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Judgment Search Results Home > Cases Phrase: income tax act Court: kolkata Page 100 of about 17,162 results (0.065 seconds)

Dec 04 1975 (HC)

Commissioner of Income-tax Vs. Luxmi Ideal Investment and Finance Corp ...

Court : Kolkata

Reported in : [1978]113ITR238(Cal)

..... not justified on merits ?' 2. the assessee is a private limited company. in course of proceedings under section 23a of the indian income-tax act, 1922, for the assessment years 1955-56 to 1961-62, it was found by the income-tax officer that, except for the assessment years 1955-56 and 1958-59, the dividends declaredby the assessee were more than 60 per cent ..... that he shall make as many orders as he likes. it is elementary that the income-tax officer is bound to drop the proceedings where no super-tax is payable by the assessee and in this case it has been done by the income-tax officer.7. further, the indian income-tax act, 1922, expressly provides for initiation of subsequent proceeding in certain matters, to wit section 34 ..... following questions arc involved in this reference under section 66(1) of the indian income-tax act, 1922 :'1. whether, on the facts and in the circumstances of the case, the tribunal was right in holding that the income-tax officer had no jurisdiction to invoke section 23a of the indian income-tax act, 1922, for the second time? 2. if the answer to question no. (1) be ..... of the act. there is no such provision in section 23a of the act and, therefore, if an order passed by the income-tax officer under this section is prejudicial to the interests of .....

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Dec 18 1984 (HC)

Commissioner of Income-tax Vs. Sen Mukherjee and Co.

Court : Kolkata

Reported in : [1986]159ITR793(Cal)

..... case of the department that the creditors were not found in the given addresses or they did not respond to the summons issued to them under section 131 of the income-tax act, 1961. the tribunal after taking into consideration the entire facts and circumstances came to the conclusion that the assessee had discharged the onus and the department had not placed any ..... facts and in the circumstances, the tribunal was right in its conclusion that the onus that lay on the assessee under the explanation to section 271(1)(c) of the income-tax act, 1961, was discharged. the said explanation presumes gross or wilful neglect on the part of the assessee in the circumstances stated therein. the presumption is a rebuttable presumption. the assessee ..... on it under the explanation to section 271(1)(c) of the income-tax act, 1961 2. whether, on the facts and in the circumstances of the case, the tribunal had any evidence to come to the finding that the assessee was not guilty of ..... ajtt k. sengupta, j. 1. for the assessment year 1963-64, the following questions of law have been referred by the tribunal under section 256(2) of the income-tax act, 1961: '1. whether, on the facts and in the circumstances of the case, the tribunal relied on irrelevant materials to hold that the assessee had discharged the onus that lay .....

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Aug 13 1985 (HC)

Commissioner of Income-tax Vs. United India Fire and General Insurance ...

Court : Kolkata

Reported in : [1986]161ITR295(Cal)

..... only to the profits and gains as determined under section 10 of the indian income-tax act and did not refer to profits and gains arrived at or determined in a manner other than that provided by the said section. it was also ..... particular manner. the question arose whether the cess had been levied on the assessee on profits within the meaning of section 10(4) of the indian income-tax act, 1922.17. it was held by the supreme court that in the context, the words 'profits and gains of any business' could have reference ..... the assessee had failed to recover from the non-resident could not be regarded as a bad debt under section 10(2) of the indian income-tax act, 1922, inasmuch as the assessee was bound to deduct the said amount from the amount payable. it was further held that the payment was ..... [1985]155itr120(sc) . we direct the tribunal to consider the decision of the supreme court, if any, while disposing of the case under section 260 of the income-tax act, 1961.4. the facts on record relevant to question no. 1 as found or admitted are, inter alia, that the united india fire & general insurance co. ..... : [1958]33itr245(sc) , for the proposition laid down by the supreme court that persons bound under the indian income-tax act, 1922, to make deduction of income-tax at the time of making payment of any income, profits or gains, are not concerned with the ultimate result of the assessment of the person to whom the payment .....

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Dec 14 1990 (HC)

Commissioner of Income-tax Vs. Indian Explosives Ltd.

