Skip to content


Judgment Search Results Home > Cases Phrase: income tax act Court: kolkata Year: 1988 Page 1 of about 125 results (0.032 seconds)

Sep 12 1988 (HC)

Commissioner of Income-tax Vs. Basumati (P.) Ltd.

Court : Kolkata

Decided on : Sep-12-1988

Reported in : [1989]180ITR175(Cal)

..... sales were correctly recorded by the assessee in its books of account. invoking the explanation under section 271(1)(c) of the income-tax act, 1961, the inspecting assistant commissioner held that the assessee-company failed to discharge the burden of proving that the difference between the returned ..... bengal-ii, the following question of law has been referred to this court under section 256(2) of the income-tax act, 1961, for the assessment year 1964-65 :'whether, on the facts and in the circumstances of the case, the tribunal was justified ..... of the penalty in this case. if, in the fresh assessment to be made in terms of the directions of the commissioner of income-tax (appeals), the income-tax officer detects any concealment of income or particulars thereof, he will be at liberty to proceed in accordance with law.7. for the reasons aforesaid, we decline to ..... ,000 in the trading account towards possible suppression of sales. it was only on estimate that the income-tax officer made the addition towards possible suppression of sales and disallowance towards possible inflation of purchases. we do not think that any inference of fraud or ..... of the penalty order, it is abundantly clear that the inspecting assistant commissioner levied the penalty merely on the basis of the reasons given by the income-tax officer in the assessment order for disallowing rs. 1,50,000 from the purchase account towards possible inflation of purchases and for adding rs. 1,00 .....

Tag this Judgment!

Jun 21 1988 (HC)

Commissioner of Income-tax Vs. Hazaribagh Coal Syndicate Private Ltd.

Court : Kolkata

Decided on : Jun-21-1988

Reported in : [1989]177ITR135(Cal)

..... bengal-iii, the following two questions of law have been referred to this court under section 256(2) of the income-tax act, 1961, for the assessment year 1969-70 :'(1) whether, on the facts and in the circumstances of the case, the ..... that it was not laid out or expended wholly and exclusively for the purpose of the business.9. we have considered the rival contentions. the income-tax officer mentioned the years in which the expenses were incurred. it is no doubt true that before any expenditure is allowed, the assessee must satisfy ..... the company, however, debited the entire expenditure.' in such circumstances, the tribunal restored the matter to the file of the income-tax officer in this regard and directed that the income-tax officer should work out the maximum amount reimbursable according to the ceiling laid down by the coal board in the assessment years ..... the appellate assistant commissioner held that the expenditure was revenue expenditure and hence allowable. he also held that the entire expenditure could be allowed, because the income-tax officer never disputed the actual expenditure.6. the revenue felt aggrieved and came up in appeal before the tribunal. according to the revenue, the first ..... ,9461965-6634,18110,37030-4-196623,8021966-6726,4976,93116-5-196619,566 1,02,07933,765 68,3143. it was submitted before the income-tax officer that the expenses incurred and the amount received against them as reimbursement from coal board were shown in the following manner and the balance .....

Tag this Judgment!

Jul 18 1988 (HC)

Commissioner of Income-tax Vs. Anniversary Investments Agencies Ltd.

Court : Kolkata

Decided on : Jul-18-1988

Reported in : (1989)78CTR(Cal)91,[1989]175ITR199(Cal)

..... question of law has been referred to this court under section 256(1) of the income-tax act, 1961 ('the act'), for the assessment year 1973-74 :'whether, on the facts and in the circumstances of the case, the tribunal was right in holding that the income-tax officer was not justified in apportioning the total expenditure incurred by the assessee as between the ..... several heads of income and treating the appropriate portion thereof as expenditure against the dividend income and in ..... entirely under the head 'profits and gains of business or profession'. the appellate assistant commissioner, following the order of the tribunal for the earlier years, held that the income-tax officer was not justified in allocating any expenses claimed as a deduction in working out the loss from business in purchase and sale of shares towards the earning of ..... revenue filed an appeal before the tribunal. the department raised the contention that the appellate assistant commissioner erred in rejecting the income-tax officer's stand in allocating the expenditure towards the earning of dividend income and in directing the income-tax officer to enhance the loss computed under the head 'profits and gains of business or profession' by rs. 71,113 and .....

Tag this Judgment!

Dec 16 1988 (HC)

Commissioner of Income-tax Vs. Jaswantiraj and Bros.

