Skip to content


Judgment Search Results Home > Cases Phrase: income tax act Court: kolkata Year: 1965 Page 1 of about 52 results (0.033 seconds)

Jan 06 1965 (HC)

India Discount Co. Ltd. Vs. Commissioner of Income-tax, Central

Court : Kolkata

Decided on : Jan-06-1965

Reported in : AIR1967Cal475,[1967]64ITR301(Cal)

..... ofthe dividend receivable by forrest as under section 5 (1) and section 5 (3) (c) of the income-tax act 1918 it was required to be included in the computation of his income forthe purpose of super-tax for the year 1921-22. the lord justice clerk (alness) remarked'to say that the respondent purchased the dividend ..... under section 10 from an adventure in the nature of trade or it was dividend within the meaning of section 12 of the income-tax act?'2. in his application to the appellate tribunal for reference to this court the assessee posed no less than four questions the last ..... arrear dividends pertained to the years 1936 to 1945 when it was not the owner of the shares the same could not be considered as its income. the income tax officer turned down the contention holding that as the assessee was a dealer in shares and as the shares were part of his stock-in-trade ..... excessbeing expressed in the contract to be paid 'tocover the portion of the dividend accrued todate.' some months thereafter a dividend of10 per cent free of income tax was declaredand paid by the company for the year endingthe 28th february, 1920, the contract havingbeen entered into on november 25, 1919. forrest contended that of ..... sum of money in his books of account but the real nature of the receipt which has got to be considered for computation of income, profits and gains for income-tax purpose. i do not think necessary to refer to these cases.10. counsel for the revenue contended that whenever shares are sold with .....

Tag this Judgment!

Feb 03 1965 (HC)

Rajasthan Investment Ltd. Vs. Commissioner of Income-tax (Central)

Court : Kolkata

Decided on : Feb-03-1965

Reported in : AIR1965Cal535,69CWN423,[1965]57ITR194(Cal)

..... it is for the assessee to conduct his business, and in his wisdom or otherwise to fix the remuneration to his staff. the income-tax act does not clothe the taxing authorities with any power or jurisdiction to determine the reasonableness of the amount so fixed and paid by the assessee. the only test for ..... masud, j. 1. this reference under section 66(2) of the income-tax act 1922 relates to the assessment year 1954-55, the corresponding previous year of which ended on the 30th june 1953. the facts are briefly ..... is not paid or because the expenditure is not solely and exclusively for the business, and not on the ground that in the opinion of the income-tax officer or other taxing authorities the remuneration is 'unreasonably' high either because the employee does not in the opinion of the authorities, deserve so much, or because the ..... s decision to increase the director's remuneration in any case we cannot agree. the company may increase the director's remuneration without cogent reasons, but the income-tax authorities are not bound to accept the increase. similarly the revenue authorities cannot question the quantum of the remuneration or honorarium of the managing director in cases ..... provisions of section 87(3) of the indian companies act.' 3. in the relevant previous year a sum of rs. 6,000/- was paid to shri dayaram poddar, the managing director as his office allowance besides a sum of rs. 4,078/- as commission. the income-tax officer allowed only rs. 200/-as office allowance per .....

Tag this Judgment!

Feb 05 1965 (HC)

B.K. Gooyee Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Feb-05-1965

Reported in : AIR1966Cal438

..... , there is a prima facie difficulty in my way to hold that there can be waiver of the notice under section 34 of the income-tax act. the subsequent conduct of the assessee is also of no moment.69. for these reasons the answer givenby my learned brother in favour of ..... was addressed before us. it is resolutely challenged by mr. meyer appearing for the revenue that there is nothing in section 84 of the income-tax act thatthe notice is to be signed and that there is nothing specific therein that the notice under the said section must be in writing. ..... the income-tax rules specify the following things after the body of the notice:income-tax officeraddressdate of publication of the notice.20. the income tax officers are appointed under section 6 of the income-tax act. section 2 clause (7) defines income tax officer which 'means' a person appointed to be an income-tax officer under section 5.' the words 'income tax officer ..... may again leave the matter to the discretion of the executive authorities, who may by framing rules require a written notice. rule 18 of the income-tax act is an illustration of this class. the legislature may again do it by prescribing a form.9. hence, it is necessary to consider firstly ..... narrow compass.2. on the 6th flay of march 1951 a notice by registered post was issued by the income-tax officer under section 34 of the income-tax act on the ground that certain incomes had escaped assessment. the said notice was served on the lawyer for the assessee. on receipt of the .....

Tag this Judgment!

