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Judgment Search Results Home > Cases Phrase: income tax act Court: kolkata Year: 1970 Page 1 of about 78 results (0.114 seconds)

Apr 17 1970 (HC)

Keshtra Mohan Roy Vs. Income-tax Officer, a Ward and ors.

Court : Kolkata

Decided on : Apr-17-1970

Reported in : [1971]81ITR15(Cal)

..... the end of the relevant assessment year the necessary satisfaction of the central board of revenue was obtained and recorded in the notice as provided in section 151 of the income-tax act, 1961. 3. objections as to the maintainability of the application on the ground that the petition was not properly signed and verified were raised by mr. sen, learned advocate for ..... omission, may be an involuntary omission, to disclose these credits at the time of the original assessment and such failure on his part would justify the income-tax officer in assuming jurisdiction under section 147 of the income-tax act, 1961. in this view, the rule must be discharged. 6. i shall, however, deal shortly with the contention raised by mr. sen. mr. sen referred ..... validity of a notice issued under section 148 of the income-tax act, 1961, for reassessment of the income of the petitioner for the assessment year 1952-53. this rule was issued by this court on the 3rd april, 1969, directing the respondents, the income-tax officer, 'a' ward, district iv(i), calcutta, the commissioner of income-tax, west bengal iii, and the union of india, to ..... the department, while similar objections as to the reliability of the affidavit-in-opposition affirmed by the presentincumbent to the post of the income-tax officer 'a' ward, district iv(i), who could have no personal knowledge of the facts relating to the original assessment of the petitioner were also raised by the learned counsel .....

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Feb 20 1970 (HC)

Lakhmini Mewal Das Vs. Income-tax Officer, j Ward and ors.

Court : Kolkata

Decided on : Feb-20-1970

Reported in : [1972]84ITR649(Cal)

..... the assessment various confirmation letters from the lenders as well as some of the discharged hundis were produced before the income-tax officer a notice purported to be under section 148 of the income-tax act, 1961, dated the 24th march. 1969, and issued by the income-tax officer, 'e' ward, hundi circle, calcutta, the respondent no. 2, herein, was served on the petitioner on the ..... ending on the 31st march, 1960, he was assessed under section 23(3) of the income-tax act, 1922, on a total income of rs. 24,469, by sri a. k. chanda, the income-tax officer, 'j' ward vi, calcutta, on 23rd october, 1962. in making the said assessment the income-tax officer allowed the petitioner's claim for deduction of a sum of rs. 35,236, alleged ..... 1. this application appears to be an offshoot of the alleged all india spurious hundi racket unearthed by the income-tax department. by this application the petitioner impugns a notice issued under section 148 of the income-tax act, 1961, for reassessment of the petitioner's income for the assessment year 1960-61.2. for the said assessment year, for which the petitioner's accounting year ..... 26th march, 1969, that as the said income-tax officer had reason to believe that the petitioner's income chargeable to tax for the assessment year 1960-61 .....

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Aug 21 1970 (HC)

Ganga Saran and Sons (Private) Ltd. Vs. Income-tax Officer and ors.

Court : Kolkata

Decided on : Aug-21-1970

Reported in : [1971]82ITR29(Cal)

..... by the assessee but not the sufficiency of the reasons for the belief. again the expresion 'reason to believe' in section 34 of the income-tax act does not mean a purely subjective satisfaction on the part of the income-tax officer. the belief must be held in good faith ; it cannot be merely a pretence. to put it differently, it is open to the ..... by the petitioner in respect of the remuneration paid to the directors were allowed in full.2. a notice purported to be under section 148 of the income-tax act, 1961, dated the 28th march, 1968, issued by the income-tax officer, central circle xv, calcutta, to whom in the meantime the petitioner's assessment file had been transferred, proposing to reassess the petitioner's ..... a substantial portion of the remuneration paid to the managing director, which was substantially confirmed by both the assistant commissioner and the income-tax tribunal on appeal. a reference was made to this court under section 66(1) of the indian income-tax act, 1922, and the high court answered the reference in favour of the assessee and held that the disallowance of a portion ..... 1. this is an application under article 226 of the constitution impugning the validity of a notice of reassessment under section 148 of the income-tax act, 1961, in respect of the assessment year 1959-60. the petitioner, ganga saran & sons (p.) ltd., is a private limited company which was incorporated in march, 1947, with ganga saran .....

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Jul 24 1970 (HC)

Assam Oil Co. Ltd. Vs. Income-tax Officer and ors.

