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Judgment Search Results Home > Cases Phrase: income tax act Court: kolkata Year: 1962 Page 1 of about 78 results (0.057 seconds)

Aug 02 1962 (HC)

Shivaram Poddar Vs. Income Tax Officer

Court : Kolkata

Decided on : Aug-02-1962

Reported in : AIR1963Cal281

..... under article 133 of the constitution in respect of a division bench decision whereby an order dismissing a writ application for quashing a notice under section 34 of the indian income tax act was affirmed.2. the facts requiring to be stated for the limited purpose of this application are these: the petitioner was a partner of a firm called balmukund radheyshyam which ..... the constitution.9. on behalf of the petitioner, mr. roy put the matter a little differently and he argued that the issue of the notice under section 34 of the income tax act in the present case amounted to a civil wrong inasmuch as the department had no jurisdiction to issue the notice. the contention has been that the question of want of ..... , property and liabilities) order in connection with an assessment proceeding against the state of tripura. the contention was that under the bengal agricultural income tax act, 1944, no ruler of an indian state could be taxed under the provisions of that act. the supreme court proceeded on the assumption that the averments in the plaint were correct and held that the words 'liability in respect ..... present case. it must be recalled that nothing whatever has been done in the proceeding commenced by section 34 of the income tax act. only a notice had been issued, the validity of which was challenged by the petitioner. both before the income tax officer and before this court his contention has been negatived. the effect of the writ proceedings merely is that it is .....

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May 14 1962 (HC)

Assam Oil Co. Ltd. Vs. Commissioner of Wealth Tax (Central), Calcutta

Court : Kolkata

Decided on : May-14-1962

Reported in : AIR1963Cal112,[1963]48ITR49(Cal)

..... far as the second question is concerned, it seems to me that the assessee's contention must be accepted. under section 18 (1) of the income-tax act the income-tax officer may, on or after the first day of april in any financial year, by order in writing, require an assessee to pay quarterly to the ..... deducted in arriving at the net wealth.(b) in any event the last instalment of the demand made under section 18a (1) of the indian income tax act should be deducted from the total valuation in computing the net wealth.3. the tribunal rejected the first contention holding that there was no debt owed ..... taking a supplementary ground, namely, that the last instalment of rs. 47,86,2o7/- of the demand made under section 18a(1) of the indian income tax act which remained outstanding on the valuation date should be allowed as a deduction in the computation of the net wealth. the assessee's contention was two-fold ..... assessee the final instalment of rs. 47,86,207/-due under section 18a of the indian income tax act constituted a debt owed by the assessee within the meaning of clause (m) of section 2 of the wealth tax act as on the valuation date being 31st december 1956?5. so far as the first question ..... 486,180 which had been set apart by the assessee company as an estimated provision for meeting its tax liability in future less the last instalment of demand under section 18a (i) of the indian income tax act was a debt owed by the assessee on the relevant valuation date within the meaning of clause (m .....

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Sep 26 1962 (HC)

N.C. Mukherjee and Co. Vs. Union of India (Uoi)

Court : Kolkata

Decided on : Sep-26-1962

Reported in : AIR1964Cal165,[1964]51ITR366(Cal)

..... under a common style. it may further be stated that the assessee was the firm and a firm could be assessed under the excess profits tax act and income-tax act. but it is urged that when a certificate is to be issued, the certificate would not include the name of the firm but should include ..... same case as 1930 all er 671. shell co., of australia v. federal commrs. of taxation. it was held that the board of review under the income-tax act was not a judicial tribunal but was an administrative tribunal. we have also been referred to the decision in : (1950)nullllj921sc , between bharat bank v. ..... of list no. iii. item no. 43 relates to recovery in a state of all claims arising outside that state. under section 42 of the income-tax act the amount is to be realised as if it were an arrear of land revenue or, in other words, as if it were an arrear of ..... collector, district 24-parganas, a certificate under his signature specifying the amounts of arrears due from the assessee under section 46(2) of the income-tax act. the amount under the aforesaid section is recoverable as if it were an arrear of land revenue. the certificate officer signed and filed a certificate ..... within the meaning of the public demands recovery act on the receipt of a certificate of the income-tax officer within the meaning of section 46(2) of the income-tax act.19. this certificate is challenged as invalid, illegal and improper in these proceedings under article 227 .....