Feb 05 1965 (HC)

Commissioner of Income Tax Vs. Kamal Singh Rampuria

Court : Kolkata

Decided on : Feb-05-1965

Reported in : AIR1966Cal454

..... certificate merely on the said ground, even it we be satisfied that the case fulfils the test of fitness under section 66a(2) of the income-tax act. if one takes pains and scrutinises the supreme court cases, it would appear that in many cases, where leave was not granted by the high ..... under the said provisions of the income-tax act, i am happy to note that it is very well argued by the learned advocates on both sides particularly by mr. t. k. ..... pointedly raised in this application as to what are the tests of a 'fit case' under the provisions of section 66-a (2) of the income-tax act, 1922 or in other words what forms the proper foundation for the granting of a certificate for leave to appeal to the supreme court of india ..... appearing for the assessee made helpful submissions fortified by numerous authorities on the general question as to the scope of section 66(a)(2) of the income tax act, which inter alia were taken advantage of in expressing our minds on the point in a judgment already delivered.22. let a certificate under section 66 ..... confirmed the order of the appellate assistant commissioner. thereafter the assessee successfully pressed for a reference under section 66(1) of the income-tax act. the question of law referred by the income-tax appellate tribunal to this hon'ble court was as follows:--'whether on the facts and circumstances of the case, the assessment made .....

Tag this Judgment!

Sep 10 1965 (HC)

indra Singh and Sons Private Ltd. Vs. Union of India (Uoi) and anr.

Court : Kolkata

Decided on : Sep-10-1965

Reported in : AIR1967Cal14,[1967]64ITR501(Cal)

..... law. the assessment case was a pending case after service of the notice under section 35 of the 1922 act, on the date when the impugned order was made namely, september 28, 1963, when the income tax act, 1961 had already come into operation. the amended procedural law, therefore, should apply to the pending proceedings ..... on september 25, 1963, a notice was served upon the petitioner under section 35 of the income tax act, 1922, for rectification of an order of assessment and on september 28, 1963, an order was made by the income-tax officer for rectifying the assessment order for the assessment year 1958-59 by adding back rs. 13 ..... . the next contention of mr. banerjee was that the impugned order was made under section 154 of the income tax act, 1961 this section, it was argued, had no retrospective application, and could not therefore be invoked for the purpose of ..... . this point is also covered by the decision of the supreme court in hazari mal v. income tax officer, spl. circle ambala cantt : [1961]41itr12(sc) ..... there might be two opinions in other words, the argument on behalf of the petitioner was that the jurisdiction of the income tax officer to proceed under section 35 of the act depended upon the existence of a mistake apparent from the record. in the facts of this case, however, there is .....

Tag this Judgment!

Jan 21 1965 (HC)

Phonographic Performance (Eastern) (Private) Ltd. Vs. Commissioner of ...

Court : Kolkata

Decided on : Jan-21-1965

Reported in : AIR1966Cal92

..... . 1. the two questions referred to this court under section 66 (1) of the income-tax act are as follows:'1. whether on the facts and in the circumstances of the case, the sums of rs. 1,39, 439 and rs. 1, 57, 453 were assessable as the income of the applicant company for the assessment years 1956-57 and 1957-58 respectively? 2 ..... computation of profits provided that income received from investments was to be included in the profits in the cases and to the ..... to a correct conclusion on both the questions. as regards the first question what has to be considered is whether the assessee was carrying on a business and was deriving income which was assessable to tax under the act. the fact that the assessee's business was that of an agent and that it had agreed to pay over the bulk of its ..... of excess profits tax. under the finance (no. 2) act, 1939 section 12(1) tax had to be paid on the excess of profits over the standard profits in respect of the chargeable accounting period. schedule vii to the act provided for computation of profits and capital for purposes of excess profits tax and in part i containing rules for adaptations of income-tax principles as to .....

Tag this Judgment!

Mar 26 1965 (HC)

Commissioner of Income-tax Vs. Sm. Bani Rani Rudra

Court : Kolkata

Decided on : Mar-26-1965

Reported in : AIR1967Cal293,[1966]59ITR216(Cal)

..... revenue and has placed the matter very fairly before us. there can be no question that the tribunal came to the right conclusion. under section 9(1) of the income-tax act 'a tax shall be payable by an assessee in respect of the bona fide annual value of property consisting of any buildings or lands appurtenant thereto of which he is the owner ..... tribunal therefore held that on the death ofj.k. rudra, his son and wife became entitled to the properties in equal shares and under section 9(3) of the income-tax act the income from properties could be assessed only on the assessment of two persons separately inasmuch as they were co-owners of the properties each having; a definite share therein, 3. mr ..... on the facts and circumstances of the case and on true interpretation of the provisions of sub-sections (1) and (3) of section 9 of the income tax act, the tribunal was correct in holding that the income from the house properties could not be assessed in the hands of the assessee hindu undivided family? 2. the facts as discovered from the statement of ..... one moiety of the property with her son. 5. by reason of the operation of the hindu succession act 1956, section 14, the limited interest which she got under the act of 1937 was converted into that of a full owner. but for income-tax purposes we have got to see whether her share and that of her son, who were the owners of .....

