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Judgment Search Results Home > Cases Phrase: income tax act Court: kolkata Year: 1977 Page 1 of about 77 results (0.033 seconds)

Jul 15 1977 (HC)

Kali Charan Ram Chander Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Jul-15-1977

Reported in : [1978]112ITR405(Cal)

..... deb, j.1. we are concerned in this reference under section 256(2) of the income-tax act, 1961, with the following questions of law :'1. whether, on the facts and in the circumstances of the case, the tribunal ..... tribunal should not have given any opportunity to the parties to adduce further evidence on remand. alternatively, he submits that the tribunal should have directed the income-tax officer to make investigation on those two facts on which he did not make any enquiry as directed by the appellate assistant commissioner and, thereafter, it ..... investigations were necessary in order to determine whether there was any inter-lacing or inter-locking of these two firms. it further observed that the income-tax officer should have obeyed the direction given by the appellate assistant commissioner regarding the investigation of those two facts.9. the tribunal found that the ..... the assessee-firm.5. the same income-tax officer sustained the additions in the de novo assessment proceedings after making findings on six out of those eight facts and opined that his earlier order ..... reference with a finding that it was a branch of the assessee-firm.4. the appellate assistant commissioner set aside the addition and directed the income-tax officer to ascertain eight facts specified in his appellate order and to decide afresh the question as to whether bindawalla trading company was a branch of .....

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Nov 29 1977 (HC)

Commissioner of Income-tax Vs. National Properties Ltd.

Court : Kolkata

Decided on : Nov-29-1977

Reported in : [1978]113ITR793(Cal)

..... sen, j.1. the facts found and/or admitted in this reference under section 66(1) of the indian. income-tax act, 1922, at the instance of the commissioner of income-tax, west bengal i, calcutta, are as follows :messrs. national properties ltd., calcutta, the assessee, is a limited company incorporated ..... two lots at a consideration which was higher than the price of original purchase. the question arose whether the surplus was assessable to income-tax as income arising from the business. the tribunal came to the conclusion that the amount was not a capital accretion but a gain made in ..... future date. the tribunal considered several decisions including a decision of the supreme court in the case of janki ram bahadur ram v. commissioner of income-tax : [1965]57itr21(sc) . the tribunal gathered the total impression from the facts to be that the property was held by the assessee ..... affecting the said property on the 8th december, 1938. thereafter, survey was undertaken and a report submitted on the 25th may, 1946. the income-tax officer came to the conclusion that when the property was purchased on the 14th august, 1946, the assessee was aware of the alignment and the ..... income-tax, 1922.6. being aggrieved by this decision the assessee preferred an appeal before the appellate assistant commissioner, who followed a decision of the tribunal on a similar question in respect of the earlier assessment year 1958-59, and held that the said surplus could not be assessed under section 10 of the act .....

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May 25 1977 (HC)

income-tax Officer, i Ward and ors. Vs. Mahadeo Lal Tulsyan

Court : Kolkata

Decided on : May-25-1977

Reported in : [1978]111ITR25(Cal)

..... a notice under section 148. this contention of the respondent cannot be accepted.21. lastly, it was argued on behalf of the respondent that under section 151(2) of the income-tax act, 1961, it was the commissioner whocould grant permission for the issue of a notice under section 148, but inthe instant case, the permission was granted by the additional commissioner of ..... a partner of the firm, m/s. calcutta hardware stores, and carries on business as a dealer in black-sheet, sheet-cutting and plates and is an assessee under the income-tax act, 1961. the said firm filed its return for the assessment year in question together with copies of the profit and loss account and balance-sheet. in the course of hearing ..... . the rule out of which this appeal arises was made absolute by the learned judge on the same ground.6. section 147 of the income-tax act, 1961, inter alia, provides as follows :' 147. if- (a) the income-tax officer has reason to believe that, by reason of the omission or failure on the part of an assessee to make a return under section 139 ..... allowing deduction of a sum of rs. 10,491 towards the interest to certain creditors. thereafter, bya notice under section 148 of the income-tax act, 1961, dated march 8, 1967, and served on the respondent on march 14, 1967, the income-tax officer sought to reopen the assessment. in his report made in february, 1967, to the commissioner for reopening the assessment for the .....

