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Judgment Search Results Home > Cases Phrase: income tax act Court: kolkata Year: 1992 Page 2 of about 169 results (0.032 seconds)

Sep 25 1992 (HC)

Commissioner of Income-tax Vs. Rungta Mines (P.) Ltd.

Court : Kolkata

Decided on : Sep-25-1992

Reported in : [1994]205ITR335(Cal)

..... reference, the following two questions of law have been referred by the tribunal pursuant to the order of this court under section 256(2) of the income-tax act, 1961 ;'1. whether, on the facts and in the circumstances of the case, the sum of rs. 4,000 (rupees four thousand only) ..... assessee-company claimed expenses of rs. 4,100 and rs. 4,000 being labour welfare expenses for the respective assessment years. according to the income-tax officer, the amount was spent on cost of construction of labour welfare fund quarters and, therefore, the assessee's claim was rejected. in this ..... permitted to pursue its trading activity, the expenditure would be an outgoing from the profits of the trade. in cit v. associated cement companies ltd. : [1974]96itr650(bom) , the cement factory of the assessee was situate outside the municipal limits of a town ..... examine the question of admissibility of business expenditure as if all revenue expenditure must be equated with expenditure in connection with the stock-in-trade. see cit v. amalgamated development ltd. : [1967]65itr395(sc) .8. where the law imposes on the assessee an obligation to incur expenditure for being ..... in appeal to the appellate assistant commissioner who deleted the additions from the respective assessments by relying entirely upon the decision of the madras high court in cit v. t.v. sundaram iyengar and sons (p.) ltd. : [1974]95itr428(mad) , and the order of the appellate tribunal for the earlier .....

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Jun 22 1992 (HC)

Sri Sri Jagannath Jew Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Jun-22-1992

Reported in : [1994]205ITR487(Cal)

..... after defraying expenses were not held in trust for charitable purposes and were not exempt from taxation under section 4(3)(i) of the indian income-tax act, 1922 ; and (d) the amounts spent for performing sraddha and other ceremonies for the spiritual benefit of the testator, etc., were not ..... kumar sen, j.1. pursuant to the direction of this court made in an application under section 256(2) of the income-tax act, 1961, the tribunal has referred the following questions :'(1) whether, on the facts and in the circumstances of the case ..... and religious purposes. on a consideration of the materials on record and facts and circumstances of the case, the tribunal maintained the order of the income-tax officer partly allowing the expenses incurred on motor car upkeep expenses and partly allowing the expenses incurred on trustees' remuneration.10. in our view, ..... family deity and, thereafter, spend amounts on charitable and public purposes and, lastly, to pay the remuneration, allowances and private donations. the income-tax officer determined the income of the trust estate at rs. 2,91,625 and deducted therefrom the amounts spent on charitable objects such as feeding of the poor ..... pay remuneration and meet expenses of shebaits and allowances to members of the family, upkeepof horses, carriages, repairs, etc., out of the income. the commissioner of income-tax (appeals) held that the testator gave away the estate to the deity and created an absolute debutter thereby. the assessee was not satisfied .....

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Apr 06 1992 (HC)

Commissioner of Income-tax Vs. United Collieries Ltd.

Court : Kolkata

Decided on : Apr-06-1992

Reported in : [1993]203ITR857(Cal)

..... assessee, the commissioner of income-tax (appeals) observed that there was no fresh investment during the assessment years in shares wherefrom any dividend has been ..... the department, the tribunal observed that it is a well-settled principle now that deduction under section 80m of the income-tax act, 1961, requires to be allowed on the gross dividend instead of deducting the allocation of expenses incurred in earning the dividend income. thus, the tribunal dismissed both the appeals preferred by the department.4. on these facts, the following question ..... . sengupta, j.1. this reference under section 256(2) of the income-tax act, 1961, relates to the assessment years 1982-83 and 1983-84. the facts are that the assessee-company disclosed dividend income of rs. 42,680 and rs. 47,680, respectively, for the two years under reference. the income-tax officer computed proportionate expenses for earning such dividend at rs. 8,099 ..... of rs. 42,680 and rs. 47,680, respectively, computing the net income from dividend at rs. 34,581 and rs. 32,420, respectively, for the assessment years 1982-83 and 1983-84. thereafter, he allowed deduction under section 80m of the income-tax act, 1961,. on such net income from dividend for both the years under reference.2. on appeal by the .....

