Skip to content


Judgment Search Results Home > Cases Phrase: income tax act Court: kolkata Year: 1978 Page 2 of about 240 results (0.189 seconds)

Apr 04 1978 (HC)

Commissioner of Income-tax Vs. National Sound Studio (P.) Ltd.

Court : Kolkata

Decided on : Apr-04-1978

Reported in : [1979]117ITR422(Cal)

..... section 147(b) of the income-tax act, 1961, was validly issued for the assessment year 1963-64 ?'8. mr. suhas sen, learned counsel for the revenue, contended before us at the hearing that the order of the ..... arise from its aforesaid order.6. for the assessment year 1962-63 ;'whether, on the facts and in the circumstances of the case, notice under section 147(b) of the income-tax act, 1961, was validly issued for the assessment year 1962-63 ?'7. for the assessment year 1963-64 :'whether, on the facts and in the circumstances of the case, notice under ..... the assessment years 1962-63 and 1963-64 was assessed to income-tax under the head 'business'. a succeeding ito found later that the said rental should have been assessed under the head 'income from house properties.' accordingly, he decided to reopen the assessments under section 147(b) of the i.t. act, 1961, and recorded the following reasons for such reopening :'perused records ..... assessment. the explanation 1 to section 147 makes the position clear. under the explanation, it will be deemed that income chargeable to tax has escaped assessment where such incomehas been under-assessed or has been made the subject of excessive relief. under the act, income derived from the source 'business' has to be computed after allowing various deductions which are not allowable where the .....

Tag this Judgment!

Apr 11 1978 (HC)

Commissioner of Income-tax Vs. Anna Art Press (P.) Ltd.

Court : Kolkata

Decided on : Apr-11-1978

Reported in : [1979]117ITR821(Cal)

..... payment of gratuity of rs. 24,000 by theassessee-company to its ex-manager is deductible in computing its businessincome ?'is the question referred by the income-tax appellate tribunal under section 256(1) of the income-tax act, 1961, to this court for answer.2. the facts of the case, in a nutshell, may be stated as follows :the assessee is a private limited ..... company and derives income from business in running a printing press. the assessment year involved is 1966-67, the corresponding accounting year being the year ending on 31st ..... . j. hallen, who retired after putting in a service of 20 years with the assessee-company. the assessee claimed the payment as a deduction in the computation of its taxable income for the assessment year 1966-67. the ito disallowed the claim on the ground that no appointment letter was produced before him, that the payment was first of its kind ..... be assailed by mr. b. k. bagchi, learned counsel for the revenue, by placingreliance on the decision of the supreme court in the case of gordonwoodroffe leather manufacturing co. v. cit : [1962]44itr551(sc) . the proper test for the payment of gratuity as said by the supreme court is whether the payment was made as a matter of practice which affected .....

Tag this Judgment!

Apr 19 1978 (HC)

Commissioner of Income-tax Vs. Sarda Rice and Oil Mills

Court : Kolkata

Decided on : Apr-19-1978

Reported in : [1979]117ITR917(Cal)

..... the circumstances of the case, the tribunal was right in holding that the provisions of section 271(1)(c) of the income-tax act, 1961, are not attracted ?'10. it does not appear to us that the tribunal deleted the penalties on the ground that the same had been imposed ..... the facts and in the circumstances of the case, and in particular of the fact that the assessee's petition to the commissioner of income-tax under section 271(4a) of the income-tax act, 1961, was still pending with the commissioner when order under section 271(1)(c) was passed by the inspecting assistant commissioner of ..... the above view of the matter, the order of the inspecting assistant commissioner levying penalty under section 271(1)(c) of the income-tax act, 1961, was quashed.'9. the question suggested by the commissioner in the reference application was as follows:'whether, on the facts and in ..... income-tax, the tribunal was right in coming to the conclusion that provisions of section 271(1)(c) were not attracted ?'2. the facts ..... sen, j.1. in this reference, at the instance of the commissioner of income-tax, west bengal-ii, calcutta, the tribunal, under section 256(1) of the i.t. act, 1961, has drawn up a statement of case and referred the following question as a question of law arising from its order :'whether .....

Tag this Judgment!

