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Judgment Search Results Home > Cases Phrase: income tax act Court: kolkata Year: 1988 Page 7 of about 125 results (0.051 seconds)

Oct 12 1988 (HC)

i.T.C. Ltd. Vs. Union of India (Uoi)

Court : Kolkata

Decided on : Oct-12-1988

Reported in : 1991(53)ELT234(Cal)

..... has to pass an order in accordance with law upholding or rejecting the contention of the tax-payer. this is the role that has to be played by an income-tax officer under the income-tax act, the wealth-tax officer under the wealth-tax act or the commercial tax officers under the various sales-tax legislations. the statute requires him to make investigation and also to judge the merit of ..... his own case in the light of the representations made by the tax-payer. this peculiarity of the role of a ..... facts; though i would point out that the income-tax officer is not a court, he has not the procedure of a court and he is to some extent a party or judge in his own case'.85. this peculiarity of tax laws is also to be found in the scheme of the central excise act. in the proceedings under section 11a of the ..... to be safeguarded against is that in crystallisation and the views of this court and its reluctance to interfere with the findings of fact should not make the tribunals or income tax authorities smug in the belief that as the courts do not interfere with the findings which form the bed-rock upon which the law will be based, they can .....

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Dec 05 1988 (HC)

Commissioner of Income-tax Vs. Simplex Concrete Piles (India) Pvt. Ltd ...

Court : Kolkata

Decided on : Dec-05-1988

Reported in : (1989)79CTR(Cal)71,[1989]179ITR8(Cal)

..... bengal-iv, 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 and in view of the fact that the assessee ..... the assessment year 1965-66, it started the practice of crediting only 90 per cent., deducting the retention money, which resulted in the reduction of income. the income-tax officer treated it as a change in the method of accounting. he did not accept the change. this resulted in the addition of rs. 20, ..... withheld by the irrigation department pending verification of the satisfactory conclusion of the work pertaining to these amounts, and this position had been accepted by the income-tax officer. the assessee had no right to claim this amount and this amount was not assessable in the assessment year 1970-71. the patna high ..... ]161itr418(patna) . in that case, the assessee-company did contract work for the irrigation department of the bihar government. for the assessment year 1970-71, the income-tax officer found that the assessee had not included a sum of rs. 1,64,428 in the bills shown as receivable. it was explained that this amount had ..... admission of liability and no right to receive any part of the retention money accrues to the assessee. accordingly, the tribunal was right in directing the income-tax officer to examine the question of retention money from this angle and make adjustments regarding the same, if necessary.13. dr. pal, the learned advocate .....

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Apr 20 1988 (TRI)

income-tax Officer Vs. Seth Gangajal Jaluram Charity

Court : Income Tax Appellate Tribunal ITAT Kolkata

Decided on : Apr-20-1988

Reported in : (1988)27ITD451(Kol.)

..... : 1. that, on the facts and in the circumstances of the case, the learned commissioner of income-tax (appeals) erred in directing the income-tax officer that the amount of rs. 3,10,000 should be treated as application of income for the purpose of section 11 of the income-tax act; 2. that, on the facts and in the circumstances of the case, the learned commissioner of ..... income-tax (appeals) erred in computing the total income to a minus figure from total income of rs. 1,53,515; 3. that, the order of the learned ..... commissioner of income-tax (appeals) may be reversed and that of the income-tax officer restored.2. the facts ..... ,500 which included donation of 3,100 preference shares of rs. 100 each purchased in the earlier years. however, the donation as required under section 11(1)(a) of the income-tax act, 1961 was given by the assessee at rs. 87,500. the income-tax officer accordingly took into consideration the application of rs. 87,500 for charitable purposes out of the .....

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Dec 26 1988 (TRI)

Smt. Chanda Devi Saraf Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Kolkata

Decided on : Dec-26-1988

Reported in : (1990)32ITD518(Kol.)

