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Judgment Search Results Home > Cases Phrase: income tax act Court: kolkata Year: 1989 Page 1 of about 216 results (0.037 seconds)

Mar 14 1989 (HC)

British Paints (India) Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Mar-14-1989

Reported in : [1991]190ITR196(Cal)

..... the interest purported to be referable to the company's overdrafts from the chartered bank to the extent of the payment of its aforesaid income-tax liability did not qualify for allowance under section 36(1)(iii) of the income-tax act, 1961 ?' 2. the assessment year is 1973-74 for which the accounting year was the year ending december 31, 1972. a sum of ..... rs. 14,917 paid by way of interest to a bank was disallowed by the income-tax officer on the ground that this interest was really for the ..... of law to this court :'1. whether, on the facts and in the circumstances of the case, the tribunal was right in presuming that payments of the assessee-company's income-tax liability were made during the previous year out of its overdraft from the chartered bank when all the company's sale proceeds and receipts during the year covering its profits ..... purpose of money borrowed for payment of income-tax.3. in the appeal before the appellate assistant commissioner, it was pointed by the assessee that as against payments of rs .....

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Dec 15 1989 (HC)

Puranmal Rajkumar Vs. Tax Recovery Officer and ors.

Court : Kolkata

Decided on : Dec-15-1989

Reported in : [1991]187ITR706(Cal)

..... for the assessment year 1966-67, the petitioner firm had been assessed by the income-tax officer and the total income was computed at rs. 79,346 and there was imposition of penalty under section 271(1)(a) of the income-tax act for late filing of the return and the penalty imposed amounted to rs. 3, ..... the tax dues, and as to the jurisdiction of the tax recovery officer. in support of his contention, he has referred to the cases in kapurchand shrimal ..... 800. for the assessment year 1967-68, the petitioner firm was assessed by the appropriate income-tax officer and the income assessed amounted to rs. 1,12,502, the ..... has argued at length contending that the steps taken by the income-tax authorities to recover the dues are unwarranted and uncalled for. he has drawn the attention of the court to sections 220, 222, 223 and 224(2) of the income-tax act and referred to this court as to this scope of recovery of ..... in particular to the pleadings made by the parties, it appears that both the appeals are still now pending before the appellate assistant commissioner of income-tax, jalpaiguri. the assessments made for the subsequent years have been completed and the result is in favour of the department. the only point raised .....

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Jun 05 1989 (HC)

Sri Kewal Chand Bagri Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Jun-05-1989

Reported in : [1990]183ITR207(Cal)

..... the income. if income does not result at all, there cannot be a tax, even though in book-keeping, an entry ..... to the judgment of the supreme court in the case of cit v. shoorji vallabhdas and co. : [1962]46itr144(sc) , where the supreme court held (headnote) :'income-tax is a levy on income. though the income-tax act takes into account two points of time at which the liability to tax is attracted, viz., the accrual of the income or its receipt, yet the substance of the matter is ..... is made about a 'hypothetical income', which does not ..... materialise. where income has, .....

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Mar 01 1989 (HC)

Commissioner of Income-tax Vs. Shyam Sunder and Co.

Court : Kolkata

Decided on : Mar-01-1989

Reported in : [1990]181ITR187(Cal)

..... the following questions of law under section 256(2) of the income-tax act, 1961 ('the act').'1. whether, on the facts and in the circumstances of the case, the tribunal relied on irrelevant materials and ignored relevant evidence in holding that the sum of rs. 1,68,885 is not the income of the assessee from undisclosed sources for the assessment year 1968 ..... further investigation: but in the other cases, the tribunal has taken notice of the fact that confirmatory letters were submitted on behalf of the creditors. the income-tax file numbers were given and the income-tax officer did not summon any of the money-lenders for examination. the tribunal having considered all aspects of the matter, came to the conclusion that some ..... co. and smt. kushumlata khemka. these cheque transactions were not successfully impugned....''the cash transactions in the case of the other parties could have again been verified by the income-tax officer by. looking into the assessment records of these creditors and also finding out whether they were credit-worthy. this was not done. therefore, we uphold the appellate assistant ..... the interest of justice, the issue relating to these four parties involving loans aggregating to rs. 27,789 should be redecided by the appellate assistant commissioner after hearing the income-tax officer as well as the assessee. if the appellate assistant commissioner feels satisfied that the creditors had acknowledged the loans and the creditors were credit-worthy, he should treat .....

