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Judgment Search Results Home > Cases Phrase: income tax act Court: kolkata Page 11 of about 17,162 results (0.071 seconds)

Apr 29 2003 (HC)

Commissioner of Income-tax Vs. Magnum Export (P) Ltd.

Court : Kolkata

Reported in : (2003)183CTR(Cal)75,[2003]262ITR10(Cal)

..... , learned counsel for the revenue, in his usual fairness, has pointed out with regard to question no. 2 that section 28(iiia) of the income-tax act, 1961, has no manner of application in the present case. in fact, we find from the records that the receipt, which was sought to be brought within ..... d.k. seth, j.1. the following four questions have since been referred before this court under section 256(1) of the income-tax act, 1961 :'(1) whether, on the facts and in the circumstances of the case, the tribunal was right in law in holding that ..... the sale proceeds of rs. 7,25,854 received by the assessee on the sale of the export licence represented capital receipt and was exempt from income-tax ? (2) whether, on the facts and in the circumstances of the case, the tribunal was right in law in holding that the provisions of section ..... have been calculated within the method of computation provided thereunder since the cost of acquisition was unascertainable. we had occasion to deal with such question in income-tax reference no. 36 of 1998 (cit v. general industrial society ltd. : [2003]262itr1(cal) ) disposed of by us on march 25, 2003. therefore, the receipt on ..... defined in section 2(24). the income is a genus. all receipts are income and chargeable to tax according to the heads under which such receipts become chargeable. the charging heads have been distinctly specified in the act in six different categories. an income, unless it comes under a particular head, cannot be charged. if a .....

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Jul 31 2001 (HC)

Commissioner of Income-tax Vs. Estate of Omprakash Jhunjhunwala

Court : Kolkata

Reported in : [2002]254ITR152(Cal)

..... that income is not altered because it is received by a company formed with the object of developing and ..... income received from property and falls under the specific head described in section 9, the character of ..... .12. in the case of s. g. mercantile corporation p. ltd. v. cit : [1972]83itr700(sc) , the question before their lordships was that whether, under the facts and circumstances of the case, the income from sub-letting the stalls of taltolla bazar was assessable under section 10 or section 12 of the indian income-tax act, 1922. at page 705, their lordships observed that 'the ..... 1. on an application under section 256(1) of the income-tax act, 1961, the tribunal has referred the following questions set out at page 2 of the paper book :'1. whether, on the facts and in the circumstances of the case, the .....

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Jul 29 1993 (HC)

Commissioner of Income-tax Vs. Indian Paper Mills Association

Court : Kolkata

Reported in : (1994)121CTR(Cal)430,[1994]209ITR28(Cal)

..... assessee as and when and by way of subscription and admission fees is not liable to be taxed under the income-tax act, 1961 ?' 2. this reference relates to the assessment years 1975-76, 1978- ..... the meaning of section 2(15) of the income-tax act, 1961, as its object was to promote trade and commerce. this contention was rejected by the income-tax officer and for that assessment year the entire amount representing excess of income over expenditure was subjected to tax. for the assessment year 1978-79, the ..... of an association of persons. it has not been shown if the assessee-association has been registered under the societies registration act. 4. the assessee appealed to the commissioner of income-tax (appeals) for all the three years under consideration. it was contended on behalf of the assessee that it was a ..... 1) of the income-tax act, 1961, the following question of law has been referred by the tribunal : 'whether, on the facts and in the circumstances of the case, the tribunal is correct in law in holding that the assessee is a mutual concern and that consequently the income derived by the ..... mutual concern. so, the subscription received by it from its members was not liable to income-tax. it was further submitted that the assessee did not carry on any business activity and that expenditure incurred for various activities undertaken by the .....

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Jul 24 1990 (HC)

Commissioner of Income-tax Vs. Grindlays Bank Ltd.

