Court : Kolkata
Decided on : Apr-28-1995
Reported in : 221ITR810(Cal)
..... with regard to the tenancy of the respondent. if one is allowed to draw any parallel, reference may be made to section 43a of the income-tax act, wherein a special provision had been introduced to redetermine the cost of acquisition of an asset acquired out of moneys borrowed from any person in ..... in excess of maximum calculated under the provision of section 36(1)(ii) of the income-tax act, 1961, on the ground that the amount would be treated as customary bonus and deductible under section 37(1) of the income-tax act, 1961 2. whether, on the facts and in the circumstances of the case, the ..... of the tenancy/leasehold rights to the syndicate bank. on a further appeal by the income-tax department, the income-tax appellate tribunal also came to the same view and dismissed the departmental appeal. the tribunal, in coming to the above decision, relied on ..... ,323 as capital gains in the hands of the respondent.6. the respondent challenged the above decision of the assessing officer before the commissioner of income-tax (appeals) who agreed with its contention and held that no capital gains were chargeable in the hands of the respondent as arising from the transfer ..... assigned to the bank for a consideration of rs. 40 lakhs as per a deed of assignment dated july 11, 1983.4. in the income-tax assessment for the assessment year 1984-85, it was the respondent's case before the assessing officer that as the acquisition of the tenancy/leasehold .....Tag this Judgment!
Court : Kolkata
Decided on : Apr-21-1995
Reported in : 221ITR778(Cal)
..... schedule. according to him, the provisions relied upon by the department did not apply in the present case. he submitted that section 44 expressly makes the first schedule to the income-tax act applicable to the case of an insurance company. rule 5 of the said schedule is the particular rule which is applicable in the present case. it states clearly that 'the ..... ]51itr773(sc) that the assessment of the profits of an insurance business is completely governed by the rules in the schedule to the income-tax act and the income-tax officer had no power to do anything not contained in the rules to be found in the schedule. it was held that there is no general right to correct the ..... to above had supported his submission. in the majority decision of the supreme court law laid down was (headnote) :' (i) for the content of taxable income, one has to refer to the substantive provisions of the income-tax act, 1961, mainly section 5 read with the other relevant sections. (ii) in some limited fields where something which is the reality of the situation prevents ..... ]158itr102(sc) is not applicable.6. now, the question that was raised was about the applicability of section 44 of the income-tax act, 1961, read with the provisions of the first schedule along with the charging section 5 of the income-tax act. reliance was placed by learned counsel for the department that having regard to the charging section 5 the mortgage loans and sticky .....Tag this Judgment!
Court : Kolkata
Decided on : Sep-03-1995
Reported in : (1995)2CALLT467(HC),89CompCas415(Cal),225ITR858(Cal)
..... , it cannot be said at this stage that the company did not commit the alleged offence by contravening the provisions of section 276b of the income-tax act, the language of which does not involve any mens rea as far as the company is concerned. we have, however, pointed out in the ..... i have considered the submissions of learned counsel for both the sides and also the rulings referred to as well as the relevant provisions of the income-tax act. the alleged offence is punishable with compulsory imprisonment and fine. in this case, the assessee-company (accused no. 1) cannot be sent to ..... accused no. 2, the learned magistrate seeing that the accused was treated as 'principal officer', and proper notice under section 2(35)(b) of the income-tax act being served upon him, held that the proceeding was maintainable against accused no. 2.4. learned counsel for the petitioner relying upon a single bench ..... the conduct of the business of the company during the material time had committed an offence punishable under section 276b read with section 278b of the income-tax act, 1961, and he has also been treated as principal officer of the company by issuing notice on him. before the lower court, the ..... march 21, 1994, passed by a metropolitan magistrate in case no. c/992/30 under section 276b, and 276b read with section 278b on the income-tax act, 1961, whereby the learned magistrate directed that the case be proceeded against the secretary-accused, petitioner no. 2 only, as the case did not lie .....Tag this Judgment!
