Court : Kolkata
Reported in : (2009)227CTR(Cal)408,314ITR123(Cal)
..... : in this writ petition the petitioner has challenged the notice issued under section 148 of the income-tax act, 1961 dated may 7, 2007, and the notices under sections 143(2) and 142(1) dated may 23, 2008, for the assessment year 2005-06 issued by the income-tax officer, ward 46(2), kolkata, respondent no. 1 on several grounds including the point of jurisdiction ..... the action of respondent no. 1 seeking to reopen the case under section 148 and the assessment order dated december 31, 2008, passed under sections 143(3)/147 of the act. according to the petitioner the order under sections 143(3)/147 could not have been passed by respondent no. 1 without disposing of the application dated july 15, 2008, objecting ..... to the notice under section 148 of the act.3. the matter was taken up for hearing on january 29, 2009, when respondent no. 1 was directed to produce the records. today records have been produced. perused the letter .....Tag this Judgment!
Court : Kolkata
Reported in : (1986)50CTR(Cal)355,159ITR151(Cal)
..... j.1. for the assessment year 1968-69, the following question of law was referred to this court under section 256(1) of the income-tax act, 1961 :' whether, on the facts and in the circumstances of the case, the tribunal was right in holding that drains, culverts and ..... roads were not buildings or plant and as such no depreciation was admissible thereon 'in the assessment for the assessment year 1968-69, the income-tax officer, following his assessment order for earlier years, rejected the claim of the assessee-company for the grant of depreciation allowance in respect of ..... , drains, culverts, swimming pools, parks, fencing, etc. the appellate assistant commissioner, following his order in respect of earlier years, directed the income-tax officer to go into the details and allow depreciation wherever it may be due on the lines and hi the light of the principles enunciated by ..... company whereby the order of the appellate assistant commissioner had been reversed and that of the income-tax officer has been restored. following its earlier order, the appellate tribunal similarly restored the order of the income-tax officer on this point for the assessment year 1968-69.2. for the assessment years ..... business of the assessee and whether depreciation as claimed by the assessee is admissible or not. the said decision is reported in oil india ltd. v. cit : 114itr323(cal) .3. for the assessment year 1969-70, at the instance of the assessee, the following question was referred to this court .....Tag this Judgment!
Court : Kolkata
Reported in : (2009)226CTR(Cal)686,314ITR288(Cal)
..... of this communication.3. in order to decide the issue it is necessary to refer to the relevant provision in section 220(6) of the income-tax act, 1961, which is as under:220.(6) where an assessee has presented an appeal under section 246 or section 246a the assessing officer may, ..... the assessment year 2006-07 passed on september 18, 2008, the petitioner had filed an appeal before the commissioner of income-tax (appeals), west bengal, respondent no. 2. it appears that on the day on which assessment order was passed, respondent no. 3 had issued ..... s. new rupayan jewellers challenging the order dated november 10, 2008, passed by the income-tax officer, ward-28(3), kolkata, respondent no. 3 rejecting the application for stay of realisation of the sum assessed as tax due.2. the facts in brief are that being aggrieved with the assessment order for ..... appeal, even though the time for payment has expired, as long as such appeal remains undisposed of.4. therefore, section 220(6) of the act, postulates that where an appeal under section 246 or under section 246a is pending, the assessing officer has the discretion, subject to such conditions ..... might have expired. consequently, a circular dated march 6, 1989, has been issued by the revenue. therefore, the act confers discretion on the assessing officer to grant stay of realisation of taxes after protecting the interest of the revenue. thus, once the assessing officer chooses to exercise his discretion, in my .....Tag this Judgment!
