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Judgment Search Results Home > Cases Phrase: income tax act Court: kolkata Year: 1975 Page 3 of about 96 results (0.028 seconds)

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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Jul 23 1975 (HC)

Commissioner of Income-tax Vs. G.D. Kothari

Court : Kolkata

Decided on : Jul-23-1975

Reported in : [1977]110ITR691(Cal)

..... 'business, profession or vacation'. in the aforesaid view of the matter the tribunal allowed the appeal.5. thereafter, on the department's application under section 66(1) of the indian income-tax act, 1922, the question of law stated hereinafter has been referred to this court:' whether, on the facts and in the circumstances of the case the sums of rs. 61,150 ..... court further observed (pages 59, 60):'where a person carries on business by himself or in partnership with others, profits and gains earned by him are income liable to be taxed under section 10 of the indian income-tax act, 1922. share in the profits of a partnership received by a partner is ' profits and gains of business ' carried on by him and is on ..... as it was in the hands of the firm. he has further submitted that for the purpose of the income-tax act in order to assess the total income of the partners of a firm the income-tax officer is only to see the different sources of income of the firm. inasmuch as the charge is on the different sources and the computation is also made on ..... computed under section 10, and it is a matter of no moment that the total profits of the partnership were computed in the manner provided by section 10 of the income-tax act and allowances admissible to the partnership in the computation of the profits and gains were taken into account...........the receipt by the partner is business .....

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Dec 19 1975 (HC)

Premchand Sitanath Roy Vs. Addl. Commissioner of Income-tax and ors.

Court : Kolkata

Decided on : Dec-19-1975

Reported in : [1977]109ITR751(Cal)

..... an appellate authority. the question, however, in this case, is, that under proviso (iii) of sub-section (1) of section 139 of the income-tax act there is an obligation to charge interest from the assessee for late filing of the return. that pliability can only be exonerated in terms of sub-section ..... there the division bench of the bombay high court observed that whereas the power of revision was conferred upon the commissioner under section 33a of the indian income-tax act, 1922, against the order passed by any authority subordinate to him, the power of revision conferred upon the commissioner under section 33b was restricted to ..... 11 a.m. at my office at p-7, chowringhee sq., calcutta-l, and show cause why the proposed order under section 263 of the income-tax act, 1961, should not be made. if you do not wish to avail yourself of this opportunity of being heard in person or through your authorised ..... in the above-mentioned situations the right of appeal has been given to the assessee under clause (c) of section 246 of the income-tax act, 1961. whether the interest should be charged or not is not one of the orders in which the assessee has a right of appeal ..... mukharji, j.1. in this application under article 226 of the constitution, the petitioner challenges the notice under section 263 of the income-tax act, 1961, issued by the additional commissioner of income-tax, west bengal-ill, for the assessment year 1968-69. the assessee submitted his return for the assessment year 1968-69 on the .....

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Jul 18 1975 (HC)

Dabros Industrial Co. (P.) Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Jul-18-1975

Reported in : [1977]108ITR424(Cal)

..... in the previous years. the tribunal found that the correct profits could not be deduced from the books of the assessee. applying the proviso to section 13 of the indian income-tax act, 1922, and taking into consideration various facts profits were computed on estimate.20. the supreme court held that there was no error in the order of the tribunal. reference was ..... absence of the aforesaid, he held that it was not possible to arrive at the correct profits on the figure disclosed by the assessee. applying section 145(1) of the income-tax act, 1961, he made an addition of rs. 15,861 on estimate calculating gross profits at the rate of 20% of the total turnover. according to him this estimate was ..... that he must exercise his judgment after taking into consideration the relevant material. the view expressed by the privy council in the context of the income tax act was followed when a similar question arose under the sales tax act. a division bench of the calcutta high court in jagadish prosad pannalal v. member, board of revenue [1951] 2 stc 21 (cal) confirmed the ..... said clause is presumably borrowed from section 23(4) of the income-tax act. the said expression in the income-tax act was the subject of judicial scrutiny. the privy council in commissioner of income-tax v. laxminarain badridas [1937] 5 itr 170 has considered those words. therein it observed : 'he (the assessing authority) must not act dishonestly or vindictively or capriciously because he must exercise judgment in the .....