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May 25 1962 (HC)

Harabilas Biswas Vs. Commissioner of Income-tax, West Bengal

Court : Kolkata

Decided on : May-25-1962

Reported in : AIR1963Cal359,[1962(5)FLR147],(1962)IILLJ541Cal

..... should take immediate steps for getting himself released from service, so that he might begin his practice as an income-tax practitioner before the prohibition imposed upon retired or resigned officers of the income-tax department against practising, under the new income-tax act, came into operation. in furtherance of the decision taken by the petitioner, he alleges, he tendered his ..... he thought that it would not be convenient for him to continue as a temporary income-tax officer, even after service of six longyears. he further states that he made up his mind to practise as an income-tax practitioner. since under the new income-tax act of 1961, which was to come into effect from april 1, 1962, restrictions were ..... created regarding the right of officers, who had served in the income-tax department, to practise before the departmental authorities after leaving the department, the ..... resignation by a letter, dated january 24, 1962, addressed to the respondent commissioner of income-tax, through the inspecting assistant commissioner. it is necessary .....

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Dec 14 1962 (HC)

Commissioner of Income-tax (Central), Calcutta Vs. Produce Exchange Co ...

Court : Kolkata

Decided on : Dec-14-1962

Reported in : [1963]50ITR308(Cal)

sinha j. - this is a reference under section 66(1) of the income-tax act. the facts are as follows : the assessee are a public company and its managing agents in messrs. karam chand thapar and bros ltd. the said ..... , the produce exchange corporation ltd., calcutta, for the year 1949-50 the question arose as to how to treat this loss at rs. 3,71,300. the income-tax officer held that the transaction was in the nature of an investment and, therefore, he disallowed the loss. the appellate assistant commissioner upon appeal held that the assessee ..... one of the objects of the assessee company was to carry on business in dealing in shares.after having found these facts, the tribunal considered the findings of the income-tax officer and disagreed with it. it was observed that these shares may have ultimately come to karam chand thapar and sons ltd., an investment company, or the ..... a particular company. that is a case that could have been established by evidence. on the other hand, the way that the case was run before the income-tax officer was that the shares were purchased for the purpose of investment and that the amount concerned was an investment loss. on the facts found it is certainly ..... made for the suggestion that the shares were not readily available in the open market.mr. pal has referred us to a decision of the supreme court in commissioner of income-tax v. national finance ltd. [[1962] 44 i.t.r. 788 (s.c.)]. the facts in that case were as follows : six companies were brought into a .....

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Mar 07 1962 (HC)

Commissioner of Income-tax, Calcutta Vs. Jitendra Nath Mallick.

Court : Kolkata

Decided on : Mar-07-1962

Reported in : [1963]50ITR313(Cal)

..... from the trust property must be deemed to be the income of the assessee and taxed as such.the settlor in this case owned valuable immovable properties situate in calcutta and elsewhere. being ..... and in the circumstances and on a proper construction of the trust deed dated august 16, 1949, the whole income of the trust fell within the ambit of section 16(1)(c) of the indian income-tax act ?', must be answered in the affirmative and against the assessee.the assessee must pay the costs of this reference. ..... the light of section 16(1)(c) of the indian income-tax act, it is necessary to set out the relevant provisions thereof as follows :'all income arising to any person by virtue of a revocable transfer of assets shall be deemed to be income of the transferor :provided that for the purposes of this clause ..... within the meaning of the proviso and no independent deed or document of a subsequent date may be necessary to effect a retransfer.in commissioner of income-tax v. kikabhai premchand [[1948] 16 i.t.r. 207.], the question which engaged the attention of the court was whether it was necessary for ..... said income or assets.it was argued on behalf of the revenue that the trust deed contains more than one such provision by reason whereof the transfer of assets to the trustees can be said to be revocable within the meaning of section 16(1)(c) of the indian income-tax act and all income .....

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Mar 20 1962 (HC)

Commissioner of Income-tax, Calcutta Vs. Anderson Wright Ltd.

Court : Kolkata

Decided on : Mar-20-1962

Reported in : [1962]46ITR715(Cal)

..... was no contingency.counsel for the commissioner contended before us first that contingent liability was not deductible under section 10(2)(xv) of the income-tax act and he further contended that on the construction of the november 1948 agreement there was not promise to pay pension in the event of ..... dated february 10, 1950, the payments by the assessee company constituted an expenditure within the meaning of section 10(2)(xv) of the indian income-tax act in respect of which a claim for deduction could be made.'the assessee company appointed gerald joseph feenan hook as the manager of the assessee ..... this payment was an expense admissible under section 10(2)(xv) of the income-tax act. though the revenue authorities in the assessment years 1950-51 to 1953-54, had allowed such expense to the assessee, the income-tax officer held in the year of the present reference that there being no present ..... bonuses was not allowed to be raised. he also referred to the decisions of the supreme court in commissioner of income-tax v. chandulal keshavlal & co. and commissioner of income-tax v. royal calcutta turf club for the proposition that the question whether the item of expenditure was wholly and exclusively ..... pension was not payable to him and, secondly, it was contended, relying on the decision in indian molasses co. ltd. v. commissioner of income-tax, that as nothing was provided for the contingency of the dismissal of hook the trust would fail and the trustees could not provide for any annuity .....

