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Judgment Search Results Home > Cases Phrase: income tax act Court: kolkata Year: 1976 Page 3 of about 98 results (0.041 seconds)

Sep 08 1976 (HC)

L. Madanlal (Aluminium) P. Ltd. Vs. Income-tax Officer and ors.

Court : Kolkata

Decided on : Sep-08-1976

Reported in : [1978]115ITR293(Cal)

..... of the belief can be challenged by the assessee but 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 ito. the belief must be held in good faith ; it cannot be merely a pretence. to put it ..... . in this rule, the petitioner l. madanlal (aluminium) pvt. ltd. has challenged the legality of a notice dated november 14, 1975, issued by the ito under section 148 of the income-tax act, 1961 (hereinafter referred to as ' the act '), for the assessment year 1972-73.2. the petitioner carries on the business of manufacture of aluminium utensils. the petitioner filed its returns of ..... laid down by it, but such a knowledge has no bearing on the formation of the belief that the income of the assessee had escaped assessment. in s. narayanappa v. cit : [1967]63itr219(sc) , on an interpretation of section 34 of the indian income-tax act, 1922, the supreme court observed as follows (pages 221, 222) :'but the legal position is that if there are ..... been alleged in the said notice that the respondent no. 1 has reason to believe that the income chargeable to tax for the assessment year 1972-73 has escaped assessment within the meaning of section 147 of the act, and that he proposed to reassess the income that has so escaped assessment. by the said notice, the respondent no. 1 directed the petitioner to .....

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Jan 07 1976 (HC)

Kishori Lal Lakkar Vs. Income-tax Officer, 'A' Ward and Ors.

Court : Kolkata

Decided on : Jan-07-1976

Reported in : [1978]113ITR282(Cal)

..... with this aspect of the matter at all. lastly, this impugned order is an appealable order under clause (a) of section 246 of the income-tax act, 1961. no explanation was given in the petition as to why the order was not appealed. for all these reasons i am of the opinion ..... original registration. he had not appeared in pursuance of the summons under section 131 of the income-tax act, 1961. the circumstances under which a person alleged to be nandram jhunjhunwalla appeared before the income-tax officer, 'b' ward, dist. v(1), on the 7th march, 1969, had been explained in ..... 'to accept the contention that no reasonable opportunity had been given to the petitioner in this case. it was, lastly, contended that the income-tax officer had acted erroneously in holding that nandram jhunjhunwalla was a non-existent person. it was contended that he had been produced at the time of the ..... therefore, the notice did not give reasonable opportunity. i am also unable to accept this contention. the information indicated what was gathered by the income-tax officer and thereupon he gave the assessec or the petitioner an opportunity to adduce evidence to rebut that tentative conclusion. the notice in my opinion ..... if further time was given nor has the petitioner stated what other evidence the petitioner has in possession to rebut the tentative conclusion of the income-tax officer. the petitioner has also not stated why he wanted longer time. in the premises, i am unable to accept this contention that .....

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Dec 24 1976 (HC)

income-tax Officer, 'G' Ward and Ors. Vs. Selected Dalurband Coal Co. ...

Court : Kolkata

Decided on : Dec-24-1976

Reported in : [1978]113ITR489(Cal)

..... year 1961-62 and also issued two notices both dated november 6, 1970, for the assessment years 1963-64 and 1965-66 under section 147 of the income-tax act, 1961 (hereinafter referred to as 'the act.'). the relevant accounting years of the assessee-company were years ending december 31,1960, december 31, 1962, and december 31, 1964, respectively. on february 11, 1971, ..... , which is set out hereunder.'notice dated 12th march, 1970, under section 148 of the income-taxact, 1961, issued by the income-tax officer, 'g' ward, companies district-ii, calcutta, in respect of asstt. years 1961-62.i. t. n. s. 84 notice under section 148 of the income-tax act, 1961.income-tax officer, comp. dist. ii p-7, chowringhee sq. cal. dated the 12th march, ..... of section 147 of the income-tax act, 1961.i, therefore, propose to reassess the income for the said assessment year and i hereby require you to deliver to me within 30 days ..... 1970. tothe principal officer,selected dalurband coal co., 137, cotton street, calcutta.whereas i have reason to believe that your income chargeable to tax for the assessment year 1961-62 has escaped assessment within the meaning .....

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Mar 04 1976 (HC)

B.D. Khaitan Vs. Income-tax Officer and ors.

