Tea Plantations Private Vs. State of West Bengal and ors.

Court : Income Tax Appellate Tribunal ITAT West Bengal

..... such assessment, even in a case where no order of assessment has been made under the indian income-tax act.section 21 prescribes various authorities for the purpose of agricultural income-tax. the west bengal agricultural income-tax officers, mentioned in section 21(c) have been empowered to exercise the powers conferred and perform the ..... judicial member, shri s.n. mukherjee, i am unable to agree that the first proviso to section 34(1) of the bengal agricultural income-tax act, 1944 ("the act", for short), is not violative of article 14 of the constitution, for reasons as discussed below. since the facts of the case as ..... constitution.37. in view of the foregoing, the application is allowed. the first proviso to sub-section (1) of section 34 of the bengal agricultural income-tax act, 1944, is declared to be ultra vires article 14 of the constitution of india and is, accordingly, struck down. the order dated december 17, ..... b. shanthi v. assistant director of inspection [1992] 197 itr 330 (mad) related to the question as to whether section 269ss of the income-tax act, 1961, under which a borrower was to be under an obligation to take a loan by an account payee cheque or account payee bank draft ..... , going to show that the representatives of the applicants stated at the time of hearing before respondent no. 4 that the assessment under the income-tax act, 1961, was under process for the assessment year 1985-86. it is alleged that on hearing such statements, respondent no. 4 caused enquiry .....

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Oct 17 2000 (TRI)

Assistant Commissioner of Vs. Govind Commissioner of

Court : Income Tax Appellate Tribunal ITAT West Bengal

..... 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 and ..... 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 shri ..... assessment 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 for ..... and 352 (cal.) of 1988 would also be set aside to be framed in the light of the assessments to be framed under the income-tax act.1. as a result of difference of opinion between the two members constituting the bench, the following two questions have been referred to me for .....

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Jun 20 2001 (TRI)

Badridas Keshawprasad Vs. Deputy Cit

Court : Income Tax Appellate Tribunal ITAT West Bengal

..... not for genuine business purposes. the borrowing is illusory and colourable. hence the assessees claim for deduction of interest paid is not allowable under section 36(1)(iii) of the income tax act, 1961.the assessees counsel raised an alternate contention that since the borrowals were at the interest rate of 12 per cent and the lending was given at the interest rate ..... for my opinion as third member on the following point of difference : "whether in the circumstances of the present case, levy of penalty under section 271(1)(c) of the income tax act. 1961 was justified." a sum of rs. 7,91,962 was paid by the assessee as interest to various parties including bank and was claimed as a deduction. on the ..... viewed that the assessees claim for rs. 2,59,000 towards interest before him was riot a bona fide claim and hence penalty under section 271(1)(c) of the income tax act, 1961 was exigible. he, therefore, imposed penalty accordingly.before us, the learned counsel for the assessee submitted that the assessees claim was bona fide and hence penalty could not be ..... above appeal filed by the assessee, refer the following point of difference to the president under section 255(4) of the income tax act, 1961 : "whether in the circumstances of the present case, levy of penalty under section 271(1)(c) of the income tax act, 1961 was justified ?" on account of difference of opinion between the judicial member and the accountant member, the matter was .....

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Jul 07 2000 (TRI)

Assistant Commissioner of Vs. Anup (India) Ltd.

Court : Income Tax Appellate Tribunal ITAT West Bengal

..... )'s order dated 10-5-1994 for the assessment year 1988-89 passed under section 251 /143(3) of the income-tax act, 1961.2. the appeal is time-barred by nine days. on the basis of the application dated 19-9-1994 and also as per ..... the arguments advanced by the ld. d.r., we condone the delay on merit and the appeal is admitted. "the learned commissioner of income-tax (appeals) was not justified in directing the assessing officer to collect date to come to a finding whether the appellant-company did carry on tea blending operation ..... through the materials available on record from which it appears that the assessee is engaged in the tea blending activities.the word "blending" is not defined in the income-lax act. however, the dictionary meaning of the blending is the mixing or the mixture. as per webslers 'dictionary, "process" means "to subject to some special process ..... 2)(iv). he has drawn our attention to the object of the section 80-i which provides that deduction is available to an assessee whose gross total income includes any profit and gains derived from an industrial undertaking which fulfils alt the conditions laid down in section 80-i(2). he further submitted that ..... with another and selling it, claimed that it was an industrial company, within the meaning of section 2(7)(c) of the finance act, 1978 entitled to concessional rate of tax." from this judgment it is clear that the hon'ble high court never discussed section 80-i which is involved in the present case. .....

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Dec 10 1998 (TRI)

Hooghly Mills Co. Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT West Bengal

..... filed by the assessee against the order passed by the commissioner of income-tax under section 263 of the income-tax act, 1961 on 31-3-1994. in the said order the cit states that deduction under section 80hhc of the act, as allowed by the assessing officer in the assessment order, was excessive ..... been held in regard to the assessment year 1989-90 that the assessee is entitled to deduction on the amount of the entire business income. he directed the assessing officer to compute the deduction under section 80hhc accordingly. it would, therefore, be evident that the result ..... over the order of the cit (appeals). on merits, therefore, we perfectly agree ..... ,72,69,408, as directed by the cit in his impugned order under section 263. only after the directions given by the cit (appeals) to take into consideration the overall business income, such replacement of figure would be required. however, the cit is not entitled to direct such a revision ..... with the learned counsel for the assessee that inasmuch as the assessment order does not suffer from any defect, it was not open to the cit .....