Court : Kolkata
Reported in : 167ITR844(Cal)
..... member and the matter was ultimately decided in favour of the revenue.15. on an application of the assessee under section 256(1) of the income-tax act, 1961, the following questions have been referred as questions of law arising out of its order for the opinion of this court;'1. whether, ..... to its london agent on account of remuneration. he held that the assessee had discharged its initial onus under section 37(1) of the income-tax act, 1961, and it was for the revenue to adduce evidence to show that in the instant assessment year there were facts which should justify ..... hold that the disallowance should be made in the subsequent year also. he held that the principles of res judicata were not applicable to income-tax proceedings. he distinguished the facts in the earlier assessment year from the facts in the assessment year in question and held that in the earlier ..... partly allowed.9. from the order of the appellate assistant commissioner appeals were* ' filed both by the revenue as also the assessee to the income-tax appellate tribunal. it was contended before the tribunal on behalf of the revenue that from the facts found in the assessment of the assessee in the ..... claimed.8. the appellate assistant commissioner, however, held following a decision of this court that the expenditure incurred by the assessee to contest the income-tax proceedings of hungerford investment trust ltd. was not wholly or exclusively for the purpose of the business of the assessee and, therefore, the amount .....Tag this Judgment!
Court : Kolkata
Reported in : 135ITR704(Cal)
..... distributed is not prohibited. a taxpayer may resort to a device to divert the income before it accrues or arises to him. effectiveness of the device depends not upon considerations of morality, but on the operation of the income-tax act. legislative injunction in taxing statutes may not, except on peril of penalty, be violated, but it may lawfully be circumvented.'16. lastly, mr. roy ..... relies on the decision in the case of henriksen (h.m.inspector of taxes) v. grafton hotel ltd.  24 t.c. 453, and specially aportion ..... am concerned with in this case is whether this company, as aseparate entity, is conducting its own trade in respect of which it isassessed for its own income-tax liability. in this transaction the companywas not acting in the course of its own trade, which is the subject of taxation, but out of that course. these transactions, when seen in theircontext of the ..... in regard to the second house constituted a liferent, and that the additional assessments made to include the outgoings paid by the trustees, had increased by the appropriate addition for income-tax, were properly made. he draws our attention to the passage of a judgment of lord sands at page 478, which reads as follows :'the appellants contended further that the lady .....Tag this Judgment!
Court : Kolkata
Reported in : 111ITR489(Cal)
..... deb, j.1. in this reference under section 66(1) of the indian income-tax act, 1922, the assessment year involved is 1961-62. the previous year ended on july 31, 1960. the assessee is a company. the facts stated ..... years and as it was finally determined by the award in the accounting year, it was an allowable deduction under the act. this ease was followed by mr. justice a.n. sen in the case of commissioner of income-tax v. hindus-than housing & land development trust ltd. : 108itr380(cal) . in that case an additional ..... and if a legal liability has been definitely incurred in the accounting year; it must be allowed in that year. (vide calcutta co. ltd. v. commissioner of income-tax : 37itr1(sc) of the report). but if the liability is contingent and does not raise any definite obligationin the accounting year, it cannot be the ..... 4. mr. sengupta has cited those cases which were discussed by mr. justice a.n. sen in his judgment dated january 9, 1973, in income-tax reference no. 5 of 1967, intituted commissioner of income-tax v. hindusthan housing and land development, trust ltd. : 108itr380(cal) . apart from those cases, mr. sengupta has also cited the ..... ending on july 31, 1960.2. rs. 1,08,370 claimed by the company as an allowable deduction in the accounting year was rejected by the income-tax officer for the reasons recorded in the assessment order. the appeal filed by the company was allowed by the appellate assistant commissioner. the tribunal has dismissed the .....Tag this Judgment!
Court : Kolkata
Reported in : (1986)50CTR(Cal)230,159ITR770(Cal)
..... ajit k. sengupta, j. 1. this is a reference under section 256(1) of the income-tax act, 1961, for the assessment-year 1969-70. for the said assessment year, the assessee claimed development rebate of rs. 2,75,536. the income-tax officer disallowed the assessee's claim as no development rebate reserve had been created. when the matter came up in appeal before the ..... condition for carrying over the development rebate. the tribunal accordingly held that the assessee was entitled to development rebate to be carried over to the following years and directed the income-tax officer to do so. on the aforesaid facts the following questions of law have been referred to this court:'1. whether, on the facts and in the circumstances of the ..... , the assessee should have created development rebate reserve and as that was not done, the assessee was not entitled to the development rebate. he thus confirmed the action of the income-tax officer. the assessee appealed to the tribunal. the tribunal considered the respective contentions of the parties and observed that it had been held by the calcutta high court in the ..... appellate assistant commissioner, it was submitted before him that as there was nil income assessed, no development rebate reserve could be created and the income-tax officer should have computed the develop-ment rebate to be carried forward to be set off against the profits of the future years on the .....Tag this Judgment!
