Skip to content


Judgment Search Results Home > Cases Phrase: income tax act Court: kolkata Year: 1985 Page 1 of about 140 results (0.138 seconds)

Jan 07 1985 (HC)

Oil India Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Jan-07-1985

Reported in : (1986)50CTR(Cal)355,[1986]159ITR151(Cal)

..... j.1. for the assessment year 1968-69, the following question of law was referred to this court 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 drains, culverts and ..... roads were not buildings or plant and as such no depreciation was admissible thereon 'in the assessment for the assessment year 1968-69, the income-tax officer, following his assessment order for earlier years, rejected the claim of the assessee-company for the grant of depreciation allowance in respect of ..... , drains, culverts, swimming pools, parks, fencing, etc. the appellate assistant commissioner, following his order in respect of earlier years, directed the income-tax officer to go into the details and allow depreciation wherever it may be due on the lines and hi the light of the principles enunciated by ..... company whereby the order of the appellate assistant commissioner had been reversed and that of the income-tax officer has been restored. following its earlier order, the appellate tribunal similarly restored the order of the income-tax officer on this point for the assessment year 1968-69.2. for the assessment years ..... business of the assessee and whether depreciation as claimed by the assessee is admissible or not. the said decision is reported in oil india ltd. v. cit : [1978]114itr323(cal) .3. for the assessment year 1969-70, at the instance of the assessee, the following question was referred to this court .....

Tag this Judgment!

Mar 04 1985 (HC)

Commissioner of Income-tax Vs. KelvIn Jute Co. Ltd.

Court : Kolkata

Decided on : Mar-04-1985

Reported in : (1986)50CTR(Cal)230,[1986]159ITR770(Cal)

..... ajit k. sengupta, j. 1. this is a reference under section 256(1) of the income-tax act, 1961, for the assessment-year 1969-70. for the said assessment year, the assessee claimed development rebate of rs. 2,75,536. the income-tax officer disallowed the assessee's claim as no development rebate reserve had been created. when the matter came up in appeal before the ..... condition for carrying over the development rebate. the tribunal accordingly held that the assessee was entitled to development rebate to be carried over to the following years and directed the income-tax officer to do so. on the aforesaid facts the following questions of law have been referred to this court:'1. whether, on the facts and in the circumstances of the ..... , the assessee should have created development rebate reserve and as that was not done, the assessee was not entitled to the development rebate. he thus confirmed the action of the income-tax officer. the assessee appealed to the tribunal. the tribunal considered the respective contentions of the parties and observed that it had been held by the calcutta high court in the ..... appellate assistant commissioner, it was submitted before him that as there was nil income assessed, no development rebate reserve could be created and the income-tax officer should have computed the develop-ment rebate to be carried forward to be set off against the profits of the future years on the .....

Tag this Judgment!

Apr 10 1985 (HC)

Commissioner of Income-tax Vs. Mrs. Hasina Begum (Wife) and ors.

Court : Kolkata

Decided on : Apr-10-1985

Reported in : [1986]158ITR215(Cal)

..... answer to question no. one is in the negative, then on a correct interpretation of the provisions of section 64(iii) of the income-tax act, 1961, the tribunal was justified in holding that the income from property at 19/1, balu hakak lane, was not assessable in the hands of the assessee ?' 2. the facts of this ..... ajit kumar sengupta, j. 1. for the assessment year 1970-71, the tribunal has referred the following questions of law under section 256(1) of the income-tax act, 1961 : ' 1. whether, on the facts and in the circumstances of the case, the tribunal had evidence to hold that the sum of rs ..... she earned the income of rs. 1,50,000 in the course of several years out of the agricultural properties but offered the same for assessment to ..... august 28, 1970: 'i am directed to refer to your letter dated july 13, 1970, in which you have requested the commissioner of income-tax, west bengal-i, calcutta, to intimate the income-tax officer, g-ward, dist. iii(i), to assess you as per your return filed immediately after the settlement and to say that the subject ..... in the total income of the assessee. the two plots of land were acquired at a cost of rs. 28,000 and rs. 14.000 in 1956-57, and thus the total cost of land was rs. 42,000. smt. hasina begum filed a disclosure petition under section 271(4a) of the income-tax act, 1961, stating that .....

Tag this Judgment!