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Apr 21 1997 (TRI)

Jay Shree Tea and Industries Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT West Bengal

..... as, the sale of coffee or tea.the hon'ble madras high court held that the deduction was available to that assessee-company only on portion attributable to income liable to tax under the income-tax act.12. during the course of hearing before us, the learned counsel of the assessee has placed heavy reliance on the supreme court decisions in the cases of prithvi ..... of one cinema theatre, the prakash talkies, expired and thereafter the landlord filed a suit to obtain a decree for possession and an order for payment of mesne profits. the income-tax officer disallowed the claim on the ground that business of prakash talkies was not carried on by the assessee in the year in which the claim of deduction of mesne ..... and notice pay. the assessee, however, continued the other business, viz., the business of publication. the assessee claimed deduction of the amount paid as retrenchment compensation and notice pay. the income-tax officer disallowed the claim on the ground that the expenditure was incurred not in the course of business but after the closure of the business. this finding of the ..... income-tax officer was upheld by the tribunal. on reference, the hon'ble calcutta high court held so far as the tribunal held that the payment was made on the closure of .....

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Nov 22 2000 (TRI)

Eveready Industries India Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT West Bengal

..... 496; 147. on the other hand, the departmental counsel submitted that the assessee is entitled to relief under section 32ab of the act on the business income as understood under the income-tax act and as a separate head is provided for taxing dividend income and interest income, such income does not form part of profits and gains of business or profession and thus supported the orders of the ..... between the members constituting this bench when these appeals originally came up for hearing, following questions were referred for the opinion of third member under section 255(4) of the income tax act: "1. whether, on the facts and in the circumstances of the case, compensation amount of rs. 68,99,19,509 paid by the assessee company and rs. 7.5 crores ..... the opinion that the debts claimed as bad had not been written off in the books of the asscssee in terms of the provisions of section 36(2) of the income-tax act. however, the tribunal observed that, according to the principle of accountancy, the writing off denotes the charging of the amount in the profit and loss a/c, and once the ..... various businesses carried on by the assessee considered to be same and integrated business :-- (i) life insurance and general insurance business irrespective of the different mode of computation of business income under the income-tax act in cit v. prithvi insurance co. ltd. [1967] 63 itr 632 (sc); (ii) cloth business and other business in general section in hooghly trust (p.) ltd v .....

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Mar 29 1996 (TRI)

Woodcraft Products Ltd. Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT West Bengal

..... of life it will not be possible to say that such objects or purposes are of religious nature in the sense the word "religion"or "religious" are used in the income-tax act.moreover, explanation 3, in our view, does not cover a case of an object which is of a religious nature in the technical sense. it will cover a case only ..... seeing the extent to which the expression "charitable purpose' has been arrived down in scope.18. the explanation uses the expression "religious nature" which has not been defined in the income-tax act, not the word "religion" defined. therefore, we have to understand the meaning of this expression according to the plain dictionary meaning.according to stround's judicial dictionary, "religion" means : "(1 ..... year, the assessee donated a sum of rs. 1,00,000 to a trust known as "vishwamangal trust" (hereinafter referred to as "the trust". deduction under section 80g of the income tax act, 1961 ("the act"), was claimed in respect there of and allowed by the ito while completing the assessment under section 143(3), read with section 144b, of the ..... is the advancement of the object of general public utility within the meaning of section 2(15) of the act, and as such the income from securities held by the assessee-council would be exempt from any tax liability under section 11 of the act." reliance is also placed on the observations of their lordships of the supreme court in another case of addl .....

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Jul 31 2000 (TRI)

income-tax Officer Vs. Lic of India

Court : Income Tax Appellate Tribunal ITAT West Bengal

..... of the supreme court in the case of pannalal binjraj v. union of india "a humane and considerate administration of the relevant provisions of the income-tax act would go a long way in allaying the apprehensions of the assessees and if that is done in the true spirit, no assessee will be in ..... shall, at the time of payment, deduct income-tax on the amount payable at the average rate of income-tax computed on the basis of the rates in force for ..... was not required to deduct tax on this component of salary income. the liability of an employee to deduct income-tax on the amount of salary payable to his employees arises by virtue of section 192(1) of the i.t. act which reads as under : "any person responsible for paying any income chargeable under the head salaries ..... to pay the tax as required by the act. in this case the appellant company has right fully deducted tax on estimated income of its employees which excludes the c.c.a. by virtue of the direction given by the hon ..... year". a perusal of the aforesaid section makes it clear that liability of the employer is to deduct tax on the estimated income of the employees. the provision of section 201 of the i.t. act are attracted in the case of an employer when the employer does not deduct or after deducting, fails .....

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Jun 20 2001 (TRI)

Badridas Keshawprasad Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT West Bengal

..... interest of rs. 45,000 disallowed by the ito towards interest for the acquisition of shares by the assessee in bne should be allowed under section 57(iii) of the income-tax act, 1961. as already held by the tribunal in its decision dated 21-1-1980 in the case of uma goenka (supra) it cannot be said that the assessee acquired the ..... for genuine business purposes. the borrowing is illusory and colourable. hence the assessee's claim for deduction of interest paid is not allowable under section 36(1)(iii) of the income-tax act, 1961. the assessee's counsel raised an alternate contention that since the borrowals were at the interest rate of 12 1/2% and the lending was given at the interest ..... that the assessee's claim for rs. 2,59,000 towards interest before him was not a bona fide claim and hence penalty under section 271(1)(c) of the income-tax act, 1961 was exigible. he, therefore, imposed penalty accordingly.3. before us, the learned counsel for the assessee submitted that the assessee's claim was bona fide and hence penalty could ..... appeal filed by the assessee, refer the following point of difference to the president under section 255(4) of the income-tax act, 1961: "whether in the circumstances of the present case, levy of penalty under section 271(1)(c) of the i.t. act, 1961 was justified ?" 1. on account of difference of opinion between the judicial member and the accountant member, the .....

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