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Judgment Search Results Home > Cases Phrase: income tax act Court: kolkata Year: 1988 Page 6 of about 125 results (0.129 seconds)

Dec 13 1988 (HC)

Khub Chand Kundanmal Vs. Union of India (Uoi) and ors.

Court : Kolkata

Decided on : Dec-13-1988

Reported in : [1991]187ITR334(Cal)

..... said assessment year was filed on february 12, 1969. on the said return, it was marked 'duplicate'. a disclosure petition under section 271(4a) of the income-tax act, 1961 (hereinafter referred to as 'the said act'), was filed by each of the partners of the petitioner on june 2, 1965. the assessment for the said assessment year was completed on february 14, 1969 ..... the ground that the questions sought for were all questions of fact.7. thereafter, the petitioner filed the second miscellaneous application to the income-tax appellate tribunal for rectification of a mistake under section 254(2) of the said act, and the said application was rejected by the tribunal on may 31, 1975. the petitioner filed a reference application under section 256(1 ..... computed at rs. 80,731 which included the sum of rs. 40,000 being the income added by the income-tax officer under the head 'income from undisclosed sources' on the basis of peak credits as per disclosure made by the partners under section 271(4a) of the said act. the said assessment was confirmed by the appellate authority.3. in the meantime, the inspecting ..... ) to the income-tax appellate tribunal and the said application was also rejected on october 26, 1976. against the said order of the tribunal, the petitioner filed an application under section 256(2) of the said act in this court and the said application was rejected on july 11, 1977, confirming .....

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Oct 03 1988 (HC)

Dibrugarh Co. Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Oct-03-1988

Reported in : [1989]179ITR20(Cal)

a.k. sengupta, j.1. at the instance of the assessee, the following 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 1970-71 :'whether, on the facts and in the circumstances of the case, the tribunal was justified in law in holding that no appeal would lie ..... under section 154 of the income-tax act, 1961, with reference to the levy of interest under section 139 of the income-tax act, 1961 ?'2. the facts relating to this reference, are that after the completion of the assessment, the ..... income-tax officer found the interest chargeable under section 139 of the act should be rs. 9,816 and not rs. 9,214 as originally assessed. the assessee was given opportunity to raise objections ..... the other hand, contended that an appeal lies against the order under section 154 and that the income-tax officer himself in his order of rectification under section 143(3) read with section 251 of the act treated this payment as payment under section 210 of the act. the tribunal rejected the contention of the assessee and reversed the decision of the appellate assistant .....

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Dec 06 1988 (HC)

Commissioner of Income-tax Vs. Bata India Ltd.

Court : Kolkata

Decided on : Dec-06-1988

Reported in : (1989)79CTR(Cal)116,[1989]178ITR669(Cal)

..... conference. in the course of the assessment proceedings, the assessee claimed that it was entitled to weighted deduction in respect of expenses incurred under section 35b of the income-tax act, 1961, ('the act'). the income-tax officer asked for particulars of the conference that was held and came to the conclusion that it was in the nature of a routine programme and he did not ..... was right in holding that if the purpose of the conference held inindia was promotion of exports, the expenses on the conference qualifiedfor weighted deduction under section 35b of the income-tax act, 1961,notwithstanding that the expenses were incurred in india ?'2. the assessment year involved is 1972-73 for which the relevant year of account is the calendar year 1971. the .....

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Dec 21 1988 (HC)

Harbanslal Malhotra and Sons Ltd. Vs. Income-tax Officer and ors.

