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Judgment Search Results Home > Cases Phrase: income tax act Court: kolkata Year: 1980 Page 1 of about 130 results (0.063 seconds)

Sep 25 1980 (HC)

Commissioner of Income-tax Vs. Smt. Prativa Devi

Court : Kolkata

Decided on : Sep-25-1980

Reported in : [1982]135ITR704(Cal)

..... distributed is not prohibited. a taxpayer may resort to a device to divert the income before it accrues or arises to him. effectiveness of the device depends not upon considerations of morality, but on the operation of the income-tax act. legislative injunction in taxing statutes may not, except on peril of penalty, be violated, but it may lawfully be circumvented.'16. lastly, mr. roy ..... relies on the decision in the case of henriksen (h.m.inspector of taxes) v. grafton hotel ltd. [1942] 24 t.c. 453, and specially aportion ..... am concerned with in this case is whether this company, as aseparate entity, is conducting its own trade in respect of which it isassessed for its own income-tax liability. in this transaction the companywas not acting in the course of its own trade, which is the subject of taxation, but out of that course. these transactions, when seen in theircontext of the ..... in regard to the second house constituted a liferent, and that the additional assessments made to include the outgoings paid by the trustees, had increased by the appropriate addition for income-tax, were properly made. he draws our attention to the passage of a judgment of lord sands at page 478, which reads as follows :'the appellants contended further that the lady .....

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Aug 04 1980 (HC)

Dilip Kumar Mitra Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Aug-04-1980

Reported in : [1983]141ITR358(Cal)

..... the case, the tribunal was justified in law in directing the imposition of any penalty under section 271(1)(c) read with section 274(2) of the income-tax act, 1961, on the assessee?'2. the assessment year involved was 1964-65. the assessee was an individual. the business, according to the return filed, was ..... in the appeal for that yearit was stated on behalf of the assessee that there was very little evidenceavailable to contest the action of the income-tax officer treating the income as belonging to the assessee. the position in 1963-64 was similar and before us also for this year no evidence has been led ..... to be one owned by the assessee. there were also certain discrepancies noticed on the signature on some bills which, according to the income-tax officer, would go to link the assesses with the concern. for these reasons he considered the concern to belong to the assessee in the assessment year ..... this employee, who had taken the entire premises on rent at rs. 90 p.m. when his salary was only rs. 70 p.m. the income-tax officer also examined some of the creditors of the concern and it was stated by some of them that they knew the concern of hindusthan trading corporation ..... we prefer to quote here :' the case of the assessee as well as that of his wife, bhadra mitra, were being assessed by the same income-tax officer. there is no merit in the plea that there is any double assessment since bhadra mitra's assessment for this year has been cancelled and both .....

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Sep 12 1980 (HC)

B.C. Paul Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Sep-12-1980

Reported in : (1981)20CTR(Cal)275,[1982]136ITR395(Cal)

..... ]60itr493(sc) . 6. lakshmiratan cotton mills co. ltd. v. cit : [1969]73itr634(sc) . these cases were also cited for similar observations by the supreme court. 7. mahmudabad properties (p.) ltd. v ..... the burden is on the department to prove that the income sought to be taxed is not agricultural income. the law is well settled that it is for a person who claims exemption to establish it, and there is no reason why it should be otherwise when the exemption is claimed is under the income-tax act.' 5. r. b. seth champalal ramswarup v. ci7 : [1966 ..... c.k. banerji, j.1. this reference under section 256(2) of the i.t. act 1961, arises out of the income-tax assessment of sri bhupesh chandra paul also known as b. c. paul, the assessee, for the assessment year 1965-66.2. the facts found and/or admitted in these proceedings ..... alleged or proved, the tribunal does not indulge in conjectures, surmises or suspicions.' 4. cit v. ramakrishna deo : [1959]35itr312(sc) . here the question was if the income derived by the assessee from forests by sale of timber was agricultural income and exempt from tax under the indian i.t. act, 1922. on a reference the orissa high court held that the onus was upon .....