Court : Kolkata

Decided on : Jul-24-1970

Reported in : [1971]82ITR62(Cal)

..... has its principal place of business of india atdigboi in the state of assam. it carries on business, inter alia, in oils andlubricants. in its assessment under the indian income-tax act thepetitioner claimed deduction of certain expenses as administrative chargesincurred by the burma oil company ltd. of london as the londonmanagement fee payable by the petitioner and debited in its account. ..... certificates were produced by the petitioner and by three several notices all dated 25th november, 1965, purported to be under section 148 of the income-tax act, 1961, the respondent-income-tax officer notified the petitioner that, as he had reason to believe that its income chargeable to tax for each of the aforesaid three years had escaped assessment within the meaning of section 147 of the ..... produced for my inspection the records of the case and particularly the report made by the respondent-income-tax officer to the commissioner for obtaining sanction under section 143 of the act, a copy of which has been supplied to me. in the said report the respondent-income-tax officer (sri gopala krishnan) has pointed out that for the assessment year 1963-64 it ..... calcutta. the form of the notices shows that the notices were issued under section 147(1)(a) of the said act.7. before i deal with the cause shown to this rule, it would be interesting to notice the different income-tax officers who had made the assessments, issued the impugned notices and showed cause to this rule. the assessments for the .....

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Dec 04 1970 (HC)

Mahabir Prosad Poddar Vs. Income-tax Officer, (B), Ward

Court : Kolkata

Decided on : Dec-04-1970

Reported in : [1971]82ITR299(Cal)

..... 16th march, 1963, the petitioner, mahabir prosad poddar, as an individual, was served with four notices all dated the 19th february, 1963, purported to be under section 148 of the income-tax act, 1961, by the second respondent-income-tax officer in respect of the assessment years 1958-59 to 1961-62 requiring the petitioner to file his returns for the said years as his ..... of the assessee was that of a hindu undivided family the first notice issued was illegal and without jurisdiction and the income-tax officer could not have validly acted on the return filed by the respondent pursuant to that notice and, therefore, the income tax officer was entitled to ignore the first return and issue the second notice and make the assessment under section 34 ..... calendar year 1959 amounted to rs. 25,50,961. this information was conveyed to the respondent-income-tax officer in february, 1962, whereupon he started further inquiry. on or about the 13th december, 1962, the respondent-income-tax officer issued a notice under section 139(2) of the act in the name of mahabir prosad for the assessment year 1962-63, and later mahabir prosad ..... was examined under section 131 of the act on 16th january, 1963. in his deposition, mahabir prosad stated that his father left .....

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Jun 04 1970 (HC)

Premji Bhimji Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Jun-04-1970

Reported in : 75CWN454,[1971]81ITR179(Cal)

..... . mr. mitter, appearing for the assessee, relied on five authorities to explain the meaning of ' adventure in the nature of trade '. that expression appears in section 2(4) of the income-tax act, 1922, which defines ' business ' in these terms:'business includes any trade, commerce or manufacture or any adventure or concern in the nature of trade, commerce or manufacture.'23. the whole ..... is noticeable that the assessee enclosed an annexure ' a ' to his application requiring the tribunal to state the question of law to this court under section 66(1) of the income-tax act, 1922. he himself admitted in paragraph 3 thereof as follows:' one mr. k. ghosal with others was acquiring controlling interest in radha films ltd. by purchasing shares from various persons ..... shares of radha films ltd. was a venture in the nature of trade and whether the said amount of gain was of a 'capital nature' or 'an income from business' taxable under the indian income-tax act ?'3. we shall first deal with the procedural adventure in this case. on december 22, 1953, a rule nisi was granted by this high court for a ..... trade have produced many misadventures in the process of time. some history, therefore, is inevitably involved in deciding this reference.2. originally, it was an income-tax reference of 1953 under section 66(2) of the indian income-tax act, 1922. the question raised in the statement of the case in this reference was simple enough and was in these terms :' whether, under the facts .....

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Dec 16 1970 (HC)

Hindusthan Rubber Works Ltd. Vs. Income-tax Officer, L-ward and ors.

Court : Kolkata

Decided on : Dec-16-1970

Reported in : 75CWN253,[1971]81ITR397(Cal)

..... a stay up to a period, and not so long as 'the appeal remains undisposed of' is not a proper exercise of discretion by the income-tax officer under sub-section (6) of section 220 of the income-tax act, 1961. mr. suhas chandra sen, appearing on behalf of the revenue, drew my attention to the observations of the supreme court in the case of ..... his discretion? if not, can he be made to exercise his discretion in this case sub-section (6) of section 220 of the income-tax act, 1961, provides: 'where an assessee has presented an appeal under section 246 the income-tax officer may, in his discretion, and subject to such conditions as he may think fit to impose in the circumstances of the case, treat ..... appeal before the appellate assistant commissioner. in the meantime it appears that the income-tax officer had forwarded a certificate to the tax recovery officer and the tax recovery officer had issued a notice under rule 2 of schedule ii of the income-tax act, 1961. the petitioner had also prayed to the income-tax officer for grant of a stay of realisation until the disposal of the appeal ..... of the discretion given to him under sub-section (6) of section 220 of the income-tax act, 1961. the sub-section enjoins in a particular case, if the income-tax officer is otherwise satisfied, to keep the demand in abeyance 'so long as the appeal remains undisposed of'. the income-tax officer has discretion for good reasons not to grant any stay at all, he has .....

