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Judgment Search Results Home > Cases Phrase: income tax act Court: kolkata Year: 1992 Page 7 of about 169 results (0.034 seconds)

Apr 09 1992 (HC)

i.T.C. Limited Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Apr-09-1992

Reported in : [1994]205ITR126(Cal)

..... before the previous year, the actual cost to the assessee less all depreciation acutally allowed to him under this act ; or under the indian income-tax act, 1922 (11 of 1922), or any act repealed by that act, or under any executive orders issued when the indian income-tax act, 1886 (2 of 1886), was in force : provided that in determining the written down value in respect of buildings ..... section 32, 'depreciation actually allowed' shall not include depreciation allowed under sub-clauses (a), (b) and (c) of clause (vi) of sub-section (2) of section 10 of the indian income-tax act, 1922 (11 of 1922), where such depreciation was not deductible in determining the written down value for the purposes of the said clause (vi).'12. it is the contention of ..... was erroneous in accepting that the amount of rs. 58,96,594 was exempt under sub-clause (ix) of clause (b) of the explanation, to section 40a(8) of the income-tax act, 1961 ? 3. whether, on the facts and in the circumstances of the case, the tribunal is right in holding that the initial depreciation under section 32(1)(v) of the ..... income-tax act is required to be deducted in determining the written down values of the depreciable assets in the computation of capital employed for the purpose of section 80j ?' 2. the first .....

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Nov 27 1992 (HC)

Coates of India Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Nov-27-1992

Reported in : [1994]205ITR373(Cal)

..... our view, the amounts reimbursed are clearly covered by the expression 'expenditure on running and maintenance of motor cars' as appearing in sub-section (3b) of section 37 of the income-tax act, 1961.9. we are, therefore, of the view that the tribunal was right in holding that reimbursement of rs. 5,49,917 made to the employees towards expenditure incurred by ..... . in this reference at the instance of the assessee, the following question has been referred by the tribunal for the opinion of this court under section 256(1) of the income-tax act, 1961 :'whether the tribunal was right in holding that a sum of rs. 5,49,917 representing expenses incurred by some of the assessee-company's employees for use of ..... their own motor car for the purpose of the assessee-company's business and reimbursed to them as such, was hit by section 37(3a)/(3b) of the income-tax act, 1961 ?'2. this reference relates to the income-tax assessment of the assessee-company for the previous year ending october 31, 1983, corresponding to the assessment year 1984-85. the assessee-company derives ..... assessee-company's employees for use of their own motor cars was rs. 5,49,917. the income-tax officer felt that this reimbursement was hit by the provisions of section 37(3a)/(3b) of the income-tax act, 1961. this view was upheld both by the commissioner of income-tax (appeals) as well as by the tribunal.3. under sub-section (3a) of section 37, where .....

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Jul 06 1992 (HC)

J.K. Trust Vs. Commissioner of Wealth-tax

Court : Kolkata

Decided on : Jul-06-1992

Reported in : [1994]205ITR524(Cal)

..... substantial contribution. therefore, the first foundation that the concerns whose shares were held were substantial contributors thereby coming within the scope of sub-section (3) of section 13 of the income-tax act, 1961, is not tenable.14. the tribunal further found, apart from inapplicability of the provisions of sub-section (3) of section 13, that the shareholding was within five per ..... section (3) enumerates the persons who are prohibited from deriving benefit under clause (c) of sub-section (1) of section 13. the scheme of disqualification in section 13 of the income-tax act, 1961, requires to be highlighted for a proper appreciation of the dispute.7. clause (c) of sub-section (1) of section 13 disqualifies a charitable or religious trust from ..... companies. therefore, it was a partial violation of section 13(2)(h) of the income-tax act, 1961. the wealth-tax officer also noted that the assessee had an unsecured loan investment with several concerns which had given huge donations to the assessee in different years. though described as deposits ..... which had made substantial contributionto the assessee-trust thereby attracting the provision of clause (e) read with clause (b) of sub-section (3) of section 13 of the income-tax act, 1961. the wealth-tax officer held that the prohibited investment in the shares of such concerns attracting section 13(3) did not, however, exceed five per cent, of the capital of such .....