Court : Kolkata

Decided on : Dec-21-1988

Reported in : [1989]177ITR46(Cal)

..... of carrying on the business of the said factory and was a commercial exploitation of the commercial assets of the petitioner. the income from the said hiring is assessable under the income-tax act as business income. the petitioner filed its returns under the income-tax act for the assessment years taking up such a stand. the petitioner was, however, surprised to receive from respondent no. 2 a ..... the petitioner as the petitioner will have the chance to show cause against the concerned notice and the assessee has the right to go up within the scope of the income-tax act itself. this court has to consider as to whether there is jurisdiction to issue the notice and whether the proposed proceedings are absolutely void and an abuse of the process ..... , that the assessment/refund order under section 143 required to be amended as there is a mistake apparent from the record within the meaning of section 154/155 of the income-tax act, 1961. the rectification of the mistake, as per details, has been mentioned and an opportunity was given to the assessee to appear in person or by any of his authorised ..... of or in furtherance of or under the notice dated april 20, 1978, and all proceedings/notices and orders relating thereto and thereunder under section 154/155(5) of the income-tax act, 1961, relating to the assessment orders as mentioned in the respective writ petitions. the writ petitions were moved mainly on the grounds that the conditions precedent necessary to confer jurisdiction .....

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Jun 13 1988 (HC)

Commissioner of Income-tax Vs. Bengal Card Board Industries and Printe ...

Court : Kolkata

Decided on : Jun-13-1988

Reported in : (1989)76CTR(Cal)171,[1989]176ITR193(Cal)

..... year 1974-75, would not come within the purview of sub-section (4) of section 249 of the income-tax act, 1961, which was inserted by the taxation laws (amendment) act, 1975, with effect from october 1, 1975 ?' 2. the facts relating to this reference are shortly stated hereafter :for the year under reference, the assessment ..... following question of law has been 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 appeal filed by the assessee before the appellate assistant commissioner on october 9, 1975, for the assessment ..... was framed by the income-tax officer under section 143(3) of the act on july 31, 1975. against the said order of the income-tax officer, the assessee preferred an appeal to the appellate assistant commissioner on october 9, 1975. meanwhile, sub-section (4) was inserted ..... in section 249 of the act by section 59 of the taxation laws (amendment) act, 1975, with effect from october 1, 1975. under the said sub-section, an assessee is required to .....

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Sep 12 1988 (HC)

Commissioner of Income-tax Vs. Indian Molasses Co. (P.) Ltd.

Court : Kolkata

Decided on : Sep-12-1988

Reported in : (1989)77CTR(Cal)112,[1989]176ITR473(Cal)

..... and on a correct interpretation of section 40(c) and section 40a(5) of the income-tax act, 1961, the tribunal was correct in holding that an expenditure incurred by the assessee-company in respect of its employee-directors did not fall ..... ajit k. sengupta j.1. at the instance of the commissioner of income-tax, west bengal iii, calcutta, the following question of law has been referred to this court for the assessment year 1972-73 under section 256(1) of the income-tax act, 1961 :'whether, on the facts and in the circumstances of the case ..... by any person referred to in sub-clause (i) either wholly or partly for his own purposes or benefit, if, in the opinion of the income-tax officer, any such expenditure or allowance as is mentioned in sub-clauses (i) and (ii) is excessive or unreasonable having regard to the legitimate business ..... basis of that, section 40(c) applied to employee-directors of the companies and according to this computation, only rs. 10,196 could be disallowed. the income-tax officer, however, took the view that section 40a(5) was applicable and he disallowed rs. 29,495, on that basis. in appeal, the appellate assistant ..... assessee-company felt that section 40a(5) was applicable to employee-directors and, on that basis, it filed its computation before the income-tax officer according to which rs. 26,705, would be disallowed as excessive expenditure. later on, the assessee revised its opinion and filed another computation before .....

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Jun 13 1988 (HC)

Smt. Pratima Roy Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Jun-13-1988

Reported in : [1989]175ITR107(Cal)

..... is answered by saying that in determining the real annual value under section 22 read with section 23 of the income-tax act, the rent receivable should be taken into consideration and not the amount actually supposed to have been received by the assessee. this question is also answered in favour of the ..... such is perverse ? 2. whether, on the facts and in the circumstances of the case, in determining the rea! annual value under section 22 read with section 23 of the income-tax act, 1961, the rent actually received by the assessee should have been taken into account and not the alleged rent which the properties might have fetched ? 3. whether, on the facts ..... ajit kumar sengupta, j.1. at the instance of the assessee, the following questions of taw have been referred to this court under section 256(1) of the income-tax act, 1961, for the assessment years 1970-71 and 1971-72.'1. whether, on the facts and in the circumstances of the case, the finding of the tribunal that the leases ..... the 'owner' and that the assessee herein alone is the 'owner' for the purpose of sections 22 and 23 of the income-tax act, 1961, is correct in law ?' following the judgment of this court in the case of smt. protima roy v. cit : [1982]138itr536(cal) , the first question is answered in the negative and in favour of the revenue. the second question .....