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Mar 20 1962 (HC)

Lalta Prosad Goenka Vs. Biratnagar Jute Mills Ltd.

Court : Kolkata

Decided on : Mar-20-1962

Reported in : [1963]48ITR653(Cal)

..... in aggarwal chamber of commerce ltd. v. ganpat rai hira lal, in support of the proposition that persons who are bound under the indian income-tax act 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 is made. counsel for ..... , therefore, of opinion that the applicant is entitled to make an application for directions with regard to payment of income-tax. the revenue has now appeared and i am of opinion that the income-tax should be deducted in accordance with the provisions of the income-tax act. there was some controversy as to whether the prayers in the summons were in proper form. it is well ..... money. such interest is fully covered by the word 'otherwise' in rule 52 to which i have already referred.it is now necessary to refer to the provisions of the income-tax act on which reliance was placed by the applicant to found this application. the provisions are to be found in section 18(3b), (6) and (7) of the ..... . i, therefore, make an order in terms of clause (b) of the summons that the applicant will deduct income-tax from the decretal sum in accordance with the provisions of the income-tax act and pay the sum to the appropriate authority who will issue the necessary income-tax certificate to the petitioner evidencing such payment. i also make an order in terms of prayer (e) that .....

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May 14 1962 (HC)

S. N. Mukherjee Vs. Commissioner of Income-tax, CalcuttA.

Court : Kolkata

Decided on : May-14-1962

Reported in : [1963]49ITR327(Cal)

..... .as regards the second questions, the first can to be considered is the bombay decision of chagla, c.j. in navinchandra mafatlal v. commissioner of income-tax. it was there held that section 23a of the income-tax act is not at all a section under which there can be an assessment or reassessment. it is only a procedural section, under which, a certain class ..... : the assessee is a shareholder in pure jambad collieries (private) ltd. (hereinafter referred to as the 'said company'). for the assessment year 1949-50, the income-tax officer made an order under section 23a of the indian income-tax act upon the company on march 17, 1954, declaring that rs. 2,03,933 should be deemed to have been distributed as dividend amongst the shareholders ..... ) whether, on the facts and in the circumstances of the case, the proceedings, under section 34 of the indian income-tax act were barred by limitation ?'with regard to the first question, learned counsel for the assessee concedes that the question has been decided by the supreme court in the case of ..... the case, section 34 of the indian income-tax act was applicable to include the proportionate share of the undistributed portion of the assessable income of pure jambad collieries (private) ltd. which was to be included in the total income of the assessee by virtue of the order of the income-tax officer passed under section 23a of the indian income-tax act in respect of the said company ?(2 .....

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Feb 06 1962 (HC)

Jethmal Lakhani Vs. Commissioner of Income-tax.

Court : Kolkata

Decided on : Feb-06-1962

Reported in : [1963]49ITR633(Cal)

..... the assessees income assessable to stating that he had reason to believe that the assessees income assessable to income-tax for the assessment year 1946-47 had escaped assessment and it was, therefore, proposed ..... g. k. mitter j. - the question referred to this court under section 66(1) of the indian income-tax act is :'whether on the facts and in the circumstances of the case, the income-tax officer was justified in including the income from undisclosed sources in the reassessment for the year 1946-47 ?'the facts are follows :the assessee was a member of a hindu undivided ..... assessment was made on march 22, 1949. thereafter the income-tax officer came to know that the assessee held a money-lenders licence and had a money-lending business which he had failed to disclose. on july 6, 1954, a notice under section 34 of the income-tax act was issued on the assessee by the income-tax officer stating that he had reason to believe that ..... during the financial year 1945-46.under section 34(1) of the act as it stood at the relevant time 'if in consequence of definite information which has come into his possession the income-tax officer discovers that income profits or gains chargeable to income-tax have escaped assessment in any year. . . the income-tax officer may in any case in which he has reason to believe that .....

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