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Jan 14 1992 (HC)

Cultural Enterprises Corporation Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Jan-14-1992

Reported in : [1992]196ITR488(Cal)

..... ajit k. sengupta, j.1. in this reference under section 256(1) of the income-tax act, 1961, for the assessment year 1977-78, the following question of law has been referred to this court :'whether on ..... and replacement could not be said to be revenue expenditure.8. the tribunal, therefore, set aside the order of the commissioner of income-tax (appeals) and restored that of the income-tax officer.9. the assessee filed a miscellaneous application which was partly allowed.10. however, the said miscellaneous petition does not bear on ..... amount was spent by the assessee for renovation of the buildings referred to above.3. the assessee appealed to the commissioner of income-tax (appeals).4. the commissioner of income-tax (appeals) after going through the details of the expenses found that in fact a sum of rs. 35,000 only was ..... the amount was spent was dilapidated. therefore, a dilapidated house would necessarily require extensive repairs. this dilapidated condition is also emphasised by the commissioner of income-tax (appeals). the tribunal, however, came to the conclusion that the amount was spent for renovation or extensive repairs of a house. a renovation merely ..... section 37 of the act. such view has been taken in a number of cases : regal theatre v. cit , girdhari dass and sons v. cit : [1976]105itr339(all) and liberty cinema v. cit : [1964]52itr153(cal) . the tribunal has overlooked the fact recorded by the income-tax officer in the assessment order. the income-tax officer observed 'the .....

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Jan 29 1992 (HC)

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

Court : Kolkata

Decided on : Jan-29-1992

Reported in : [1995]215ITR844(Cal)

..... allowable under section 80m, it has to be allowed with reference to the amount of dividend computed in accordance with the provisions of the income-tax act. therefore, expenditure, if any, incurred in earning such dividend income, has to be taken into consideration. but this decision will have no application to the facts and circumstances of this case.8. in ..... on the facts and in the circumstances of the case, the income-tax appellate tribunal was justified in law in holding that the income-tax officer had exceeded his jurisdiction in computing the net dividend income and then allowing relief under section 80m by passing the rectification order under section 154 of the income-tax act, 1961 ?'2. shortly stated, the facts are that the ..... on securities and dividend. the income-tax officer had completed the original assessments allowing reliefs under section 80m of the act on the gross amounts of dividend following the ..... assessee is a limited company deriving income from business in money-lending, interest .....

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Feb 03 1992 (HC)

Commissioner of Income-tax Vs. Active Traders (P.) Ltd.

Court : Kolkata

Decided on : Feb-03-1992

Reported in : [1995]214ITR583(Cal)

..... court :' whether, on the facts and in the circumstances of the case, the tribunal was justified in law in annulling the order under section 263 of the income-tax act, 1961, passed by the commissioner of income-tax ?'the facts leading to this reference are that the assessment of the assessee, a private limited company was completed by the ..... on account of share capital was accepted, it cannot be said that the conclusion of the cit on these facts is erroneous.application :also to current assessment years.income tax act 1961 s.263 ajit k. sengupta, j.1. in this reference under section 256(1) of the income-tax act, 1961, for the assessment year 1986-87, the following question has been referred to this ..... therefore, the assessment made by the assessing officer was erroneous in so far as it was prejudicial to the interests of the revenue. the commissioner of income-tax accordingly, passed an order under section 263 of the act and directed the assessing officer to frame the assessment order de novo.3. before the tribunal, the assessee submitted that, after verification and examination of ..... the shareholders, the assessing officer made his assessment order. the commissioner of income-tax passed his order without applying his mind and it was based on preconceived notions. .....

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Jan 30 1992 (HC)

National Insurance Co. Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Jan-30-1992

Reported in : [1995]213ITR862(Cal)

..... was not signed and verified by the person competent to do so. it may be mentioned that the provision in section 139(9) would override the other provisions of the income-tax act including section 292b in a case where any of the specified defects is not removed within the time allowed, in which case the return shall be treated as an invalid ..... of income filed on february 14, 1978, over the signature and verification of mr. n. l. kanodia, a director, was invalid ?'2. shortly stated, the ..... . sengupta, j.1. in this reference under section 256(2) of the income-tax act, 1961, the following question of law has been referred to this court :' whether, on the facts and in the circumstances of the case and on a proper interpretation of sections 140(c) and 292b of the income-tax act, 1961, the tribunal was justified in law in holding that the return ..... filed had been verified by one niranjan kanodia, general manager of the assessee-company. since this verification was not in accordance with the provisions of section 140(c) of the act, the income-tax officer addressed a letter dated february 28, 1979, to the managing director of the assessee-company drawing his attention to the provisions of section 140(c). he,further pointed .....

