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Judgment Search Results Home > Cases Phrase: income tax act Court: kolkata Year: 1963 Page 3 of about 49 results (0.028 seconds)

Sep 10 1963 (HC)

Madanlal Mahawar and ors. Vs. the Commercial Tax Officer, Central Sect ...

Court : Kolkata

Decided on : Sep-10-1963

Reported in : [1965]16STC1071(Cal)

..... supply v. union of india : [1956]29itr717(sc) . in that case, the supreme court was considering the effect of section 5(7-a) on section 64 of the income-tax act. section 64 of the income-tax act makes provision for determining the place of assessment. by sub-section (1) where an assessee carries on business, profession or vocation at any place, he shall be assessed ..... opportunity to represent his views by the commissioner or commissioners concerned or in case of disagreement between them by the board of revenue. section 5(7-a) of the income-tax act reads as follows:--the commissioner of income-tax may transfer any case from the income-tax officer subordinate to him to another, and the central board of revenue may transfer any case from any one ..... notice. this was the view taken by the federal court in deciding a similar point under the indian income-tax act in the case of chatturam v. commissioner of income-tax [1974] 15 i.t.r. 302 in which kania, j. (as he then was), observed:--the income-tax assessment proceedings commence with the issue of the notice. the issue or receipt of a notice is not ..... -section in terms makes provisions for the transfer of a 'case'. under the indian income-tax act, 1922, a case is started when the income-tax officer issues a notice under section 22(2) of the act calling upon the assessee to file his return of his total income and total world income during the previous year and then the assessee submits his return in the prescribed form .....

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Mar 11 1963 (HC)

Ram Kumar Agarwalla and Brothers Vs. Commissioner of Income-tax, Calcu ...

Court : Kolkata

Decided on : Mar-11-1963

Reported in : [1964]52ITR82(Cal)

..... a profession, vocation or occupation', and was of a 'casual and non-recurring nature' within the meaning of section 4(3)(vii) of the income-tax act.both the income-tax officer as well as the appellate assistant commissioner rejected the claim of the assessee that the receipt of this sum of rs. 1,75,000 was ..... mere fact of its singularity or rarity alone be regarded as 'casual' or 'non-recurring' within the meaning of section 4(3)(vii) of the income-tax act. it is at best a circumstance but not decisive.the recent decision of the house of lords in rolls-royce ltd. v. jeffrey contains very useful ..... panckridge j.) in in re susil c. sen discussed a claim for exemption for the sum of rs. 10,000 under section 4(3)(vii) of the income-tax act, where the learned chief justice, at page 271, observe :'commercial men rarely pay money without good reason and generally do so in return for property, goods, ..... 00,000 out of rs. 6,00,000. it is needless for us to reiterate that the definition of business in section 2(4) of the income-tax act is not an exhaustive definition but it is an inclusive one in the widest possible terms as including 'any trade, commerce or manufacture or any adventure ..... casual and non-recurring nature and that it had not arisen out of the appellant-assessees business and, therefore, it was exempt from tax under section 4(3)(vii) of the income-tax act. the judicial member, on the other hand, held that the assessee was a professional broker and the assessee in the first instance .....

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Feb 19 1963 (HC)

Liberty Cinema Vs. Commissioner of Income-tax, CalcuttA.

Court : Kolkata

Decided on : Feb-19-1963

Reported in : [1964]52ITR153(Cal)

..... that the expenditure incurred in defending the suit was revenue expenditure and not capital expenditure within the meaning of section 10(2)(xii) of the income-tax act as it then was and it was, therefore, an allowable deduction. the distinction between that case and the present reference is that it was ..... cases. but somehow or other, the basic character of such a claim seems to have received no close judicial scrutiny. section 10 of the income-tax act deals with profits and gains of business, profession or vocation and the allowance that can be made in computing such profits and gains. a cursory ..... decision and we must also emphasise that the allahabad decision was concerned with a situation before amendment of clause (xv) of section 10(2) of the income-tax act by the addition of the word : 'not being an allowance of the nature described in any of the clauses (i) to (xiv) inclusive'. ..... the assessment.before the appellate tribunal for the first time the assessee made a case in the alternative under section 10(2)(xv) of the income-tax act for allowances of these expenses. the order of the tribunal makes it clear that the renovation expenses claimed by the assessee were not current ..... renovation expenses incurred in the relevant year were all of capital nature and, therefore, were not covered by section 10(2)(v) of the income-tax act. he added a further reason to come to that conclusion by recording the fact that the assessee was claiming the current repair expenses separately under a .....

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Apr 11 1963 (HC)

East India Commercial Co. Private Ltd. Vs. Commissioner of Income-tax, ...