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Jul 11 1988 (HC)

Commissioner of Income-tax Vs. I.T.C. Ltd.

Court : Kolkata

Decided on : Jul-11-1988

Reported in : [1989]175ITR186(Cal)

..... cit v. peico electronics and electricals : [1987]166itr299(cal) , this question is answered in the negative and in favour of ..... company computed in accordance with rules 1 to 3 of the second schedule to the companies (profits) surtax act, 1964, should be proportionately reduced under rule 4 thereof, having regard to the deductions allowed in the income-tax assessments under the various provisions of chapter vi-a of the income-tax act, 1901 ?'4. in view of the decision of this court in the case of ..... 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 1960-61 :'whether, on the facts and in the circumstances of the case, the appellate tribunal was justified in holding that depreciation debited in theaccount ..... was allowed in the assessment should also be included in the capital computation under the second schedule to the companies (profits) surtax act, 1904 ?'2. this question is concluded by the decision of this court in the case of cit v. karam chand thapar and bros. : [1981]131itr175(cal) . following the said decision, we answer this question in the affirmative and in .....

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Jan 25 1988 (HC)

Commissioner of Income-tax Vs. Andhra Metal (P.) Ltd.

Court : Kolkata

Decided on : Jan-25-1988

Reported in : [1988]172ITR153(Cal)

..... cases which are not attracted to the facts of the instant case.4. for the reasons as aforesaid, in view of the said section 80aa of the income-tax act, 1961, the question has to be answered in the negative and in favour of the revenue.5. the reference is disposed of accordingly without any order ..... the facts and in the circumstances of the case, the tribunal was right in holding that the assessee was entitled to relief under section 80m of the income-tax act, 1961, on the gross amount of dividend received from domestic companies and not in respect of the net dividend? '2. it appears that subsequent to the ..... order of the tribunal which was passed on august 23, 1976, a new section 80aa was inserted in the income-tax act, 1961, by the finance (no. 2), act, 1980, with retrospective effect from april 1, 1968. the said section reads as follows:' 80aa. where any deduction is required to be allowed ..... dipak kumar sen, actg. c.j. 1. 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 ..... , then, notwithstanding anything contained in that section, the deduction under that section shall be computed with reference to the income by way of such dividends as computed in accordance with the provisions of this act (before making any deduction under this chapter) and not with reference to the gross amount of such dividends.'3. .....

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Jan 25 1988 (HC)

Commissioner of Income-tax Vs. Ramdutt Ramkissendass

Court : Kolkata

Decided on : Jan-25-1988

Reported in : [1988]172ITR142(Cal)

dipak kumar sen, actg. c.j. 1. 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: ' whether, on the facts and in the circumstances of the case, theassessee's claim for deduction of rs. 76,649 was rightly allowed by thetribunal ' 2. it is found as a fact, which is not in dispute, that in the assessment year 1972-73, the relevant accounting year ending on october 8, 1971, the assessee claimed deduction of the said amount of rs. 76,649 being the provision for gratuity for its employees. the amount of gratuity provided for was calculated on the basis of a valuation made by qualified actuaries. this provision for gratuity was made in view of the west bengal employees' (payment of compulsory gratuity) act, 1971, promulgated by the state of west bengal which came into force on june 14, 1971, and for the first time created a special liability. 3. the controversy involved in the question referred appears to be covered by a decision of this court in cit v. eastern spinning mills ltd. [1980] 126 itr 636. following the said decision, we answer the question in the affirmative and in favour of the assessee. there will be no order as to costs. liberty is given in the advocate on record of the assessee to file his vakalatnama by january 30, 1988.shyamal kumar sen, j. 4. i agree.

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