Tag this Judgment!

Dec 24 1965 (HC)

Commissioner of Income-tax and ors. Vs. Sm. Kiran Devi Singhee

Court : Kolkata

Decided on : Dec-24-1965

Reported in : AIR1967Cal359,70CWN414,[1967]65ITR501(Cal)

..... court.22. in our opinion, the contention of mr. mitter that the reference to the code of civil procedure in section 63 (1) of the income tax act, 1922, must he held lo be a reference to the code as amended, is well founded. so far as this court is concerned, the validity ..... 241 and also in re, wood's estate, (1886) 31 ch d 807. relying upon these two decisions mr. bhabra argued that the income-tax act, 1922 was a central act which required the notice to be served according to code of civil procedure, and therefore the terms of order v, rule 17 of the code ..... respondent by the appellant no. 1., who issued a notice in writing in connection with a proceeding under section 33-b of the income tax act, 1922, (hereinafter referred to as the act). one of the notices issued by the appellant no. 1, in the circumstances hereinafter stated, was received by the respondent at bldasar, ..... 's case : [1961]41itr425(sc) that the income-tax act provides a complete machinery for assessment of tax and for relief in respect of improper or erroneous orders made by the revenue authorities. it is for the revenue authorities to ..... in support of this contention mr. mitter relied upon the decision of the supreme court in shivram poddar v. income-tax officer : [1964]51itr823(sc) in which the question of alternative remedy provided by the income-tax act was discussed as follows:'it is however necessary once more to observe, as we did in c. a. abraham .....

Tag this Judgment!

Jan 21 1965 (HC)

Commissioner of Income-tax Vs. Sudhir Kumar Laha and anr.

Court : Kolkata

Decided on : Jan-21-1965

Reported in : AIR1965Cal476

..... of the trustees. the assessment was made under section 23(3) read with section 34(1)(a) and section 41 of the income-tax act on anath krishna lalta as trustee. the assessee's appeal to the appellate assistant commissioner was not successful. after going into the question ..... not accepted by the allahabad high court. the court observed that-'if the assessee was in doubt he might well have asked for elucidation from the income tax authorities, or, when he was submitting hisreturn, he should have made clear the capacity in which he was furnishing his return.' the notice was ..... facts necessary for his assessment for that year, income, profits or gains chargeable to income-tax have escaped assessment for that year, or have been under-assessed or assessed at too low a rate, or have been made the subject of excessive relief under the act, orexcessive loss or depreciation allowance has been computed. ..... higher one under section 41 of the act. so 'far' as the form of the return is concerned it is the same in the case of an executor as in the case of a trustee. 4. in the case of gopal das parshottamdas commissioner of income tax, cp and up 1940 9 itr 130 ..... anath krishna laha undoubtedly played the dual role of executor and trustee for many years after the death of joggeswar laha and the probate of his will. when exactly a person ceases to be an executor and becomes a trustee is a question not always easy to solve. if the income tax .....

Tag this Judgment!

May 07 1965 (HC)

Commissioner of Income-tax Vs. Life Insurance Corporation of India, Un ...

Court : Kolkata

Decided on : May-07-1965

Reported in : AIR1966Cal493

..... case, the sum of rs. 3,98,631 was allowable as an expenditure under section 10(2)(xv) of the indian income-tax act?' 3. mr. gouri mitter, learned counsel for the commissioner of income-tax has referred us to prayer (b) of the plaint in the high court suit which reads as follows: 'plaintiff claims:........ ..... point to be decided in this reference under section 66(1) of the income-tax act, 1922, is whether the litigation expenses amounting to rs. 3,98,631 should be allowable as an expenditure under section 10(2)(xv) of the act. the relevant facts underlying this reference as set out in the statement of ..... purposes of business.' 4. in our opinion, mr. mitter's contention cannot be accepted in the facts and circumstances of this case. the income-tax tribunal in its order has come to the following conclusions:'(a) we think the appellate assistant commissioner is not quite correct in view of the ..... the light of this principle.' the only other case he has referred to us is n. selvarodjalon chetty and co. (india) madras v. commr. of income-tax madras : air1965mad118 . he, in particular, laid stress on the following observations of the madras high court at p. 120: 'these observations made it clear ..... shares held by hindusthan, the group supporting the plaintiff cannot control new tea.' in support of his contention he has cited liberty cinema v. commr. of income-tax : [1964]52itr153(cal) where the supreme (sic) court at p. 167 has stated: 'the position on the authorities therefore, is that if the .....

Tag this Judgment!


Save Judgments// Add Notes // Store Search Result sets // Organizer Client Files //