Jun 06 1978 (HC)

N. Sciandra Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Jun-06-1978

Reported in : [1979]118ITR675(Cal)

..... ?' 2. whether, on the facts and in the circumstances, the tribunalwas justified in holding that the daily allowance of rs. 70 per day paid tothe assessee was not exempt from tax under section 10(14) of the income-tax act, 1961? 3. in any event, whether the tribunal was right in rejecting the assessee's claim that there could be no grossing up of ..... -62. the commissioner discharged all the assessments and the question which was stated was whether the words 'free of income-tax' in the agreement were not hit by the income-tax act and whether the said of 35 was the net amount after deduction of tax or the gross sum which had to be assessed. the house of lords upheld the contentions of the assessee and ..... ansaldo's foreign personnel stationed at site in india in connection with the contract. in case such exemption for payment of tax asked for by ansaldo would not be granted by the government of india under the provisions of income-tax act, the taxes would be to the account o.f the corporation. 2.6. for the services of the personnel referred to in 3 ..... by the corporation. provided, however, that such liability of the corporation to pay taxes of the aforementioned foreign personnel would only arise if the requisite exemption for payment of income-tax asked for by ansaldo but would not be granted by the government of india under provisions of the income-tax act. the corporation would render all possible assistance in the matter of obtaining such exemptions .....

Tag this Judgment!

Feb 06 1978 (HC)

Ondal Investments Co. Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Feb-06-1978

Reported in : [1979]116ITR143(Cal)

..... to a profit or to a liability is not sufficient to make the profit to accrue or the liability to be incurred for the purposes of the income-tax act.' (b) cit v. a. gajapathi naidu : [1964]53itr114(sc) . the facts in this case were that the assessee having supplied bread to a government ..... arose to the assessee in a particular accounting year he shall include the said income in the assessment of the succeeding assessment year. no power is conferred on the income-tax officer under the act to relate back an income that accrued or arose in a subsequent year to another earlier year on the ..... sum of rs. 1,47,089.82 be deleted from the totalincome.9. the revenue went up on further appeal from this order to the income-tax appellate tribunal. it was contended before the tribunal that as the assessee maintained its accounts on mercantile basis and had brought in its accounts a ..... ground that the said income arose out of an earlier transaction.' (c) cit v. swadeshi cotton & flour mills : [1964]53itr134(sc) ..... . in this case, the assessee had paid an amount as profit bonus to its employees for the calendar year 1947 in terms of an award made on the 13th january, 1949, under the industrial disputes act .....

Tag this Judgment!

Jan 27 1978 (HC)

Commissioner of Income-tax Vs. Universal Fertiliser Co. P. Ltd.

Court : Kolkata

Decided on : Jan-27-1978

Reported in : [1978]114ITR47(Cal)

..... the opinion that the tribunal was justified in excluding the same and in arriving at the conclusion that the provisions of section 23a(1) of the indian income-tax act, 1922, were not attracted to the instant case.5. the question is, therefore, answered in the affirmative and in favour of the assessee. there will ..... the two years in place of the figures taken by him.' in those circumstances the question is whether the provisions of section 23a of the indian income-tax act, 1922, were attracted to this case and the company should have declared a dividend. we have noticed that if the ultimate addition of a sum ..... , inclusive of a sum of rs. 20,500 representing certain loans, which the assessee had failed to prove. the income-tax officer, thereafter, passed an order under section 23a(1) of the indian income-tax act, 1922. this however, was passed on the basis of figures of assessment as made under section 144. the assessee preferred ..... that for the purpose of determination of commercial profits under the provisions of section 23a(1) of the indian income-tax act, 1922, the sum of rs. 11,725 added back as the assessee's income from undisclosed sources, should be excluded from the same and, as such, in arriving at the conclusion that ..... the assessee for the purpose of assessment. but mere failure, in the background of the provisions of section 23a of the indian income-tax act, 1922, would not, in our opinion, make the amounts added back, in the absence of any other evidence, available for the .....

Tag this Judgment!

Mar 06 1978 (HC)

Hindusthan Sanitary Ware and Industries Ltd. Vs. Commissioner of Incom ...

Court : Kolkata

Decided on : Mar-06-1978

Reported in : [1978]114ITR85(Cal)

..... case, the income-tax appellate tribunal was justified in merely setting aside the order charging interest under section 216 of the income-tax act, 1961, and sending the issue back to the income-tax officer for consideration instead of annulling the order altogether after having held that the said order was bad ..... for consideration instead of annulling the order. the tribunal has plenary powers as would be evident from the provisions of section 254 of the income-tax act, 1961. the section authorises the tribunal to pass any order on the subject-matter of the appeal. the tribunal has power to pass 'such orders thereon as it thinks fit '. ..... discretionary and not obligatory. therefore, the tribunal set aside the order and then directed, 'send back the matter to the income-tax officer for fresh consideration in the light of the above observations.'5. upon this under section 256(1) of the income-tax act, 1961, the following question has been referred to this court:'whether, on the facts and in the circumstances of the ..... sabyasachi mukharji, j. 1. we are concerned in this reference with the assessment years 1969-70 and 1971-72. the income-tax officer issued a notice under section 210 of the income-tax act, 1961, to the assessee during the financial year 1968-69, demanding payment of rs. 3,61,000. thereupon, the assessee filed an estimate on 21st august, 1968, under section 212. .....