Court : Kolkata

Decided on : Dec-16-1988

Reported in : [1990]182ITR151(Cal)

..... inspecting assistant commissioner, in his order, has recorded as follows :'in response to a notice under section 274(2) read with section 271 of the income-tax act issued by me, shri r.n. lakhotia, advocate, appeared on january 30, 1968, and submitted a written explanation dated january 27, 1968. he ..... to make the order of penalty under section 271(1)(c) of the income-tax act, 1961, in this case ? 2. whether, on the facts and in the circumstances ..... case, the tribunal was correct in law in holding that the inspecting assistant commissioner of income-tax, range-v, calcutta, had no jurisdiction ..... ajit k. sengupta, j.1. at the instance of the commissioner ofincome-tax, the following two questions of law have been referred to thiscourt under section 256(2) of the income-tax act, 1961, for the assessment year 1961-62 :'1. whether, on the facts and in the circumstances of the ..... commissioner is already in seisin of a reference under section 274(2) pending adjudication before him, the transfer of case from one income-tax officer to another income-tax officer under section 127(1) by itself cannot take away or affect the jurisdiction of such inspecting assistant commissioner excepting by a subsequent .....

Tag this Judgment!

Dec 22 1988 (HC)

Commissioner of Income-tax Vs. G. Basu and Co.

Court : Kolkata

Decided on : Dec-22-1988

Reported in : [1990]182ITR472(Cal)

..... of the applicants (appellants) before the tribunal was that the partnership continued with regard to 336 bales and, therefore, section 26(1) of the income-tax act was applicable. in other words, it submitted that though the partners had retired in 1942, it must be taken that with regard to this forward contract ..... these facts, the following question of law has been referred to this court at the instance of the commissioner under section 256(1) of the income-tax act, 1961 :'whether, on the facts and in the circumstances of the case, the tribunal was justified in holding that the amount of rs. 1 ..... 1938, of 2,389 representing, after deduction of income-tax, 1/14th of the net profits of the business for the year to 31st december 1937.25. the respondent claimed his share of the gross sum ..... equal to one-fourteenth part of the net profits of the business for the three years ending 31st december, 1937, 1938 and 1939, under deduction of income-tax.24. the retiring partner died on 12th february, 1937. certain payments were made to his representatives under the agreement, including an item, paid in may, ..... being given.'13. it may be mentioned that the amount payable to the retiring partners as computed in the said agreement was considered by the income-tax officer. apart from the aforesaid amount, other payments in terms of the deed payable to the retiring partners were also allowed. it may be .....

Tag this Judgment!

Jul 12 1988 (HC)

Commissioner of Income-tax Vs. Kashinath Dutta

Court : Kolkata

Decided on : Jul-12-1988

Reported in : [1989]180ITR221(Cal)

..... . sengupta, j. 1. at the instance of the commissioner, west bengal-iv, the following question of law has been referred to this court under section 256(2) of the income-tax act, 1961 ('the act'), for the assessment year 1967-68 :'whether, on the facts and in the circumstances of the case, thetribunal was justified in law in holding that the assessee is entitled ..... in the books of ashutosh cold storage and the assessee was found to have claimed it in part ii of the said return to have been credited out of past taxed income. the income-tax officer rejected this contention on the ground that there was no evidence and that the assessee ever maintained any personal books of account. but as the latter himself had ..... intangible addition of rs. 50,000 in the assessment of the said firm. this was not acceptable to the income-tax officer inasmuch as the said credit was not given by the firm in the assessee's capital account nor did he maintain any books for such account. consequently, the sum ..... partner of five firms, namely, biswanath dutta, biswanath dutta and co., biswanath cold storage, kashinath cold storage and ashutosh cold storage.4. in the course of the assessment proceedings, the income-tax officer noticed in the assessee's personal account with biswanath cold storage a credit of rs. 11,713. this sum was claimed to represent the assessee's share in the .....

Tag this Judgment!