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Mar 02 1989 (HC)

Commissioner of Income-tax Vs. Bengal Jute Mills Co. Ltd.

Court : Kolkata

Decided on : Mar-02-1989

Reported in : [1989]179ITR198(Cal)

..... chandra sen, j.1. following three questions of law have been referred by the tribunal under section 256(2) of the income-tax act, 1961, to this court:'(i) whether, on the facts and in the circumstances of the case, the tribunal erred in ..... to the assessee, the tribunal should not take notice of them in deciding the appeal and the learned departmental representative supported the action of the income-tax authorities.8. it appears that the tribunal has examined the evidence afresh or new evidence which was not there before the appellate assistant commissioner. ..... but the appellate assistant commissioner rejected the prayer of the assessee and passed the order on the same day, confirming the action taken by the income-tax officer. it was also submitted that, under those circumstances, the relevant books of account as well as the voucher and the memo could not ..... been fully discussed by various authorities. it was submitted that rs. 4 lakhs sent to shri shaligram chowdhury was assessed in his hands by the income-tax officer having jurisdiction over him, but in the appeal preferred by shri chowdhury, the appellate assistant commissioner deleted the same after accepting the submissions made ..... and ignored relevant material and/or acted partly on irrelevant material in coming to the finding that there was, in fact, only one transaction of rupees four lakhs on october 30, 1950, and in deleting the sum of rupees four lakhs treated by the income-tax officer and the appellate assistant commissioner .....

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Mar 07 1989 (HC)

Commissioner of Income-tax Vs. S.C. Laul

Court : Kolkata

Decided on : Mar-07-1989

Reported in : [1993]202ITR244(Cal)

..... suhas chandra sen, j. 1. the following three questions of law have been referred by the tribunal under section 256(2) of the income-tax act, 1961 (for short, 'the act') :'1. whether, on the facts and in the circumstances of the case, the tribunal misdirected itself in law in holding that a mistake apparent from the record has crept in ..... looking at all the above facts, the tribunal was of the considered opinion that the assessee had failed to prove that the income of rs. 59,375 brought to tax by the income-tax officer was agricultural income exempt from taxation under the act. that being the position, the tribunal confirmed the order of the appellate assistant commissioner on this point.8. this order was ..... not show any enquiry having been conducted by the income-tax officer in the matter nor had those assessment orders been produced before the present income-tax officer. he finally submitted that it was for the assessee to prove that the income sought to be taxed was agricultural income exempt from taxation under the relevant provisions of the act and since that burden had not been discharged ..... in the present case, the assessability of the amount in dispute as the assessee's income from undisclosed sources could .....

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Jun 06 1989 (HC)

Jayshree Tea and Industries Limited Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Jun-06-1989

Reported in : [1993]202ITR695(Cal)

..... this court : '1. whether, on the facts and in the circumstances of the case, the assessee is entitled to weighted deduction under section 35b of the income-tax act, 1961, in its assessment for the accounting period relevant to the assessment year 1975-76 in respect of the amounts of rs. 25,69,739 incurred by ..... 7. aggrieved by the said order of the commissioner of income-tax (appeals), the assessee brought the matter by way of appeal to the tribunal. the tribunal, after hearing both learned counsel for the assessee and the departmental ..... of 1976-77, upheld the order and directed the income-tax officer to allow weighted deduction to the assessee in respect of an amount of rs. 71,210 out of the said claim of rs. 1,79,760. ..... aggrieved bythe said disallowance, the assessee brought the matter by way of appeal before the commissioner of income-tax (appeals). he, following the decision of the special bench of the tribunal of bombay in i. t. a. no. 3255 of 1976-77 and 3330 ..... office expenses. according to the assessee, it was entitled to weighted deduction under section 35b in respect of the said expenditure which pertained to export. the income-tax officer negatived the said claim of the assessee by observing that the head office expenses were incurred in india and as such nothing can be allowed. .....

