Court : Kolkata
Reported in : 87ITR618(Cal)
..... sabyasachi mukharji, j.1. in this application the petitioner challenges the notice issued under section 148 of the income-tax act, 1961, in respect of the assessment year 1960-61. for the aforesaid assessment year the petitioner had been given development ..... in existence. accordingly, proceedings under section 148 read with section 147(a) were initiated for that year after obtaining prior approval of the commissioner of income-tax, west bengal iii, calcutta. the assessee filed a writ petition in the high court (matter no. 156 of 1965) and the high court ordered ..... claimed that the reassessment proceedings were validly initiated.2. before me, dr. pal, learned counsel for the petitioner, contended, firstly, that the original income-tax officer had not filed any affidavit to controvert the assertion made on behalf of the petitioner that at the time of the original assessment the petitioner had ..... these machinery were brought into use in the year prior to the previous year relevant for the present assessment year. in that year before the income-tax officer, according to the assessee, the assessee had produced all the relevant documents showing that these machinery had been brought into use by the ..... was entitled to claim development rebate in accordance with the provisions of the act. the petitioner has, therefore, challenged the issue of the notice on the ground that there were no materials and no reasons for the income-tax officer to form the belief that due to any omission or failure on .....Tag this Judgment!
Court : Kolkata
Reported in : 187ITR596(Cal)
..... ajit k. sengupta, j.1. in this reference under section 256(2) of the income-tax act, 1961, for the assessment years 1965-66 and 1966-67, the following question of law has been referred to this court ..... and repayments of the loans in question were made by cheques. the cheque numbers and the names of the banks were examined by the income-tax officer, if the income-tax officer had doubted the numbers of the cheques, he could have asked the assessee to furnish the details in that respect, but that was ..... to show that the receipts and repayments were made by cheques. the income-tax officer, however, called upon the assessee to produce the parties, but the assessee did not do that. he (income-tax officer, accordingly issued notices under section 131 of the act to the hundi creditors but the same were received back unserved. even ..... those on whom notices could be served did not appear in response to the said notices. the income-tax officer, accordingly, held that no reliance could ..... the tribunal have acted without any legal evidence and/or by rejecting improperly admissible evidence and whether such conclusion and/or findings are otherwise unreasonable and/or perverse ?'2. the facts shortly stated are that, in the course of the assessment proceedings for the years under consideration, the income-tax officer noticed hundi .....Tag this Judgment!
Court : Kolkata
Reported in : 196ITR488(Cal)
..... ajit k. sengupta, j.1. in this reference under section 256(1) of the income-tax act, 1961, for the assessment year 1977-78, the following question of law has been referred to this court :'whether on ..... and replacement could not be said to be revenue expenditure.8. the tribunal, therefore, set aside the order of the commissioner of income-tax (appeals) and restored that of the income-tax officer.9. the assessee filed a miscellaneous application which was partly allowed.10. however, the said miscellaneous petition does not bear on ..... amount was spent by the assessee for renovation of the buildings referred to above.3. the assessee appealed to the commissioner of income-tax (appeals).4. the commissioner of income-tax (appeals) after going through the details of the expenses found that in fact a sum of rs. 35,000 only was ..... the amount was spent was dilapidated. therefore, a dilapidated house would necessarily require extensive repairs. this dilapidated condition is also emphasised by the commissioner of income-tax (appeals). the tribunal, however, came to the conclusion that the amount was spent for renovation or extensive repairs of a house. a renovation merely ..... section 37 of the act. such view has been taken in a number of cases : regal theatre v. cit , girdhari dass and sons v. cit : 105itr339(all) and liberty cinema v. cit : 52itr153(cal) . the tribunal has overlooked the fact recorded by the income-tax officer in the assessment order. the income-tax officer observed 'the .....Tag this Judgment!