Tag this Judgment!

Jan 10 1978 (HC)

Commissioner of Income-tax Vs. Chloride and Exide Batteries P. Ltd.

Court : Kolkata

Decided on : Jan-10-1978

Reported in : [1978]114ITR142(Cal)

..... of rs. 12,500 to the daughter of the deceased and claimed deduction of this amount in its assessment for the assessment year 1965-66 under section 37 of the income-tax act, 1961. the tribunal held that the payment was an admissible expenditure under section 37. on a reference, the gujarat high court applied the tests laid down in gordon woodroffe leather ..... manufacturing co. : [1962]44itr551(sc) was applied and it was held that this payment of gratuity was not allowable as a deduction under section 10(2)(xv) of the indian income-tax act, 1922.(c) teekoy rubbers (india] ltd. v. state of kerala : [1966]60itr350(ker) . in this case, a sum of rs. 15,000 was paid to the widow of the superintendent ..... of rs. 40,000 paid to the employee on his retirement from the services of the assessee was not an admissible deduction under section 10(2)(xv) of the indian income-tax act, 1922.17. it was contended on behalf of the assessee that the said sum had been paid as a matter of commercial expediency and in the interest of the assessee ..... in gordon's case : [1962]44itr551(sc) and was admissible as a deduction under section 37 of the income-tax act, 1961, corresponding to section 10(2)(xv) of the earlier act of 1922.26. we do not find any basis for the finding of the income-tax officer that this payment was not exclusively out of business consideration. the contention of mr. sengupta that the .....

Tag this Judgment!

Mar 22 1978 (HC)

Reform Flour Mills P. Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Mar-22-1978

Reported in : [1978]114ITR227(Cal)

..... business or profession' or 'income from other sources' shall be computed in, accordance with the method of accounting regularly employed by the assessee. this section ..... in shiv prasad ram sahai v. 'commissioner of income-tax : [1966]61itr124(all) . he also cites the case of kanwalnen hamir singh v. commissioner of income-tax : [1938]6itr675(all) , in support of his contention that an assessee cannot suddenly change the method of accounting to avoid his tax liability.9. now, section 145(1) of the income-tax act, 1961, provides that the 'profits and gains of ..... deb, j. 1. this is a reference under section 256{1) of the income-tax act, 1961. the question before us is as follows :' whether, on the facts and in the circumstances of the case, the tribunal was right in holding that the interest on loan ..... regularly in view of its aforesaid altered method of accounting, and, in such circumstances, as stated in section 145(2) of the act, the income-tax officer may make an assessment in the manner as provided in section 144 of the act.14. since the relevant facts as indicated in the foregoing paragraph have not been ascertained by the tribunal, we are unable to .....

Tag this Judgment!

Mar 17 1978 (HC)

M.M. Thapar Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Mar-17-1978

Reported in : [1978]114ITR331(Cal)

..... 1964-65. the amount of such deposits was prescribed-on the basis of percentages from 5 to 12 1/2 of the adjusted total income of the assessee. this adjusted total income meant total income computed under the income-tax act without making allowance for annuity deposit. option was given to taxpayers to make such deposit or not, but, once exercised, such option was ..... initiated the present reference under section 256(1) of the income-tax act, 1961, and the following questions have been referred :'1. whether, on the facts and in the circumstances of the case, -the appellate tribunal was right in holding that ..... the claim for deduction of interest on borrowings to pay annuity deposit the tribunal did not accept the same as an allowable deduction under section 12(2) of the indian income-tax act, 1922, holding that the interest paid had no connection with the interest earned from annuity deposits. the appeals of the assessee were dismissed.4. being aggrieved the assessee has ..... in question no. 2, we have to consider the scheme of the provisions relating to annuity deposits. the scheme was originally introduced by the finance act, 1964, which incorporated chapter xxii-a in the income-tax act, 1961. under that chapter, taxpayers of certain categories were required to make deposits known as annuity deposits for assessment years commencing from the assessment year .....

Tag this Judgment!


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