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Judgment Search Results Home > Cases Phrase: income tax act Court: kolkata Year: 1976 Page 2 of about 98 results (0.033 seconds)

Dec 03 1976 (HC)

income-tax Officer, 'i' Ward and Ors. Vs. B.N. Bhattacharya

Court : Kolkata

Decided on : Dec-03-1976

Reported in : 81CWN351,[1978]112ITR423(Cal)

..... that view of the matter, we are of the opinion that the respondent has failed to establish that the notices under section 34(1)(a) of the income-tax act for the assessment years 1940-41 to 1950-51 had not been served in accordance with law.7. in the premises, this appeal must be allowed and ..... years.4. before us, in this appeal the propriety of that conclusion of the learned trial judge is under challenge. under section 63(1) of the indian income-tax act, 1922, notices are required to be served as if these were summons issued by a court under the code of civil procedure. we, have, therefore, to ..... respondent did not file any return and the assessments for the said years were made at nil under section 23(4) of the indian income-tax act, 1922. for the assessment year 1944-45 and subsequent years up to 1948-49, no action had been taken for the respondent's assessment under the ..... were the notices under section 34(1)(a) of the indian income-tax act, 1922, for the assessment years 1940-41 to 1950-51, 1952-53 and 1953-54.2. it is the case of the revenue that the petitioner-respondent was assessed to income-tax for the assessment year 1939-40 on the basis of the return ..... act. for the assessment year 1949-50, the respondent's assessment file was closed on the basis of the report submitted by an inspector of income-tax regarding the financial position of the respondent and, thereafter, no further action was taken .....

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Mar 09 1976 (HC)

Jeewanlal (1929) Ltd. Vs. Income-tax Officer

Court : Kolkata

Decided on : Mar-09-1976

Reported in : [1978]112ITR906(Cal)

..... him that the assessee had furnished under sub-section (2)/(3) of section 18a of the indian income-tax act, 1922, or under section 212 of the income-tax act, 1961, estimates of advance tax payable by the assessee for the assessment year 1970-71, which the assessee knew or had reasons to believe to be untrue. the assessee was ..... government of india. the said two receipts were shown in part d of the return as being not taxable. on the 9th january, 1973, the income-tax ofiicer issued the impugned notice under section 273 of the income-tax act, and on the 10th january, 1973, assessment for the assessment year 1970-71 was completed. thereupon, the petitioner moved thisapplication on the 12th february, 1973 ..... asked to show cause why penalty should not be imposed upon the assessee under the income-tax act, 1961. it appeared that the petitioner had filed its estimate of advance tax under section 212 of the income-tax act, 1961, on the 9th june, 1969. the income according to the said estimate was shown as rs. 10,00,000. on 6th december, 1969, the assessee ..... sabyasachi mukharji, j. 1. on the 9th january, 1973, a notice was issued under section 273 of the income-tax act, 1961, by the income-tax officer, j. ward, companies district ii, calcutta, whereby he informed the petitioner that in the course of assessment proceedings before him for the assessment year 1970-71, it appeared to .....

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Nov 17 1976 (HC)

Sun Engineering Works (P.) Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Nov-17-1976

Reported in : [1978]111ITR166(Cal)

..... had one-third share in the mill. thereafter, on the basis of the decision of the privy council, proceedings under section 34 of the indian income-tax act, 1922, were initiated. it was contended on behalf of the assessee that the proceedings under section 34 were invalid but the supreme court overruled such contention ..... in this case the bombay high court held that in reassessment proceedings taken under section 34(1)(a) of the indian income-tax act, 1922, on the ground that loss had been over-estimated, the income-tax officer had no jurisdiction to reopen the entire assessment and to determine afresh the assessable profits or to correct errors and ..... the amount of the loss as computed by him for the purposes of this section.' the corresponding provisions in the income-tax act, 1961, are contained in sections 70 and 72. a special section in the latter act, that is, section 80, is to be noted. this section runs as follows : '80. submission of return ..... this case a full bench of this court considered the nature of reassessment proceedings. rankin c.j., dealing with section 34 of the indian income-tax act, 1922, observed at page 451 of the report as follows : '............ i am unable to say that the language of section 34 pointsto an ..... notify to the assessee the amount of loss for any year as computed by him in accordance with section 24(3) of the income-tax act, the assessee was entitled to have such a loss redetermined in a subsequent year.15. this decision does not appear to advance the .....

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Sep 21 1976 (HC)

income-tax Officer and ors. Vs. Mahadeo Lal Tulsian and ors.

