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Judgment Search Results Home > Cases Phrase: income tax act Court: income tax appellate tribunal itat west bengal Year: 1999 Page 1 of about 8 results (0.049 seconds)

Jul 26 1999 (TRI)

Deputy Commissioner of Vs. Central Concrete and Allied

Court : Income Tax Appellate Tribunal ITAT West Bengal

Decided on : Jul-26-1999

..... , erred in deleting the disallowance of rs. 3,07,000 for the assessment year 1986-87 under section 30a(3) of the income-tax act." 3. so far as the assessment year 1985-86 is concerned, the assessment was originally completed by the assessing officer on 11-3 ..... salaries etc. paid to the wives of the directors; 2. that, on the facts and in the circumstances of the case, the learned commissioner of income-tax (appeals)-i, calcutta, erred in the directing the deputy commissioner to delete the following disallowances of the payment of gratuity for the assessment years 1986-87 ..... taken up by the department in all the appeals : "1. that, on the facts and in the circumstances of the case, the learned commissioner of income-tax (appeals)-i, calcutta, erred in deleting the following disallowances made by the assessing officer for assessment year 1985-86 : (i) rs. 35,000 out of ..... or the assessment order of the income-tax officer with a view to find out new sources of income and the power of enhancement under section 31(3) of the (1922) act is restricted to the sources of income which have been the subject-matter of consideration by the income-tax officer from the point of view ..... of the taxability. in this context 'consideration' does not mean 'incidental' or 'collateral' examination of any matter by the income-tax officer in the process of .....

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May 10 1999 (TRI)

Deputy Commissioner of Income Tax Vs. Stone India Ltd.

Court : Income Tax Appellate Tribunal ITAT West Bengal

Decided on : May-10-1999

..... employees credit co-operative society ltd. since the payments were made to unapproved institutions, the ao disallowed the same under s. 40a(9) of the act.cit(a) set aside the disallowance by following the decision of the tribunal in the case of m/s. a.p.e. bellis india ltd. in ..... rs. 2.13 lakh was paid on 11th april, 1992 i.e., within the due date for furnishing of return of income under s. 139(1) of the act.he, therefore, directed the ao to check the veracity of the claim of actual payment and thereupon deal with the issue in ..... departmental representative submitted that the term 'turnover' has come up for interpretation before courts time and again and it was consistently held that turnover includes sales-tax, excise duty, etc. he thus supports the order of the ao. on the other hand, learned counsel, appearing on behalf of the assessee, ..... directed the ao to recompute the depreciation after taking into account the additional liability arising from exchange rate fluctuation.11. aggrieved by the order of the cit(a), revenue is in appeal before us. learned departmental representative relied upon the order of the ao whereas, learned counsel, appearing on behalf of the ..... since the extra liability was not remitted during the year. he, therefore, disallowed the claim of depreciation proportionately.10. aggrieved, assessee contended before the cit(a) that the additional liability arising from the exchange rate fluctuation should be added to the cost of the machinery in order to arrive at the .....

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Dec 28 1999 (TRI)

Deputy Commissioner of Vs. Chloride Industries Ltd.

Court : Income Tax Appellate Tribunal ITAT West Bengal

Decided on : Dec-28-1999

..... in alkali's case (supra) that the fact that the said overdraft had a continued debit balance would make no difference to the presumption that the income tax has, in fact, been paid out of the profits and not out of the borrowings. further the jurisdictional high court observed in the case of indian ..... india, all the businesses taken together shall comprise one composite business and the provisions of clause (b) of sub-section (3) of section 80hhc of the act shall only apply and not partly clause (a) and partly clause (b). the clause (a) relates to the business consisting exclusively of the export of ..... query from the bench, he accepted that section 80hhc and section 80hh are neither interlinked nor interdependent. they are separate and distinct provision inserted in the act fulfilling different objects and purposes. in other words, he accepted that the conditions which have to be satisfied for obtaining the benefits are also different under ..... ). in the absence of any additional material/evidence we find no infirmity in the order of cit(a) who has observed that though the assessee has claimed deduction under sections 80hh and 80-1 of the act, nonetheless the haldia export factory does not constitute a separate business. in the light of our ..... in the order that the incentive wages was nothing but bonus and, therefore, its allowability was subject to the provisions of bonus act. so he has estimated the amount of disallowance at rs. 30,40,000 as against rs, 28,40,880 of the last year. the .....

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Dec 28 1999 (TRI)

Deputy Commissioner of Income Tax Vs. Chloride Industries Ltd.

Court : Income Tax Appellate Tribunal ITAT West Bengal

Decided on : Dec-28-1999

..... observed in the alkali case (supra) that the fact that the said overdraft had a continued debit balance would make no difference to the presumption that the income-tax has, in fact, been paid out of the profits and not out of the borrowings. further, the jurisdictional high court observed in the case of indian ..... india, all the businesses taken together shall comprise one composite business and the provisions of cl. (b) of sub-s. (3) of s. 80hhc of the act shall only apply and not partly clause (a) and partly cl. (b). the cl. (a) relates to the business consisting exclusively of the export of goods ..... query from the bench, he accepted that s. 80hhc and s. 80hh are neither interlinked nor interdependent. they are separate and distinct provision inserted in the act fulfilling different objects and purposes. in other words, he accepted that the conditions which have to be satisfied for obtaining the benefits are also different under these two ..... b). in the absence of any additional material/evidence we find no infirmity in the order of cit(a) who has observed that though the assessee has claimed deduction under ss. 80hh and 80-i of the act, nonetheless the haldia export factory does not constitute a separate business. in the light of our ..... in the order that the incentive wages was nothing but bonus and, therefore, its allowability was subject to the provisions of bonus act. so he has estimated the amount of disallowance at rs. 30,40,000 as against rs. 28,40,880 of the last year. the .....

