Court : Kolkata
Decided on : May-08-1987
Reported in : 186ITR329(Cal)
..... it appears from annexure 'o' at page 36 of the affidavit-in-reply that all residents of sikkim including government servants pay income-tax under the sikkim income-tax manual and not under the income-tax act, 1961. the letter of the accountant-general of sikkim dated april 8, 1985, (annexure 'f', at page 63 of the ..... the grounds for disallowing the exemption claimed is that the petitioner was a resident during the relevant period within the meaning of section 6 of the income-tax act, 1961. the finding is not based on any fact but is based on some 'reasons'.25. according to respondent no. 1, in this ..... . in paragraph 11 of the said affidavit, she has stated 'i state further that a resident of sikkim is automatically a 'nonresident' under the income-tax act, 1961'. this statement is apparently based on the abovementioned letters/circulars of the finance ministry.22. in the circumstances, i hold that a resident of ..... , 1978, by the ministry of finance (annexure 'f' at page 61 of the petition). paragraph 3 of the circular clearly states that as the income-tax act, 1961, has not been extended to sikkim by any notification under article 371f(n), sikkim will have to be treated as outside india. the petitioner ..... fit to the state of sikkim any enactment which is in force in a state in india at the date of the notification.' 20. the income-tax act, 1961, has not been extended to sikkim by any presidential notification under article 371f(n).21. the petitioner has annexed to his petition a circular .....Tag this Judgment!
Court : Kolkata
Decided on : Jul-21-1987
Reported in : 173ITR577(Cal)
..... of the income-tax act, 1961, was invoked. there is a difference in the language of sections 36 and 57.5. section 36 provided for deduction of interest paid in respect of the capital borrowed ..... in the instant case.4. we note that in this case the deduction has been claimed not only under section 57 but also under section 36(1)(iii) of the income-tax act. in smt. padmavati jaikrishna's case : 166itr176(sc) , the supreme court did not consider the question of admissibility of the deduction of interest paid on loans where section 36 ..... court in : 101itr153(guj) has held that interest paid on loans was not an admissible deduction under section 57 of the income-tax act, 1961, where amounts were borrowed to pay taxes and annuity deposit and where the assessee derived income from other sources in the shape of interest and dividends. it was submitted that as the supreme court has since laid down the ..... his disposal and borrows money for the purpose of payment of income-tax instead of liquidating his income-yielding assets, the interest paid on such borrowal utilised for the payment of income-tax can be allowed as a permissible deduction in computing the income of the assessee under section 57 and/or section 37 of the income-tax act ? (b) whether, under the circumstances aforesaid, interest paid on money .....Tag this Judgment!
Court : Kolkata
Decided on : Jun-02-1987
Reported in : 173ITR579(Cal)
..... of the indian company or the foreign company for the purpose of assessment of his salary paid by the indian company in india and will be taxed under the income-tax act, 1961 ? (ii) whether a foreign technician who declares before the government of india that he was an employee of an indian company, that ..... the exemption during his last visit to india, can still claim that he was not an employee of the indian company for the purpose of the income-tax act, 1961 ?' 2. the question which was before this court in the said reference was as follows :' whether, on the facts and in the ..... another foreign technician on the same day as the judgment involved herein. it was recorded in the said judgment in income-tax reference no. 329 of 1977 that the question referred did not involve either the taxability of the amount earned by the foreign technician while working ..... board during the previous year relevant to the assessment year 1973-74 '3. the reference was disposed of by following a judgment delivered in income-tax reference no. 329 of 1977 (cit v. west bengal state electricity board : 166itr507(cal) ), in the case of the same assessee for and on behalf of ..... his service would be performed in india and that he had necessary qualifications to get the exemption as a technician under the act and that he enjoyed .....Tag this Judgment!