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Nov 15 1989 (HC)

Attareekhat Tea Co. Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Nov-15-1989

Reported in : [1993]201ITR752(Cal)

..... 1c. sen, j.1. the tribunal has referred to this court, the following question of law under section 256(1) of the income-tax act, 1961 ('the act') :'whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal was correct in holding that the loss in exchange on remittance of profits amounting to rs. 3,27,978 in the case of ..... or the destination of that income or calculation of that income in england in pound sterling cannot possibly have ..... in india. therefore, it is the indian part of the income which will be included in the total income. the assessees may have income from various other sources which will be taken into account when the assessees are to be taxed in england. section 5(2) of the act does not take into account all such income. it is the indian part of the total world ..... income that is taxed in india. what happens to the income after it is earned .....

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Jun 26 1989 (HC)

Commissioner of Income-tax Vs. Lachatoorah Tea Co. Ltd.

Court : Kolkata

Decided on : Jun-26-1989

Reported in : [1993]200ITR391(Cal)

..... association of the company. it is now well settled that, even if the business is illegal, it would still be a business within the meaning of the income-tax act ; if any profits are derived from such business, the same are assessable and there cannot be any distinction between the losses and profits of the illegal business. ..... ajit k. sengupta, j.1. in this reference under section 256(2) of the income-tax act, 1961, relating to the assessment years 1963-64 and 1964-65, the tribunal has referred the following common question of law to this court :' ..... or hessians, carried on certain speculative purchases and sales on a large scale of twills and hessians and incurred losses. the claim was disallowed by the income-tax officer on the groundthat the transactions were outside the scope of the powers of the company under the memorandum of association and also on the ground that ..... pakistan. the managing agent, however, disclosed the carrying on of the business in groudnut and masoor on behalf of the assessee in both the years. the income-tax officer in pakistan required the assessee to produce the articles of association to show that it could carry on business in the commodities but the assessee expressed ..... that the agent acted on the instructions of the assessee. he held that the business in question was not of the assessee and disallowed the assessee's claim of losses of rs. 1,10,636 and rs. 1,89,919 in the assessment years 1963-64 and 1964-65, respectively.the income-tax officer in india .....

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May 09 1989 (HC)

Commissioner of Income-tax Vs. Ganga Properties Ltd.

Court : Kolkata

Decided on : May-09-1989

Reported in : [1993]199ITR94(Cal)

..... whether, on the facts and in the circumstances of the case, the tribunal was right in law in holding that section 52(2) of the income-tax act, 1961, had no application and could not be invoked? (2) whether, on the facts and in the circumstances of the case, the tribunal ..... this background, the conclusion of the tribunal that the expenses incurred were wholly and exclusively for the activities to earn income is pre-eminently a reasonable conclusion. we have considered a similar case in income-tax reference no. 360 of 1979 (ctt v. new savan sugar and gur refining co. ltd. : [1990] ..... the facts relating to the third question are that the income-tax officer disallowed certain expenses claimed by the assessee while computing the income from other sources. total expenses claimed by the assessee amounted to rs. 22,384. out of the above, the income-tax officer allowed rs. 3,145 (a portion of salary ..... , according to the tribunal, can be said to be for any purpose other than those wholly and exclusively required for its activities to earn income. the tribunal, therefore, allowed the expenditure.6. at the hearing, it was contended by learned counsel appearing for the petitioner that a similar ..... ) under the head 'property' and another sum of rs. 490 (being interest) under other sources and disallowed the balance of rs. 18,675 as expenses not spent wholly and exclusively for the purpose of earning the interest income of rs .....

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