Court : Kolkata
Decided on : Aug-12-1976
Reported in : 81CWN226,112ITR100(Cal)
..... . points raised in these appeals and in the cross-objections in two of them are common and they turn on the interpretation of section 280zd of the income-tax act, 1961 (hereinafter referred to as 'the said act'). these appeals and cross objections have in such circumstances been heard together and are being disposed of by this judgment.2. the sole respondent in these ..... income-tax officer and where the amount of such certificate exceeds such liability, or where there is ..... as may be provided in the scheme. (5) the amount shown on a tax credit certificate granted to any person under this section shall, on the certificate being produced before the income-tax officer, be adjusted against any liability of that person under the indian income-tax act, 1922 (11 of 1922), or this act, existing on the date on which the certificate was produced before the ..... no such liability, the excess or the whole of such amount, as the case may be, shall, notwithstanding anything contained in chapter xix, be deemed, on the said date, to be refund due to such person under that chapter and the provisions of this act .....Tag this Judgment!
Court : Kolkata
Decided on : Mar-12-1976
Reported in : (1976)5CTR(Cal)0269B
..... order dated 14th of september, 1973 passed under section 262 of the income tax act, 1961 by the additional commissioner of income tax, west, bengal i. it appears that for the relevant assessment year namely, assessment year 1965-66 the petitioner had returned income for rs. 6,581/-. the income tax officer assessed the income at rs. 2,15,719/-. in appeal the appellate assistant commissioner reduced ..... inspecting commissioner imposed a penalty of rs. 6,230/-. against the order of penalty the petitioner did not prefer any appeal but made an application before the commissioner of income tax for revision. the commissioner by his order dated 14th of september, 1973 dismissed this revision application. the said order is under challenge in this application under article 226 ..... was placed before me on several authorities, namely, -1971 taxation law reports, volume i, page 1909 (commissioner of income tax vs. m/s. shankrasons and co., trivandrum)85 i.t.r. 627 (commissioner of income tax vs. shankarsons and company).99 i.t.r. 514 (commissioner of income tax, gujarat-iii vs. gujarat textile co. (p) ltd.)100 i.t.r. 464 (commissioner of ..... the income by rs. 1,24,963/-. in second appeal the income tax appellate tribunal reduced the income by rs. 41,610/- and as a result the reduced income was 49,146/-. the difference of rs .....Tag this Judgment!
Court : Kolkata
Decided on : Mar-22-1976
Reported in : (1976)5CTR(Cal)296
..... provisions of section 282 of the income tax act, 1961 must be made as if it was a summons issued by a court under the code of civil procedure. under order 5, rule 17 of the code in order ..... the said assessment under article 226 of the constitution challenges the said reopening.2. the first question, is, whether the petitioner was served with notices under section 148 of the income tax act, 1961. the service of notice under section 148 is mandatory and is a condition precedent for the initiation of the re-assessment proceeding. the said service in view of the ..... j. - on the 4th of september, 1958 the petitioner, vishan swarup was assessed under section 23 (3) of indian income tax act, 1922 on a total income of rs. 18,602/- for the assessment year 1955-56. by notices under section 148 of the income tax act, 1961 allegedly served on the petitioner on the 22nd of march, 1972 as well as on the 28th of march ..... from coming to the belief on proper material that the assessment required to be reopened. so long as it is not established that the income tax officer had surrendered his judgment or abandoned his discretion, it cannot be said that the income tax officer acted at the behest of others. on the materials in the petition i am unable to accept the proposition that the .....Tag this Judgment!
Court : Kolkata
Decided on : Mar-09-1976
Reported in : 81CWN68,110ITR88(Cal)
..... to believe that the property was transferred otherwise than for adequate consideration. in the instant case, having regard to the finding recorded by the tribunal in the assessment under the income-tax act on the capital gains question which is approved by the supreme court it is manifest that there was a scheme or arrangement and as a result of that scheme the ..... the 4th july, 1956, there was a letter from the acci to the secretary, central board of revenue, asking for confirmation that the benefit of section 56a of the indian income-tax act, 1922, would be available to the subscribers to the fresh capital. the petitioner on the 7th march, 1957, wrote to the assistant controller, reserve bank of india, regarding the shares ..... to accept this ratio of the punjab and haryana high court that once a transaction had been treated as for full consideration under the income-tax act, it should also be treated as such for the purpose of the gift-tax act. in the view i have taken on the first aspect of the matter, however, it is not necessary for me to examine this ..... enable the petitioner to take up equity shares in the aforesaid three manufacturing companies initially in the name of the petitioner with a view to get tax advantage under sections 15c and 56a of the indian income-tax act, 1922, with an understanding to transfer the said shares to ici as and when ici would call back the loans. on the 1st of october .....Tag this Judgment!
