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Judgment Search Results Home > Cases Phrase: income tax act Court: kolkata Year: 1975 Page 1 of about 96 results (0.059 seconds)

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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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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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 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 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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Dec 18 1975 (HC)

Kashmir Agencies Pvt. Ltd. Vs. Income-tax Officer and ors.

Court : Kolkata

Decided on : Dec-18-1975

Reported in : [1978]112ITR563(Cal)

..... . in the aforesaid view of the matter and in view of the reasons that have been disclosed now for initiating the proceeding under clause (a) of section 147 of the income-tax act, 1961, it must be held that the conditions precedent for issuance of the notice were not fulfilled in the instant case. the impugned notice dated the 29th of july, 1970 ..... , j.1. the assessments for the assessment years 1964-65 and 1965-66, made under the provisions of the income-tax act, 1961, were sought to be reopened by the notice dated the 29th of july, 1970, issued under section 148 of the income-tax act, 1961. the said notice is the subject-matter of challenge in this application under article 226 of the constitution. the ..... the agreement had accrued to the petitioner. on the question whether, even if there was accrual of income on mercantile basis under the provisions of the income-tax act for computing the real income, the fact that in the subsequent year the assessee had given up the income in certain circumstances would be rele- vant factors or not in determining the question of liability of the ..... petitioner is a company. during the material times, the petitioner was acting as the managing agent of messrs. kashmir ceramics ltd. the petitioner had entered into .....

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Jun 19 1975 (HC)

Reform Flour Mills (P.) Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Jun-19-1975

Reported in : [1978]111ITR852(Cal)

..... 2) cannot be asked for.38. from the various decisions of the supreme court noted earlier it appears that the principles applicable to cases under section 23a of the indian income-tax act, 1922, are well settled and the question now is one of application of those well-settled principles to the facts and circumstances of a particular case. in the light of ..... from previous years must be taken into account in determining the availability of surplus money for purposes of declaring dividends under section 23a of the indian income-tax act, 1922.25. in the case of commissioner of income-tax v. jubilee mills ltd. : [1968]68itr630(sc) facts were :'the respondent, which was held to be a company in which members of the public were ..... case, in considering whether a larger amount than that declared by the appellant-company, a transport operator, to which he had applied section 23a of the income-tax act, could be distributed by way of dividends, the income-tax officer added to the profits disclosed by the books of the company, amounts of luggage collections suppressed as well as expenditure on spare parts disallowed as ..... , we hold that the assessee-company failed to declare the statutory dividend as required by law and, therefore, made itself amenable to the provisions of section 23a of the indian income-tax act, 1922.' in the aforesaid view of the matter, the tribunal dismissed the assessee's appeal and confirmed the order of the appellate assistant commissioner. the assessee, not being satisfied .....

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Jun 03 1975 (HC)

Commissioner of Income-tax Vs. Ramsevak Paul and ors.

Court : Kolkata

Decided on : Jun-03-1975

Reported in : [1977]110ITR527(Cal)

..... assessment was completed by the taxofficer on the basis that the assessee had 1/3rd share in the mill. thereafter,the proceedings under section 34(1)(a) of the income-tax act, 1922, werestarted by the tax officer on the basis of the decision of the privy council.it was contended, on behalf of the assessee, that the proceeding under section 34 of the ..... initiated to include property income that had escaped assessment '2. the statement of the case relates to the assessment years 1959-60 and ..... in this reference under section 256(1) of the income-tax act, 1961, we are concerned with the following question of law :' whether, on the facts and in the circumstances of the case and on a proper construction of sections 147 and 148 of the income-tax act, 1961, the income-tax officer was entitled to recompute the business income of the assessee, the reassessment proceedings having been validly ..... dr. pal, but the above observations of the supreme court in the case of v. jaganmohan rao v. commissioner of income-tax : [1970]75itr373(sc) are binding on us. it has been submitted by dr. pal that though the tax officer acting under section 147 of the act can tax the entire income that has escaped assessment, yet he has no power to recompute the business .....

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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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