Court : Kolkata

Reported in : [1991]192ITR144(Cal)

..... 2. whether, on the facts and in the circumstances of the case and on a correct interpretation of section 80j of the income-tax act, 1961, and rule 19a of the income-tax rules, 1962, the tribunal was correct in holding that, in computing the capital employed in the two new industrial undertakings for the ..... a correct interpretation of section 80j of the income-tax act, 1961, and rule 19a of the income-tax rules, 1962, the tribunal was right in holding that the exclusion of borrowed capital from the computation of capital employed in two new ..... or in any other previous year. this amendment has come into force with effect from april 1, 1962, i.e., from the commencement of the income-tax act, 1961, and is, accordingly, applicable in relation to the assessment year 1962-63 and subsequent years. 12. the tribunal has found that the entire ..... holding that medical expenses reimbursed to the employees fell to be excluded from the computation of disallowance under section 40(a)(v)/40(c) of the income-tax act, 1961 ? 5. whether, on the facts and in the circumstances of the case, the tribunal was right in restoring the disallowance of rs. ..... the instance of both the assessee and the commissioner, as many as seven questions have been referred to this court under section 256(1) of the income-tax act, 1961, for the assessment years 1971-72 and 1972-73 : ' 1. whether, on the facts and in the circumstances of the case and on .....

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Mar 24 1993 (HC)

Commissioner of Income-tax Vs. Hind Wire Industries Ltd.

Court : Kolkata

Reported in : [1993]202ITR274(Cal)

..... repetition that, in this case, depreciation allowance was one of the items considered in the set of rectification orders passed on july 12, 1982. under the income-tax act, 1961, allowance towards depreciation is a single item of allowance, even though the quantum of the allowance is calculated on different assets at different rates. it ..... in holding that the mistake which the assessee seeks to get rectified has occurred in the set of rectification orders passed under section 154 of the income-tax act, 1961, on july 12, 1982, and that date should be taken into account for purposes of computing the period of limitation ?'2. as ..... ajit k. sengupta, j. 1. in this reference under section 256(1) of the income-tax act, 1961, the tribunal has referred the following question at the instance of the revenue relevant to the assessment years 1976- ..... pointing out that the high court was concerned with the provisions of section 35 of the old act, materially different from the provisions of section 154 of the new act. section 35 of the repealed act empowered the income-tax officer to rectify only an assessment order and not any other order. therefore, the gujarat high ..... should, therefore, follow that, when in the set of rectification orders passed by the income-tax officer on july 12, 1982, with a view to recomputing the depreciation allowance admissible to the assessee, the mistake of allowing depreciation on factory buildings at .....

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May 31 1968 (HC)

Commissioner of Income-tax Vs. Bengal Assam Investors Ltd.

Court : Kolkata

Reported in : [1969]72ITR319(Cal)

..... incurred and borne by the assessee in making additions or alterations to its assets within the meaning of section 12b(2)(ii) of the indian income-tax act, 1922. it is well-settled that any expenditures incurred for acquisition or improvement of a capital asset or for enhancement of its value is ..... 10. since the department had already taken the view that the expenses concerned were not admissible allowances under any other provision of the indian income-tax act, it is idle for the department to contend before this court for the first time that these are allowable deductions either under section 10(2 ..... reference. but before we do so, it would be useful to set out the relevant provisions of section 12b(2)(ii) of the indian income-tax act, 1922. the provisions are as follows :'the amount of a capital gain shall be computed after making the following deductions from the full value ..... incurred and borne by the assessee-company 'in making any additions or alterations thereto' within the meaning of section 12b(2)(ii) of the indian income-tax act, 1922.'4. the following question of law has been referred to this court for its opinion :' whether, on the facts and in the circumstances ..... in making any additions or alterations ' to the capital assets, namely, the shares, within the meaning of section 12b(2)(ii) of the indian income-tax act, 1922. the tribunal considered the real object of the litigation sought out by the assessee and concluded that the legal expenses were incurred by the assessee .....

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Sep 26 1969 (HC)

Calcutta Chromotype Pvt. Ltd. Vs. Income-tax Officer and ors.