Court : Kolkata
Decided on : Jul-05-1976
Reported in : AIR1977Cal57
..... cases to some other learned magistrates for disposal. the offences related to those under sections 276-b, 276-d and 276-b of the income-tax act, 1961. six petitions in revision were filed for quashing the proceedings by way of test cases. it was represented before the court that hundreds of similar cases were pending before ..... , of the said companies for failure to deduct income-tax from the salary of the employees, for failure to submit return in time, for failure to take income-tax and super tax on dividends for certain period mentioned in various sections of the income-tax act. on receipt of complaints the learned chief presidency magistrate, calcutta, took cognizance but transferred the ..... 134(1)(c) of the constitution of india for a certificate of fitness for leave to appeal to the supreme court.2. it appears that complaints were filed by the income-tax officer, a-ward, against the directors of the asiatic oxygen and acetylene co. ltd. and asiatic oxygen co. ltd. and one mr. k. c. gangwal designated as the principal officer ..... view that an order is final within the meaning of article 133 of the constitution, under section 109, code of civil procedure or section 205 of the government of india act, 1935, if it amounts to final decision on the rights of the parties in dispute in the suit or proceeding; if after the order is made the suit or proceedings .....Tag this Judgment!
Court : Kolkata
Decided on : Jan-29-1976
Reported in : 80CWN571,107ITR965(Cal)
..... dipak kumar sen, j.1. this is a reference under section 66(1) of the indian income-tax act, 1922, which has been initiated by the commissioner of income-tax, west bengal-iii, calcutta. the facts found and/or admitted as appearing in the statement of the case and the annexures ..... business to acquire more properties for further profitable exploitation.' 19. this decision has been followed in the subsequent decision of this court in the case of commissioner of income-tax v. ukhara estates zamindaries (p.) ltd. : 82itr103(cal) .20. it appears to us that the law, on the point at issue, i. ..... supreme court and the other of this court. the decision of the supreme court is in the case of karanpura development co. ltd. v. commissioner of income-tax : 44itr362(sc) . the facts before the supremecourt were that the assessee was a company which was formed with the objects, inter alia, of ..... by the assessee was a business activity. he distinguished the facts of this case from the facts before the court in sunil krishna paul v. commissioner of income-tax : 59itr457(cal) . he submitted that the exposition of english law by lindley and underhill, as noted above, in fact supported the case of ..... to their discretion and judgment.'12. mr. pal also relied on a decision of this court in the case of sunil krishna paul v. commissioner of income-tax : 59itr457(cal) .13. the facts in that case were that under an agreement two persons became entitled to receive from a limited company a .....Tag this Judgment!
Court : Kolkata
Decided on : Jan-27-1976
Reported in : 1976CriLJ1596
..... a company can have only one principal officer. according to him, more than one principal officer 13 not contemplated under existing laws. directors are not principal officers but under the income-tax act any director may be designated as a principal officer. in these cases sanctioning authority accorded sanction against mr. k. c. gangwal as principal officer and against others as directors. ..... under sections 397, 401 and 482 of the code of criminal procedure, 1973 for quashing complaints under sections 276(b), 276(b), 276(d) and 276(d) of the income-tax act, 1961 and same orders passed by the learned chief presidency magistrate, calcutta,2. it appears that complaints were filed against the directors of the asiatic oxygen and acetylene company limited ..... c. gangwal, designated as the principal officer of the said companies, for failure to deduct income-tax from the salary of the employees, or failure to submit returns in time, for failure to deduct income-tax and super tax on dividends for certain period under various sections of the income-tax act. to be precise the revision case no, 271 of 1975 relates to a complaint for ..... he referred in this connection to section 2, sub-section (35) of the income-tax act which defines a principal officer. in this connection he also referred to section 282, sub-section (2) (b) of income-tax act according to which a notice or requisition under the act may be addressed in the case of a local authority or company to the principal officer .....Tag this Judgment!