Dec 14 1988 (HC)

Giridharilal Goenka Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Dec-14-1988

Reported in : (1989)80CTR(Cal)140,[1989]179ITR122(Cal)

..... , in the opinion of the income-tax officer, clearly not explainable. the income-tax officer, accordingly, made an addition of rs. 37,048 to the total income of the assessee under section 40a(3) of the income-tax act, 1961.4. the assessee appealed to the appellate assistant commissioner of income-tax challenging the addition of rs. 37 ..... . the facts leading to this reference are that the assessee, an individual, is a wholesale dealer in jaggery. before the income-tax officer, it was submitted on behalf of the assessee that he started a ..... under section 256(2) of the income-tax act, 1961, for the assessment year 1975-76 :'whether, on the facts and in the circumstances of the case and on a proper interpretation of rule 6dd of the income-tax rules, 1962, read with the central board of direct taxes circular no. 220 dated may 31, ..... 1977 (see [1977] 108 itr 8), the tribunal was justified in upholding the disallowance of rs. 22,098 in terms of sub-section (3) of section 40a of the income-tax act, 1961 ?'2 ..... the payee, having regard to the nature of the transaction and the necessity for expeditious settlement thereof and also furnishes evidence to the satisfaction of the income-tax officer as to the genuineness of the payment and the identity of the payee.' 10. the board, therefore, issued a circular on may 31 .....

Tag this Judgment!

Dec 21 1988 (HC)

Commissioner of Income-tax Vs. Super Steel (Sales) Co.

Court : Kolkata

Decided on : Dec-21-1988

Reported in : [1989]178ITR451(Cal)

..... the income-tax act, 1961, had not been validly initiated and in that view cancelling the order of penalty made under the said section ?'3. it appears that in this case the assessment was ..... for the year under reference had not been validly initiated. on these facts, the following question of law has been referred to this court under section 256(2) of the income-tax act, 1961 :'whether, on the facts and in the circumstances of the case, the tribunal misdirected itself in law in holding that the, penalty proceedings under section 271(1)(c) of ..... year 1964-65. it arises in consequence of the order of the inspecting assistant commissioner of income-tax imposing a penalty of rs. 1,80,000 under section 271(1)(c) of the income-tax act, 1961. the assessment had been made in the status of an unregistered firm. the income-tax officer stated, while making the assessment, that as in the previous years, the application for ..... registration by the assessee was rejected and the assessment was completed as a protective measure. it was stated before the tribunal that for the last several years, the income had been .....

Tag this Judgment!

Sep 12 1988 (HC)

Commissioner of Income-tax Vs. National Alloy and Metal Works (P.) Ltd ...

Court : Kolkata

Decided on : Sep-12-1988

Reported in : [1989]176ITR299(Cal)

..... under section 271(1)(c) of the income-tax act, 1961 ?'2. the facts briefly stated are that in the course of the assessment, the income-tax officer noticed credits in the names of several persons in the books of the assessee. it was ..... department to further prove that the amounts added by the income-tax officer represented revenue receipts and the assessee concealed the same, for the purpose of imposing penalty ..... view of the disclosure petition filed by the assesses under section 271(4a) of the income-tax act, 1961, there was any burden on the ..... ajit k. sengupta, j.1. at the instance of the commissioner of income-tax, west bengal, the following question of law has been referred to this court under section 256(2) of the income-tax act, 1961, for theassessment year 1961-62 :'whether, on the facts and in the circumstances of the case and in ..... . confirmation letters from them had been filed with a view to verify the genuineness of the transactions. notices were issued to these parties by the income-tax officer. in regard to some of them, the notices could not be served and some of them did not comply with the notices. three of .....

Tag this Judgment!

Jun 13 1988 (HC)

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

Court : Kolkata

Decided on : Jun-13-1988

Reported in : [1989]175ITR110(Cal)

..... of a capital expenditure, was wrongly allowed in the original assessment as a revenue expenditure. accordingly, the relevant assessment was reopened under section 147(b) of the income-tax act, 1961. it was contended before the income-tax officer that the looms were included in machinery purchased prior to april 1, 1949, and the break-up figures for looms could not be made available. the ..... section 147(b) of the income-tax act, 1961, were infructuous and invalid ?2. whether, on the facts and in the circumstances of the case, the sum of rs. 2,21,331 paid by the assessee for purchase ..... ajit k. sengupta, j.1. at the instance of the commissioner of income-tax, the following two questions of law have been referred to this court under section 256(2) of the income-tax act, 1961, for the assessment year 1959-60 :1. 'whether, on the facts and in the circumstances of the case, the tribunal was right in holding that the reassessment proceedings under ..... appellate assistant commissioner challenging the legality and the propriety of the reassessment proceedings on the ground that all the material facts required for raising an assessment were placed before the income-tax officer at the time of the original assessment. on his scrutiny of the records, the appellate assistant commissioner found in the director's report relating to the assessment year that .....

Tag this Judgment!


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