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Judgment Search Results Home > Cases Phrase: income tax act Court: income tax appellate tribunal itat west bengal Year: 1997 Page 1 of about 5 results (0.045 seconds)

Apr 21 1997 (TRI)

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

Court : Income Tax Appellate Tribunal ITAT West Bengal

Decided on : Apr-21-1997

..... 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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Jul 17 1997 (TRI)

Abhay Kumar Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT West Bengal

Decided on : Jul-17-1997

Reported in : (1997)63ITD15Cal

..... 9-1995. thereupon, the following two points of difference were referred to the president for appointing a third member under section 255(4) of the income-tax act, 1961 :- "1. whether, on the facts and circumstances of the case and in law, the assessing officer was justified in imposing penalties for ..... sufferance and punishment undergone.7. it is for these reasons i am of the considered opinion that protective penalties under any penal provisions of the income-tax act, 1961 cannot be imposed. this is the essence and ratio decidendi of the calcutta and gauhati high courts and also calcutta bench 'd' ..... the assessee who has been assessed protectively cannot be penalised protectively.4. there is no statutory authorisation or sanction for imposing protective penalties under the income-tax act and the same cannot be derived from the judgment of the apex court rendered in the case of lalji haridas (supra) relied by my ..... miss vasudha bajoria's case (supra) to which i have been a party. there is no sanction or authority under any provisions of the income-tax act, 1961 to make protective assessments. but nonetheless on the basis of the judicial sanction given by the hon'ble supreme court in the case of ..... this case because the controversy is common, that is to say; whether or not protective penalties can be levied under the penal provisions of income-tax act, 1961. it is elementary and almost universally accepted that it is not the conclusion arrived at of an earlier case which is binding precedent .....

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Feb 28 1997 (TRI)

Modern Construction Development Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT West Bengal

Decided on : Feb-28-1997

..... obtaining an expert opinion of the dist. valuation cell for determining the cost of construction by issuing summons under section 131(1)(d) of the income-tax act, 1961.however, the assessing officer was of the opinion that the reference to the valuation officer is proper as it helps the assessing officer ..... determining the actual cost of construction by issuing commission under section 131(1)(d) of the income-tax act, 1961. this act on the part of the assessing officer may be termed as proper, legal and justified. such act rather helps the assessing officer in framing the assessment order on sound reasoning and without any bias ..... substance, relate to only one issue i.e., with regard to the justification in adding a sum of rs. 3,51,877 under the head 'income from other sources'.3. brief facts in this regard are as under : by virtue of an agreement between burdwan municipality and the assessee, construction of ..... cost of construction. it was at that point of time that he could rely upon the report of the valuation officer." 10. in the case of cit v. pratapsingh amrosingh rajendra singh and deepak kumar [1993] 200 itr 788 (raj.), their lordships observed as under : "simply because the valuation report ..... .admittedly, there is huge difference in the estimate of cost of construction as per the registered valuer and the value as per the dvo.cit(a) further observed that both the registered valuer as well as the valuation officer have admitted that no detailed vouchers of the building materials .....

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Jun 10 1997 (TRI)

Plastic Concern Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT West Bengal

Decided on : Jun-10-1997

..... 'ble court, the revisional power cannot be regarded as approaching in anyway the appellate jurisdiction or even the ordinary revisional jurisdiction conferred on the cit under s. 264 of the act. thus, in our opinion, the order of the cit has no legs to stand in the light of the facts narrated above.admittedly, the ao has discussed the issue with the dy ..... except to accept the version of the assessee and complete the assessment accordingly.3. as the matter stood thus, on 24th july, 1996, the cit, wb-viii, calcutta issued a notice under s. 263 of the act directing the assessee to show cause as to why the assessment order should not be treated as erroneous in so far as it is prejudicial ..... 1. this appeal is directed against the revisional order passed by the cit under s. 263 of the it act, 1961.2. for the asst. yr. 1993-94, assessee filed return of income on 30th march, 1994. along with the return, copies of tax audit report, manufacturing and trading account and balance sheet were also filed. in the balance sheet, vide 'notes on accounts', the assessee ..... , learned departmental representative submitted that a formal enquiry by the ao is not sufficient to make an assessment and the ao should act as an investigator in the proceedings and if sufficient and adequate enquiries were not made by him, cit can exercise the revisional power to set right such irregularities. learned departmental representative filed before us the 'confidential note' of the .....

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Sep 30 1997 (TRI)

Vishnu Sugar Mills Ltd. Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT West Bengal

Decided on : Sep-30-1997

..... hands of the assessee and is, therefore, not chargeable to income-tax. the learned cit(a) has in the impugned order relied upon the provisions of s.28(iv) of the act. we are unable to accept the broad proposition canvassed by the learned cit(a) that the capital receipts arising to an assessee during the ..... those cases.4. regarding the argument of the learned cit(a) pertaining to the provisions of s. 28(iv) of the act, the learned counsel of the assessee pointed out that these provisions have been considered in scholarly treatise of sampat iyengar's "law of income-tax" 9th edn., p. 482. the learned author ..... conclusion that the incentive received by the assessee was in the nature of capital receipt and, accordingly, the same could not be assessed as business income. the learned cit(a), however, held that in the case of balarampur chini mills ltd. (supra), it was never argued that the case of the assessee fell ..... referred to the judgment in the case of lachit film vs.cit (1992) 195 itr 402 (gau ..... under s. 28(iv) of the act, which makes such income taxable. decidedly the assessee had received a benefit arising from the business by way of free .....

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