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Judgment Search Results Home > Cases Phrase: income tax act Court: kolkata Year: 1975 Page 1 of about 96 results (0.076 seconds)

Aug 07 1975 (HC)

National Cement, Mines and Industries Ltd. Vs. Commissioner of Income- ...

Court : Kolkata

Decided on : Aug-07-1975

Reported in : [1977]108ITR64(Cal)

..... deb j. 1. this is a reference tinder section 66(2) of the income-tax act, 1961. it relates to the assessment year 1955-56, the relevant previous year ending on may 31, 1954.2. the assessee was carrying on business in ..... a capital loss.9. mr. sengupta has also relied on the decision of the supreme court in the case of r. b. seth moolchand suganchand v. commissioner of income-tax : [1972]86itr647(sc) . at page 651 of the report, it has been observed by the supreme court that in the case of a mining lease the 'empirical ..... . hence, reliance on this decision was misplaced by him.7. the supreme court says this in the case of assam bengal cement co. ltd. v. commissioner of income-tax : [1955]27itr34(sc) :'in cases where the expenditure is made for the initial outlay or for extension of a business or a substantial replacement of the equipment, ..... for commercial purpose', and, hence, the above observation of the supreme court overrules his contention. he has also cited the case of india cements ltd. v. commissioner of income-tax : [1966]60itr52(sc) , in which certain sums were spent by the assessee in connection with the borrowing of a loan in order to carry on its business and ..... this contention he has relied on the following observation of the supreme court in the case of bombay steam navigation co. (1953) (p.) ltd. v. commissioner of income-tax : [1965]56itr52(sc) :'if the outgoing or expenditure is so related to the carrying on or conduct of the business, that it may be regarded as an integral .....

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Sep 30 1975 (HC)

Commissioner of Income-tax Vs. Narayan Chandra Dey

Court : Kolkata

Decided on : Sep-30-1975

Reported in : [1977]108ITR515(Cal)

..... s.c. deb, j. 1. this is a reference under section 256(1) of the income-tax act, 1961. the statement of the case relates to the assessment year 1961-62, the relevant previous year being 1367 b.s. one gour hari ..... property has been partitioned between the members of the family. therefore, the above question is covered by the decision of this court in the case of commissioner of income-tax v. balai chandra paul : [1976]105itr666(cal) in which all the earlier decisions of this court have been discussed and followed. 6. in this view of ..... appeal before the appellate assistant commissioner and relied on the decision of this court in the case of biswa rajan sarvadhikari v. income-tax officer : [1963]47itr927(cal) . it was contended on behalf of the assessee that in view of the said decision there could be no undivided hindu family ..... the status of a hindu undivided family and in course of such assessment as it was contended on its behalf that the family was divided, the income-tax officer issued notices to the members and they submitted that there had been a complete partition of the joint family and the property had been partitioned by ..... of their above contention they produced a deed of partition dated march 21, 1960, before the income-tax officer who has,however, held that the said property was not partitioned by metes and bounds and accordingly he assessed the income of this property in the hands of the hindu undivided family. 3. the assessee preferred an .....

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Dec 11 1975 (HC)

Lakshmi Chand Swaika Vs. Income-tax Officer, b Ward and ors.

Court : Kolkata

Decided on : Dec-11-1975

Reported in : [1978]112ITR212(Cal)

..... properly addressed. in this connection, reliance was placed on sub-section (2) of section 283 of the income-tax act, 1961, as well as on clause (a) of subsection (2) of section 282 of the said act. but, in my opinion, the said pro-visioi s are permissive provisions and a notice in the case ..... 1973, under section 148 of the income-tax act, 1961.' the impugned notice relates to the assessment year 1964-65. two contentions were urged in support of this application. it was contended that at the time of the issuance of the notice the firm was dissolved and the income-tax department had knowledge of that fact. ..... of r.a. goel has also been annexed. on these materials, in my opinion, it cannot be said that there were no materials for the income-tax officer to believe that there was failure or omission on the part of the assessee to disclose fully or truly all materials which were relevant facts ..... assessment. my attention was drawn to some of the decisions dealing with this question. whether in a particular case there were materials for the income-tax officer to form the belief that there was omission or failure on the part of the assessee to disclose fully or truly all material facts ..... of a dissolved firm can be addressed to the firm itself. for this proposition reliance may be placed on the observations in the cases of ramnivas hanumanbux somani v. s. venkataraman, income-tax officer : .....

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Jul 04 1975 (HC)

Commissioner of Income-tax (Central) Vs. Chrestian Mica Industries Ltd ...