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Oct 03 1975 (HC)

Commissioner of Income-tax Vs. Dunlop Rubber Co. (i) Ltd.

Court : Kolkata

Decided on : Oct-03-1975

Reported in : [1977]107ITR182(Cal)

..... the previous year, the assessee for the first time claimed exemption or relief under sections 84 and 101 of the income-tax act, 1961, hereinafter called the act. the assessee wrote to the income-tax officer on may 24, 1966, as follows:'we file herewith our revised returns for the assessment year 1963-64, in ..... entitled in law to the deduction.'38. the decision of the court was made on construction of proviso (a) to section 10(2) of the indian income-tax act, 1922, which reads as follows:section 10(2)(vi): 'such profits or gains shall be computed after making the following allowances, namely :--......... provided that- ..... for the assessee that the question may be read : 'whether the assessee was entitled to the relief claimed under sections 84 and 101 of the income-tax act, 1961, in respect of the profits of its ambattur unit ?', meaning thereby whether the assessee was entitled to the particular relief claimed by it ..... right to get such relief is established by the assessee? in my view, he cannot.25. section 143 of the income-tax act says that the income-tax officer shall assess the total income of the assessee and shall determine the sum payable by him. therefore, what sum is payable by the assessee shall ..... whether, on the facts and in the circumstances of the case, the assessee was entitled to the relief claimed under sections 84 and 101 of the income-tax act, 1961, in respect of the profits of its ambattur unit ?' 12. on behalf of the revenue, mr. suhas sen submitted before us that the .....

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Jul 11 1975 (HC)

Commissioner of Income-tax Vs. R.H.N. Choudhuri and Co. Pvt. Ltd.

Court : Kolkata

Decided on : Jul-11-1975

Reported in : [1977]107ITR342(Cal)

..... satish churn law : [1969]71itr275(cal) .6. from this order of the tribunal the following questions of law have been referred for our consideration under section 256(1) of the income-tax act, 1961 :'1. whether, on the facts and in the circumstances of the case, the tribunal was right in holding that the assessment having been made under section 23(3) of ..... in the appeal before the tribunal. firstly, it was urged that the assessment was made under section 23(3) of the indian income-tax act, 1922 and, as such, penalty could not be levied under section 271(1)(c) of the income-tax act, 1961.5. it was also urged that simply because some additions were confirmed in the assessment proceedings, no penalty could be levied ..... the indian income-tax act, 1922, on 13th march, 1964, no penalty could be levied under section 271(1)(c) of the income-tax act, 1961 ? 2. whether, on the facts and in the circumstances of the case, merely because some addition was upheld by the ..... . the fact of additions would not show that the assessee had concealed particulars of his income or had deliberately furnished inaccurate particulars thereof. the tribunal held in favour .....

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Aug 12 1975 (HC)

R.L. Rajgharia Vs. Income-tax Officer and ors.

Court : Kolkata

Decided on : Aug-12-1975

Reported in : [1977]107ITR347(Cal)

..... the instant case before me the application under article 226 had been moved after the expiry of the time to make an application for reference under section 256 of the income-tax act, 1961. in the view, however, that i have taken as mentioned before, the order of the appellate tribunal dated the 15th of october, 1971, passed in i.t.a. no ..... or revenue loss. the question posed in this application under article 226 is whether the tribunal has jurisdiction and power to give the aforesaid direction. section 254(1) of the income-tax act, 1961, authorises the appellate tribunal after giving both the parties to the appeal an opportunity of being heard 'to pass such order thereon as it thinks fit'. therefore, the tribunal ..... subject-matter of the appeal.5. it was then contended on behalf of the revenue that the petitioner had an alternative remedy within the income-tax act, 1961, and as such was not entitled to any relief. under sub-section (4) of section 254 of the income-tax act, 1961, the order passed by the appellate tribunal was final and under section 256 of the said ..... the appellate tribunal in dealing with appeals were expressed in section 33(4) of the indian income-tax act, 1922 (which is in similar terms with section 254(4) of the present act) in the widest possible terms. . the word 'thereon' in section 33(4) of the old act, according to the supreme court, restricted the jurisdiction of the tribunal to the subject-matter of .....