..... those decisions, we hold that there is no valid sanction of the c.b.d.t. as laid down in section 151(1) of the income-tax act, 1961, and so the consequent initiation of the proceedings by the ito are without jurisdiction. ..... held that there was no valid sanction as laid down in section 151(2) and that the consequent initiation of proceedings by the income-tax officer would be without jurisdiction. while coming to that conclusion, the hon'ble orissa high court had referred to and followed a decision of the hon'ble ..... space provided in the rubber stamp. in the case of govinda choudhury & sons v. ito [1977] 109 itr 370 (ori.) wherein the proposals sent by the income-tax officer for initiating reassessment proceedings the commissioner did not write in his own hand writing 'yes', but the word was affixed by means of a rubber stamp, it was ..... mechanically. in the circumstances, the reassessment made on 7-3-83 should be cancelled.5. the departmental representative filed photostat copies of the order sheet of the income-tax assessment file of the assessee and photostat copy of the telegram from the c.b.d.t. received on 24-3-79 and photostat copy of affidavit of ..... bringing of jewellery from pakistan was mentioned in the declarations of trust and that the fact of gifts was known to the ito when he made the original income-tax assessment for the assessment year 1963-64. from this, it is clear that there was no new information to the ito for reopening of the assessment. further .....

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May 06 1988 (TRI)

income-tax Officer Vs. Mrs. Sunita Kumar

Court : Income Tax Appellate Tribunal ITAT Kolkata

Decided on : May-06-1988

Reported in : (1988)27ITD497(Kol.)

..... relevant to the assessment year 1980-81. this disallowance is in conformity with the provisions of section 73a(3) read with section 71(2) of the income-tax act, 1961.2. the assessee is an individual deriving income from salary, dividend, interest on debenture, bank interest, insurance commission and horse races. during the year, under consideration, the assessee earned a profit of rs. 99 ..... to the assessment year 1980-81, in contravention of the provisions of section 74a(3) of the income-tax act, 1961. 2. that, on the facts and in the circumstances of the case, the learned commissioner of income-tax (appeals) ought to have confirmed the decision of the income-tax officer in not allowing the setting off of the carried forward loss in 'horse racing' under the ..... ) relating to the assessment year 1980-81 on the following grounds: 1. that, on the facts and in the circumstances of the case, the learned commissioner of income-tax (appeals) erred in directing the income-tax officer to allow the carried forward losses in 'horse racing' under the head 'other sources' relating to the assessment years 1976-77 to 1979-80 against short-term ..... in race horses. he directed the ito accordingly.4. shri n.k. saxena, the learned representative for the department, urged before us that the cit(a) erred in his decision. he relied on the commentary on income-tax law by sampath iyengar at page 2540 (7th edition). he urged that the losses of the earlier years as determined by the ito did not .....

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Jun 03 1988 (TRI)

Borhat Tea Co. Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Kolkata

Decided on : Jun-03-1988

Reported in : (1989)28ITD166(Kol.)

..... finlay ltd. it was further stated1that, interest and dividends represented income from which tax was required to be deducted at source under chapter xvii of the income-tax act, 1961. it was asserted that under section 209 tax calculated on the estimated income shall be reduced by the amount of tax deductible at source. therefore, the tax deductible at source is not required to be paid as advance ..... tax, whether or not, such tax has actually been deducted by the payer. it was further ..... year 1981-82 it was found by the ito that the assessee did not file statement of advance tax nor paid advance tax during the relevant accounting year. the ito initiated penalty proceedings against the assessee under section. 273(2)(c) of the income-tax act, 1961. a notice under section. 274 read with section 273 was accordingly issued and served upon the ..... 195 is deducted from the income-tax calculated under section 209(1), the advance tax payable would be nil is not tenable. under the finance act, 1981, income-tax is payable by the assessee on interest and dividend income at 70 per cent. further surcharge at 7j per cent is also payable on income-tax. in respect of income by way of dividends tax at the rate of 25 .....

