Skip to content


Judgment Search Results Home > Cases Phrase: income tax act Court: kolkata Year: 1976 Page 4 of about 98 results (0.040 seconds)

Aug 25 1976 (HC)

Commissioner of Income-tax (Central) Vs. Jardine Henderson Ltd.

Court : Kolkata

Decided on : Aug-25-1976

Reported in : [1978]112ITR802(Cal)

..... division bench of the bombay high court, held that an assessee was not entitled to appeal merely against an order imposing penal interest under section 18a(8) of the indian income-tax act, 1922. bat he observed that there was an automatic adjustment of penal interest imposed under sub-section (8) of the said section as also sub-section (6) where there was ..... '9. mr. a. sengupta, learned counsel for the revenue, has contended before us that there is no appeal from the calculation of interest under section 18a(5) of the indian income-tax act, 1922. in support of his contention mr. sengupta cited and relied on a large number of decisions of various high courts which are noted chronologically as follows :(a) bhagat dunichand ..... and in the circumstances of the case, the tribunal was right in holding that it was open to the assessee to challenge the order of the income-tax officer under section 18a(5) of the indian income-tax act, 1922, and in directing the appellate assistant commis-sioner accordingly to deal with the merits of calculation of interest under the said provision '8. pursuant to ..... was rs. 8,48,541*36, the amount paid in excess being rs. 61,708-64.3. on such excess, interest was allowable under section 18a(5) of the indian income-tax act, 1922, and was calculated to be rs. 9,256.31,4. an appeal against this assessment order was preferred before the appellate assistant commissioner, where a number of grounds were .....

Tag this Judgment!

Jan 06 1976 (HC)

Alipurduar Tea Co. Ltd. Vs. Agricultural Income-tax Officer and ors.

Court : Kolkata

Decided on : Jan-06-1976

Reported in : 80CWN404,[1978]112ITR878(Cal)

..... should have been made in the bengal agricultural income-tax act, 1944, for altering such assessment or determination of liability under ..... the bengal agricultural income-tax act. there seems to be a lacuna in the bengal agricultural income-tax act. the act should have provided power to revise the order of assessment by the agricultural income-tax officer consequent upon the appellate or revisional order passed under the scheme of indian income-tax act because the taxability under the bengal agricultural income-tax act, 1944, depends upon the computation of income made under the indian income-tax act. when there ..... is variation of such computation under the scheme of the indian income-tax act, provision .....

Tag this Judgment!

Apr 06 1976 (HC)

Commissioner of Income-tax Vs. Indian Oxygen Ltd.

Court : Kolkata

Decided on : Apr-06-1976

Reported in : [1978]112ITR1025(Cal)

..... assessee that the expenditure in question was a revenue expenditure and the deduction claimed by the assessee was allowable under section 10(2)(xv) of the indian income-tax act, 1922.13. accordingly, we return our answer to the question in the affirmative and in favour of the assessee, with no order as to costs.dipak ..... to the british oxygen co. ltd., london, in pursuance of the agreement dated october 1, 1959, was a permissible deduction under section 37(1) of the income-tax act, 1961 ?'2. the assessment year involved is 1962-63 for which the relevant accounting year ended on september 30, 1961.3. the assessee is an indian company ..... amount was claimed by the indian company as a deduction, but it was rejected by the income-tax officer.5. in the appeal filed by the indian company this deduction has been allowed under section 37(1) of the income-tax act 1961, by the appellate assistant commissioner and the appeal filed by the department has been ..... dismissed by the tribunal by following the decision of the supreme court in the case of commissioner of income-tax v. ciba of india ltd. [1968] 69 itr 692 ..... deb, j.1. the following question is involved in this reference under section 256(2) of the income-tax act, 1961:'whether, on the facts and in the circumstances of the case, the tribunal was right in holding that the sum of rs .....

Tag this Judgment!

Dec 09 1976 (HC)

Commissioner of Income-tax (Central) Vs. General Textiles

Court : Kolkata

Decided on : Dec-09-1976

Reported in : [1978]111ITR727(Cal)

..... now concerned with the following questions : '(1) whether, on the facts and in the circumstances of the case and on a proper construction of sections 246 and 247 of the income-tax act, 1961, there could be an appeal by the firm in which the rebate as allowable under section 88 in favour of the partners could be raised (2) whether in the ..... section 256(1) of the income-tax act,1961, relates to the assessment of a registered firm. the firm donatedrs. 8,000 to a charitable trust and claimed rebate under section 88 of theact. the income-tax officer allowed the said claim. 2. the firm contended that the above rebate should also be granted to its partners. as the income-tax officer rejected the said claim, the ..... , the question of apportionment between the partners cannot be raised in that appeal in view of section 247 of the act. accordingly, we agree with the opinion of the allahabad high court in the case of shanker refrigeration co. v. commissioner of income-tax : [1976]102itr275(all) , that in a proceeding for assessment of a registered firm any rebate or allowance to which ..... eligible for relief under section 88?' 3. section 67 of the act provides for computation of the total income of an assessee who is a partner of a firm. section 182 provides that in the case of a registered firm, the firm's total income should be assessed first and then the income-tax payable by the firm shall be determined and the share of .....

