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Judgment Search Results Home > Cases Phrase: income tax act Court: kolkata Year: 1974 Page 1 of about 84 results (0.032 seconds)

Aug 22 1974 (HC)

British Paints India Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Aug-22-1974

Reported in : [1978]111ITR53(Cal)

..... law arose out of its order. the supreme court further observed that in cases involving the applicability of the proviso to section 13 of the indian income-tax, act, 1922, the question to be determined by the. income-tax officer was a question of fact, namely, whether the profits and gains could or could not be properly deduced from the method of accounting regularly adopted ..... profits. it is for this purpose that in the case of commissioner of income-tax v. krishnaswami mudaliar : [1964]53itr122(sc) , the supreme court observed that the income-tax officer was entitled to apply the proviso to section 13 of the indian income-tax act, 1922, which is similar to section 145(1) of the income-tax act, 1961, with which we are concerned in this case, not arbitrarily but ..... . the tribunal in the aforesaid facts and circumstances of the case has referred to this court the following question under section 256(1) of the income-tax act, 1961 : 'whether, on the facts and in the circumstances of the case, the tribunal was justified in rejecting the method of valuation of the goods-in-process and the finished ..... the revenue authorities were not entitled to resort to the provisions of the proviso to section 13 of the indian income-tax act, 1922. the same principles were reiterated by the supreme court in the case of p. m. mohammad meerakhan v. commissioner of income-tax : [1969]73itr735(sc) . in this connection reference is necessary to a decision of the judicial committee in the case .....

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Jun 26 1974 (HC)

Biju Patnaik Vs. Income-tax Officer

Court : Kolkata

Decided on : Jun-26-1974

Reported in : [1976]102ITR96(Cal)

..... to be noted that in the instant case the reopening could be done only on the basis of the provisions contained in section 147(a) of the income-tax act, 1961, and it is common case that section 147(b) will have no application as any notice under section 147(b) will clearly be out of ..... not the sufficiency of the reasons for the belief. again, the expression '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 ..... and they have confessed that the loans to the assessee were not genuine loans constitutes sufficient material to enable the income-tax officer to exercise his power and jurisdiction under section 147(a) of the income-tax act. mr. pal has submitted that this court is not concerned really with the adequacy or sufficiency of the reasons ..... instant case is whether the said notice dated 26th february, 1966, under section 148 of the income-tax act, 1961, for reopening the assessment of the assessee for the year 1958-59 was lawfully and validly issued by the income-tax officer.4. the case of the assessee in the petition mainly is that the said notice ..... a.n. sen, j.1. on the 26th of february, 1966, a notice under section 148 of the income-tax act, 1961, was issued by the income-tax officer, central circle, cuttack, to biju patnaik for reopening his assessment for the year 1958-59 and biju patnaik moved this .....

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Dec 03 1974 (HC)

Rai Kumar Srimal Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Dec-03-1974

Reported in : [1976]102ITR525(Cal)

..... the power or jurisdiction of the appellate assistant commissioner is concerned, it is provided in sections 250 and 251 of the income-tax act, 1961, which is similar to section 31 of the indian income-tax act, 1922.8. it is true, as was contended by counsel for the assessee, that the appellate assistant commissioner has ..... we would accordingly reverse the order of the appellate assistant commissioner and restore that of the income-tax officer.'4. in the aforesaid circumstances, the following questions have been referred to this court under section 256(1) of the income-tax act, 1961:'(1) whether, on the facts and in the circumstances of the case, the ..... sabyasachi mukharji, j.1. in this reference under section 256(1) of the income-tax act, 1961, we are concerned with the jurisdiction and exercise of the discretion by the appellate assistant commissioner. in order to ..... , it was submitted on behalf of the revenue that the appellate assistant commissioner was really directing a new source to be taxed or a direction on the income-tax officer to tax the new sources of the assessee. what indeed the appellate assistant commissioner directed is to find out whether the explanation given ..... been invested in the shares. the assessee duly made a categorical statement regarding cash being kept in his chests as per his statement before the income-tax officer. the tribunal held that the appellate assistant commissioner had overlooked this aspect of the matter and simply accepted a new fact which, though .....

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Sep 11 1974 (HC)

Commissioner of Income-tax Vs. Belgachi Tea Co. Ltd.