Court : Kolkata
Decided on : Aug-30-1995
Reported in : (1996)2CALLT141(HC),238ITR257(Cal)
..... of the proof is reached as and when the proof is demanded by the assessing officer at a notice under section 143(2) of the income-tax act. if no proof in support of the claim is available, the assessing officer on the return filed by the assessee can issue a notice ..... -sional order passed by the commissioner of income-tax (ix), west bengal under section 264 of the income-tax act, 1961 (for short 'the act'), affirming the order passed by the income-tax officer refusing to cancel the disallowance made in the intimation under section 143(1)(a) of the act. 2. the facts leading to moving ..... section 139(5) and (9) of the act. therefore, i am of the view that the authorities below have acted illegally and with material irregularity in the exercise of their jurisdiction in not allowing the application filed under section 154 of the income-tax act for rectification of the mistakes which had cropped ..... up for not filing the special audit certificate as required under section 80hhc of the act. the assessing officer retains his power under section 139(9) of the act to rectify the defects as mentioned ..... any, claimed to have been paid, (ii) the amount of compulsory deposit, if any, claimed to have been made under the compulsory deposit scheme (income-tax payers) act, 1974 (38 of 1974) ; (d) where regular books of account are maintained by the assessee, the return is accompanied by copies of- (i .....Tag this Judgment!
Court : Kolkata
Decided on : Jan-12-1995
Reported in : 222ITR574(Cal)
..... the building aforesaid it was not entitled to depreciation under section 32 of the income-tax act. the relevant portion of section 32 of the act which comes for interpretation before us is being quoted below : '32. (1) in respect of depreciation of buildings, machinery, plant or furniture owned by the assessee ..... , considered that the order passed by the assessing officer was to the prejudice of the revenue and, therefore, made an order under section 263 of the income-tax act revoking the same by taking the view that the depreciation allowed was not permissible in law to the assessee. according to him, since the assessee was not the owner of ..... is saved by section 53a of the transfer of property act was entitled to get the benefit of section 32 of the income-tax act. this decision took into consideration, section 9 of the old income-tax act (which is equivalent to section 22 of the new act). reliance was also placed to another decision of the case of cit v. sahney steel and press works (p.) ltd. : [1987 ..... from the principles laid down by the supreme court in r.b. jodha mal kuthiala v. cit : 82itr570(sc) , while interpreting the meaning of the expression 'owner' occurring in section 22 of the act which is in pari materia with section 9 of the indian income-tax act, 1922, for the purpose of determining the question whether the assessee is entitled to claim depreciation .....Tag this Judgment!
Court : Kolkata
Decided on : Sep-01-1995
Reported in : (1996)2CALLT115(HC),221ITR720(Cal)
..... of attachment against the shares owned by the petitioner-trust issued by the tax recovery officer-ii (income-tax), jaipur (in short, 'the tro'), under rule 26(1)(ii) of the second schedule to the income-tax act; 1961 (in short, 'the act'), for an alleged demand against a private trust known as raja baldeodas ..... resides within the jurisdiction of the executing court.34. in the case of cit v. oriental rubber works : 145itr477(sc) , the supreme court held that the books of account seized under the provisions of the income-tax act, 1961, could not be retained for the period extended by the commissioner unless ..... before the rajasthan high court. such demand for the year 1970-71 as would appear from the certificate issued by the deputy commissioner of income-tax, special range-22, calcutta, who is having jurisdiction over the private trust after transfer of the cases in 1978 is to the tune ..... in the case of ajanta industries v. cbdt : 102itr281(sc) , the supreme court while considering the case of transfer of the income-tax file from one officer to another held that non-communication of the order to the assessee whose file is transferred would be a serious infirmity in ..... civil procedure code should be followed and applied. the respondents have not disputed, as they cannot, that the relevant provisions in schedule ii to the act are analogous and similar to those in the civil procedure code. they have not pointed out any dissimilarity in the provisions of schedule ii and those .....Tag this Judgment!
Court : Kolkata
Decided on : Nov-24-1995
Reported in : (1996)1CALLT97(HC),1996(1)CHN9,217ITR871(Cal)
..... . when the prejudice resulting therefrom is attributable to the tribunal's mistake, error or omission, it is its bounden duty to set it right. application :also to current assessment years. income tax act 1961 s.255constitution of india art 227writ--jurisdiction of high court--serious miscarriage of justice.ratio & held :for prevailing grave and serious miscarriage of justice including one resulting from following ..... bench-xiii. in the impugned order, the tribunal, while rejecting the miscellaneous applications made by the assessee/petitioner under section 254(2) of the income-tax act, 1961, inter alia, held that no mistake had crept in its order dated january 30, 1992. in arriving at the said conclusion, the tribunal was called upon to deal with ..... and state of maharashtra v. ramdas shrinivas nayak, : 1982crilj1581 ), it has nowhere been laid down, however, that in affirming the fact of making of a concession the court need not act with care and caution and need not follow a procedure which can be said to be foolproof in the context of a particular situation as that would be inconsistent with .....Tag this Judgment!