Court : Kolkata

Decided on : Sep-21-1976

Reported in : 82CWN197,[1977]110ITR786(Cal)

..... passed by a. k. mookerji j, in civil rule no. 607(w) of 1971 [mahadeolal tulsyan v. income-tax officer : [1977]110itr637(cal) ], whereby the learned judge set aside a notice under section 148 of the income-tax act, 1961 (hereinafter referred to as the 'said act'), and quashed all proceedings initiated thereon.2. messrs. calcutta hardware store, of which the sole respondent is a ..... a notice was being issued on obtaining the necessary satisfaction of the commissioner, of income-tax, west bengal-i. the respondent disputed the validity of such a notice under section 148 and the proceedings for reassessment ..... partner, was assessed to income-tax for the assessment year 1961-62 on a total income of rs. 87,227 by the income-tax officer, 'i' ward, hundi circle, calcutta, ..... impugned notice under section 148 of the said act proposing to reassess the income for the' said year 1961-62 on the ground that he had reason to believe that the assessee's income chargeable to tax for the assessment year 1961-62 had escaped assessment within the meaning of section 147 of the income-tax act, 1961. the notice further recited that such .....

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Dec 08 1976 (HC)

B.C. Nawn and Bros P. Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Dec-08-1976

Reported in : [1977]109ITR632(Cal)

..... the 19th september, 1969, and if so,whether it was barred by limitation within the meaning of section 153(1)(a) of the income-tax act, 1961 ?'5. an income-tax officer makes an assessment under the provisions of section 153 of the act. section 153 provides, inter alia, as follows:' 153, time limit for completion of assessments and reassessments.--(1) no order of assessment shall ..... the above contentions which mr. mukherjee has raised, it seems to us that the provisions of section 153(1)(a) and those of section 263 are independent provisions in the income-tax act, 1961. these two sections are invoked by two independent authorities and the periods for exercise of powers by these two independent authorities have been specified in the ..... under section 256(1) of the income-tax act, 1961. for the assessment year 1963-64, the assessee filed a return on 15th december, 1964, showing the total income of rs. 29,937. the return was due under section 139 on 24th october, 1963.2. on september 25, 1967, the income-tax officer made the assessment and computed the total income at rs. 2,60,720. on ..... as follows :' 263. revision of orders prejudicial to revenue.--(1) the commissioner may call for and examine the record of any proceeding under this act, and if he considers that any order passed therein by the income-tax officer is erroneous in so far as it is prejudicial to the interests of the revenue, he may, after giving the assessee an opportunity of .....

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Jun 08 1976 (HC)

Gopal Chand Sen Vs. Income-tax Officer and ors.

Court : Kolkata

Decided on : Jun-08-1976

Reported in : 81CWN253,[1977]109ITR820(Cal)

..... others behalf but on his own behalf. this courtexpressly found that the provision of section 13(b) of the agricultural income-tax act which corresponds to sections 40 and 41 of the income-tax act had no application to the executors. so far as, however, the receiversare concerned, the point in our opinion has been set at rest by the supreme court by several decisions. ..... had been assessed in the hands of the receivers, can be added to the assessee's personal income for computation of his total income under section 16(l)(a) of the indian income-tax act, 1922, for the purpose of determining the rate of taxation. the appeal is directed against the judgment and order dated february 20, 1963, passed by d. basu j. in civil ..... rate of taxation. manmatha nath sen died and the present appellant as his heir and legal representative preferred a review, application under section 33a(2) of the act before the commissioner of income-tax, the commissioner of income-tax affirmed the view taken by the appellate assistant commissioner and dismissed the review petition by an order dated february 5, 1960. in doing so, it is ..... assessment of the business income in the hands of the receivers cannot but be an assessment in terms of section 41(1) of .....

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Apr 27 1976 (HC)

Commissioner of Income-tax Vs. S.C. Ghosal

Court : Kolkata

Decided on : Apr-27-1976

Reported in : [1977]106ITR980(Cal)

..... but his address he supplied.5. the confirmation letters also furnished assessment file numbers of the creditors showing that they were income-tax assessees.6. the income-tax officer was not satisfied with this evidence and issued notices under section 131 of the income-tax act, 1961, calling upon the creditors to produce their books of account and confirm that the said loans were genuine.7. ..... loans had been verified from his documents. the proprietor of naraindas hotchand informed the income-tax officer that at the time of the service of the summons under section 131 of the income-tax act, 1961, he had left calcutta but asked for another date for personal appearance.8. the income-tax officer did not fix any date for further appearance of naraindas hotchand but completed ..... in this reference under section 256(2) of the income-tax act, 1961, at the instance of the assessee, s. c. ghosal, the following questions have been directed to be referred :'1. whether, on the facts and in the circumstances of the case, the tribunal was right in jaw in holding that the income-tax officer was not justified in treating the hundi loans ..... or about 1958, discovered from a large number of cases that fictitious hundi loans were being relied upon by various assessees to bring into their books of account concealed income, the income-tax officer concluded that the creditors in the instant case were not in a position to make the alleged advances to the assessee and, therefore, the accommodation which had been .....