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Dec 22 1980 (HC)

James Finlay and Co. Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Dec-22-1980

Reported in : (1981)22CTR(Cal)289,[1982]137ITR698(Cal)

..... the english statutes (vide the observations in the case of cit v. singari bai : [1945]13itr224(all) ).'20. the real principle seems to be that the root or the germ as to ..... general rule that receipt is the sole test of taxability and income which has accrued, but has not been received, cannot be brought to charge, and, secondly, that it is the income of the year of receipt and not of the year when it arises or accrues, would be misleading under the income-tax act, which contains provisions which are not to be found in ..... year out of the receipts of previous years which have been held in suspense and no part of which has previously been returned as income. their lordships do not find that the income-tax officer in the present case has acted in any way illegally in computing the profits of the transactions in question for the year 1332 fasli by taking into account both ..... lesser amount alone was taxable. the supreme court reiterated that income-tax was a levy on income and though the i.t. act took into account two points of time at which the liability to tax was attracted, viz., the accrual of the income or its receipt, yet the substance of the matter was the income. if income did not result at all, there could not be a .....

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Apr 16 1980 (HC)

Commissioner of Income-tax Vs. Wilh Wilhelmsen Lines Ltd.

Court : Kolkata

Decided on : Apr-16-1980

Reported in : [1980]126ITR318(Cal)

..... whether, on the facts and in the circumstances of the case, the tribunal was right in holding that the provisions of section 34(1)(a) of the indian income-tax act, 1922, had not been correctly invoked in this case 2. if the answer to question no. (1) is in the negative, then, whether on the ..... and in the circumstances of the case, the tribunal was right in holding that the assessee was entitled to get depreciation under rule 8 of the income-tax rules even in respect of ships which had formed part of the assessee's fleet for more than 20 years ?' 4. the second question would ..... the depreciation had correctly been worked out by the appellant and he had, therefore, accepted the returned incomes for different years. this being the position, it cannot be said that any income chargeable to income-tax has escaped assessment by reason of the failure on the part of the appellant company to disclose fully and ..... fleet for more than 20 years. but this view of the ito was not upheld by the income-tax appellate tribunal in the appeal for the assessment year 1958-59. therefore, there was no escapement of income either. on this ground, the aac set aside the orders of the ito. thereafter, there was ..... to disclose fully or truly any material or relevant fact at the time of original assessment and whether in consequence of such failure or omission any income had escaped assessment. the tribunal will decide and send a supplementary statement of case to this court within four months from the receipt of this .....

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Jul 03 1980 (HC)

income-tax Officer and ors. Vs. Shriram Bearings Ltd.

Court : Kolkata

Decided on : Jul-03-1980

Reported in : [1987]164ITR419(Cal)

..... and sale between principal and principal in order to bring the transaction within the purview of the expression 'business connection ' within the meaning of section 9(1)(i) of the income-tax act, 1961. thus, it appears that the law on the point is fairly well settled. the question whether there is business connection or not will depend upon the facts and circumstances ..... the contribution other than that part paid as royalties (royalties having been allowed as deduction) was admissible as an allowance under clause (xii) of section 10(2) of the indian income-tax act, 1922. it was held by the supreme court that the contribution was not allowable under clause (xii) of section 10(2) as expenditure laid out or expended on scientific research ..... on certain remuneration payable by the respondent company to n.s.k. in order to bring the case within the provision of section 9 of the income-tax act, 1961, it has to be shown that the income of the said sum of 1,65,000 u.s. dollars, being the consideration for the sale of trade secrets or technical know-how, is the ..... of the purchase of the trade secrets or the technical know-how was not taxable in india. the income-tax officer made an order dated august 16, 1971, under section 195(2) of the income-tax act, 1961. by the said order, the income-tax officer held that the income of the non-resident, that is, n.s.k., had accrued in india as a result of supply .....

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Jul 28 1980 (HC)

S.P. Agarwalla Alias Sukhdeo Prasad Agarwalla Vs. Income-tax Officer, ...

Court : Kolkata

Decided on : Jul-28-1980

Reported in : [1983]140ITR1010(Cal)

..... the necessary approval of the commissioner of income-tax, west bengal iii, i duly issued the said notice under section 148 of the income-tax act, 1961, to the assessee for the said assessment year 1962-63 ..... fully and/or truly all material facts necessary for the said assessment the income chargeable to tax for the said assessment year 1962-63 had escaped assessment and/or had been under-assessed. i, therefore, duly sent the proposal under section 147 of the income-tax act, 1961, to the commissioner of income-tax, west bengal iii, along with the letter dated 26th august, 1969. after obtaining ..... . act, 1961. the appellant was directed to file a return of his income for the said assessment year within 30 days of the date of the service of the notice. further, it was stated in the notice that the necessarysanction of the commissioner of income-tax, west bengal-iii, had been obtained before the notice ..... challenged the validity of the notice dated september 26, 1969, issued by the ito, respondent no. 1, under section 148 of the i.t. act, 1961. in the notice it was stated by the ito that the income of the appellant chargeable to tax for the assessment year 1962-63 had escaped assessment within the meaning of section 147 of the i.t .....