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Apr 07 1977 (HC)

Asoka Marketing and ors. Vs. Income-tax Officer and ors.

Court : Kolkata

Decided on : Apr-07-1977

Reported in : [1978]111ITR783(Cal)

..... . basu, j. 1. in this rule, the petitioner ashoka marketing ltd., challenges eight notices issued under section 148 of the income-tax act, 1961 (hereinafter referred to as 'the act'). the notices for the assessment years 1953-54, 1954-55, 1955-56 and 1956-57 are all dated the 10th may, 1966 ..... 50,000.' dr. pal relied on the well-settled proposition that before an income-tax officer can issue a notice under section 148 of the act two essential preconditions must be satisfied. first, the income-tax officer must form the belief that income has escaped assessment or has been under-assessed at too low a rate. ..... 's contention on a similar point. reliance was also placed on an unreported judgment of p. k. banerjee j. in the case of khinguriram mahabiram v. income-tax officer (matter no. 752 of 1967) in which the judgment was delivered on the 3rd october, 1972. banerjee j., on similar facts, came to an ..... eight years have been recorded by the two income-tax officers, viz., mr. d.l. brahamchari and mr. k. dasgupta, and although there are eight different reasons recorded for the respective assessment years, ..... be disposed of on one short point. in order to appreciate the point it would be necessary to set out the reasons recorded by the income-tax officers before the issue of the eight impugned notices. before i set out the recorded reasons i may mention that although the reasons for these .....

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Jul 14 1977 (HC)

Bharati Pvt. Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Jul-14-1977

Reported in : [1978]111ITR951(Cal)

..... unserved. the income-tax officer was not satisfied with the genuineness of those loans and accordingly he treated them as the assessee's ..... the alleged confirmatory letters from those parties before the income-tax officer in support of those two loans. the assessee's case was that rs. 15,000 was advanced by lakshmichand paramanand and rs. 5,000 was advanced by lachmandas lunidram. the income-tax officer served notices under section 131 of the income-tax act on the alleged creditors but those notices came back ..... deb, j.1. the following question under section 256(2) of the income-tax act, 1961, is involved in this reference:'whether the conclusion arrived at by the tribunal that the loans in question represented the assessee's income from undisclosed sources was perverse in the sense that no reasonable man could come to the above conclusion ?'2. the assessee is a ..... income from undisclosed sources.3. the appeal filed by the assessee was dismissed by the appellate assistant commissioner before whom the .....

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Aug 26 1977 (HC)

New India Construction Co. Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Aug-26-1977

Reported in : [1979]120ITR763(Cal)

..... had not been actually able to satisfy the terms of the contract and where the estimates were to be based by applying the provisions to section 13 of the indian income-tax act, 1922, it cannot be said, in our opinion, that the tribunal was not justified in upholding the decision of the appellate assistant commissioner in the manner as it did. in ..... mind, the total amount of profit had to be computed by applying the proviso of section 13 of the indian income-tax act, 1922. the rate of profit had also to be determined by applying the proviso to section 13 of the indian income-tax act, 1922. as the tribunal had pointed out that if the normal experience and expectation of a contractor as to how ..... of the certified copy of the order along with the memorandum of appeal. counsel urged that, reading section 253(3) and (5) of the i.t. act and rule 9(1) and (2) of the income-tax (appellate tribunal) rules, there cannot be any doubt that the requirement of these provisions for filing of the certified copy along with the memorandum of appeal ..... by it. the assessee neither obtained any order for acceptance of its appeal under rule 9(2) of the income-tax (appellate tribunal) rules nor applied for extension of time for filing of the appeal under section 253(5) of the i.t, act, 1961. therefore, according to counsel, the tribunal was right in its decision that as the appeal became competent on .....

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Nov 29 1977 (HC)

Katihar Jute Mills (P.) Ltd. Vs. Commissioner of Income-tax (Central A ...