Court : Kolkata

Decided on : Apr-11-1963

Reported in : [1964]54ITR81(Cal)

..... the judgment of the supreme court in that decision, at page 478, expressly pointed out that trade mark was not really an asset or capital for the purpose of the income-tax act. the registration of the trade mark only gave certain procedural facilities and, prima facie, evidentiary presumption but did not create an asset. kania c.j., at pages 478-479, observed ..... expense or rather expenses for stamp duty on a document which proved ineffective in securing any asset. it claims to deduct the sum under section 10(2)(xv) of the income-tax act, which provides for an allowance, inter alia :'any expenditure (not being an allowance of the nature described in any of the clauses (i) to (xiv) inclusive, and not being in ..... acquired or not, the view or idea will stamp it as capital expenditure. this court should have thought that the income-tax act was not an act to tax ideas or views which were not executed into overt acts such as acquisition of a capital or income. but the remarks of viscount cave l.c. have been canonized into law, and that great lord chancellor today does ..... of cases, reference may be made to the recent decision of the supreme court in a. v. thomas & co. ltd. v. commissioner of income-tax, which also discussed a claim for deduction under section 10(2)(xv) of the income-tax act. hidayatullah j., at page 74 of that report observed as follows :'this clearly shows that the assessee-company intended to acquire a capital .....

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Jul 26 1963 (HC)

E.S. Olpadvala Vs. Commissioner of Income-tax CalcuttA.

Court : Kolkata

Decided on : Jul-26-1963

Reported in : [1964]54ITR440(Cal)

..... the judicial committee cited above.(1) (19353 i.t.r. 237 (p.c.).mr. sampat iyengar, counsel for the applicant, urged before us that under the relevant section of the income-tax act, it must be found that an asset has been transferred directly or indirectly to the wife by the husband and a 'covenant' to any annuity can never to be an ..... legislature may have taken recourse to what is sometimes called 'a special dictionary'. but i do not see how this definition can be attracted to the income-tax act. moreover, it is interesting that even in the wealth-tax act, all rights to annuity are not excluded from the definition of 'assets'. a particular slice has been taken out of the domain of annuity, and ..... for personal use by the assessee or any member of his family dependent on him; and(iii) any land from which the income derived is agricultural income.'in the absence of a definition of 'asset'in the indian income-tax act, before we go to the wealth-tax act, it is only proper that some attention should be devoted to the definition of 'capital asset'in the ..... conditions relating thereto did not preclude the commutation of any portion thereof into a lump sum grant. the indian income-tax act does not give any definition of 'asset'. but there is a definition of 'capital asset' in section 2(4a) of the indian income-tax act, which runs thus :'capital asset means property of any kind held by an assessee, whether or not connected with .....

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Mar 23 1963 (HC)

Standard Refinery and Distillery Ltd Vs. Commissioner of Income-tax (C ...

Court : Kolkata

Decided on : Mar-23-1963

Reported in : [1965]55ITR139(Cal)

..... onus is clearly on the assessee to establish that he is entitled to the reliefs proposed by sub-section (2) of section 24 of the indian income-tax act. that onus, as we have already point out, has not been discharged by the assessee in the present reference.incidentally, i may refer to the ..... is difficult to come to the conclusion that the two businesses were the 'same business' within the meaning of sub-section (2) of section 24 of income-tax act. the tribunal says that what is required is interlacing and dovetailing. in other words, the essential condition that ought to be satisfied is that the discontinuance on ..... were interconnected or were inextricably connected with each other to constitute the 'same business' within the meaning of sub-section(2) of section 24 of the indian income-tax act. the tribunal, therefore, dismissed the assessees claim.on the above facts and in the circumstance, the following question of law has been framed by this court ..... decision of the madras high court in the k. govindan v. commissioner of income-tax. it is stated that the question whether, for purposes of section 24(2) of the indian income-tax act, 1922, a given business is a separate business or is a part of another business which the assessee ..... sankar prasad mitra j. - this is a reference under section 66(2) of the indian income-tax act, 1922. the assessee is public limited company. the assessment year is 1949-50, the corresponding accounting year being the calendar year ending .....

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Sep 19 1963 (HC)

Indian City Properties Limited Vs. Commissioner of Income-tax (Central ...

Court : Kolkata

Decided on : Sep-19-1963

Reported in : [1965]55ITR262(Cal)

..... holding that the proportionate remuneration payable to the managing agent in respect of their rendering services in relation to the aforesaid property was not allowable under section 9 of the income-tax act (4) whether, in the assessment years 1953-54 and 1954-55, the interest payable to greaves cotton & co. ltd. has been justifiably disallowed as a deduction under section 9(1 ..... ) (iv) of the indian income-tax act ?(5) whether, on the facts and in the circumstances of the case, in the assessment year 1955-56 a part of the interest paid to karamchand thapar & bros. ltd. for ..... -year treasury savings certificates. the assessee paid rs. 44,308.88 np. as interest on deposits to its customers and claimed as expenses allowable under section 10(2) of the income-tax act, an amount of rs. 41,701.44 np. the proportionate part of the interest paid to the depositors on the sum of rs. 50,000 invested in the purchase of ..... in the indian state of gwalior and during the relevant period the profits arising to the assessees from this managing agency commission were not taxed in british india by reason of section 14(2) (c) of the income-tax act, 1922. the assessee had a number of directors who were appointed under the articles of association and were paid a remuneration which had been .....