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Aug 13 1970 (HC)

Commissioner of Income-tax, West Bengal Ii Vs. Ukhara Estate Zamindari ...

Court : Kolkata

Decided on : Aug-13-1970

Reported in : AIR1971Cal125,[1971]82ITR103(Cal)

..... was also whether the amounts received by the assessee as salami for granting sub-leases constituted a trading receipt in its hands and the profits therefrom was assessable to tax under the indian income-tax act, 1922. the supreme court in that case came to the conclusion that the transactions of acquiring leases and granting sub-leases were in the nature of trading within ..... . the patna high court came to the conclusion that the lease was a transfer of a capital asset within the meaning of section 12-b of the income-tax act and the accounts arising therefrom were rightly taxed as capital gains. there again it was a case of zamindar getting a compensation on the acquisition of his land by the government and it has ..... support his argument that salami is always a capital receipt. it is not like rent or royalty. in board of agricultural income-tax, assam v. sm. sindhurani chaudhurani : air1957sc729 the supreme court had to consider a point under the assam agricultural income-tax act. kapur, j. in delivering the judgment of the supreme court in that case observed at p. 733:--'salami is thus not ..... the royalties paid to the assessee company by its sub-lessees were assessed by the revenue under section 12 of the income-tax act, 1922 and the fact that such royalties were not assessed as business profits under section 10 of that act, itself goes to suggest that the revenue authorities were of two minds on the point. the tribunal on this point applied .....

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Sep 18 1970 (HC)

Manabendra Nath Roy Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Sep-18-1970

Reported in : [1977]107ITR959(Cal)

..... be clear from the observations made at pages 269-270, the court expressed there no opinion on the interpretation of section 5(7c) of the indian income-tax act, 1922. 15. this disposes of the two calcutta decisions referred to in the arguments made from the bar. 16. the punjab and haryana high court ..... reopened......'13. the decision, however, made a distinction between the right under section 5(7c) of the indian income-tax act, 1922, and a further right under section 28(3) of the indian income-tax act, 1922. the court in that case held that although the right under section 5(7c) has been lost the ..... pal for the assessee as a ground for challenging this order under section 33b. even in the reference application under section 66(1) of the indian income-tax act, 1922, which the assessee made before the tribunal for stating the case, where in paragraph 4 he sets out as many as ten grounds from ..... september, 1963. therefore, on these facts dr. pal for the assessee challenges this order as being in violation of section 5(7c) of the indian income-tax act, 1922. his contention is that these proceedings should have been reopened by mr. palekar or the assessee should have been reheard before he made the ..... is that the order made by the commissioner under section 33b in this case is illegal and bad under section 5(7c) of the indian income-tax act, 1922, on the ground that one commissioner gave the notice to show cause under section 33b and thereafter when he ceased to have the jurisdiction .....

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Sep 28 1970 (HC)

Union Drug Co. Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Sep-28-1970

Reported in : [1974]93ITR91(Cal)

..... .5. we are, therefore, satisfied that the loss suffered by the assessee is one which comes within the terms of the requirements of section 10(2)(viii) of the indian income-tax act, 1922.6. in this view of the matter we answer the question referred to us in the affirmative. the commissioner will pay the costs of this reference.sabyasachi mukharji, j ..... for and submitted. the point that we have to decide in this reference is, therefore, one which is entirely of first impression.2. section 10(2)(viii) of the indian income-tax act, 1922, provides that an allowance shall be made 'in respect of animals which have been used for the purposes of the business, profession or vocation otherwise than as stock-in ..... , on the facts and in the circumstances of the case, the claim for loss of rs. 9,929 was allowable as deduction under section 10(2)(viii) of the indian income-tax act, 1922?'the facts on which this reference has been made are undisputed. the assesses admittedly used to manufacture serum as part of its business in the manufacture of medicines, drugs ..... said sum of rs. 9,929 under section 10(2)(viii) of the indian income-tax act, 1922, for the assessment of its income for the assessment year 1960-61. the income-tax officer, however, disallowed this deduction. on appeal the appellate assistant commissioner refused to interfere. on further appeal the income-tax appellate tribunal confirmed this disallowance. the assessee-company then made an application under section 66 .....

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