Court : Kolkata
Reported in : 108ITR64(Cal)
..... deb j. 1. this is a reference tinder section 66(2) of the income-tax act, 1961. it relates to the assessment year 1955-56, the relevant previous year ending on may 31, 1954.2. the assessee was carrying on business in ..... a capital loss.9. mr. sengupta has also relied on the decision of the supreme court in the case of r. b. seth moolchand suganchand v. commissioner of income-tax : 86itr647(sc) . at page 651 of the report, it has been observed by the supreme court that in the case of a mining lease the 'empirical ..... . hence, reliance on this decision was misplaced by him.7. the supreme court says this in the case of assam bengal cement co. ltd. v. commissioner of income-tax : 27itr34(sc) :'in cases where the expenditure is made for the initial outlay or for extension of a business or a substantial replacement of the equipment, ..... for commercial purpose', and, hence, the above observation of the supreme court overrules his contention. he has also cited the case of india cements ltd. v. commissioner of income-tax : 60itr52(sc) , in which certain sums were spent by the assessee in connection with the borrowing of a loan in order to carry on its business and ..... this contention he has relied on the following observation of the supreme court in the case of bombay steam navigation co. (1953) (p.) ltd. v. commissioner of income-tax : 56itr52(sc) :'if the outgoing or expenditure is so related to the carrying on or conduct of the business, that it may be regarded as an integral .....Tag this Judgment!
Court : Kolkata
Reported in : 108ITR372(Cal)
..... dipak kumar sen, j.1. in this reference under section 256(2) of the income-tax act, 1961, at the instance of m/s. anand rice & oil mills, calcutta, the assessee, the tribunal has been directed to refer to this court the following ..... the prices claimed by the assessee in respect of purchase of paddy in these three months aggregating 4,477 maunds only. on the rate as estimated by the income-tax officer the addition on this account could not exceed rs. 6,600. the tribunal has not given any basis of its own estimate. it is also not ..... of the revenue was that the appellate assistant commissioner not having accepted the explanation of the assesee he was not justified in reducing the addition made by the income-tax officer. it was also pointed out to the tribunal that where the purchases were made direct from the cultivators the intermediary profits available to the authorised dealers ..... appears that the income-tax officer accepted the quantity of paddy purchased by the assessee, viz., 53,043 maunds, during the said assessment year. but he did not accept the purchase price ..... andother expenses came to rs. 22.17 per maund but the same rice was sold at a lower rate, viz., rs. 21.84 per maund.3. the income-tax officer accepted the sale figures of the assessee inasmuch as the same were vouched and were found to have been made at the prevailing market rate. it also .....Tag this Judgment!
Court : Kolkata
Reported in : 187ITR706(Cal)
..... for the assessment year 1966-67, the petitioner firm had been assessed by the income-tax officer and the total income was computed at rs. 79,346 and there was imposition of penalty under section 271(1)(a) of the income-tax act for late filing of the return and the penalty imposed amounted to rs. 3, ..... the tax dues, and as to the jurisdiction of the tax recovery officer. in support of his contention, he has referred to the cases in kapurchand shrimal ..... 800. for the assessment year 1967-68, the petitioner firm was assessed by the appropriate income-tax officer and the income assessed amounted to rs. 1,12,502, the ..... has argued at length contending that the steps taken by the income-tax authorities to recover the dues are unwarranted and uncalled for. he has drawn the attention of the court to sections 220, 222, 223 and 224(2) of the income-tax act and referred to this court as to this scope of recovery of ..... in particular to the pleadings made by the parties, it appears that both the appeals are still now pending before the appellate assistant commissioner of income-tax, jalpaiguri. the assessments made for the subsequent years have been completed and the result is in favour of the department. the only point raised .....Tag this Judgment!
Court : Kolkata
Reported in : 199ITR775(Cal)
..... j. 1. in this reference under section 256(2) of the income-tax act, 1961, for the assessment year 1978-79, the following question of law has been referred to this court :' whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal was justified in holding that excise duty demand of rs. ..... merits of the contention, we hold that inasmuch as the disputed demand did not survive in view of the ultimate finding of the excise tribunal, the income-tax appellate tribunal was not justified in holding that the excise duty demanded in a sum of rs. 2,71,400 was allowable expenditure during the year ..... paid.3. the commissioner of income-tax (appeals), on appeal, by placing reliance on an earlier order the tribunal, allowed the assessee's claim.4. on further appeal, the tribunal maintained the ..... had not yet been quantified. the income-tax officer, therefore, did not allow the assessee's claim. he also held that it would be allowed in the year in which it was settled and ..... the assessee filed a copy of the petition of appeal filed before the appellate collector of central excise, calcutta, disputing the levy of demand. the income-tax officer was of the view that the assessee had not accepted the demand and it had not made any entry in the accounts. hence, the demand .....Tag this Judgment!