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Jun 28 1963 (HC)

Commissioner of Income-tax Vs. J. Thomas and Co. Ltd.

Court : Kolkata

Decided on : Jun-28-1963

Reported in : [1965]55ITR312(Cal)

..... ), submitted that this court could not enter into the evidence as to the nature and factum of payment, under the provisions of section 66(2) of the income-tax act, as this court had restricted the scope of the question by incorporating the expression 'being an amount paid to the said r. a. s. thomas as ..... him, ought to have been examined for the purpose of eliciting the real state of affairs. the income-tax officer in such circumstances might have summoned mr. palmer of sanderson and morgans ltd. under section 37 of the income-tax act. this was not done and much has been said on behalf of the department that the first ..... the case it is necessary to refer to the decision of the supreme court in commissioner of income-tax v. e. d. sheppard. the majority judgment is that 'compensation' in explanation 2 to section 7(1) of these income-tax act does not mean compensation which is payable or compellable by law. compensation for loss of employment is ..... sen j. - this is a reference under section 66(2) of the indian income-tax act, 1922, hereinafter described as the act.the facts, as appearing in the statement of the case, are stated below :the assessee, j. thomas & company limited, calcutta, is a private ..... reasons made out by them. we are of opinion that such an approach is initially wrong in a reference under section 66 of the act. it will appear from the order of the income-tax officer (page 41 of the paper-book) that one of the directors of the firm, mr. j. h. methold, managing director .....

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Apr 24 1963 (HC)

Asian Tool and Plastic Co. Vs. Commissioner of Income-tax, CalcuttA.

Court : Kolkata

Decided on : Apr-24-1963

Reported in : [1965]55ITR392(Cal)

..... plastic co. for extra-commercial reasons. the purchase price was thus inflated and, consequently, profits were rightly estimated under proviso to section 13 of the income-tax act.'on these facts, the question of law framed for our consideration by the appellate tribunal is as follows :'whether, on the facts and in the ..... assessee for payment of remuneration to the managing director and the other technician directors should have been allowed under section 10(2) (xv) of the income-tax act. in order that an expenditure may be incurred wholly and exclusively for the purpose of earning the profits, it is not necessary to show that ..... the commission remitted by the assessee was given up for reasons of commercial expediency and was business expenditure allowable under section 10(2) (xv) of the income-tax act. the supreme court held (a) that, in cases such as these, in order to justify deduction, the sum must be given up for reasons ..... ). it is a question of fact in each case whether the amount claimed as a deductible allowance under section 10(2) (xv) of the income-tax act was laid out wholly and exclusively for the purpose of such business and if the fact-finding tribunal comes to the conclusion on evidence which would ..... sum of rs. 62,818 on the running of the school and claimed that amount as a deduction under section 10(2) (xv) of the income-tax act. it was held, (i) that, though the question whether the item of expenditure was wholly and exclusively laid out for the purpose of the assessees .....

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Jan 24 1963 (HC)

Hirachand Vastaram Vs. Commissioner of Income-tax, West Bengal.

Court : Kolkata

Decided on : Jan-24-1963

Reported in : [1965]58ITR533(Cal)

..... a partition according to hindu law, to be assessed as an undivided family, as a unit for income-tax assessment, till actually an order is passed by the income-tax act under section 25a of the income-tax act recognising such partition. no such order under section 25a of the income-tax act has been passed in this case recognising the alleged partition, so that it continues as a hindu ..... as such as to the concept of 'the hindu undivided family' as a unit of assessment under the income-tax act. section 2(9) of the income-tax act defines a person include a hindu undivided family. the hindu undivided family is assessed to income-tax and super-tax as a distinct and separate entity. once such a family is assessed as undivided, it continues, even after ..... decisions is of any help to mr. sinhas is held by the judicial committee in the case of sundar singh majithia v. commissioner of income-tax that there was nothing in the income-tax act to prohibit the members of a hindu family from dividing some property, while electing to retain their joint status, and carrying on business as partners in ..... thereof, applied to raigarh and the assessees at raigarh and that the state law was not different from the indian income-tax act of 1922. indeed the assessment order of the income-tax officer, raigarh, specifically and expressly mentioned section 23(3) of the indian income-tax act as being the section under which the assessment was made. there is, therefore, no question of 'any hardship .....

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