Court : Kolkata
Decided on : Dec-22-1987
Reported in : 172ITR541(Cal)
..... income-tax officer was upheld by the appellate assistant commissioner. on further appeal, the tribunal reduced the rate of gross profit from ..... , the learned advocate for the assessee relied on and cited the following decisions:(a) dhakeswari cotton mills ltd. v. cit  26 itr 775: in this case, an assessment was made under section 23(3) of the indian income-tax act, 1922, by the income-tax officer. the income-tax officer estimated the gross profit on sales of the assessee at 40%. on appeal, the order of the ..... of n. v. philips' gloeilempenfabrieken for the assessment years 1973-74 and 1974-75 ?'11. on an application of the assessee under section 256(2) of the income-tax act, 1961, the tribunal was directed also to refer the following questions as questions of law arising out of the order of the tribunal for the opinion of this court:'(a) ..... as fees for technical services. on the facts, the tribunal declined to interfere with the estimate made by the commissioner of income-tax (appeals) in respect of the quantum.10. on an application of the assessee under section 256(1) of the income-tax act, 1961, the tribunal referred the following question as a question of law arising out of its order for the opinion .....Tag this Judgment!
Court : Kolkata
Decided on : Jun-22-1987
Reported in : (1987)63CTR(Cal)125,171ITR181(Cal)
..... and disallowed an amount of rs. 34,100 out of the said rs. 46,798 under section 37(2) of the income-tax act, 1961 ('the act'), which was included in the total income of the assessee.2. in the said assessment year, the assessee at its mill premises provided boarding and lodging facilities to its ..... ground that they related to earlier accounting years. the tribunal affirmed the decision of the income-tax authorities. on a reference, a division bench of the delhi high court held that the liability of the assessee to pay gratuity under the scheme ..... and in the assessment year 1971-72 claimed deduction of the provision made for payment of such gratuity on the basis of actuarial valuation. the income-tax authorities allowed part of the said amount on the ground that the same related to the year in question but the balance was disallowed on the ..... maintained and that no expenditure incurred on a guest house would be admissible for deduction.5. the appellate assistant commissioner also upheld the decision of the income-tax officer in disallowing the balance of rs. 1,03,82,408 of the provision made on account of gratuity, inter alia, on the ground that ..... in a sum of rs. 1,31,162. the difference of rs. 28,245 was claimed by the assessee as a deductible expenditure. the income-tax officer disallowed the claim on the groundthat the assessee maintained a guest house and was not entitled to claimdeduction in respect of expenditure incurred for the .....Tag this Judgment!
Court : Kolkata
Decided on : Jul-08-1987
Reported in : (1987)65CTR(Cal)155,170ITR110(Cal)
..... and in the circumstances of the case, the assessee's failure to submit a revised return (estimate) under section 212(2) of the income-tax act, 1961, attracts interest under section 216 of the income-tax act, 1961 ?' 12. at the hearing of this reference, learned advocate for the assessee submitted that the assessee was entitled under section 212 to submit an estimate ..... to charge interest under section 216. the appeal of the assessee was dismissed. 11. on an application of the assessee 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 : 'whether, on the facts ..... . : 122itr251(ap) . in this case, the question referred to the andhra pradesh high court was whether interest under section 216 of the income-tax act, 1961, could be levied on an assessee when the advance tax payable was not underestimated but the income being underestimated, the advance tax payable in instalments was less. it was held by the high court that section 212 of the ..... , 1976. it was held that the assessee had omitted to do so and postponed the payment of the correct instalment of advance tax and as such the assessee came within the mischief of the provisions of section 216 of the income-tax act, 1961. the assessee postponed payment of the correct amount of the second instalment with full knowledge and without justification and the .....Tag this Judgment!
Court : Kolkata
Decided on : Aug-03-1987
Reported in : (1987)66CTR(Cal)172,170ITR150(Cal)
..... section 13(3) were not applicable.5. it was contended on behalf of the assessee before the tribunal that the expressions 'fund' and 'invest' which were not defined in the income-tax act had to be construed with reference to their dictionary meaning. the meaning of the said words as given in the chambers, twentieth century dictionary, 1972 edition, the concise oxford dictionary ..... its assessment, the assessee claimed that the said amount of rs. 1,44,735 was not exigible to income-tax under the provisions of section 13(1)(c)(ii) of the income-tax act, 1961 ('the act'), read with the second proviso to the said section. the income-tax officer rejected the contentions of the assessee and held that the funds of the assessee remained invested in a ..... facts and in the circumstances of the case and on a proper interpretation of sections 11 and 13 of the income-tax act, 1961, the tribunal was justified in holding that the assessee would be entitled to claim exemption in respect of dividend income of rs. 1,44,735 received in the accounting year relevant to the assessment year under reference ?'10. it is ..... concern in which the persons referred to in sub-section (3) of section 13 of the act, viz., the settlor of the trust .....Tag this Judgment!