Court : Kolkata

Decided on : Jul-04-1975

Reported in : [1977]109ITR324(Cal)

..... deb, j.1. the following questions of law are involved in this reference under section 66(1) of the indian income-tax act, 1922 :'1. whether, on the facts and in the circumstances of the case, the tribunal was right in holding that the sale ..... profit was earnedby the assessee as a result of those transfers by following the decisions inthe cases of rogers & co. v. commissianer of income-tax reported in : [1958]34itr336(bom) and commissioner of income-tax v. mugneeram bangur &co.; reported in : [1963]47itr565(cal) . but these two decisions are nolonger good law on the question involved ..... merely argues the case on the facts and the materials already on record. it has been held by the supreme court in the case of commissioner of income-tax v. calcutta agency ltd. reported in : [1951]19itr191(sc) of the report, that the submission of a counsel is not an evidence of a ..... by the assessee, but on second appeal the appellate tribunal deleted those additions. the relevant portion of the order of the tribunal is as follows:'the income-tax officer has gone on to discuss a lot of materials whichhas hardly any bearing on the point in issue before us. the company wasformed on 13th ..... before us, for in the case of commissioner of income-tax v. b. m. kharwar reported in : [1969]72itr603(sc) , the supreme court has disapproved these two decisions and has heldthat on realisation-sale the excess over .....

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Nov 27 1975 (HC)

Cachar Plywood Ltd. Vs. Income-tax Officer, a Ward and ors.

Court : Kolkata

Decided on : Nov-27-1975

Reported in : [1977]109ITR470(Cal)

..... ; secondly, it was submitted that no reason had been recorded for the transfer and, thirdly, it was urged that the impugned order was passed mala fide. section 127 of the income-tax act, 1961, provides as follows :'127. power to transfer cases.--(1) the commissioner may, after giving the assessee a reasonable opportunity of being heard in the matter, wherever it is possible ..... the original acknowledgment receipt bearing the rubber stamp of the petitioner was produced before me. i am not, therefore, satisfied that such opportunity as contemplated by section 127 of the income-tax act, 1961, was not given to the assessee. what is more, in this case, a letter was written (torn) signed by the principal officer on behalf (torn) assessee dated the 21st ..... of november (torn) to the following effect:'to the under secretary, central board of direct taxes, govt. of india, new delhi. ref : your notice under sec. (torn) 127(1) of the income-tax act, 1961, issued under (torn) file no. 185/141/72-it(ai) (torn). dear sir, with reference to your notice quoted (torn) above ..... , we beg to inform you that we have no objection to the transfer of our file from the income-taxofficer, 'a' ward, karimganj, to the income-tax officer, calcutta, as proposed by you, yours .....

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Aug 18 1975 (HC)

Narayandas Paramananddas Vs. Income-tax Officer, J-ward and ors.

Court : Kolkata

Decided on : Aug-18-1975

Reported in : [1977]107ITR79(Cal)

..... , the impugned notice must be quashed and the rule must be made absolute. 10. in the premises, the impugned notice issued on 30th march, 1972, under section 148 of the income-tax act, 1961, is hereby quashed and the respondents are restrained from taking any proceeding in respect thereof. if any assessment has already been made pursuant to the impugned notice, the same ..... for the aforesaid year was completed on 30th march, 1972(?). by a notice dated 30th march, 1972, the said assessment is sought to be reopened under section 148 of the income-tax act, 1961. the said attempt is under challenge in this application under article 226 of the constitution. 2. the petitioner which is a partnership firm states that the firm received a ..... assessment. 5. the petition under article 226 of the constitution was filed on the ground that there was no material for the income-tax officer to form the belief for reassessing the income of the petitioner under section 148 of the income-tax act as mentioned hereinbefore. the reopening, in view of the time lag, must have been under clause (a) of section 147 of the ..... income-tax act, 1961. there must be materials from which the income-tax officer could form the belief that there was omission or failure on the part of the assessee to disclose truly or fully material facts, as a result of which failure .....

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Jul 10 1975 (HC)

Commissioner of Income-tax Vs. Lalit Mohan Deb

Court : Kolkata

Decided on : Jul-10-1975

Reported in : [1977]107ITR84(Cal)

..... satisfactory evidence was produced to support the transactions of the assessee. a penalty was also imposed under section 28(1)(c) of the indian income-tax act, 1922. the appellate tribunal on the final appeal against the order of penalty held that the department had failed to establish that the respondent ..... the said creditors could have been in a position to advance the amounts and that none of them were assessed to income-tax. he started proceedings under section 34 of the indian income-tax act, 1922, in the course of which the three creditors appeared before him and were examined. they admitted having advanced the ..... shortly stated as follows :assessment for the assessment year 1955-56 was made under section 23(3) of the indian income-tax act, 1922. thereafter, it came to the knowledge of the income-tax officer that the assessee had invested a sum of rs. 39, 102 for construction of a house. the assessee contended ..... the creditors and treated the said amount of rs. 39,302 as the assessee's income from undisclosed sources.4. the income-tax officer also started proceedings for imposition of penalty under section 28(1)(c) of the indian income-tax act, 1922, and imposed a penalty of rs. 15,000. he relied on the ..... furnished deliberately inaccurate particulars. the high court of mysore rejected the application of the revenue under section 66(2) of the indian income-tax act, 1922. from such order of rejection the matter came up on special leave before the supreme court. the supreme court held .....