Court : Kolkata

Reported in : [1994]208ITR700(Cal)

..... of one month and 18 days in presenting the appeal had to be explained by the commissioner upon whom the appellate order was served.5. the relevant provisions of the income-tax act are as under :'section- 253. (2) the commissioner may, if he objects to any order passed by an appellate assistant commissioner under section 154 or section 250, direct the ..... suhas chandra sen, j. 1. the following question of law has been referred by the tribunal 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 is justified in holding that the departmental appeal is time-barred in spite of the fact ..... made for condonation of the delay the only ground made out was that the commissioner of income-tax had wrongly forwarded the order passed by the commissioner of income-tax (appeals) to the income-tax officer, 'h' ward, comp district iv, calcutta, on february 9, 1982, instead of to the income-tax officer, 'a' ward.7. it has not been explained by the commissioner why this mistake was ..... income-tax officer to appeal to the appellate tribunal against the order. (3) every appeal under sub-section (1) or sub-section (2) shall be filed within sixty days of the date .....

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Dec 23 1992 (HC)

Smt. Uma Devi Jhawar Vs. Income-tax Officer

Court : Kolkata

Reported in : [1996]218ITR573(Cal)

..... smt. uma devi jhawar, the appellant/writ petitioner challenged the validity of a notice dated march 31, 1976, issued by the income-tax officer, 'k' ward, companies district-i, calcutta, under section 148 of the income-tax act, 1961 ('the act'), for the assessment year 1967-68. by the aforesaid judgment and order dated may 17, 1989, the said writ petition was ..... started in 1966. hence, the valuer's report does not reflect the correct valuation. since the assessee maintained books of account with full details supported by voucher the income-tax officer cannot reject the same without pointing out any defects. in the circumstances, the appellate assistant commissioner was perfectly justified in accepting the valuation shown by the assessee. ..... question. there, the department preferred an appeal before the tribunal against the order of the appellate assistant commissioner deleting the addition of rs. 48,162 made by the income-tax officer as unexplained investment in the construction of house property. it appears from the order of the tribunal that the assessee started construction of the two-storeyed building, ..... under section 147(a) are satisfied. for invocation of jurisdiction under section 147(a), two conditions are to be satisfied; firstly, the income-tax officer has reason to believe that income, profits or gains chargeable to income-tax have escaped assessment, and secondly, he must have also reason to believe that such escapement has occurred by reason of either (i) omission .....

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Jun 15 1992 (HC)

Commissioner of Income-tax Vs. Woodcraft Products Ltd.

Court : Kolkata

Reported in : (1993)111CTR(Cal)149,[1996]217ITR862(Cal)

..... reimbursed should not be treated as perquisite for the purpose of disallowance under section 40(c) of the income-tax act, 1961 ? 2. whether, on the facts and in the circumstances of the case, the tribunal was justified in law in deleting the disallowance of rs. 1,32,484 being the ..... . sengupta, j.1. in this reference at the instance of the revenue, the following questions have been referred by the tribunal to this court under section 256(1) of the income-tax act, 1961, for the assessment year 1976-77 :'1. whether, on the facts and in the circumstances of the case, the tribunal was justified in law in holding that medical expenses ..... held to be a revenue expenditure incurred in connection with the existing business. this case is clearly distinguishable in view of the findings of fact recorded by the commissioner of income-tax (appeals) as well as by the tribunal in the case of the assessee-company. the assessee, in this case, is already engaged in the business of manufacturing and selling plywood ..... employees. travelling expenses were incurred in connection with the proposed expansion of the existing business of the assessee-company. both the commissioner of income-tax (appeals) as well as the tribunal, following the decision of the gujarat high court in cit v. alembic glass industries ltd. : [1976]103itr715(guj) upheld the claim of the assessee-company. the findings of fact as recorded by .....

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Apr 07 1992 (HC)

Arrah Sasaram Light Railway Co. Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Reported in : [1995]215ITR870(Cal)

..... assessment year 1981-82 was filed on july 30, 1983. as there was a variation between the income shown in the return and the income proposed, the income-tax officer drew up a draft under section 144b(1) of the income-tax act, 1961, on september 6, 1983. the assessee submitted its objection by a letter dated september 12 ..... , 1983. the inspecting assistant commissioner communicated his directions on september 24, 1984, which were received by the income-tax officer on ..... ajit k. sengupta, j.1. in this reference under section 256(1) of the income-tax act, 1961, the tribunal has referred two questions, one relating to the assessment year 1981-82 and the other relating to ..... it is clear that the provisions thereof extend the limitation by the time which the inspecting assistant commissioner may take in giving directions to the income-tax officer but such extension shall not exceed 180 days. explanation 1 provides that in computing the period of limitation for the purpose of section 153, ..... it was urged that the finding given by the commissioner is incorrect.5. the tribunal, following its earlier order, maintained the order of the commissioner of income-tax (appeals) on this point.6. the assessee's contention is that the extension of limitation by 180 days in terms of clause (iv) of explanation .....