Court : Kolkata
Reported in : 81ITR15(Cal)
..... the end of the relevant assessment year the necessary satisfaction of the central board of revenue was obtained and recorded in the notice as provided in section 151 of the income-tax act, 1961. 3. objections as to the maintainability of the application on the ground that the petition was not properly signed and verified were raised by mr. sen, learned advocate for ..... omission, may be an involuntary omission, to disclose these credits at the time of the original assessment and such failure on his part would justify the income-tax officer in assuming jurisdiction under section 147 of the income-tax act, 1961. in this view, the rule must be discharged. 6. i shall, however, deal shortly with the contention raised by mr. sen. mr. sen referred ..... validity of a notice issued under section 148 of the income-tax act, 1961, for reassessment of the income of the petitioner for the assessment year 1952-53. this rule was issued by this court on the 3rd april, 1969, directing the respondents, the income-tax officer, 'a' ward, district iv(i), calcutta, the commissioner of income-tax, west bengal iii, and the union of india, to ..... the department, while similar objections as to the reliability of the affidavit-in-opposition affirmed by the presentincumbent to the post of the income-tax officer 'a' ward, district iv(i), who could have no personal knowledge of the facts relating to the original assessment of the petitioner were also raised by the learned counsel .....Tag this Judgment!
Court : Kolkata
Reported in : (1989)78CTR(Cal)91,175ITR199(Cal)
..... question of law has been referred to this court under section 256(1) of the income-tax act, 1961 ('the act'), for the assessment year 1973-74 :'whether, on the facts and in the circumstances of the case, the tribunal was right in holding that the income-tax officer was not justified in apportioning the total expenditure incurred by the assessee as between the ..... several heads of income and treating the appropriate portion thereof as expenditure against the dividend income and in ..... entirely under the head 'profits and gains of business or profession'. the appellate assistant commissioner, following the order of the tribunal for the earlier years, held that the income-tax officer was not justified in allocating any expenses claimed as a deduction in working out the loss from business in purchase and sale of shares towards the earning of ..... revenue filed an appeal before the tribunal. the department raised the contention that the appellate assistant commissioner erred in rejecting the income-tax officer's stand in allocating the expenditure towards the earning of dividend income and in directing the income-tax officer to enhance the loss computed under the head 'profits and gains of business or profession' by rs. 71,113 and .....Tag this Judgment!
Court : Kolkata
Reported in : 200ITR266(Cal)
..... ajit k. sengupta, j. 1. in this reference under section 256(2) of the income-tax act, 1961, for the assessment years 1977-78, 1979-80 and 1980-81, the following question of law has been referred to this ..... the assessee for all the three assessment years.3. the assessee, being aggrieved by the order of the income-tax officer, agitated the dispute before the commissioner of income-tax (appeals). the commissioner of income-tax (appeals), after hearing the contentions of the assessee, held that the assessee-company was entitled to deduction of rs. 1 ..... as per the order of the high court, the central excise authority was then restrained from levying any such duty pending disposal of the rule. the income-tax officer, therefore, held that no liability in respect of central excise duty accrued or arose in the previous year. hence, he disallowed the claim of ..... of cit v. century enka ltd. : 130itr267(cal) , held that the commissioner of income-tax (appeals) was perfectly justified in allowing the excise duty liabilities for the assessment years in question. the tribunal confirmed ..... relevant accounting periods.4. the department then preferred a second appeal before the tribunal against the decision of the commissioner of income-tax (appeals). the tribunal, after considering the facts and circumstances of the case and following the decision of the calcutta high court in the case .....Tag this Judgment!