Court : Kolkata
Decided on : Nov-25-1976
Reported in : 108ITR954(Cal)
..... account as hereinafter provided in ascertaining the value of his interest in the firm.'the firm was duly registered under the provisions of section 184 of the income-tax act, 1961 (hereinafter referred to as the 'said act') so far as the accounting year 1961 is concerned on the basis of the said partnership agreement in writing. by virtue of the provisions of section ..... said year was made on the basis that the firm was not a registered firm within the meaning of the said act. there were certain other proceedings thereafter, which need not be referred to. being aggrieved by this decision of the income-tax authorities this writ petition was filed. two contentions were raised before his lordship on behalf of the petitioner-firm which ..... the petitioner-firm it was contended that in view of the provisions of section 184(7) of the said act this firm was entitled to be assessed as a registered firm within the meaning of the said act. this contention was rejected by the income-tax officer on the ground that by the death of sri bhattacharjee on the 7th december, 1963, there has ..... with the contentions of mr. das, it is proper to set out the relevant provision of the said act and the rules framed thereunder :section 184 :'(1) an application for registration of a firm for the purposes of this act may be made to the income-tax officer on behalf of any firm, if -(i) the partnership is evidenced by an instrument; and(ii .....Tag this Judgment!
Court : Kolkata
Decided on : Jul-21-1976
Reported in : AIR1977Cal29
..... in : 22itr1(all) . that was a cass which relates to the sale of forest trees of spontaneous growth. it was a reference under the income-tax act made by the income-tax appellate tribunal. it is no use discussing the facts of that case. i quote below the relevant portion :-- 'in the statement of the case, the tribunal has mentioned that it ..... 'agricultural purpose' used in the definition of 'agricultural income' in section 2(1) of the income-tax act. there the said two terms 'agriculture' and 'agricultural purpose' werenot defined in the income-tax act. in paragraph 10 of the judgment we find : 'the terms 'agriculture' and 'agricultural purpose' not having been defined in the ..... this connexion i think it necessary to refer to the decision of the supreme court in the case of commr. of income-tax, west bengal, calcutta v. benoy kumar saha roy reported in : 32itr466(sc) . although that case relates to the income-tax act, yet that decision is instructive in the sense that there has been a long discourse upon the terms 'agriculture' and ..... of our decision. 7. the second decision of the supreme court relied upon by the trial court is commr. of income-tax, bihar and orissa v. sri ramkrishna deo reported in : 35itr312(sc) . that was also a case relating to the income-tax act and in that case also forest trees of spontaneous growth were involved. there the supreme court on consideration of some .....Tag this Judgment!
Court : Kolkata
Decided on : Jun-24-1976
Reported in : 109ITR775(Cal)
..... the amount was credited in the account annually. the question arose whether such interest paid was deductible under section 10(2)(iii) of the indian income-tax act, 1922.29. on these facts, the bombay high court held that mere debit and credit entries in the respective accounts would constitute neither a ..... to the donees were accordingly held to be an allowable deduction under section 10(2)(iii) of the indian income-tax act, 1922.26. the next cited decision is in the case of commissioner of income-tax v. smt. shyamo bibi : 59itr1(all) . this decision was also cited before the tribunal in ..... the shares in the absence of the registration of transfer.31. the next case cited was that of new india colour co. v. commissioner of income-tax : 80itr206(delhi) . here a father and his son were the two partners in the assessee-frrm having twelve annas and four annas shares ..... disapproved the decision in the case of new digvijaysinhji tin factory : 36itr72(bom) .28. the next decision was of virji devshi v. commissioner of income-tax : 65itr291(bom) . the facts were that the assessee was a partner of a firm. his accounts in the firm were debited by an amount ..... transactionfall within clause (d) of section 2(xxiv) of the gift-tax act. the section speaks of 'disposition' which was a bilateral or a multilateral act and not an unilateral act.33. the next decision was bhau ram jawaharmal v. commissioner of income-tax reported in : 82itr772(all) . the facts before the high .....Tag this Judgment!