Tag this Judgment!

May 04 1976 (HC)

Commissioner of Income-tax Vs. Ion Exchange (India) Ltd.

Court : Kolkata

Decided on : May-04-1976

Reported in : [1977]110ITR98(Cal)

..... or non-indian, which is or was assessable or was assessed under the relevant income-tax act for the assessment year commencing on the 1st april, 1947. the meaning which the revenue seeks to give to the word 'assessable' is that ..... learned brother. i would like to add the following as further reasons on which the conclusion can be supported. 17. section 2(17) of the income-tax act, 1961, which has been fully set out in the other judgment includes within the ambit of the expression 'a company', any association, whether indian ..... whether indian or non-indian, which is or was assessable or was assessed under the indian income-tax act, 1922 (11 of 1922), as a company for the assessment year commencing on the 1st day of april, 1947, or which is declared by general ..... before us at the instance of the commissioner. 7. to appreciate the contentions made before us it is necessary to refer to section 2(17) of the income-tax act, 1961. it reads as follows : '(17) 'company' means- (i) any indian company, or (ii) any association, whether incorporated or not and ..... a public limited company in which the public were substantially interested within the meaning of that expression as defined by section 2(18) of the income-tax act, 1961. the appellate assistant commissioner accepted the said evidence and allowed the appeal with a finding that permutit company was a company in which .....

Tag this Judgment!

Sep 17 1976 (HC)

Union of India (Uoi) Vs. Tata Mills Ltd. and ors.

Court : Kolkata

Decided on : Sep-17-1976

Reported in : [1977]110ITR135(Cal)

..... due by the debtor where there are funds in the court belonging to the debtor. leach c.j. referred to the argument of the assessee that section 46 of the income-tax act (old) provides the modes of recovery and that the crown was not entitled to adopt a different method. rejecting this contention leach c.j. held that this provision did not ..... was also stated that on 15th january, 1968, an application was made on behalf of the firm for registration of the firm for the assessment year 1967-68 under the income-tax act, 1961. together with the said application for registration a copy of a new partnership deed dated 16th july, 1966, was filed. it appears that a dispute had arisen between budhmull ..... thereof. it was alleged by the union of india that the said firm was assessed as a registered firm under the income-tax act, 1961 (hereinafter referred to as the 'said act'), for the assessment years 1962-63 and 1963-64 and the income-tax payable by the firm was determined to be rs. 45,741.42 and rs. 33,604, respectively.4. for the assessment ..... . he has submitted that'each of the partners is an ' assessee ' within the meaning of section 2(7) of the said act inasmuch as they are liable for the debts of the partnership firm which includes taxes and penalties under the income-tax act. accordingly, section 226(4) was applicable in this case. in this connection he relied on certain decisions.11. the third submission .....

Tag this Judgment!

Nov 17 1976 (HC)

Commissioner of Income-tax Vs. J. Thomas and Co. Pvt. Ltd.

Court : Kolkata

Decided on : Nov-17-1976

Reported in : [1977]110ITR566(Cal)

..... purpose of the assessee's business no development rebate under section 33(1)(a) of the income-tax act, 1961, can ba allowed. accordingly, we return our answer to the question in the negative and in favour of the revenue.13. the parties ..... be presumed that parliament knew the judgment of the learned chief justice in dalmia cement ltd.'s case : [1945]13itr415(patna) at the time of enacting the income-tax act, 1961. therefore, it must be held that parliament has accepted the meaning of the word ' wholly ' which means 'exclusively' as stated by the learned ch ..... wholly ' and ' exclusively ' arc practically the same as stated in oxford dictionary compact. he argued that in interpreting section 33(1)(a) of the income-tax act, 1961, rules of grammar relied on by mr. ginwala should not be applied. it is his final contention that the facts in the madras case and ..... any reason to differ from the madras high court on the interpretation of the corresponding section of the indian income-tax act, 1922, which is in pari rnateria with the present section of the income-lax act, 1961.12. we are also of opinion that unless the machinery or plant is used exclusively for the ..... materia. the case of dalmia cement ltd. : [1945]13itr415(patna) was decided in 1945 under section 10(2)(vi) of the indian income-tax act, 1922. the assessee was the owner of cement factories one of which worked only for 2 months during the relevant year. the assessee claimed .....

