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Judgment Search Results Home > Cases Phrase: income tax act Court: kolkata Page 100 of about 17,162 results (0.144 seconds)

Jul 14 1986 (HC)

Union Carbide India Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Reported in : [1987]165ITR558(Cal)

..... worked for four months only during the assessment year 1978-79, the tribunal was justified in holding that the deduction under section 80j of the income-tax act should be allowed for the entire period instead of on a pro rata basis ?' 3. the tribunal has sent up a consolidated statement ..... its industrial undertaking, agricultural pesticide division, should be included in the computation of capital employed for the purpose of relief under section 80j of the income-tax act ? (7) whether, on the facts and in the circumstances of the case and having regard to the fact that the agricultural pesticide division ..... expenses on account of export agency inspection fee are covered by section 35b of the income-tax act and in that view, such expenses are entitled to weighted deduction ? (6) whether, on the facts and in the circumstances of the case ..... tribunal was correct in holding that the deep sea fishing division of the assessee was an 'industrial undertaking' within the meaning of sections 80j of the income-tax act, 1961 ? (5) whether, on the facts and in the circumstances of the case, the tribunal was justified in law in holding that the ..... the loan in foreign currency was utilised for acquiring current assets ?' 2. on another application of the revenue also under section 256(1) of the income-tax act, 1961, the tribunal has referred the following questions, as questions of law arising out of its order, for the opinion of this court :'(1) .....

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Mar 03 1989 (HC)

Dr. N.K. Brahmachari Vs. Commissioner of Income-tax

Court : Kolkata

Reported in : [1990]186ITR507(Cal)

..... ltd. amounting to rs. 41,534 for the assessment year 1971-72 and rs. 43,240 for the assessment year 1972-73 was the assessee's income liable to tax under the income-tax act, 1961 ?'2. in this case, the assessment years involved are 1971-72 and 1972-73. the assessee had made various advances to brahmachari research institute ( ..... . a. gajapathy naidu : [1964]53itr114(sc) . there, the scope and effect of section 4(1)(b)(i) of the indian income-tax act, 1922, came up for consideration before the supreme court. but that was a case where the assessee had kept his accounts on mereantile system ..... suhas chandra sen, j. 1. the tribunal has referred the following question of law under section 256(1) of the income-tax act, 1961 :'whether, on the facts and in the circumstances of the case, the appellate tribunal was justified in holding that the accrued interest on ..... the interest was received, he disclosed this in his return. as no interest was received in these years, he did not show this as income in his returns. the income-tax officer assessed the interest due in the hands of the assessee on accrual basis. there is no finding that the accounts were maintained by the ..... p.) ltd. at interest payable at the rate of 6 per cent. per annum. no interest on these advances were shown by the assessee in his income-tax .....

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Jun 13 1991 (HC)

Commissioner of Income-tax Vs. Oil India Ltd.

Court : Kolkata

Reported in : [1992]198ITR701(Cal)

..... in india were to be treated as business expenditure. the assessee was entitled to deduction under sections 37(3) and 37(2b) of the income-tax act.10. it may be noted that the tribunal has found that the assessee was doing exploration and prospecting and drilling for crude oil in india. ..... of rs. 12,294 and rs. 20,608 out of travelling and entertainment expenditure, respectively, under sections 37(3) and 37(2b) of the income-tax act.9. it has been submitted that clause 12 of the second supplemental agreement indicated that the expenditure incurred by the assessee for the exploration or on ..... the circumstances of the case, the tribunal was justified in holding that the assessee was entitled to relief under section 80-i of the income-tax act, 1961, on the income earned by the assessee from transportation of crude oil belonging to the oil and natural gas commission ?(7) whether the tribunal was justified ..... the circumstances of the rasp, the tribunal was justified in holding that the assessee was entitled to relief under section 80-i of the income-tax act, 1961, on the income earned by the assessee from transportation of crude oil belonging to the oil and natural gas commission ?(6) whether, on the facts and ..... holding that 50 per cent. of rs. 1,84,127 should be excluded for the purpose of computing the disallowance under section 40a(5) of the income-tax act, 1961 ?(3) whether, on the facts and in the circumstances of the case, the tribunal was justified in law in deleting the disallowance of' .....