Court : Kolkata

Decided on : Sep-11-1974

Reported in : [1975]99ITR99(Cal)

..... the tribunal reached the conclusion that the disallowance of rs. 12,000 was not justified and, therefore, directed its deletion. in the premises, under section 256(1) of the income-tax act, 1961, the following question has been referred to this court:' whether, on the facts and in the circumstances of the case, the tribunal was right in holding that the expenditure ..... of rs. 12,000 which had been disallowed by the income-tax officer and the appellate assistant commissioner out of repairs account was allowable as revenue expenditure ?'2. the principles for determining, whether a particular expenditure is revenue expenditure or capital expenditure ..... justified in treating the sum of rs. 12,000 as capital expenditure. the appellate assistant commissioner, however, did not accept this contention. he upheld the disallowance made by the income-tax officer. the assessee preferred an appeal before the tribunal. the tribunal heard the appeal along with two appeals for the assessment years 1962-63 and 1963-64. it was ..... immediately preceding assessment year the assessee had claimed an expenditure in respect of fencing to the tune of rs. 4,630. after looking into the details of the expenditure, the income-tax officer was of the view that new fencing lines were fixed with new pillars, and, therefore, a major portion of the expenditure was capital expenditure. he, therefore, disallowed on .....

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Dec 17 1974 (HC)

Commissioner of Income-tax Vs. Birla Brothers Private Ltd.

Court : Kolkata

Decided on : Dec-17-1974

Reported in : [1987]165ITR588(Cal)

..... the said agreement. the pakistan supreme court has given a go-by to the said agreement recorded in the minutes aforesaid. under the provisions of section 49aa of the indian income-tax act, 1922, there is the agreement for avoidance of double taxation between india and pakistan. by virtue of articles iv and ix of the said agreement read with schedule 9 to ..... in the assessee's hands. the tribunal then deleted this amount added in all the assessment years in question.3. in the aforesaid circumstances, under section 256(1) of the income-tax act, 1961, the following question has been referred to this court:' whether, on the facts and in the circumstances of the case, the tribunal was right in holding that the ..... sayasachi mukharji, j.1. we are concerned with the assessment years 1960-61, 1961-62 and 1962-63, in this reference under section 256(1) of the income-tax act, 1961. the assessee is a private limited company. one of the businesses of the assessee-company is that of managing several other companies situate both in india and pakistan and ..... assessment years 1961-62 and 1962-63 made an order under section 154 of the income-tax act, 1961, and included 50% of the managing agency commission from the aforesaid mills in the assessee's income.2. the assessee appealed to the appellate assistant commissioner against the orders of the income-tax officer. the appellate assistant commissioner held that since all the directors of the assessee .....

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Dec 13 1974 (HC)

Commissioner of Income-tax Vs. Prem Chand Jute Mills Ltd.

Court : Kolkata

Decided on : Dec-13-1974

Reported in : [1978]114ITR769(Cal)

..... theopinion that in view of the continued period of unprofitable working, the directors had finally decided its closure and the lease rent should be assessed under section 56 of the income-tax act, 1961. he referred to the complaint of the directors to the ministry of commerce and observed that the uneconomic running of the mill coupled with absolute and unworkable machinery had ..... . the tribunal, therefore, dismissed the appeal on behalf of the revenue and the appeal of the assessee was allowed.4. in the premises, under section 256(1) of the income-tax act, 1961, the following two questions have been referred to this court:'(1). whether, on the facts and in the circumstances of the case, and on a proper construction of the ..... relevant deed of lease, the tribunal was right in holding that the income of the assessee was assessable under section 28 of the income-tax act, 1961, and not under section 56 thereof ? (2) if the answer to question (1) is in the negative, then whether the tribunal was right in ..... . whether the amount realised as a result of leasing out of the mill, premchand jute mills ltd., was income assessable under section 28 of the income-tax act, 1961?', is the main question that falls for determination in this reference under section 256(1) of the income-tax act, 1961. we are concerned with the assessment for the year 1962-63. the relevant previous year ended on .....

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Dec 05 1974 (HC)

Rakhal Chandra Banerjee Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Dec-05-1974

Reported in : [1978]113ITR419(Cal)

..... sabyasachi mukharji, j. 1. in this reference under section 256(1) of the income-tax act, 1961, we are concerned with the assessment years 1964-65 and 1965-66 for which the relevant accounting years are the years ending on 31st march, ..... the assessment year 1964-65 and rs. 4,43,982 for the assessment year 1965-66. as the assessee did not maintain any books of account the income-tax officer applied net profit rate of 12.6 per cent. on the gross bill amounts received by the assessee in each of the two years under consideration and ..... gounder and k.s. krishnaraju : [1973]92itr90(mad) and the decision in the case of m. p. alexander & co. v. commissioner of income-tax : [1973]92itr92(ker) (appendix). facts of those cases were entirely different. in this connection, reliance may be placed in support of our conclusion on the decision ..... of the andhra pradesh high court in the case of v.d. rajarathanam v. commissioner of income-tax : [1968]68itr19(ap) and also on the decision of this court in the case of gopendra krishna saha v. commissioner of income-tax in i.t. ref. no. 184 of 1969, judgment delivered on 27th september, 1974 (since reported in ..... indulging in any surmise or acting without any proper evidence. furthermore, we may point out that the question as referred to this court does not really challenge the findings of the tribunal on this basis. counsel for the assessee drew our attention to the decision in the case of commissioner of income-tax v. k.s. guruswami .....