Court : Kolkata

Decided on : Nov-29-1977

Reported in : [1979]120ITR861(Cal)

..... assessee and determine the tax payable thereon......but whether the receipt can be considered as taxable ..... income is quite another matter, and consideration of that question leads into the realm of law. if the income-tax officer assesses an assessee ..... shown the income in his return is erroneous. the commissioner was bound to apply his mind to the question whether the petitioner was taxable on that income......anassessee is liable to tax, only, upon such receipt as can be included in his total income and is assessable under the income-tax act. the law empowers the income-tax officer to assess the income of an ..... (1) treatment of the loss in speculative transactions, and (2) certain disallowances out of expenses. the aac disposed of the appeal in the following terms :' before the income-tax officer the contract papers were not produced. these are now produced. i have examined the account books also. i find that these are genuine business transactions and losses. however, .....

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Jan 20 1977 (HC)

Bengal Assam Steamship Co. Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Jan-20-1977

Reported in : [1978]114ITR327(Cal)

..... of the case, the tribunal was justified in law in holding that the period of limitation under section 154 of the income-tax act, 1961, should be computed from the order of the income-tax officer under section 49a of the indian income-tax act, 1922, dated march 30, 1961, and not from his order dated september 4, 1963, under section 154 of the ..... of the case, the tribunal was justified in law in holding that the period of limitation under section 154 of the income-tax act, 1961, should be computed from the order of the income-tax officer under section 49a of the indian income-tax act, 1922, dated, february 22, 1961, and not from his order dated september 4, 1963, under section 154 of ..... were time-barred. the income-tax officer, however, rectified certain mistakes on february 4, 1966. the assessee filed appeals from those orders ..... to the assessee in respect of its pakistan income. on september 4, 1963, the income-tax officer rectified his previous order.4. on october 22, 1965, the assessee applied for rectification of certain mistakes in the assessment orders. the income-tax officer rejected those applications on february 26, 1966, under section 154 of the income-tax, act, 1961, on the ground that those applications .....

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Aug 17 1977 (HC)

Mannalal Bari Vs. Inspecting Assistant Commissioner of Income-tax, Acq ...

Court : Kolkata

Decided on : Aug-17-1977

Reported in : [1978]114ITR329(Cal)

tarun kumar basu, j.1. although a large number of points have beentaken in this petition challenging a notice issued under section 269d(1) ofthe income-tax act, 1961, dated the 4th july, 1974, by which proceedingswere sought to be initiated for the acquisition of a property which is4b jackson lane, calcutta, it seems to me that the ..... matter can be disposed ofon a short point without going into any other issues. it appears from thesale deed of which the income-tax authorities must have had inspection andperusal that the petition for setting aside the auction sale by which thevendor of the petitioner acquired the property in question is pending andhas not ..... the petitioner in answer thereto, it is recorded that the allegations contained in that affidavit of bhudhar chandra banerjee are not admitted by the petitioner as well as by the income-tax authorities.4. in the result, this application succeeds and the rule is made absolute.5. there will be a writ in the nature of mandamus directing the respondents to forthwith .....

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Apr 29 1977 (HC)

Cachar Plywood Ltd. Vs. Income-tax Officer, a Ward and anr.

Court : Kolkata

Decided on : Apr-29-1977

Reported in : 81CWN699,[1978]114ITR379(Cal)

..... the jurisdiction to assess, particularly in view of the authority and power conferred on court in such 'other' proceeding. the supreme court observed, while considering section 132(5) of the income-tax act, 1961, as follows :'the court in exercising its powers under article 226 has to mould the remedy to suit the facts of a case. if in a particular case a ..... own has no jurisdiction to extend the period of limitation in absence of requisite provision in that regard. we have already seen that subsection (3) of section 153 of the income-tax act, 1961, is a substantive provision of law. it provides, inter alia, in respect of a proceeding before any court, otherwise than by way of appeal or reference under the ..... : [1977]109itr470(cal) whereby the connectedrule was discharged.2. the petitioner-appellant is an assessee under the income-tax act, 1961, and was being duly assessed till the assessment year 1969-70 by the income-tax officer, 'a' ward, karimganj. the central board of direct taxes passed the following order in respect of the assessee on december 23, 1972.'fno. 185/141/72-it(ai)central ..... advocate-general submits that while passing the aforesaid order, the court should also pass appropriate directions, under section 153(3) of the act, otherwise it would no longer be possible for the original income-tax officer to make assessments of the income of the appellant for the assessment years 1970-71, 1972-73, 1973-74 and 1974-75, which under sub-section (1) of .....

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