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Jun 27 1990 (HC)

Wood Craft Products Limited Vs. Commissioner of Income-tax

Court : Kolkata

Reported in : [1993]204ITR545(Cal)

..... :'whether, on the facts and in the circumstances of the case, the tribunal was justified in upholding the disallowance of the claim under section 80g of the income-tax act, 1961, in respect of the donation of rs. 1,50,000 given to vishwa mangal trust ?3. r. a. no. 962/(cal) of 1986 ..... shares by holding that the said expenses were not capital expenditure ? (2) whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal was justified in law in deleting the addition of rs. 14,467 being export subsidy and duty drawback accrued to the assessee in the ..... :(1) whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal was justified in law in deleting the dis-allowance of rs. 7,500 representing the statutory fee paid in connection with the application to raise ..... 1986 is also concluded by a judgment delivered on september 22, 1989, in the assessee's own case for the earlier assessment year in income-tax reference no. 128 of 1982 (cit v. wood craft products ltd.), wherein it was held that the appellate tribunal was not justified in its decision. following that judgment, question ..... reinforced on a permanent basis. this was the main purpose of the expenditure. in view of that, it was held that the change in the income-earning apparatus or structure was brought about by raising additional capital. the expenditure incurred for that purpose had to be treated as capital expenditure. the .....

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Nov 08 1990 (HC)

Hope (India) Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Reported in : [1993]203ITR118(Cal)

..... court :'1. whether, on the facts and in the circumstances of the case, the tribunal was right in law in upholding the action of the income-tax officer in initiating proceedings under section 147(a) of the income-tax act, 1961, for the assessment year 1963-64 ? 2. whether, on the facts and in the circumstances of the case, the tribunal was justified in sustaining ..... the addition of the sum of rs. 77,786 made by the income-tax officer as income of the assessee under the head 'other sources' for the assessment year ..... appeal before the tribunal.6. the tribunal dismissed the appeal by making the following observations :'the addition of rs. 77,786 has been made by the income-tax officer under section 147(a) of the act for non-disclosure of the correct cost of construction of the building. the construction of the building was started in the accounting year 1960-61 and was ..... this year. we, accordingly, accept the assessee's contention and reduce the addition to rs. 70,231 only. the assessee shall get the remaining relief.'the income-tax officer, in the light of the above direction, took action under section 147(a) of the act and issued a notice to the assessee under section 148. the return filed by the assessee showed an .....

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Aug 13 1992 (HC)

Amal Kumar Chakraborty Vs. Commissioner of Income-tax

Court : Kolkata

Reported in : [1994]207ITR376(Cal)

..... which it was held that where, in respect of any year, the return has been voluntarily filed, the income-tax officer cannot ignore the same and any notice of the reassessment under section 34 (old income-tax act), ignoring the said return, would be invalid. further, reliance was placed on the decision of the calcutta ..... it, to hold that the amount noted in the footnote was really the assessee's income in which case an assessable income would have been found and the tax could be charged thereon. if the income-tax officer had acted on that return and assessed the assessee before march 31, 1959, the assessment would ..... 256(1) of the income-tax act, 1961, the following questions of law have been referred to this court for the assessment year 1972-73 :'1. whether, on the facts and circumstances of the case, the tribunal was justified in reversing the decision of the commissioner of income-tax (appeals) and restoring ..... .8. the revenue brought the appeal before the appellate tribunal contending that sufficient material and facts have been brought on record, which the income-tax officer did take into account, in spite of the claim of the assessee to the contrary. the revenue pointed out the different and ..... any addition under the provisions of section 69 of the act. but learned counsel wants us to blink at the fact that, in 1975, the assessee completely disowned the investment by way of bank deposits. he then impugns the income-tax officer's jurisdiction to invoke the provisions of section 69 .....

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