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Feb 17 1969 (HC)

Smt. Santimoyee Bose and ors. Vs. Commissioner of Income-tax

Court : Kolkata

Reported in : [1969]74ITR133(Cal)

..... apply accordingly. '6. in this case, it appears to us that the tribunal accepted the position that the income-tax authority was correct in taxing the income jointly under the provisions of section 41 of the indian income-tax act, 1922. the proviso to section 41 of the indian income-tax act, 1922, so far as is material for the present purpose provided, inter alia, as follows : ' provided that where ..... the amount receivable by each of the decreeholders or otherwise. 3. the tribunal has referred to this court the following question of law under section 66(1) of the indian income-tax act, 1922 : ' whether, on the facts and in the circumstances of this case, the tribunal was right in holding that the assessees were jointly entitled to the maintenance of rs. ..... section 66(1) of the indian income-tax act, 1922, to the tribunal. the questions were : (1) whether, in the facts and circumstances of the case, the shares of the decreeholders in the maintenance awarded in the decree ..... the said sum jointly as an association of persons. the tribunal therefore confirmed the orders of assessments made. the assessee made an application under section 66(1) of the indian income-tax act, 1922, for reference of certain questions. in view of the contentions made before us, it is necessary to set out the questions suggested by the assessees in their application under .....

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Mar 02 1970 (HC)

Commissioner of Income-tax Vs. Panna Devi Saraogi

Court : Kolkata

Reported in : [1970]78ITR728(Cal)

..... section 33b in the instant case and in the facts and circumstances of such case. the 'basic ground' of the commissioner's order under section 33b of the income-tax act was his finding that the income-tax officer's assessments were erroneous because they were 'prejudicial to the interest of the revenue' within the meaning of that expression used in section 33b of the ..... . files are kept is not material in determining the question where the allocating authority is the commissioner of income-tax. a brief reference to section 5 of the income-tax act, 1922, is relevant. particularly relevant to section 5(5) of: the income-tax act, 1922, which, inter alia, reads follows :'income-tax officers shall perform their functions in respect of such persons or classes of persons or of such ..... on this point, the matter in our view is beyond dispute and controversy. it is found as a fact by the commissioner of income-tax, who is the allocating authority under section 5(5) of the income-tax act, 1922, that the income-tax officer, d-ward, howrah, had no jurisdiction over the assessee because 'the name of the assessee is 'panna devi saraogi' and as the ..... was right in setting aside the order of the commissioner under section 33b?' 2. these questions arise out of nine applications under section 66(1) of the income-tax act, 1922, of the commissioner of income-tax requiring the tribunal to refer as many as nine common questions of law said to arise on the tribunal's consolidated order in i.t.a. nos. 11728 .....

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Feb 04 1971 (HC)

Panama Private Ltd. Vs. Income-tax Officer, c Ward and ors.

Court : Kolkata

Reported in : 75CWN431,[1971]82ITR205(Cal)

..... a.k. sinha, j.1. this rule was obtained by the petitioner for quashing several notices under section 148 read with section 147(b) of the income-tax act, 1961 (referred to herein as 'the act') proposing to reopen the assessment for the assessment years 1964-65 to 1968-69.2. the petitioner is an existing private limited company under the provisions of the ..... not maintainable.6. since the decision of the supreme court in calcutta discount co. ltd. v. income-tax officer, : [1961]41itr191(sc) , which was a case under section 34 of the indian income-tax act, 1922, the law is fairly settled that so far as the question whether the income-tax officer had reasons to believe that underassessment had occurred on account of non-disclosure of fact ..... information as to relevant judicial decisions.'17. and, accordingly, rejected on the facts of that case the argument that the income-tax officer was not justified in treating the privy council decision in question as information within section 34(1)(b) of the income-tax act, 1922. this decision of the supreme court, as pointed out by the learned standing counsel, was followed in a ..... shall also be deemed to be cases where income chargeable to tax has escaped assessment, namely :-- (a) where income chargeable to tax has been under-assessed ; or(b) where such income has been assessed at too low a rate ; or(c) where such income has been made the subject of excessive relief under this act or under the indian income-tax act, 1922 (11 of 1922) ; or(d) where .....

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Aug 08 1975 (HC)

National Hotel and Dilkusha CabIn Vs. Income-tax Officer, a Ward and a ...