Court : Kolkata
Decided on : Jul-24-1987
Reported in : (1988)67CTR(Cal)21,169ITR162(Cal)
..... him in india during such year. the words 'all income from whatever source derived' are significant inasmuch as the income-tax act seeks to tax only that kind of income which arises from sources mentioned in the income-tax act, namely, income from salaries, income from interest on securities, income from property, income from profits or gains from business and income from other sources. learned counsel urged that considering the provisions ..... that the compensatory city allowance was not taxable by virtue of section 10(14) as also section 16(v) of the income-tax act, 1961. the income-tax officer upheld the assessee's contention. however, the additional commissioner of income-tax on a perusal of the assessment order was of the view that the city compensatory allowance was in the nature of salary ..... our attention was drawn, the contention of the revenue, the contention of the assessee raised in the proceedings below and the relevant fundamental rules and sections of the income-tax act, 1961, it appears to us that a city compensatory allowance granted to a government servant under the fundamental rules is required to be regulated in such a manner ..... of the assessee and held in his favour and against the revenue.7. the tribunal accepted the contentions of the assessee. the tribunal considered the scheme of the income-tax act as also the fundamental rules governing the services of the assessee under which the said allowance was paid and held that the said city compensatory allowance did not .....Tag this Judgment!
Court : Kolkata
Decided on : Jun-04-1987
Reported in : 169ITR422(Cal)
..... whether payment of a dividend or a larger dividend than that declared by a company would be unreasonable within the meaning of section 23a of the indian income-tax act, 1922, is a matter to be decided from the point of view of the company and its directors. the reasonableness or unreasonableness of the amount ..... of the assessee was an investment in the ordinary or popular sense of the term and came within the mischief of section 23a of the indian income-tax act, 1922. apart from the said two activities, the assessee had no other business and it was held to be a company whose business consisted ..... that the assessee was 'a company whose business consisted wholly or mainly in the holding of investments' within the meaning of section 23a of the indian income-tax act, 1922. the supreme court further observed that in the context of section 23a, the term 'investment' was not a term of art and should be ..... business consists wholly or mainly in the dealing in or holding of investments within the meaning of explanation 2(i) to section 23a of the indian income-tax act, 1922 2. whether, on the facts and in the circumstances of the case, the tribunal is right in holding that it would not be reasonable ..... than what was declared. the appeal of the revenue was dismissed. 11. on an application of the revenue under section 66(2) of the indian income-tax act, 1922, the following questions have been directed to be referred by the tribunal as questions of law arising out of its order for the opinion of this .....Tag this Judgment!
Court : Kolkata
Decided on : Jun-15-1987
Reported in : 169ITR446(Cal)
..... , which has been filed in opposition to this petition. it is alleged in this affidavit, inter alia, that the said search was conducted at agra under section 132 of the income-tax act, 1961, against satpal hora of agra, another son of the appellant as also ashok kumar hora. it is stated that the appellant also resides in the said premises no. 52 ..... she carries on business of discounting of 'purchies' and postdated cheques. the appellant, an assessee under the income-tax act, 1961, is regularly assessed to income-tax by the income-tax officer, 'g' ward, dist. ssc-viii, calcutta, respondent no. 6 herein.2. on november 7, 1985, the officers of the. income-tax department raided premises no. 52, surya nagar, agra, in the state of u.p., under a ..... search authorisation issued by the commissioner of income-tax, agra, respondent no. 3 herein, and conducted a search under section 132(1) of the income-tax act, 1961. the said premises no. 52, surya nagar, agra, is owned by ashok kumar hora, a son of the appellant.3. at the ..... is further empowered under the said section 132(5) to calculate the amount of tax on the income so estimated, determine the amount of interest payable and penalty imposable under the act and specify the amount that would be required to satisfy any existing liability under the income-tax act. the income-tax officer thereafter is empowered to retain in his custody such assets or parts thereof as .....Tag this Judgment!