Feb 15 1985 (HC)

Assam Oil Co. Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Feb-15-1985

Reported in : [1987]168ITR159(Cal)

..... two substantial questions of general importance arise from the judgment:' (a) whether a decision of a high court can constitute information within the meaning of section 147(b) of the income-tax act, 1961, when the same is subsequently reversed by the supreme court ?(b) whether in a reassessment under the said section 147(b), the ..... income-tax officer can cover escapement of assessment not related to or connected with the information on which such reopening had been made or with any subsequent information which might have come ..... ]101itr46(guj) ; (d) madras auto service v. ito, : [1975]101itr589(mad) ; (e) new kaiser-i-hind spinning & weaving co. ltd. (in liquidation) v. cit : [1977]107itr760(bom) and (f) r. kuppuswamy mudaliar & sons v. board of revenue (commercial taxes), [1980] 45 stc 152 (mad).3. the pronouncements in the above decisions do not appear to be uniform.4. we certify that this ..... are of general importance. decisions of different high courts relevant to the questions were cited by learned advocate for the assessee as noted hereafter:(a) al. vr. veerappa chettiar v. cit, : [1973]91itr116(mad) ; (b) parshuram pottery works co. ltd. v. d.r. trivedi, wto : [1975]100itr651(guj) ; (c) karamchand premchand pvt. ltd. v .....

Tag this Judgment!

Dec 05 1985 (HC)

Commissioner of Income-tax Vs. Shinwa Kaium Kaisha Ltd.

Court : Kolkata

Decided on : Dec-05-1985

Reported in : [1987]165ITR270(Cal)

..... items in the world receipts. to the extent as aforesaid, the appeal of the revenue was rejected.6. on an application of the revenue under section 256(2) of the income-tax act, 1961, the tribunal, as directed by this court, has referred the following question as a question of law arising out of its order :' whether, on the facts and in the ..... same items in its world income in accordance with the provisions of the indian statute, it must have been held that the said items form part and parcel of ..... receipts. he directed the income-tax officer to recompute the indian income with reference to the world income afresh.5. being aggrieved, the revenue preferred an appeal before the income-tax appellate tribunal. it was held by the tribunal that the world shipping profits of the assessee has been worked out with reference to the provisions of the income-tax act, 1961, and if the income-tax officer has included the ..... . learned advocates for the parties reiterated the respective contentions made in the proceedings below. our attention was drawn to rule 10(ii) of the income-tax rules, 1962.8. it appears to us that the expression 'receipt' has not been defined in the act but the meaning of the expression 'receipt', in our view, has been made clear in various sections of the .....

Tag this Judgment!

Nov 19 1985 (HC)

Construction Machinery P. Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Nov-19-1985

Reported in : [1987]164ITR394(Cal)

..... the order of the tribunal for the opinion of this court:'1. whether the tribunal was right in law under section 40(c) of the income-tax act, 1961, to sustain the remuneration of shri atma singh at rs. 1,500 per month and rs. 1,000 to shri p. c. ..... subject to a minimum of rs. 5,000. in the assessment year in question, the income-tax officer while computing the taxable income of the assessee made an enquiry under section 10(4a) of the indian income-tax act, 1922, and disallowed deduction of a part of the remuneration paid to the managing director ..... per month on account of the remuneration paid to joginder singh and directed the income-tax officer to allow deduction of the said amount.10. on an application of the assessee under section 256(2) of the income-tax act, 1961, this court directed the tribunal to refer the following questions as questions ..... atma singh and prem chand bhalla were wholly disallowed.6. being aggrieved, the assessee preferred an appeal to the appellate assistant commissioner of income-tax. the appellate assistant commissioner held that the remuneration paid was excessive considering the business needs, the turnover and the financial status of the assessee ..... steel co. ltd., the associated cement companies ltd., etc., for which no special skill or experience was required. in computing the income of the assessee, the income-tax officer disallowed deduction of the remuneration paid to joginder singh wholly. of the remuneration paid to atma singh and prem chand bhalla, rs. .....

Tag this Judgment!

Nov 20 1985 (HC)

Commissioner of Income-tax Vs. Steel Rolling Mills of Hindusthan (P.) ...

Court : Kolkata

Decided on : Nov-20-1985

Reported in : (1986)51CTR(Cal)386,[1987]164ITR633(Cal)

..... that the finding is perverse was not allowed by the tribunal. the revenue did not come up before this court under section 256(2) of the income-tax act, 1961, to have the said question referred. 16. the contention of the revenue that the assessee did not own the said assets also does not ..... sc) , it was also held that such cylinders would come within the ambit of the expression 'plant '. 12. the material part of section 33 of the income-tax act, 1961, which provides for development rebate reads as follows: 'section 33(1)(a) in respect of a new ship or new machinery or plant (other than ..... order of the appellate assistant commissioner and dismissed the appeal of the revenue. 7. on an application of the revenue under section 256(1) of the income-tax act, 1961, the following question has been referred by the tribunal as a question of law arising out of its order for the opinion of this court: ..... supreme court that the expression 'plant' was ofwide import and that the expression 'installed' in section 10(2)(vi) of the indian income-tax act, 1922, not only meant fixed in position but also used in the sense of inducted or introduced in a business. (b) ajodhya prasad tara chand khekra ..... ]82itr44(sc) , the supreme court considered the meaning of the expression 'plant' as occurring in section 10 of the indian income-tax act, 1922, which is in pari materia with section 33 of the act of 1961. the supreme court observed that it was the intention of the legislature to give the expression 'plant' a wide .....