Court : Kolkata
Reported in : 108ITR515(Cal)
..... s.c. deb, j. 1. this is a reference under section 256(1) of the income-tax act, 1961. the statement of the case relates to the assessment year 1961-62, the relevant previous year being 1367 b.s. one gour hari ..... property has been partitioned between the members of the family. therefore, the above question is covered by the decision of this court in the case of commissioner of income-tax v. balai chandra paul : 105itr666(cal) in which all the earlier decisions of this court have been discussed and followed. 6. in this view of ..... appeal before the appellate assistant commissioner and relied on the decision of this court in the case of biswa rajan sarvadhikari v. income-tax officer : 47itr927(cal) . it was contended on behalf of the assessee that in view of the said decision there could be no undivided hindu family ..... the status of a hindu undivided family and in course of such assessment as it was contended on its behalf that the family was divided, the income-tax officer issued notices to the members and they submitted that there had been a complete partition of the joint family and the property had been partitioned by ..... of their above contention they produced a deed of partition dated march 21, 1960, before the income-tax officer who has,however, held that the said property was not partitioned by metes and bounds and accordingly he assessed the income of this property in the hands of the hindu undivided family. 3. the assessee preferred an .....Tag this Judgment!
Court : Kolkata
Reported in : 106ITR957(Cal)
..... from the decision of the tribunal the following questions have been referred to us at the instance of the assessee under section 256(1) of the income-tax act, 1961 :'1. whether, on the facts and in the circumstances of the case, and having regard to the legal position, the tribunal was justified ..... as it was before the death of yudhisthir lal, this position is supported by the decision of the mysore high court in the case of commissioner of income-tax, v. smt. nagarathnamma : 76itr352(kar) , which was cited by mr. bhattacharjee for the assessee. the direct nexus which was there during ..... of mr. bhattacharjee we are unable to accept the same. in the very decision cited by mr. bhattacharjee, rajkumar singh hukam chandji v. commissioner of income-tax : 78itr33(sc) , tests have been clearly laid down by the supreme court as follows (pages 43 and 44 of the report):'in order ..... or salary or commission for services rendered.15. mr. bhattacharjee also relied on a decision of the supreme court in the case of commissioner of income-tax v. rajasthan mines ltd. : 78itr45(sc) for the proposition that even accepting the primary facts found by the tribunal the court could ..... interest in the partnership and that her three minor sons had been individually admitted to the benefits thereof. this contention was not accepted by the income-tax officer who included the share of profits accruing to the three minor sons of yudhisthir lal for the period 19th december, 1967, to the 31st .....Tag this Judgment!
Court : Kolkata
Reported in : 92ITR121(Cal)
..... sabyasachi mukharji, j.1. in this case under section 66(1) of the indian income-tax act, 1922, a familiar question has been referred to this court:' whether, on the facts and in the circumstances of the case, ..... transaction should be examined to determine whether it is a revenue loss or capital loss. in the case of ramnarain sons (p,) ltd. v. commissioner of income-tax, : 41itr534(sc) the supreme court observed that in considering whether a transaction was or was not an adventure in the nature of trade, the ..... the shares were preference shares and it had been held for a long period. for these factors the tribunal was of the opinion that the income-tax officer was justified in treating these as investment shares. the tribunal further observed that even a share dealer could have investments and on the facts found ..... assistant commissioner further observed that it was the assessee's contention that these shares were purchased in the course of their share dealing business and the income-tax officer had not been able, according to the appellate assistant commissioner, to prove that these shares were acquired for investment purposes. so far as the ..... that these shares were ultimately acquired by messrs. indian textile agency ltd. numbering 300 shares and by the calcutta properties ltd. numbering 700 shares. the income-tax officer observed that these two companies were controlled by the members of the bangur family and disallowed the loss on the ground that the transaction in question .....Tag this Judgment!