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Jun 02 1999 (TRI)

Deputy Commissioner of Income Tax Vs. Central Concrete and Allied

Court : Income Tax Appellate Tribunal ITAT West Bengal

Decided on : Jun-02-1999

..... ) has extracted the detailed discussion made by kanga and palkhivala in their famous treatise on this subject. there also, only the power of the cit(a) to tax the income, which the ao had not, expressly or by clear implication, considered, was mentioned. the supreme court clearly held in the case of rai bahadur hardutroy motilal chamaria (supra) that the ..... return made by the assessee or the assessment order of the ito with a view to find out new sources of income and the power of enhancement under s. 31(3) of the (1922) act is restricted to the sources of income which have been the subject-matter of consideration by the ito from the point of view of the taxability. in this ..... the basis of the above arguments and taking in to consideration the reliance placed on different judgments, the cit(a) came to the conclusion that the ao had acted in excess of his jurisdiction, while passing the fresh assessment order, in seeking to tax by way of disallowance the expenditure either in part or in full incurred under the abovementioned three heads. on ..... -87 and 1987-88 respectively; that, on the facts and in the circumstances of the case, the learned cit(a)-i, calcutta, erred in deleting the disallowance of rs. 3,07,000 for the asst. yr. 1986-87 under s. 40a(3) of the it act." so far as the asst. yr. 1985-86 is concerned, the assessment was originally completed by the .....

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Jul 13 1999 (TRI)

T. S. Venkatesan Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT West Bengal

Decided on : Jul-13-1999

..... .roma bose's case (supra) the hon'ble calcutta high court has held that under s. 14 of the it act, 1961, income and not heads of income has been made chargeable to income-tax. if an income cannot be charged to income-tax under any of the heads mentioned in cls. a to e of s. 14, the same shall be chargeable ..... to income-tax under the head "income from other sources" mentioned in cl. f of the said s. 14, under the express provision of s. 56(1) of the act. in g. r. karthikeyan's case (supra) the hon'ble supreme court has held ..... & co. he has referred to s. 17(3)(ii) and contended that any amount received from employer is taxable income. he has, in this regard, referred to p.1422 of sampat iyenger commentary of law of income-tax (9th edition) vol. 1 (top para) wherein it has been observed that by virtue of this provision of payments ..... has also been held that "merely because an assessee carries on a vocation there is no presumption in law that any amount received by him is income subject to tax. the test in such cases is to find out if the sum is paid to the assessee in respect of his services and accrues to him ..... supra) the hon'ble bombay high court has held that "it act imposes a liability to tax upon income. it does not provide that whatever is received by a person can be regarded as his income liable to tax. in all cases in which a receipt is sought to be taxed as income, the burden lies on the department to prove that it .....

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Jul 14 1999 (TRI)

Gkw Ltd. Vs. Joint Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT West Bengal

Decided on : Jul-14-1999

..... from time to time.such adjustments are likened with apparent mistake as envisaged under s. 154 of the act because variation in the income or loss as declared in the return would attract additional tax. the board in its circular has stated it as 'negligence tax' to be levied on the assessees for not filing the returns in accordance with law. this presupposes that ..... paid by the assessee.9. with regard to the import entitlement, placing reliance in the case of godhra electricity co. ltd. vs. cit (1997) 225 itr 746 (sc) it was submitted that notional income can never be brought to tax. the entries were passed in the books only to improve the financial picture of the assessee-company.10. the learned senior departmental representative ..... . 115j was brought in, the object was to introduce the provision whereby every company will have to pay minimum tax on the profits declared by it in its own accounts and these profits could only be those which are assessable as income under the act and not the profit on realization of capital asset. subsequently, in december, 1995 because of the differences between ..... is taken as total income." 2. the assessee appealed before the cit(a). with regard to the adjustments in respect of the profits on sale of fixed assets, it was submitted that the profits were capital receipts and such profits could not be in accordance with the provisions of parts ii & iii of sch. vi to the companies act, placing reliance on the .....

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Sep 03 1999 (TRI)

A.K. JaIn and Bros. (Huf) Vs. Ito (1992) 198 Itr 42 (At)

Court : Income Tax Appellate Tribunal ITAT West Bengal

Decided on : Sep-03-1999

1. the only issue in this appeal filed by the assessee relates to the question of allowing interest under s. 244a of the it act, 1961, in respect of refund arising to the assessee.2. the cit(a) states in his appellate order that the assessee-company filed its return of income for the asst. yr. 1994-95 on 30th august, 1995, declaring a total ..... income of rs. 75,92,260. the assessee claimed credit for tax deducted at source of rs. 14,97,362 and self-assessment tax of rs. 2,50,00,000. the cit(a) states thereafter that the return was processed under s. 143(1)(a) of the act and the income disclosed by the assessee was also accepted by ..... the ao. the refund was determined by the ao at rs. 2,21,03,624 after allowing credits of the abovementioned two items. however, no interest under s. 244a was allowed by the ao on the amount of refund.3. in the first appeal also, the cit(a) upheld ..... amount which the assessee was required to pay in addition to the tax deducted at source to meet up the tax liability arising out of the return should alone be considered as self-assessment tax. the balance amount of tax having no immediate connection with the return of income was enjoyed by the government for a number of months. it is, therefore, fair and equitable .....

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