Tag this Judgment!

Nov 09 1976 (HC)

Waldies Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Nov-09-1976

Reported in : [1977]110ITR577(Cal)

..... ) .6. dr. debi pal, appearing for the assessee, has argued before us the following points :(1) the expression ' for the purpose of business ' in section 36(1)(iii) of the income-tax act, 1961, is wider in its scope than the expression ' for the purpose of making or earning the profit ' in section 57(iii) of the ..... act. (2) the payment of taxes and the carrying on of the business out of which income arises, are closely interlinked. the payment of taxes, therefore, is incidental to the business. (3) advance tax is paid for preservation of business assets from the coercive process envisaged by the income-tax act in sections 218, 220, 221, 222 and 226 ..... . it should, therefore, be held that payment of advance tax was made ' for the purpose of business ' and if advance tax had to be paid by borrowing money, interest paid on that money should be deductible under section 36(1)(iii ..... . this is a reference under section 256(1) of the income-tax act, 1961. the assessment year is 1971-72. the corresponding accounting period ended on september 30, 1970. the assessee had an overdraft account. receipts were deposited in this account and payments including taxes were also made from this account.2. the income-tax officer found that part of the amount drawn from the overdraft .....

Tag this Judgment!

Apr 21 1976 (HC)

Charmugaria Trading Co. Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Apr-21-1976

Reported in : [1977]110ITR715(Cal)

..... earlier. bhagwati j. of the gujarat high court (as he then was) held in construing explanation 2, clause (i) of section 23a of the indian income-tax act, 1922, that the word ' business ' as appearing in this section must be given its legal meaning and it was for the revenue to establish that the ..... , could not be an investment was rejected.6. from this order of the tribunal the following question has been referred under section 256(1) of the income-tax act, 1961 :' whether, on the facts and in the circumstances of the case, the tribunal was right in holding that the assessee-company is an investment ..... was an investment company within the meaning of section 109(ii) of the income-tax act, 1961.3. the income-tax officer proceeded on the basis that the assessee was an investment company and levied additional super-tax under section 104(1) of the income-tax act, 1961, as in the earlier assessment year 1962-63, where it was ..... ltd. : [1972]83itr377(sc) . before a company can be stated to be an investment company falling within the mischief of section 109(ii) of the income-tax act, 1961, the following have to be found as a fact :(a) that the assessee is carrying on a business, i.e., it is carrying on a ..... ltd. : [1972]83itr377(sc) . in this case the supreme court had to consider clause (i) of explanation 2 to section 23a of the indian income-tax act, 1922.14. in construing the said clause the supreme court held that a company must be one whose primary business must be 'in the dealing in or .....

Tag this Judgment!

May 06 1976 (HC)

Russell Properties Pvt. Ltd. Vs. A. Chowdhury, Addl. Commissioner of I ...

Court : Kolkata

Decided on : May-06-1976

Reported in : [1977]109ITR229(Cal)

..... assistant commissioner, there was no occasion and purpose for resorting to the revisional power of the commissioner. it was submitted that section 33b of the indian income-tax act, 1922, as well as section 263 of the income-tax act, 1961, were revisional powers, and therefore, on the principle that the revisional powers should not be available where there was an appellate jurisdiction, the ..... concluded by the decision of the higherauthorities the commissioner should have power to revise or set aside or not to give effect to the order of the income-tax officer by adding another provision in the income-tax act or whether the income-tax act, 1961, as it is by virtue of the provision of section 147 or sub-section (3) of section 263 of the ..... not require service of any notice as condition precedent for initiation of the proceeding. unlike section 34 of the indian income-tax act, 1922 or section 148 of the income-tax act, 1961, section 33b of the 1922 act or section 263 of the 1961 act does not require that any notice should be issued by the commissioner before he assumes jurisdiction to proceed to revise ..... the tribunal, however, has upheld the appellate assistant commissioner's orders for the said two years and the department has filed reference applications under section 256(1) of the income-tax act, 1961, which are still pending. notwithstanding the fact that the department had not accepted the orders of the appellate assistant commissioner for the earlier assessment years 1965-66 and .....

Tag this Judgment!


Save Judgments// Add Notes // Store Search Result sets // Organizer Client Files //