Court : Kolkata

Decided on : Mar-04-1976

Reported in : [1978]113ITR556(Cal)

..... barred by limitation. my attention was drawn to section 231 of the income-tax act, 1961, which provides that save in accordance with the provisions of section 173 or sub-section (7) of section 220, with which i am ..... claimed as outstanding was not recoverable in view of the fact that interest for the assessment made under the provisions of the indian income-tax act, 1922, was not payable. 3. the next ground of challenge against the impugned notice was that the proceeding for imposition of penalty was ..... claim for interest for the assessment year 1955-56 had been indicated as outstanding demand under the provisions of section 221(2) of the income-tax act, the whole notice was bad. the petitioner would be at liberty when the petitioner would show cause to indicate that part of the sum ..... the position is that for the assessment year 1955-56, nointerest could have been charged inasmuch as the said demand had been made under the indian income-tax act, 1922, and had remained outstanding. therefore, penalty could not be imposed for non-payment of interest on that account. this seems to be the ..... assessment year 1958-59, had remained outstanding. the petitioner was asked to show cause why penalty should not be levied under section 221 of the income-tax act, 1961. for this purpose, the petitioner was directed to appear or to send representation by 22nd june, 1974. it appears that for the assessment .....

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Jun 18 1976 (HC)

Smt. Bani Roy Chowdhury Vs. Competent Authority, Inspecting Assistant ...

Court : Kolkata

Decided on : Jun-18-1976

Reported in : [1978]112ITR111(Cal)

..... any moneys or other assets which have not been or which ought to be disclosed by the transferee for the purposes of the indian income-tax act, 1922 (11 of 1922), or the income-tax act, 1961 (43 of 1961), or the wealth-tax act, 1957 (27 of 1957); and whereas the reasons for initiating proceedings for the acquisition of the aforesaid property in terms of chapter xxa ..... any moneys or other assets which have not been or which ought to be disclosed by the transferee for the purposes of the indian income-tax act, 1922 (11 of 1922), or this act or the wealth-tax act, 1957 (27 of 1957), the competent authority may, subject to the provisions of this chapter, initiate proceedings for the acquisition of such property under this chapter : ..... purchased by the petitioner also from the life insurance corporation of india.6. the petitioner received two notices, both dated 10th june, 1973, under section 269d(1) of the income-tax act as stated hereinabove from the competent authority whereby the said authority purported to state that it had reason to believe that the immovable property having a fair market value exceeding ..... , in pursuance of section 269c, i hereby initiate proceedings for the acquisition of the aforesaid property by the issue of thisnotice under sub-section (1) of section 269d of the income-tax act, 1961 (43 of 1961), to the following persons, namely-(i) m/s. life insurance corporation of india, (ii) m/s. hindusthan building society ltd. (confirming party) (transferor)(2) shrimati .....

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Feb 27 1976 (HC)

Dhirendra Nath Patra Das Vs. Agricultural Income-tax Officer, Range-ii

Court : Kolkata

Decided on : Feb-27-1976

Reported in : 82CWN117,[1978]112ITR233(Cal)

..... for 1972-73 and 1973-74 under the bengal agricultural income-tax act, 1944. the main point seems to be that under the agricultural income-tax act under section 7, income is assessable on the basis of the amount of the agricultural income received by the assessee inthe previous year. agricultural income has been defined to mean, inter alia, any income derived from land by agriculture. the assessee's contention ..... is that as a result of the west bengal land reforms act his lands being cultivated by ..... bargadars he had been in fact receiving only 25 per cent. of the total produce of the land and as such was liable to be taxed on that basis. it appears that the respondent, the agricultural income-tax officer, has proceeded on the basis of what was the ..... income receivable by him, computing the same on the basis of the total land held by the assessee on the basis of reasonable yield from that land and thereupon deducting from that calculation the costs in terms of the proviso to section 7 of the act. but the first .....

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May 20 1976 (HC)

Commissioner of Income-tax Vs. General Electric Co. of India Ltd.

Court : Kolkata

Decided on : May-20-1976

Reported in : [1978]112ITR246(Cal)

..... . the tribunal also took note of the fact that though the assessment in the instant case was made under the indian income-tax act, 1922, yet the rectification was made under section 154 of the income-tax act, 1961. in the case of sankappa v. income-tax officer : [1968]68itr760(sc) , the supreme court had held that in cases where returns had been filed before the commencement of ..... the least a mixed question of fact and law.29. we also do not accept the contention of mr. ray that the high court in its advisory jurisdiction under the income-tax act cannot consider or take into account law which was not considered or cited before the tribunal.30. the relevant and basic facts in the instant case are that the amending ..... had found and held that section 154 has been wrongly applied and that the order of rectification could have been passed only under section 35 of the earlier act, i.e., the indian income-tax act, 1922. mr. ray submitted that as this finding of the tribunal had not been challenged the questions referred have become academic.14. mr. s. sen, learned counsel for ..... assessee was entitled to a lesser sum than what was allowed to him originally on account of interest. after the amending actwas passed, the income-tax officer exercised his power under section 35 of the indian income-tax act, 1922 and rectified the mistake in the order of assessment and demanded repayment of the sum which was allowed to the assessee in excess. it was .....