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Dec 09 1980 (HC)

Chunilal Mulji Motani and ors. Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Dec-09-1980

Reported in : [1983]139ITR166(Cal)

..... this section and of schedule ii, the expresion 'total income' means total income as determined for the purposes of income-tax or super-tax, as the case may be, in accordance with the provisions of the indian income-tax act, 1922. this can only refer to the indian income-tax act, 1922, as it stood amended on the date of the indianfinance act, 1939, and necessarily includes the alterations made by the ..... law in their conclusion that the indenture of settlement dated 21st may, 1960, was a revocable transfer within the meaning of section 61, section 62 and section 63 of the income-tax act, 1961 ?2, if the answer to the first question is in the negative and in favour of the assessee, whether the inclusion and assessment of the entire ..... india. their lordships may refer to the able judgment of rankin c. j. in behari lal mullick v. commissioner of income-tax [1927] 2 itc 328 (cal) with which they agree.in the second place, it should be remembered that the indian income-tax act, 1922, as amended from time to time, forms a code, which has no operative effect except so far as it ..... their lordships that under the express terms of section 3 of the indian income-tax act, 1922, the subject of charge is not the income of the year of assessment, but the income of the previous year. this is in direct contrast to the english income-tax acts, under which the subject of assessment is the income of the year of assessment, though the amount is measured by a .....

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Jul 10 1980 (HC)

Becker Gray and Co. Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Jul-10-1980

Reported in : (1980)19CTR(Cal)59,[1983]139ITR293(Cal)

..... (5) whether, the finding of the tribunal that loss of rs. 39,824 arose out of a speculative transaction within the meaning of section 43(5) of the income-tax act, 1961, and was, therefore, not allowable, is unreasonable and perverse ?' 17. at the outset both the parties addressed us as to the scope of a court of ..... case. their lordships observed:' it is well established that the high court is not a court of appeal in a reference under section 66 of the indian income-tax act, 1922, and it is not open to the high court in such a reference to embark upon a reappraisal of the evidence and to arrive at findings ..... reserve bank's restrictions on remittance in so many ways. thus, it was apparent that the assessee was not following the cash system of accountancy with 310 income tax reports [vol. 139 regard to its export sales and the part of the sale price retained in the usa represented a part of the assessee's sale ..... such the ito was directed to compute the portion of sales price, retained by the assessee in the usa, which would be included as the assessee's income.44. for the reasons stated above, we are of the opinion that the tribunal was right in holding that the assessee had not kept its accounts on ..... the ito and he would be at liberty to ascertain the kept back portion of sales which was to be included in the computation of assessee's income under the year of assessment. the assessee would be at liberty to place his case in true perspective before the ito. in this view of the matter .....

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Aug 18 1980 (HC)

Commissioner of Income-tax, Central Vs. Mugneeram Bangur and Co.

Court : Kolkata

Decided on : Aug-18-1980

Reported in : [1983]139ITR414(Cal)

..... the year beginning on the 1st day of april, 1921 ; (b) to a business, profession or vocation on which income-tax was at any time charged in the bands of a company under the indian income-tax act 1886 (ii of 1886), or on which income-tax would have been charged in the hands of a company for the assessment year ending on the 31st day of ..... shall be given of the difference. (4) where the person who was at the commencement of the indian income-tax (amendment) act, 1939 (vii of 1939), carrying on any business, profession or vocation on which tax was at any time charged under the provisions of the indian income-tax act, 1918, is succeeded in such capacity by another person, the change not being merely a change in ..... broken up under different heads only for the purpose of computation of the total income. by that breaking up the income does not cease to be the income of the business, the different heads of income being only the classification prescribed by the income-tax act for computation. the ratio of this decision applies to the present case and it must accordingly be held that the assessee ..... -out sub-section (3) as well as sub-section (4) of section 25 of the indian i.t. act, 1922. these provided as follows :'(3) where any business, profession or vocation on which tax was at any time charged under the provisions of the indian income-tax act, 1918 (vii of 1918), is discontinued, then, unless there has been a succession by virtue of which .....

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