Court : Kolkata
Decided on : May-05-1995
Reported in : (1995)129CTR(Cal)64,250ITR354(Cal)
..... him from allowing a survey to be made.3. the officers conducted a survey. clothed with the large powers given to them by the income-tax act as amended up to date, they started acting in a manner people do in autocratic countries where there is no check on petty government officials.4. apparently, they immediately served on april ..... visited the chamber of dr. vijay pahwa, an eye surgeon being the writ petitioner, purporting to conduct a survey under section 133a of the income-tax act, 1961.2. a document has been produced in court, which has been kept countersigned by my officer, which shows that there was no obstruction put ..... were not utilised. under the garb of conducting a simple survey under section 133a, the books of dr. pahwa were seized, without any apparent authority. the income-tax officers and authorities do not have any power to interrupt the ordinary peaceful citizens of the country in any manner they like by utilising the large powers given ..... the summons was immediately executed on the same day within 30 minutes or so. all the books of dr. pahwa reached the income-tax office. immediately thereafter those books were impounded at the office of the income-tax authorities. all this happened on april 17, 1995.5. dr. pahwa's assessments are complete and up to date. there ..... , at the choice of the writ petitioner by instituting a contempt proceeding in this court before me.8. all parties and others concerned to act on a signed xerox copy of this dictated order on usual undertakings. .....Tag this Judgment!
Court : Kolkata
Decided on : Nov-03-1995
Reported in : AIR1996Cal271
..... december, 1995, with effect from 14-1-1994. in the instant case, admittedly because of issue of an order by the income-tax authorities under s. 269ud(1) of the income-tax act, 1961, which was served in january 1987, and thereafter because of an interim order of injunction passed by this court on ..... within the validity period of the said sanction.8. the said writ application, challenging the validity of the notice under section 269ud(1) of the income-tax act, 1961, was finally disposed of by an order dated 14 january, 1993, passed by the hon'ble justice suhash chandra sen (as his lordship ..... extent that the transferor was restrained from making any construction or taking any action as per sanctioned plan in view of the provisions under the income-tax act. the transferor was also restrained from making any addition or alteration to the nature and character of the property.7. as a result of ..... the further progress of the work was disrupted as a notice dated ..... under section 269-ud(1)of the income-tax act, 1961, was served in january 1987. by the said notice, the income-tax authority intended to pre-emptivepurchase of the said premises by the central government. in other words, by exercise of ..... , for taking over the property, they should issue a 'no objection certificate' in favour of the owner, appellant williamson & magor co. ltd. the income-tax authorities did not issue any fresh order and on the contrary issued the 'no objection certificate' on 12 march, 1993.9. after the 'no objection .....Tag this Judgment!
Court : Kolkata
Decided on : Feb-20-1995
Reported in : (1996)132CTR(Cal)472,218ITR450(Cal)
..... 31, 1985. the assessee follows the mercantile system of accounting.64. on an application of the assessee, three questions have been referred for determination under section 25g(2) of the income-tax act, 1961 (hereinafter referred to as 'the said act'). the questions are as follows :'1. whether, on the facts and in the circumstances of the case, and proper interpretation of law, the ..... , c.j.61. in view of the difference of opinion between me and justice ruma pal, the questions referred by the income-tax appellate tribunal are referred to justice prabir kumar majumdar for his opinion under section 259 of the income-tax act.prabir kumar majumdar, j.62. this reference has been assigned to me by an order of the hon'ble chief justice on ..... the customs duty is part and parcel of the duty.70. in this reference, i am concerned with section 43b of the income-tax act, as it stood during the relevant assessment year being 1985-86. section 43b of the said act, as relevant for this reference, is as follows :'43b. certain deductions to be only on actual payment. -- not-withstanding anything contained in ..... provision without there being an ascertained liability.68. on an appeal taken by the assessee, the commissioner of income-tax (appeals) took a view that interest under the customs act should be considered to be falling under section 43b of the said act. the commissioner of income-tax (appeals) upheld the order of the assessing officer.69. on further appeal to the tribunal, the tribunal also .....Tag this Judgment!