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Judgment Search Results Home > Cases Phrase: income tax act Court: kolkata Year: 1988 Page 2 of about 125 results (0.041 seconds)

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 .....

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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 .....

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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 .....

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Aug 08 1988 (HC)

Commissioner of Income-tax Vs. Sree Ram Santosh Kumar

Court : Kolkata

Decided on : Aug-08-1988

Reported in : [1989]179ITR478(Cal)

..... under section 271(1)(c) of the income-tax act, 1961, on the assessee-firm was not justified ?'2. shortly stated, the facts are that the assessee is a partnership firm. for the year under reference, initially it returned an ..... the penalty payable for the assessment year in question has been settled. in that view of the matter, the tribunal, in disposing of the case under section 260 of the income-tax act, 1961, shall take into account the settlement arrived at before the settlement commission.8. there will be no order as to costs.k.m. yusuf, j.9. i agree ..... ajit k. sengupta, j.1. at the instance of the commissioner of income-tax, west bengal, calcutta, 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 1963-64 :'whether, on the facts and in the circumstances of the case, the tribunal was justified in holding that the imposition of penalty ..... certain persons. the partners of the assessee-firm filed disclosure petitions with the commissioner of income-tax under section 271(4a) of the act wherein the said loans were accepted by the partners as their own concealed income. the said disclosure petitions were rejected by the commissioner.3. the income-tax officer, prior to the completion of the assessment proceedings, initiated penalty proceedings against the assessee .....

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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 .....

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Jul 05 1988 (HC)

Commissioner of Income-tax Vs. Jamini Mohan Kar

Court : Kolkata

Decided on : Jul-05-1988

Reported in : [1989]176ITR127(Cal)

..... raised before the income-tax officer and also relied upon the tribunal's decision in an identical case of sri ajit kr. bose : [1987]165itr90(cal) . the ..... not includible in the total income of the assessee ?'2. the facts leading to this reference are stated hereafter. the assessment year involved is 1970-71 ..... question of law has been referred to this court under section 256(1) of the income-tax act, 1961, for the assessment year 1970-71 :'whether, on the facts and in the circumstances of the case and on a correct interpretation of section 17(3)(i) of the income-tax act, 1961, the tribunal was correct in holding that the sum of rs. 36,326 was ..... . roy : [1972]84itr701(sc) , it could not be included in the taxable income. the income-tax officer, however, held that the amount in question was compensation received in connection with the termination of the employment and was, therefore, assessable as salary in terms of section 17(3)(i) of the income-tax act, 1961.3. before the appellate assistant commissioner, the assessee reiterated the contentions as .....

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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 .....

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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 .....

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Jul 04 1988 (HC)

Commissioner of Income-tax Vs. Nawn Estate Pvt. Ltd.

Court : Kolkata

Decided on : Jul-04-1988

Reported in : [1989]175ITR127(Cal)

..... the assessee of a larger dividend than that declared would have been unreasonable and in that view cancelling the order made under section 23a of the indian income-tax act, 1922 ?'it is not necessary for us to go into the question referred to us in view of the facts stated hereafter.2. the tribunal ..... bengal-v, 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 1960-61 :'whether, on the facts and in the circumstances of the case, the tribunal erred in ..... as the appellate assistant commissioner, by the order dated march 24, 1977, set aside the assessment for the assessment year 1960-61 and directed the income-tax officer to make the assessment afresh in accordance with law and after completion of the enquiries, we are of the view that this reference has now become ..... event that the appellate assistant commissioner, by his order dated march 24, 1977, set aside the assessment for the assessment year 1960-61 and directed the income-tax officer to make the assessment afresh in accordance with law and after completion of the enquiries mentioned above. according to him, the present reference application would be ..... this case and having regard to the principles laid down by the supreme court in the case of cit v. gangadhar banerjee and co. (p.) ltd. : [1965]57itr176(sc) and the decision of this court in the case of cit v. bangodaya cotton mills ltd. : [1968]69itr812(cal) , in the matter of distribution of .....

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Aug 01 1988 (HC)

Commissioner of Income-tax Vs. Budge Budge Amalgamated Mills Ltd. (No. ...

Court : Kolkata

Decided on : Aug-01-1988

Reported in : [1989]175ITR378(Cal)

..... be rectified under section 154 of the income-tax act, 1961, was not a mistake apparent from the record within the meaning of the said section ?'2. the facts shortly stated hereinafter are as follows :the assessee in its return ..... , by his letter dated january 17, 1964, directed the assessee to create the necessary reserve as could be seen from the following extracts from the said letter :'the income-tax act, 1961, contemplates that the assessee has the obligation of computing his assessable profits and of making an adequate reserve of 75 per cent. of the development rebate actually allowable to ..... sengupta, j.1. at the instance of the commissioner, 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 1961-62 :'whether, on the facts and in the circumstances of the case, the tribunal misdirected itself in law in holding that the mistake sought to ..... state its case as to why the mistake crept in the assessment should not be rectified under section 154 of the act. the assessee in its reply dated april 26, 1976, objected to the proposed rectification of the income-tax officer. the income-tax officer, however, rejected the assessee's objection and rectified his earlier, order under section 154 on january 12, 1968, whereby he .....

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