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Dec 08 1988 (HC)

Commissioner of Income-tax Vs. Sriram Industrial Distribution

Court : Kolkata

Decided on : Dec-08-1988

Reported in : (1989)76CTR(Cal)198,[1989]176ITR180(Cal)

..... bengal-ix, 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 1973-74 :'whether, on the facts and in the circumstances of the case and on a proper construction of the deed dated the twenty-sixth ..... the terms and conditions of the partnership. the assessee filed an application for registration in respect of the assessment year 1971-72 in form no. 11a of the income-tax rules, 1962. the income-tax officer declined to grant registration for that year on the ground that registration was refused to the assessee in earlier years and that there had been no change in ..... declaration under section 184(7) claiming the benefit of continuation of registration. as the assessee was not allowed registration for the preceding year, the income-tax officer declined to allow the benefit claimed.4. against the order of the income-tax officer, the assessee filed an appeal before the appellate assistant commissioner, who allowed the appeal, following the orders for the assessment years 1969 ..... liable to pay interest as provided in clause 8 of the deed of partnership.7. the first ground has no substance in view of the decision of this court in cit v. associate industrial distributors : [1982]138itr304(cal) , where a contention was raised that the terms and conditions for the minor being admitted to the benefits of the partnership had not .....

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Mar 19 1988 (HC)

Commissioner of Income-tax Vs. Rallis India Ltd.

Court : Kolkata

Decided on : Mar-19-1988

Reported in : (1988)72CTR(Cal)215,[1988]174ITR550(Cal)

..... relevant accounting year ?'the income-tax officer disallowed the claim of the assessee for relief under section 80j(3) in respect of the new sumithion ..... 80j of the income-tax act, 1961, should not be computed proportionately with reference to the number of days of operation during the ..... ajit k. sengupta j. - at the instance of the commissioner of income-tax, west bengal iv, calcutta, the following question of law for the assessment year 1976-77, 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 tribunal was justified in holding that deduction under section ..... the same with reference to the number of days the unit operated. the matter was brought before the appellate tribunal by the revenue challenging the direction of the commissioner of income-tax (appeals). the appellate tribunal noted that it was not disputed that the decision in the case of simpson and co. : [1980]122itr283(mad) was applicable. it also noted that .....

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Dec 29 1988 (TRI)

Kusum Products Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Kolkata

Decided on : Dec-29-1988

Reported in : (1989)29ITD293(Kol.)

..... . in the notice of demand dated 25-2-1972 for the assessment year 1967-68, the ito has granted interest of rs. 1,15,145 under section 214 of the income-tax act, 1961. the said demand notice can be seen at pages 17 and 18 of the paper book. the assessment for the assessment year 1967-68 was the subject of appeal ..... claiming as a deduction a sum of rs. 1,14,212 to arrive at the returned income and that the assessee was, therefore, liable to penalty under section 271(1)(c) of the income-tax act, 1961. considering the facts and circumstances of the case, he imposed a penalty of rs. 2,00,000 after obtaining the previous approval of the iac. aggrieved by ..... the order of the ito the assessee preferred an appeal to the cit(a).3. before the cit(a) it was contended that the assistant of ..... . 65,957. (iii) the assessee's contention that interest under section 214 is exempt from tax is not tenable. interest received under section 214 is an income chargeable to tax under the it act and there is no question of granting any deduction for the said amount while determining the total income of the assessee. (iv) the assessee's contention that rs. 1,14,212 was .....

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Dec 28 1988 (HC)

Himalaya Co. Ltd. Vs. Income-tax Officer.

Court : Kolkata

Decided on : Dec-28-1988

Reported in : [1989]30ITD139(Cal)

..... of banking or the granting of loans and advances. he was of the opinion that the assessee-company was squarely hit by the explanation to section 73 of the income-tax act, 1961. he also noted that in the assessment year 1977-78 and the following assessment years the business losses of the assessee arose out of its business of purchase ..... rs. 78,400. according to section 109(ii) of the income-tax act, 1961 investment company means a company whose gross total income consist mainly of income which is chargeable under the heads, 'interest on securities', 'income from house property', 'capital gains' and 'income income means total income computed in accordance with the provisions of this act before making any deduction under' chapter vi-a as the dividend ..... charged as business income and rs. 78,400 being dividend income charged as 'income from other sources', of a company whose gross total income consists mainly of income which is chargeable under the heads 'interest on securities ..... virtue of section 109(iv). section 109(iv) defines gross total income as total income computed in accordance with the provisions of the act before making any deduction under chapter vi-a. the provisions for giving deduction under section 80m is contained in chapter vi-a of the income-tax act, 1961. so the cit (a) should have compared the figures of rs. 65,079 .....

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