Court : Kolkata

Reported in : [1977]107ITR559(Cal)

..... 1961-62, and before any assessment had been made under section 139(4) of the income-tax act, 1961. after making an assessment, the income-tax officer levied penalty on the assessee under section 271(1)(a) of the income-tax act, 1961, for not having filed the return within time. the appellate assistant commissioner, on appeal, confirmed the order of penalty ..... were that the assessce-firm did not file its return for the assessment year 1961-62, within the time given by the notice under section 22(1) of the indian income-tax act, 1922, and had not asked for extension of time to file the return, but filed the return before the expiry of four years from the end of the assessment year ..... of time granted and where the assessee had not filed any return before the making of the assessment, interest as contemplated under sub-section (1) of section 139 of the income-tax act, 1961, cannot be charged. the position, however, is different since 1st of april, 1972. i am fortified in this view by the observations of the division bench of the andhra ..... possession he found that no return had been filed for the assessment years 1967-68 and 1968-69. the receiver had received a notice under section 139(2) of the income-tax act, 1961. as he was unaware of the true position he applied for time to enable him to deal with the notice. the receiver, thereafter, found that no return had been .....

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Apr 24 1986 (HC)

Commissioner of Income-tax Vs. Bengal Jute Mills Co. Ltd. (No. 1)

Court : Kolkata

Reported in : [1987]165ITR646(Cal)

..... -71 and 1971-72? 3. whether the tribunal was justified in holding that an appeal lies to the appellate assistant commissioner against levy of interest under section 139 of the income-tax act, 1961, if the assessee files appeal against the same assessment order ?' questions for the assessment year 1970-71: '1. whether, on the facts and in the circumstances of the case ..... that where it was not practicable to compute the written down value of discarded machinery or plant, no allowance should be given under section 10(2)(vii) of the indian income-tax act, 1922, nor should any gain contemplated under the said circular be calculated or added but the sale proceeds of the discarded machinery or plant should be deducted from the aggregate ..... in the circumstances of the case, the tribunal was right in holding that the sum of rs. 1,34,246 was not includible in the total income of the assessee under section 41(2) of the income-tax act, 1961?' questions to be referred for the assessment year 1971-72: '1. whether, on the facts and in the circumstances of the case, the tribunal ..... an order was passed levying penal interest under sections 139, 215, 216 and 217 of the income-tax act, 1961 (' the act'), as might be attracted.4. in the assessment year 1970-71, the assessee had sold old machinery for a consideration of rs. 1,34,246. the income-tax officer recorded that the cost or the written down value of the said old machinery could .....

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Jul 17 1989 (HC)

Commissioner of Income-tax Vs. Shree Krishna Gyanoday Sugar Ltd.

Court : Kolkata

Reported in : [1990]186ITR541(Cal)

..... income-tax act by way of tax, penalty or interest. the assessee was challenging the validity of the sugar control order.20. in our ..... way of deduction any expenditure incurred by him in the previous year in respect of any proceedings before any income-tax authority or the appellate tribunal or any court relating to the determination of any liability under the income-tax act, by way of tax, penalty or interest.' the aforesaid writ petition was not concerned with the determination of any liability under the ..... and as such this expenditure was allowable as proper business expenditure under section 37 of the income-tax act, 1961. the aforesaid order of the commissioner of income-tax (appeals) was challenged by the revenue before the tribunal and reliance was placed on the reasons given by the income-tax officer for making the disallowance. on behalf of the assessee, the order of the ..... control order should be allowed as business expenditure ?' 2. the facts relating to the first question are that the income-tax officer made a disallowance of rs. 22,664 in terms of sub-section (5) of section 40a of the income-tax act, 1961, on account of certain perquisites, including concessional residential accommodation. the working of the disallowance of rs. 22, .....

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Feb 19 1971 (HC)

Tarulata Shyam and ors. Vs. Commissioner of Income-tax

Court : Kolkata

Reported in : [1971]82ITR485(Cal)

..... duiaguri tea co. (p.) ltd. admittedly, the company is one in which the public are not substantially interested within the meaning of section 23a of the indian income-tax act, 1922 (hereinafter referred to as ' the act'). the reference concerns the assessment year 1957-58, the corresponding previous year being the calender year 1956. at the commencement of that year there was a credit ..... the case, the sum of rs. 2,72,703 net (rs. 3,19,245 gross) is to be treated as dividend income in the hands of the assessee within the meaning of section 2(6a)(e) of the indian income-tax act, 1922?'10. before dealing with the contentions raised in this reference it would be convenient to set out the relevant provisions of ..... further observed at page 204 that in considering the questionas to whether a particular item in the hands of a citizen could be regarded as his income or not, it would be inappropriate to apply the tests traditionally prescribed by the income-tax act as such. this seems to answer mr. choudhury's contention that a loan cannot be treated as an item of ..... the act as applicable to the assessment year concerned in this reference. section 3 charges to tax the total income of an individual, a hindu undivided family, a firm or .....

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