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Judgment Search Results Home > Cases Phrase: income tax act Court: kolkata Year: 1988 Page 6 of about 125 results (0.033 seconds)

Jul 19 1988 (HC)

Commissioner of Income-tax Vs. D. Mondal

Court : Kolkata

Decided on : Jul-19-1988

Reported in : [1989]175ITR440(Cal)

..... rs. 3 lakhs paid by the company to the managing agents in pursuance of the settlement was expenditure allowable under section 10(2)(xv) of the indian income-tax act. it was held that the payment of rs. 3 lakhs was only for the termination of an arrangement which had become dangerous to the future well-being ..... the sum of rs. 50,000 paid as compensation was an expenditure of a revenue nature and was an allowable deduction under section 37(1) of the income-tax act, 1961 ?'2. the facts relating to this application are that the assessee, who is the owner of the collieries known as pure shampoor collieries, appointed one mr ..... 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 1962-63 :'whether, on the facts and in the circumstances of the case, the tribunal was right in holding that ..... ,000 from this colliery. similarly, he was assessed on an amount of rs. 33,000 for the assessment year 1963-64. on the above facts, the income-tax officer added back the sum of rs. 50,000 in the assessment on the ground that the expenditure was on capital account. the bona fides of the transaction ..... be treated as capital expenditure. mr. bhattacharjee has relied on a decision of the allahabad high court in the case of swadeshi cotton mills co. ltd. v. cit : [1962]46itr906(all) . in that case, the assessee-company which was engaged in the manufacture of cloth and had entered into contracts for the purchase of .....

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Jul 18 1988 (HC)

Commissioner of Income-tax Vs. Kusum Products Ltd.

Court : Kolkata

Decided on : Jul-18-1988

Reported in : [1989]175ITR557(Cal)

..... this court under section 256(1) of the income-tax act, 1961 ('the act'), for the assessment year 1972-73, at the instance of the commissioner is as follows :'whether, on the facts and in the circumstances of the case, the tribunal was right in directing the income-tax officer to allow the asses-see's claim ..... proceedings, the assessee claimed the aforesaid two items, viz., rs. 1,00,000 andrs. 29,372, as deductible expenditure in computing its total income. but the income-tax officer as well as the appellate assistant commissioner disallowed the assessee's claim for deduction of these two amounts on the ground that the payment of ..... decision of the punjab and haryana high court in the case of allied metal products v. cit . in that case, it was held that in view of the statutory provisions governing leases under the transfer of property act, 1882, the lessee was bound to keep, and on the termination of lease to restore ..... 372 for replacing the damaged machinery belonging to the lessor and it claimed the value of such machinery as a deductible expenditure in computing its total income. any replacement made of plant and machinery would be to the advantage of the lessor and not to the advantage of the lessee. the lessee ..... of the factory by the assessee in the course of its business. it is a case where the cost is a legitimate charge against the income as the damaged machinery has been restored to its original condition, and there is no improvement as such.12. for the reasons aforesaid, we .....

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Mar 04 1988 (HC)

Gopalji Shaw Vs. Income-tax Officer, d Ward and ors.

Court : Kolkata

Decided on : Mar-04-1988

Reported in : [1988]173ITR554(Cal)

..... application, the petitioner, the karta of a hindu undivided family, commonly known as gopalji shaw, has challenged the criminal proceeding initiated under section 276cc(ii) of the income-tax act, 1961, against the said family by the income-tax officer, 'd' ward, district iv(i), calcutta. the facts are briefly stated hereafter.2. for the assessment year 1982-83 relevant to the financial year ending ..... made out.18. it was, inter alia, stated in the said complaint-(a) that the accused was under a statutory obligation under section 139(1) of the income-tax act, 1961, to file the return of income for the assessment year 1982-83 for the financial/accounting period ending on march 31, 1982, on or before july 31, 1982. the accused failed and neglected ..... ground for delay in filing the return, had extended the time.17. the object of launching criminal prosecution for wilful default in complying with the provisions of the income-tax act is to prevent evasion of tax. but in each and every case, without looking into the gravity of offence and without considering the attending circumstances, no prosecution should be launched. unless there is ..... ]162itr383(cal) . in that case, for the assessment years 1964-65 and 1966-67 to 1969-70, the assessee was required to file returns under section 139 of the income-tax act, 1961, as it stood at the relevant time by june 30 of the respective calendar years 1964, 1966, 1967, 1968 and 1969. for the assessment year 1966-67, the assessee .....

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Jan 28 1988 (HC)

Commissioner of Income-tax Vs. Hindusthan Motors Ltd.

Court : Kolkata

Decided on : Jan-28-1988

Reported in : (1988)69CTR(Cal)197,[1988]170ITR431(Cal)

..... an assessee for the purposes of his business and utilised as such, will not be a plant within the meaning of section 43(3) of the income-tax act, 1961, and entitled to development rebate.13. for the reasons as aforesaid, we are unable to accept the contentions of the revenue. we answer ..... it was held by a division bench of the andhra pradesh high court that the definition of the expression 'plant', in section 43(3) of the income-tax act, 1961, was of wide amplitude and included even a well if the same was dug for the purpose of the business of the assessee. on the ..... were accepted in toto.8. learned advocate for the assessee, on the other hand, submitted that in its application under section 256(1) of the income-tax act, 1961, the revenue had sought to raise a question of fact before the tribunal as follows :'whether the conclusion and/or finding of the tribunal ..... having regard to the inclusive definition of the said expression in the income-tax act. the tribunal held further that if any apparatus participated in production in any business or had any relation to or bearing on production or manufacture, ..... asalso the supreme court were cited before the tribunal which accepted thewide and broad interpretation given to the expression 'plant' in the context of the income-tax act.5. the tribunal found it to be settled law that the expression 'plant' should be interpreted broadly as had been done by courts and also .....

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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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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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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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