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Mar 02 1976 (HC)

Suganchand Chandanmal Vs. Income-tax Officer and ors.

Court : Kolkata

Decided on : Mar-02-1976

Reported in : [1976]105ITR743(Cal)

..... patwari, chandanmull agarwalla, hulasi debi and rukmini debi. on october 16, 1965, all the partners of the petitioner-firm filed disclosure petitions under section 271(4a) of the income-tax act before the commissioner of income-tax, west bengal iii. in the said disclosure petitions it was admitted that the personal funds belonging to the aforesaid four partners were invested in the books of account ..... petitions it would appear that fictitious and false entries were made in the books of the assessee-firm. the reasons as recorded under clause (a) of section 147 of the income-tax act, 1961, for obtaining sanction were produced before me and the said reasons were to the following effect:'the books of accounts of the assessee for the relevant previous year contained ..... sabyasachi mukharji, j.1. in this application the notice under section 148 of the income-tax act, 1961, dated the march 30, 1970, in respect of the assessment year 1961-62 is the subject-matter of challenge. the assessee is a registered partnership firm. it was contended ..... the assessee. in this connection, reliance may be placed on the observations of the division bench of the bombay high court in the case of narayandas kedarnath v. commissioner of income-tax : [1952]22itr18(bom) it further appears that in obtaining sanction from the commissioner it was represented that the assessee had made a confession. that is incorrect. the assessee had not .....

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Feb 26 1976 (HC)

Shib Banerjee Properties and Construction Pvt. Ltd. Vs. Commissioner o ...

Court : Kolkata

Decided on : Feb-26-1976

Reported in : [1979]120ITR301(Cal)

..... that the appellate assistant commissioner of income-tax, range 'd', calcutta, was not justified in vacating the order under s, 23a in this case ?' 2 ..... and in the circumstances of the case, the tribunal was right in holding that the additions sustained to the income or loss disclosed in the statement of account represented the actual commercial profits for the purpose of section 23a of the indian income-tax act, 1922 ? 2. whether, on the facts and in the circumstances of the case, the tribunal was right in holding ..... there is some force in this contention, it being a pure question of fact, we do not express any opinion on it.15. as already stated, the income-tax authorities, while acting under section 23a of the act, must determine the commercial profit of the companyby applying the commercial principles. and it has not been done in thepresent case. in other words, the tribunal ..... the commercial profit of the assessee for the purpose of section 23a of the act. in this connection, mr. pal has relied on an unreported judgment of this high court dated september 24, 1974, in income-tax reference no. 69 of 1970 intituled mehar singh & co (p.) ltd. v. cit (since reported in : [1977]108itr607(cal) . he has also cited the decision of the .....

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Nov 17 1976 (HC)

Commissioner of Income-tax Vs. Wilh. Wilhelmsen

Court : Kolkata

Decided on : Nov-17-1976

Reported in : [1978]115ITR10(Cal)

..... world fleet and many of the ships might not have been used at all in the indian waters but there is no prohibition under the indian income-tax act against allowing depreciation on such ships simply on the ground that the ship had formed a part of the company's fleet for more than 20 ..... the ship was evidently not used for purpose, of the round voyage via india and as such no depreciation had been allowed under the indian income-tax act except for the first year.....in the case of a foreign shipping company like that of the appellant-company there may be ships which are ..... purpose of assessment under the indian income-tax act. this, to our mind, seems to be the most patent and obvious interpretation of section 10(2)(vi). in the case of the present assessee ..... has also to take into account only such depreciation as has been actually allowed under the indian income-tax act. as such we are not concerned with any notional depreciation or depreciation which might have been provided, in the accounts other than those relevant for the ..... under rule 8, the rates have been prescribed for the different kinds of ocean-going steamers and vessels. when the depreciation is allowed under the indian income-tax act it follows that in the matter of calculating the overall or total depreciation for the purpose of proviso (e) to section 10(2)(vi) one .....

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