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May 12 1992 (HC)

Pieco Electronics and Electricals Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : May-12-1992

Reported in : [1994]205ITR469(Cal)

..... any event whether the order passed by the income-tax officer allowing investment allowance under section 32a of the act on the plant and machinery used for the manufacture of electric bulbs and fittings can be rectified in a proceeding under section 154 of the income-tax act, 1961.6. it has been submitted on ..... shyamal kumar sen, j.1. pursuant to the direction of this court under section 256(2) of the income-tax act, 1961, the following questions were referred by the tribunal :'1. whether, on the facts and in the circumstances of the ..... behalf of the assessee that the decision of the tribunal is not sustainable in law. the submissions of the assessee are as follows :7. section 32a of the act allows investment allowance on the plant and ..... could not have been invoked for rectifying the assessment order on the point. both the parties, feeling aggrieved by the order of the commissioner of income-tax (appeals), came up in appeal before the tribunal.4. the tribunal, after considering the facts and circumstances of the case and after hearing the parties ..... vi) luminaire factory.3. against the said order of the inspecting assistant commissioner (assessment) under section 154, the assessee preferred an appeal before the commissioner of income-tax (appeals) who was of the view that the machinery used for manufacturing bulbs and electric fittings is not entitled to investment allowance. he, however, upheld the .....

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Mar 27 1992 (HC)

i.E.L. Ltd. (Successor-in-interest to Crescent Dyes Chemicals Ltd.) Vs ...

Court : Kolkata

Decided on : Mar-27-1992

Reported in : (1993)112CTR(Cal)144,[1993]204ITR386(Cal)

..... assessee for the assessment year 1982-83 for which the previous year ended on september 30, 1981. the income-tax officer, while computing the inadmissible expenditure under section 40a(5)/40(c) of the income-tax act, 1961, held that medical reimbursement and house rent allowance paid in cash would form part of salary under ..... section 17. accordingly, both these payments were considered for computation of disallowance under section 40a(5)/40(c).3. on appeal, the commissioner of income-tax (appeals) confirmed the order of the income-tax officer ..... ajit k. sengupta, j.1. in this reference under section 256(1) of the income-tax act, 1961, atthe instance of the assessee, the tribunal has sought for our opinion on the following question :'whether, on the ..... of medicines, tests, etc., actually incurred in india in a recognised public hospital will not be treated as a perquisite for the purposes of charging income-tax. thus, the board has never taken the view that reimbursement of medical expenses will not be treated as a perquisite but as a part of the ..... actually incurred in india by the employee on medical treatment in a recognised public hospital will not be treated as a perquisite for the purpose of charging income-tax. the board, in the said circular, extends the scope and ambit of 'recognised public hospital' to mean, hospitals which are recognised under the cghs .....

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Sep 17 1992 (HC)

Indian Tube Company Ltd. Vs. Commissioner of Income-tax and ors.

Court : Kolkata

Decided on : Sep-17-1992

Reported in : [1993]203ITR54(Cal)

..... question is 1973-74. the petitioner had paid advance tax. an order was passed under section 141a of the income-tax act, 1961 (referred to as 'the act'), by which an amount of rs. 23,20,294 was found to be refundable to the petitioner being the difference between the advance tax paid and the amount of tax to which the petitioner was assessed.2. on september ..... 4, 1975, the petitioner filed an application under section 154/155 of the act for modification ..... granted to the petitioner, the petitioner made an application under section 264 of the act before the commissioner of income-tax on october 26, 1979, claiming interest on the amount of tax refunded to the petitioner.7. the petitioner's application under section 264 was dismissed by the commissioner of income-tax by an order dated april 7, 1980. the petitioner has challenged this order by ..... the order dated january 31, 1977. the second application was for payment of interest under section 214 of the act. the first application was allowed, but no order was passed on the second application.4. in the meantime, the income-tax officer had preferred an appeal from the appellate assistant commissioner's order, dated january 31, 1977. the order of the appellate assistant .....

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Jun 17 1992 (HC)

Commissioner of Wealth-tax Vs. B.K. Chatterjee

Court : Kolkata

Decided on : Jun-17-1992

Reported in : [1993]202ITR785(Cal)

..... is not contested. the assessing officer, obviously, has read the provision of sub-clause (iii) of clause (m) as implyingthat any levy for tax, penalty or interest in pursuance of the wealth-tax act or the income-tax act or any other direct tax acts shall be excluded, if the liability therefor is neither contested in appeal nor paid for more than twelve months on the valuation date ..... the salaries payable to his employees and to pay to the central government the lax so deducted does not arise as a result of any order passed under the income-tax act, 1961. accordingly, section 2(m)(iii) has no application to such liabilites.8. it may be reasonably argued that the object of sub-clause (iii) of clause (m) of section ..... source from an employee under section 192 does not arise from any order passed under or in pursuance of any of the provisions of the income-tax act. the employer has an automatic statutory liability to deduct tax from the salary disbursed to an employee. it is not the case that the liability arises only upon an order being passed by any of the ..... of section 192. the tribunal held that liability to pay tax deducted at source under section 192 of the income-tax act, was not in consequence of anorder passed under or in pursuance of the income-tax act. it was a statutory provision holding the person responsible for payment of income chargeable under the head 'salaries' to deduct tax at source and make payment thereof to the central government .....