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Sep 27 1974 (HC)

Gopendra Krishna Saha Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Sep-27-1974

Reported in : [1978]113ITR421(Cal)

..... had not been actually able to satisfy the terms of the contract and where the estimates were to be based by applying the provisions to section 13 of the indian income-tax act, 1922, it cannot be said, in our opinion, that the tribunal was not justified in upholding the decision of the appellate assistant commissioner in the manner as it did. in ..... receipts from the government. in that case, however, there was no question of estimating a particular rate of profit earned by applying the proviso to section 13 of the indian income-tax act, 1922. in the instant case, the contractor had not been able to satisfy the authorities below as to what were the terms of the contract with the contractee and in ..... gross job value of the bills.6. in the aforesaid circumstances, the two questions, mentioned herein-above, have been referred to this court under section 66(2) of the indian income-tax act, 1922.7. counsel for the assessee contended before us that in a case where the contractor had to quote at a particular rate and not beyond that and that rate ..... method of accounting followed by the assessee on completed job basis was in accordance with the recognised principles of accounting and, therefore, the proviso to section 13 of the indian income-tax act, 1922, was not applicable. the tribunal negatived this contention. in view of the answers we have already given on this aspect of the matter, we need not discuss in detail .....

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Nov 27 1974 (HC)

Steel Containers Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Nov-27-1974

Reported in : [1978]112ITR995(Cal)

..... referred the following questions at the instance of the assessee :' (1) in the appeal by the assessee against the disallowance sustained by the appellate assistant commissioner of income-tax under section 40(c) of the income-tax act, 1961, and without a cross-appeal or cross-objections by the department, and after finding that section 40(c) was not applicable was it open to the ..... business. it was, secondly, urged that the question of reasonableness of expenditure or whether the expenditure was excessive or not was not for consideration under section 37 of the income-tax act, 1961. it was contended further that it was possible if the tribunal came to the conclusion that the money was not paid or that the money had not been spent ..... before the appellate tribunal claimed in the alternative that the amount laid out was in any event expenditure for current repairs allowable under section 10(2)(v) of the indian income-tax act, 1922. the tribunal inspected the factory, studied the working of the machinery and considered the literature of the manufacturers and held that though the development rebate was not admissible ..... controversy by the first question placed before us. counsel for the assessee contended that inasmuch as the appellate assistant commissioner had only relied upon section 40(c)(i) of the income-tax act, 1961, the only question open before the appellate tribunal was whether any part of the allowance was to be allowed or disallowed under the said section ; whether the allowance .....

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Oct 11 1974 (HC)

imperial Chemical Industries Ltd. Vs. Income-tax Officer, 'B' Ward and ...

Court : Kolkata

Decided on : Oct-11-1974

Reported in : [1978]111ITR614(Cal)

..... approved and affirmed by the supreme court when the said matter reached there through this high court in the reference proceeding under section 256 of the income-tax act, 1961. judgment of the supreme court dated 20th of january, 1972, is at pages 425-444 of the paper book and is also reported ..... been finally concluded by the supreme court affirming the tribunal's finding which is the fact finding authority in respect of section 52 of the income-tax act proceeding against the i.c.i. (india) ltd. would appear from the relevant portions of the order of the appellate tribunal, copy of ..... being the identical figure of the first notice. thereafter, on the 20th of may, 1970, the present impugned notice under section 148 of the income-tax act, 1961, was issued to the appellant and, after several correspondence regarding disclosing the reasons of such reopening which the respondents refused to do, on ..... on the appellant. then suddenly on the 7th may, 1970, the respondent no. 1, informed the appellant that the proceedings under section 148 of the income-tax act, 1968, for the assessment year 1962-63, consequent to the said 1st notice dated the 23rd of september, 1968, were dropped. it appears that immediately ..... for the assessment year 1962-63 of the appellant on the ground that the conditions precedent to take action under section 147 of the income-tax act, 1961, are not satisfied in this particular case and the notice under section 148 was without jurisdiction and ought to have been withdrawn .....

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