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Jan 28 1992 (HC)

Peico Electronics and Electricals Ltd. Vs. Deputy Commissioner of Inco ...

Court : Kolkata

Decided on : Jan-28-1992

Reported in : [1994]210ITR991(Cal)

..... of section 150(1) are applicable.'5. the scope of section 150(1) has been examined by various courts from time to time under the income-tax act, 1961, and also the corresponding section under the repealed indian income-tax act, 1922. the supreme court held in the case of ito v. murlidhar bhagwan das : [1964]52itr335(sc) that the 'finding and direction that ..... , the matter was controversial and rectification was not proper.on appeal against the order of the commissioner of income-tax (appeals), the income-tax appellate tribunal by its order dated july 7, 1985, upheld the order under section 154 of the assessing officer on the ground that investment allowance had been wrongly ..... of the facts disclosed by the assessee at the time of the assessment proceedings and also on the basis of certain notes given by the assessee along with his income-tax return. the income-tax officer has recorded as follows :'now, in the notes given by the assessee below the details of investment allowance claim for the following factories filed with the ..... allowance claimed in respect of these factories was withdrawn. on appeal filed by the assessee against the order under section 154 dated may 20, 1985, aforesaid, the learned commissioner of income-tax (appeals) held in his order dated august 19, 1985, that even though the aforesaid factories were manufacturing items which were domestic electrical appliances and, therefore, hit by schedule xi .....

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Jul 30 1992 (HC)

Anandilal Goenka and ors. Vs. Tax Recovery Officer and ors.

Court : Kolkata

Decided on : Jul-30-1992

Reported in : [1994]208ITR46(Cal)

..... of attachment dated june 7, 1977, under rule 26(1)(ii) of the second schedule to the income-tax act, 1961 '(in short 'the act'), issued by the tax recovery officer-ii (income-tax), jaipur (in short 'the tro'), on the trust in respect of an alleged demand bt tax against a private trust, known as raja baldeodas birla santatikosh trust (in short 'the private trust'). the ..... assessment years1971-72 to 1974-75 to the tribunal, jaipur bench. during the pendency of the said appeals before the tribunal, jaipur bench, the central board of direct taxes transferred the income-tax cases of the said private trust to calcutta and the said appeals before the tribunal, jaipur bench, were transferred to the calcutta bench. (e) the said appeals of ..... (d) for the assessment years 1971-72 to 1974-75, the appellate assistant commissioner dismissed the appeals of the said private trustagainst the said orders of assessments of the income-tax officer following the said decision of the tribunal, jaipur bench, for the assessment year1970-71. the said private trust preferred appeals against the said orders of the appellate assistant ..... petitioners have also challenged an order dated june 22/27, 1977, passed by the said tax recovery officer rejecting .....

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Sep 25 1992 (HC)

Commissioner of Income-tax Vs. Banshidhar Jalan and Sons

Court : Kolkata

Decided on : Sep-25-1992

Reported in : [1994]207ITR488(Cal)

..... ajit kumar sengupta, j. 1. in this reference under section 256(1) of the income-tax act, 1961, the following questions of law have been referred to this court for the assessment years 1968-69 and 1973-74 :'1. whether, on the facts and in the circumstances ..... being similar to the earlier return except for a marginal variation of rs. 400 could be deemed to have been acted upon, and the validity of the assessment cannot be questioned. this also did not find favour with the tribunal as the income-tax officer, as evident from the assessment order, consciously ignored the revised return.3. the tribunal has taken the view ..... duty of the appeal court to set right such defect in the proceeding. thus, the income-tax officer's refusal to take cognizance of the revised return could be an act that merely misdirected the course of the proceeding but could not be said to be an act that undermines the jurisdiction to assess.6. there could be another situation where the assessment order ..... and any assessment completed on the basis of such superseded earlier return would be an act beyond jurisdiction.5. we have heard the rival contentions of the learned advocates of the parties appearing before us. we are not persuaded to subscribe to the view that the income-tax officer, by reason of not taking any cognizance of the revised return and having completed .....

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