Tag this Judgment!

May 06 1985 (HC)

Commissioner of Income-tax Vs. M. Nath

Court : Kolkata

Decided on : May-06-1985

Reported in : [1986]158ITR78(Cal)

..... this court:'whether, on the facts and in the circumstances of the case, the tribunal is justified in holding that section 52(2) of the income-tax act, 1961, was not applicable ?'6. section 52(1) provides us follows :'where the person who acquires a capital asset from an assessee is ..... is a reference under section 256(2) of the income-tax act, 1961. this reference relates to the assessment year 1964-65.2. on appeal, before the appellate assistant commissioner, it was urged that no intention to avoid or reduce the appellant's tax liability was made out in this case. the transfer was ..... are firstly, that there should be a direct or indirect connection between the person who acquires the capital asset and the assessee. secondly, the income-tax officer should have reason to believe that the transfer was effected with the object of avoidance or reduction of the liability of the assessee to ..... was made with the object of avoidance of liability under section 45. the appellate assistant commissioner agreed with this argument and observed that the income-tax officer had brought on record no material to substantiate that the transaction was effected with the object of avoidance or reduction of liability under section ..... 45. he, therefore, cancelled the income-tax officer's order in respect of capital gains.3. before the tribunal, no serious argument was made in regard to the applicability of section 52(1) of the act. the tribunal held that in the absence of any evidence .....

Tag this Judgment!

May 06 1985 (HC)

Commissioner of Income-tax Vs. E.W. Stevens Co. Ltd.

Court : Kolkata

Decided on : May-06-1985

Reported in : (1986)55CTR(Cal)28,[1986]158ITR235(Cal)

ajit k. sengupta, j. 1. in this reference under section 256(1) of the income-tax act, 1961, the following question of law has been referred to this court :' whether, on the facts and in the circumstances of the case, the tribunal was right in holding that ..... agreement dated december 19, 1961.3. the dispute before the tribunal was in regard to an additional liability arising from the devaluation of indian currency on june 6, 1966. the income-tax officer disallowed the said additional liability due to devaluation of indian currency on june 6, 1966, amounting to rs. 57,103 because, in his opinion, the said sum represented a ..... was actually made by the assessee in respect of the said liability during the year under consideration and as the assessee had only made a provision in its accounts, the income-tax officer was correct in not allowing the deduction claimed by the assessee.5. the tribunal considered the contentions of the assessee as well as the department at length. the tribunal ..... fact found by the tribunal, the question in this reference has to be answered in the light of the principles laid down by this court in bestobell (india) ltd. v. cit : [1979]117itr789(cal) . there this court held thus (at p. 802):'we are unable to accept the contention of the revenue that notionally the expenditure, if any, incurred by or .....

Tag this Judgment!

Aug 19 1985 (HC)

Commissioner of Income-tax Vs. Macneill and Berry Ltd.

Court : Kolkata

Decided on : Aug-19-1985

Reported in : [1986]158ITR385(Cal)

..... rs. 47,367 was incurred wholly and exclusively for the purpose of the assessee's business and was an allowable one under section 37 of the income-tax act, 1961 ?'9. at the hearing, learned advocate for the revenue submitted that the entire transaction between the assessee, its principal, the company and ..... deduction of legal charges of rs. 49,367 and allowed the appeal.8. on an application of the revenue under section 256(1) of the income-tax act, 1961, the tribunal has referred the following question as a question of law arising out of its order for the opinion of this court:'whether ..... section, expenditure, even though not directly related to the earning of income, may be admissible for deduction. in particular, expenditure on civil litigation commenced ..... in court did not make any difference. (b) sree meenakshi mills ltd. v. cit : [1967]63itr207(sc) . this decision was cited for the observations made by the supreme court in construing section 10(2)(xv) of the indian income-tax act, 1922, as amended in 1939. the supreme court held that under the said ..... on the basis of the above findings.4. from the order of the appellate assistant commissioner, the assessee preferred a further appeal to the income-tax appellate tribunal.5. the tribunal found that rs. 33,49,366 was due to the assessee from the company which had suffered heavy loss .....

Tag this Judgment!


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