Court : Kolkata

Reported in : [1971]80ITR627(Cal)

..... the provisions of the said section 6 are similar to those of section 139 of the income-tax act, 1961, and section 22 of the income-tax act, 1922. under section 139(1) of the 1961 act every person whose total income exceeds the taxable limit has to furnish a return verified in the prescribed manner on or ..... theassessment was actually completed, then unless there were specific words in the section imposing such penalty as there are in the corresponding sectionsof the income-tax act, no penalty could be imposed for failure to file a return on the ground that the return was not filed within the period prescribed by ..... therein, he may furnish a revised return at any time before the assessment is made.'the provision for penalty in the income-tax act which is contained in section 271 of the act, 1961, expressly provides for penalty in a case wherethe return is filed beyond the time allowed under the provisions of ..... section 6. in my opinion, under the relevant provisions of the super profits tax act, 1963, the income-tax officer is not entitled to impose a penalty on the petitioner on the ground of failure to file a return within the time ..... the basis of the return filed. by a notice dated the 10th november, 1967, purported to be issued under section 10 of the act, the respondent-income-tax officer required the principal officer of the petitioner-company to show cause why an order imposing a penalty should not be made under section .....

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Jun 03 1970 (HC)

Omprakash Agarwalla Vs. Agricultural Income-tax Officer and ors.

Court : Kolkata

Reported in : [1972]84ITR340(Cal)

..... copy of the assessment order under the indian income-tax act.6. as under the constitution, parliament is not competent to levy tax on agricultural income, both the indian income-tax act and the state agricultural income-tax act provide for exclusion of such income from assessment under the central act and for its assessment under the relevant state act. the definition of agricultural income under the indian income-tax act is the same as that under this ..... were income from business under the central income-tax act and rules. forty per cent. of the income so computed was deemed to be income derived from business and assessable to non-agricultural income-tax. the following observations are instructive :' there is no provision in the kerala act authorising the agricultural income-tax officer to disregard the computation of the tea income made by the income-tax authorities acting under the central income-tax acts. the agricultural income-tax officer ..... in making an assessment of agricultural income is bound to accept the computation of the tea income already made by the central income-tax authorities and to assess only sixty per cent. of the .....

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Feb 07 1972 (HC)

Narandas Paramanand Das Vs. Income-tax Officer and ors.

Court : Kolkata

Reported in : [1975]98ITR453(Cal)

..... years 1953-54 and 1954-55, and the question raised in that case is whether the loss had to be determined under section 24(2) of the indian income-tax act, 1922, though the returns were not filed within the time specified in the general notice under section 22(1) and the time was not extended by the ..... cause failed to furnish the return which the petitioner is required to furnish by a notice given under section 22(1)/22(2)/34 of the indian income-tax act, 1922, or which the petitioner is required to furnish under section 139(1) or by a notice given under section 139(2)/148 of the ..... income-tax act, 1961, or have without reasonable cause failed to furnish it within the time allowed and in the manner required by the said section 139(1) or by ..... has been stated that under section 18a if an assessee fails to submit the return, by section 18a(3) of the indian income-tax act, 1922, the interest under section 18a(8) is chargeable. under sub-section (8) of section 18a the interest, for which liability is created, has to be calculated ..... not allowed. the petitioner appealed against the order of refusal to grant registration under the provisions of the income-tax act. the said appeal, it is alleged, is still pending. for the assessment year 1963-64, respondent no. 1 assessed the total income of the petitioner at a sum of rs. 6,56,260 during the year as a non-registered .....

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Mar 22 1974 (HC)

Mahadeo Lal Tulsyan Vs. Income-tax Officer and ors.

Court : Kolkata

Reported in : [1977]110ITR637(Cal)

..... april 1970, the petitioner received a notice dated march 30, 1970, issued by the respondent no. 1 under section 148 of the income-tax act, 1961, to reopen the assessment for the year 1961-62, on the reasonable belief that the income of the assessee-firm has escaped assessment. it alleged that the notice under section 148 was served by affixation in the office ..... .6. considering the facts and circumstances of this case, in my view the condition precedent for exercising jurisdiction under section 148 of the income-tax act, 1961, has not been fulfilled in the instant case and, accordingly, the said impugned notice which is annexure ' c ' to the petition dated march 30, 1970, must be set aside ..... obtained the present rule.3. mr. mullick, appearing on behalf of the petitioner contended that the income-tax officer had no jurisdiction to issue a notice under section 148 of the income-tax act, 1961, as there was no reasonable belief nor any material on record that the income had escaped assessment.4. in the affidavit-in-opposition filed on behalf of the respondents nos. 1 ..... amiya kumar mookerjee, j.1. this rule is directed against a notice under section 148 of the income-tax act, 1961, dated march 30, 1970, for reassessment in respect of assessment year 1961-62, issued by the respondent no. 1.2. the petitioner is a partner of the firm, m/ .....

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