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Jun 18 1976 (HC)

J.K. Steel and Industries Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Jun-18-1976

Reported in : [1978]112ITR285(Cal)

..... the circumstances of each case to determine for himself whether the remuneration paid to the employee or any portion thereof was properly deducted under section 10(2)(xv) of the income-tax act.'20. the supreme court noted the finding of the appellate tribunal that the payment of the commission was made to the directors for extra-commercial reasons and was not wholly ..... to decide whether the amount so paid to thedirectors was wholly and exclusively spent for the purpose of the business within the meaning of section 10(2)(xv) of the income-tax act. it is an erroneous proposition to contend that as soon as an assessee has established two facts, viz., the existence of an agreement between the employer and the employee and ..... directors of the assessee-company during the relevant previous year was an expenditure incurred wholly and exclusively for the purpose of the business under section 10(2)(xv) of the income-tax act 'the high court had already answered this question in favour of the revenue and against the assessee. the supreme court noted that this payment was made pursuant to a special ..... was right in holding that the entire payment of selling agency commission was not an allowable deduction in computing the income from business but only a portion thereof was allowable for the assessment years1960-61 and 1961-62 under the indian income-tax act, 1922 ?'2. the reference is at the instance of m/s. j. k. steel & industries ltd., calcutta, the assessee. the .....

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Sep 17 1976 (HC)

Babulal Newar Vs. Commissioner of Income-tax and ors.

Court : Kolkata

Decided on : Sep-17-1976

Reported in : [1978]112ITR399(Cal)

..... , it appears, was pursuing his remedies in different forums.19. for the reasons aforesaid, the petitioner succeeds in his application. the orders of the income-tax officer computing the interest under section 215 of the income-tax act, 1961, including the order finally made on 4th february, 1972, are quashed. it is made clear that apart from interest the assessment as finally ..... 1963, was invalid and could not form the subject-matter of the proceedings under section 273(a) of the income-tax act, 1961.8. thereafter, the petitioner made an application by way of revision to the commissioner of income-tax under section 254 of the income-tax act, 1961, contending that the interest as ultimately recomputed was erroneously imposed. such interest was charged on the erroneous assumption ..... in contravention of the said sections and consequently invalid and non est.7. in the meantime, on the basis of the original assessment by the income-tax officer, penalty proceedings under section 273(a) of the income-tax act, 1961, had been initiated and by an order dated the 4th december,1967, a penalty of rs. 25,000 was imposed. the petitioner preferred ..... quashing the same.10. the petitioner had initially challenged the last order of the respondent no. 3, dated the 4th february, 1972, passed under section 215 of the income-tax act, 1961, and the order of the respondent no. 2, the additional commissioner, dated the 23rd april, 1973, on the grounds that the interestcharged under section 251 of the .....

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Dec 09 1976 (HC)

Smt. Bhagirathi Devi Jalan Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Dec-09-1976

Reported in : [1978]112ITR534(Cal)

..... such orders as it thinks fit.' 23. in the supreme court case : [1974]96itr390(sc) pursuant to an authorisation issued under section 132(1) of the income-tax act, 1961, searches were carried out on october 15 and 16, 1971, at the residence and business premises of p, an individual, and at certain premises of ..... facts and in the circumstances of the case, the tribunal was correct in law in authorising the commissioner to pass an order under section 33b of the indian income-tax act, 1922, after the period of limitation laid down in that section by directing him to dispose of the matter afresh ' 2. the relevant provisions of section ..... in the circumstances aforesaid the above question has been referred to us pursuant to the provisions of section 66(2) of the indian income-tax act, 1922. 13. on behalf of the assessee reliance has been placed on sub-section (3) of section 34 of the 1922 ..... it in view of the aforesaid special period of limitation. 17. in support of the above contentions he argues that, so far as the income-tax officer is concerned, the act of 1922 in respect of the identical situations makes provisions in the second proviso to section 34(3) but, so far as the commissioner ..... after his order is remanded to him by the tribunal on appeal after the expiry of two years from the order of the income-tax officer. in section 263 of the 1961 act this contingency has been taken into account and specific provision has been made. there is, therefore, a deliberate omission in section 33b .....

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