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Feb 21 1992 (HC)

Commissioner of Income-tax Vs. Black Diamond Beverages Ltd.

Court : Kolkata

Decided on : Feb-21-1992

Reported in : [1993]201ITR48(Cal)

..... no. 5 of the eleventh schedule, the assessee should not have been allowed any investment allowance at all.7. the eleventh schedule to the income-tax act, 1961, lists out the articles or things of which the manufacture or production is excluded from the scope of the investment allowance. thus, if ..... aggrieved by the order of the inspecting assistant commissioner of income-tax, the assessee filed an appeal before the commissioner of income-tax (appeals) who was of the view that, as per section 32a of the income-tax act, 1961, investment allowance was available to ..... ajit k. sengupta, j.1. in this reference under section 256(2) of the income-tax act, 1961, for the assessment year 1981-82, the following question of law has been referred to this court :' whether ..... assistant commissioner of income-tax disallowed the claim on the ground that the generator at best gave indirect assistance for the manufacturing process during the period of power failure. the assessee did not manufacture or produce any article or thing as envisaged in section 32a of the income-tax act, 1961.3. being ..... production. the investment allowance was, accordingly, allowable on the said generator.4. on appeal by the department, the tribunal maintained the finding of the commissioner of income-tax (appeals) by observing as under :' 8. after considering the arguments, the cases referred to by the departmental representative in : [1967]63itr232(sc) and : .....

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Jul 20 1992 (HC)

Commissioner of Income-tax Vs. Prafulla Box Mfg. Co. (P.) Ltd.

Court : Kolkata

Decided on : Jul-20-1992

Reported in : [1993]201ITR459(Cal)

..... whether, on the facts and in the circumstances of the case, the tribunal was correct in law in deleting the disallowance made under section 43b of the income-tax act, 1961, in respect of sales tax liability not paid within the relevant accounting period ?' 2. shortly stated, the facts leading to this reference are that the assessee is a private limited company. the ..... assessment year involved is 1986-87 for which the relevant previous year ended on december 31, 1985. the assessing officer disallowed the outstanding sales tax liability of rs. 33,754 under section 43b of the income-tax act, 1961, on the ground that it was not paid within the accounting year.3. being aggrieved by the aforesaid disallowance, the assessee filed an appeal ..... the circumstances of the case, and also on a proper interpretation of the provisions of section 43b of the income-tax act, 1961, the tribunal was correct in law in holding that the first proviso to section 43b of the income-tax act, 1961, introduced by the finance act, 1987, with effect from april 1, 1988, would be applicable to the assessment year 1986-87 ? (2) ..... amount was paid before the due date for payment under the relevant statutory provision, the provisions of section 43b of the income-tax act, 1961, would not be attracted in its case and hence no disallowance should be made. the commissioner of income-tax (appeals) held that the provisions of section 43b would be clearly applicable. however, he reduced the disallowance to rs. 7, .....

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Jan 20 1992 (HC)

Commissioner of Wealth-tax Vs. Bharat Charity Trust

Court : Kolkata

Decided on : Jan-20-1992

Reported in : (1993)111CTR(Cal)232,[1993]199ITR420(Cal)

..... of april, 1962, enures, directly or indirectly, for the benefit of any person referred to in sub-section (3) of section 13 of the income-tax act, wealth-tax shall be leviable upon and recoverable from the trustee or manager (by whatever name called) in the like manner and to the same extent as ..... in our view, the principles in birla charity trust : [1988]170itr150(cal) , will govern the case.9. if the shares are exempt under the income-tax act, the assessee will be entitled to exemption in respect of its net wealth in terms of section 5(1)(i).10. for the reasons aforesaid, we answer ..... for the benefit of any person referred to in sub-section (3) of section 13 of the income-tax act, in that event only, wealth-tax shall be leviable.7. this question came up for consideration under the income-tax act in the case of cit v. birla chanty trust : [1988]170itr150(cal) , where one of us was a party. ..... donors were interested and the provisions of sections 13(2)(a) and 13(2)(h) of the income-tax act, 1961, were not applicable and the assessee was entitled to exemption under section 11 of the income-tax act. the tribunal, in the said order for the assessment years 1972-73 and 1973-74, relied on ..... such property or from voluntary contributions referred to in sub-clause (iia) of clause (24) of section 2 of the income-tax act) is used or applied, or (ii) any part of the income of the trust (whether derived from such property or from voluntary contributions referred to in sub-clause (iia) of clause ( .....

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