Skip to content


Judgment Search Results Home > Cases Phrase: income tax act Court: kolkata Year: 1988 Page 1 of about 125 results (0.037 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!

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!

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 23 1988 (HC)

Commissioner of Income-tax Vs. Benarashilal Kataruka

Court : Kolkata

Decided on : Dec-23-1988

Reported in : [1990]185ITR493(Cal)

..... to render them 'personal effects' within the meaning of that expression used in clause (ii) of the exceptions in section 2(4a) of the indian income-tax act, 1922. the legislature intended only those articles to be included within the expression 'personal effects' which were intimately and commonly used by the assessee.'a similar ..... assessee belongs and as such, according to the appellate assistant commissioner, those are not capital assets within the meaning of section 2(14)(ii) of the income-tax act, 1961.6. being aggrieved, the revenue filed an appeal before the tribunal against the said order of the appellate assistant commissioner. the tribunal held that ..... 1977-78.'1. whether, on the facts and in the circumstances of the case and on a correct interpretation of section 2(14)(ii) of the income-tax act, 1961, silver utensils are personal effects of the assessee ? 2. whether, on the facts and in the circumstances of the case, the surplus on the ..... were for personal use and that they were not capital assets within the meaning of section 2(14)(ii) of the income-tax act, 1961. so he claimed that the profit of rs. 52,879 on the sale of the silver utensils was not liable to be ..... such affluence as to use silver utensils weighing more than 200 kgs. as common utensils of the kitchen or dining table. the income-tax officer observed that the income-tax and wealth-tax records of the assessee clearly indicated that these utensils were owned by him as items of decoration to give pride of possession. .....

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!

Dec 22 1988 (HC)

Commissioner of Income-tax Vs. Soorajmal Nagarmull

Court : Kolkata

Decided on : Dec-22-1988

Reported in : [1990]181ITR340(Cal)

..... expenditure incurred in purchase of loom-hours is revenue expenditure allowable as deduction and whether such expenditure can be disallowed in the assessment reopened under section 147(a) of the income-tax act, 1961 ?' 3. the facts relating to the first question are that the original assessment for the assessment year 1957-58 was completed on june 22, 1962. premises nos. 61, 57 ..... the circumstances of the case, and having regard to the fact that the appellate assistant commissioner had upheld the validity of the proceedings initiated under section 147(a) of the income-tax act, 1961, and the assessee did not challenge before the tribunal such finding of the appellate assistant commissioner, the tribunal misdirected itself in law in holding that the expenditure incurred in ..... ajit kumar sengupta, j.1. at the instance of the commissioner, the following two questions have been referred to this court under section 256(2) of the income-tax act, 1961 ('the act'), for the assessment year 1957-58 :'(1) whether, on the facts and in the circumstances of the case, the tribunal ignored relevant evidence and relied on irrelevant materials in holding ..... ). during the search of the premises, no. 61, m. g. road, a large quantity of jewellery was found therein. the assessment was reopened under section 147(a) of the act on the ground that income had escaped assessment.4. the income-tax officer wrote a letter to the assessee to show cause why the value of the jewellery should not be treated as the .....

Tag this Judgment!

Dec 16 1988 (HC)

Commissioner of Income-tax Vs. Hindusthan Sanitary Ware and Industries ...

Court : Kolkata

Decided on : Dec-16-1988

Reported in : [1989]180ITR21(Cal)

..... the assessment years 1969-70 and 1971-72 :'(1) whether, on the facts and in the circumstances of the case and on a correct interpretation of section 216 of the income-tax act, 1961, the tribunal is right in holding that charging of interest under that section is discretionary and there must, therefore, be material on record to show that, before charging the ..... this court (at p. 88) :'whether, on the facts and in the circumstances of the 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 ..... case, the tribunal is right in holding that the levy of interest under section 216 of the income-tax act, 1961, is bad in law and in that view setting aside the order of the income-tax officer charging interest and in sending back the matter to the income-tax officer for fresh consideration ?'the facts leading to this reference are briefly stated hereafter.2. for the ..... case for charging interest under that statutory provision ?(2) whether, on the facts and in the circumstances of the case, and on a correct interpretation of section 216 of the income-tax act, 1961, the tribunal is right infolding that, before exercising the power of directing the assessee to pay interest under the said section, the .....

Tag this Judgment!

Dec 21 1988 (HC)

Commissioner of Income-tax Vs. Nippon Yusen Kaisha

Court : Kolkata

Decided on : Dec-21-1988

Reported in : [1989]180ITR442(Cal)

..... determined the income at a higher figure. the appellate tribunal held that the income-tax officer could not, in reassessment proceedings, depart from the ..... computed by invoking rule 33 of the indian income-tax rules, 1922, corresponding to rule 10 of the income-tax rules, 1962. he applied one of the three methods permitted therein and computed the income through or from certain contracts (business connection) in india. subsequently, the income-tax officer reopened the assessment under section 147(b) of the income-tax act, 1961, and applying a different method permissible, ..... bengal-ii, the following question of law has been referred to this court under section 256(1) of the income-tax act, 1961, for the assessment year 1974-75 :'whether, oh the facts and in the circumstances of the case, the tribunal is justified in holding that there was no ..... within the ambit of section 147(b) of the act of 1961, or section 34(1)(b) of the act of 1922. we may add that the income-tax officer ordering reassessment does not sit as a court of appeal over the income-tax officer making the original assessment. nor is it open to the income-tax officer ordering reassessment to substitute his own opinion regarding .....

Tag this Judgment!


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