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Feb 26 1975 (HC)

Commissioner of Income-tax Vs. Partabmull Rameshwar

Court : Kolkata

Decided on : Feb-26-1975

Reported in : 80CWN136,[1977]107ITR526(Cal)

..... and loss account. and yet it was held by the supreme court that those sums were the trading receipts of the assessee and were liable to be assessed under the income-tax act.15. the assessee before us and the assessee before the supreme court stand on the same footing. both the assessees had kept their respective realisations in separate accounts. but keeping ..... the assessee received a promissory note from his debtor in full discharge of all outstanding liabilities of the debtor. in 1943, the income-tax authorities sought to reassess, under section 34 of the indian income-tax act, 1922, those interests as his income of the assessment year 1939-40 and strong reliance was placed on behalf of the revenue authorities on the case of commissioner of ..... the trading receipt in a separate account is of no consequence for the purpose of the income-tax act. and this court was also of the same opinion in the case of debaprasanna mukherji v. commissioner of income-tax : [1951]20itr293(cal) . non-processing of a trading receipt in the profit and loss account cannot alter the nature and the ..... sum is a trading receipt in his hands and he cannot split it for the purpose of the income-tax act.14. it is well-established by the decision of the supreme court in the case of chowringhee sales bureau p. ltd. v. commissioner of income-tax : [1973]87itr542(sc) that a trading receipt does not cease to be a trading receipt by keeping it .....

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Aug 08 1975 (HC)

National Hotel and Dilkusha CabIn Vs. Income-tax Officer, a Ward and a ...

Court : Kolkata

Decided on : Aug-08-1975

Reported in : [1977]107ITR559(Cal)

..... 1961-62, and before any assessment had been made under section 139(4) of the income-tax act, 1961. after making an assessment, the income-tax officer levied penalty on the assessee under section 271(1)(a) of the income-tax act, 1961, for not having filed the return within time. the appellate assistant commissioner, on appeal, confirmed the order of penalty ..... were that the assessce-firm did not file its return for the assessment year 1961-62, within the time given by the notice under section 22(1) of the indian income-tax act, 1922, and had not asked for extension of time to file the return, but filed the return before the expiry of four years from the end of the assessment year ..... of time granted and where the assessee had not filed any return before the making of the assessment, interest as contemplated under sub-section (1) of section 139 of the income-tax act, 1961, cannot be charged. the position, however, is different since 1st of april, 1972. i am fortified in this view by the observations of the division bench of the andhra ..... possession he found that no return had been filed for the assessment years 1967-68 and 1968-69. the receiver had received a notice under section 139(2) of the income-tax act, 1961. as he was unaware of the true position he applied for time to enable him to deal with the notice. the receiver, thereafter, found that no return had been .....

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Jul 22 1975 (HC)

Commissioner of Income-tax Vs. Clive Row Investment Holding Co. Ltd.

Court : Kolkata

Decided on : Jul-22-1975

Reported in : [1977]107ITR600(Cal)

..... by the assessee. 5. there was another dispute relating to the quantum of relief which was to be granted to the assessee under section 49b(b)(ii) of the indian income-tax act, 1922, in the assessment year 1961-62. the assessee, as a shareholder, has received rs. 5,07,503 as dividend (agricultural) in that year. the gross ..... , on the facts and in the circumstances of the case, the tribunal was right in holding that the assessee was entitled to the relief under section 49b of the indian income-tax act, 1922, on the total amount of rs. 5,07,503 as claimed by it and not on rs. 4,54,356 as computed by the ..... investment company periodically varies its investment does not necessarily mean that the profits resulting from such variation is taxable under the income-tax act', as laid down by the supreme court in the case of dalhousie investment trust co. ltd. v. commissioner of income-tax : [1967]66itr473(sc) . 12. it is also the submission of mr. roy that, as the revenue has not challenged the ..... the amount of refund, if any, allowed to him by the state government; or (b) where the shareholder- (i) is not a company, the amount of income-tax (but not super-tax) payable by him under this act; and (ii) is a company, twenty per cent.; on that portion of the dividend which is attributable to the profits of the company assessed to agricultural .....

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