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Jul 17 1975 (HC)

Commissioner of Income-tax (Central) Vs. Assam Oil Company Ltd.

Court : Kolkata

Decided on : Jul-17-1975

Reported in : [1977]107ITR261(Cal)

..... was whether the amounts paid by the assessee to the jagirdar and the government each year were revenue expenditure allowable under the section of the hyderabad income-tax act corresponding to section 10(2)(xv) of the indian income-tax act, 1922. 23. in the majority judgment the supreme court noted and considered the following propositions on the question laid down by the earlier authorities. ..... the assessee for deduction of the relevant amount as revenue expenditure was proper and had been rightly allowed by the income-tax officer. 11. from this order of the tribunal the following question has been referred under section 256(2) of the income-tax act, 1961 : 'whether, on the facts and in the circumstances of the case, and an a proper construction of ..... assessee deduction of the said sum of rs. 10,07,284 as revenue expenditure. 9. the commissioner of income-tax considered that such allowance of deduction was prejudicial to the interests of revenue arid took proceedings under section 263(1) of the income-tax act, 1961. after hearing the parties the commissioner came to the conclusion that the said amount paid on account ..... allowed as deduction. the commissioner came to this conclusion by following the decision of the rajasthan high court in the case of gotan lime syndicate . the commissioner directed the income-tax officer to revise the assessment by disallowing the said sum. 10. the assessee preferred an appeal to the tribunal from the order of the commissioner dated the 14th october, .....

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Jul 23 1975 (HC)

Commissioner of Income-tax Vs. North Dhemo Coal Company Ltd.

Court : Kolkata

Decided on : Jul-23-1975

Reported in : [1977]106ITR592(Cal)

..... 1) whether, on the facts and circumstances of this case, the assessee was entitled to full depreciation allowance under section 10(2)(vi) of the indian income-tax act, 1922, read with rule 8 of the rules thereto for the assessment years 1958-59 and 1959-60 ? (2) whether, on the facts and in ..... the assessee to carry out protective works for the prevention of recurrence of such disaster and the assessee had to carry out the same.4. the income-tax officer found that the said expenditure was of a capital nature and disallowed the same in the computation of the revenue expenditure.5. on appeal ..... principles are laid down.11. lastly, mr. sen cited the decision of the supreme court in the case of sitalpur sugar works ltd. v. commissioner of income-tax : [1963]49itr160(sc) . in this case the expenditure was incurred in dismantling and refitting an existing plant at a more convenient site. the supreme court ..... in the nature of the maintenance of the existing capital asset.14. the next decision cited was of the supreme court in the case of commissioner of income-tax v. kirkend coal co. : [1970]77itr530(sc) . here, the question arose whether the amounts spent by the assessee carrying on the business of ..... expenditure incurred for stowing operations was a revenue expenditure.15. a decision of this court in the case of kalyanji mavji & co. v. commissioner of income-tax : [1973]87itr228(cal) was also cited. the facts in this case were that a colliery owned by the assessee was in the occupation of the .....

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Dec 19 1975 (HC)

Appejay Steel Works Private Ltd. Vs. Inspecting Assistant Commissioner ...

Court : Kolkata

Decided on : Dec-19-1975

Reported in : [1976]103ITR806(Cal)

..... february, 1971, issued under section 274(2) read with section 271 of the income-tax act, 1961, for the assessment year 1964-65 by the inspecting assistant commissioner of income-tax (central), range-i, calcutta. in the impugned notice the inspecting assistant commissioner of income-tax (central), range-i, has stated as follows:'whereas the income-tax officer, central circle-v, calcutta, has under sub-section (2) of section ..... 274 of the income-tax act, 1961, referred your case to me in connection with the penalty ..... year 1964-65 it appears to me that you have concealed the particulars of your income or deliberately furnished inaccurate particulars of such income and whereas the penalty proceedings have to be referred to the inspecting assistant commissioner of income-tax. according to subsection (2) of section 274 of the income-tax act, 1961, you are hereby informed that the case for levy of a penalty under .....

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