Court : Kolkata
Decided on : Aug-06-1999
Reported in : 239ITR838(Cal)
..... the following question under section 256(1) of the income-tax act, 1961, set out at page 7 of the statement of case for our opinion :'whether, on the facts and in the circumstances of the case, the rent received by the assessee from the house property is assessable as income from other sources or income from house property ?'2. the assessee, smt. mandira ..... of the tribunal's order where the finding has been given reads as under :'the income-tax officer assessed this income of rs. 21,600 as income from other sources whereas the commissioner of income-tax (appeals) had directed to assess the same as rental income from house property. the income-tax officer has not brought anything material on record. he has mentioned in the assessment order ..... with the order of the tribunal. the tribunal has rightly restored the viewtaken by the income-tax officer that the rental income shown by the asses-see cannot be treated as income of the assessee from the house property. if she has shown income, that can be taxed as 'income from other sources'.11. in the result, we answer the question in the affirmative that ..... her tenant. according to the departmental representative she is not the owner of the property and, hence, the rental income cannot be assessed as income from house property in her hands. the view taken by the income-tax officer to assess the same as income from other sources is correct. there is a considerable substance in the arguments of the learned departmental representative. therefore .....Tag this Judgment!
Court : Kolkata
Decided on : Sep-08-1999
Reported in : (2000)1CALLT82(HC),241ITR517(Cal)
..... of additional fuel surcharge to power consumption in the assessment year 1981-82. but he claimed before the inspecting assistant commissioner in a proceeding under section 144-b of the income-tax act, 1961. the iac has noticed that the assessee has made an ad-hoc provision of rs. 3,71,980/-that was disallowed by the ito in the draft assessment on ..... . in view of this fact, this court held that the liability should be allowed when it is determined by the court finally.17. in standard tea exporters v. commissioner of income tax 198 itr 573, the decision relied upon by the learned counsel for the revenue mr. r.c. prasad that when the liability is contingent it should not be allowed in ..... contingent in the accounting year. therefore, the liability should be allowed in the assessment year 1961-62.15. in the case of madras industrial investment corporation limited v. commissioner of income-tax reported in : 225itr802(sc) , their lordships held that the appellant-company had, in its turn, correctly claimed a deduction only in respect of the proportionate part of the discount ..... 1973-74,the andhra pradesh high court has taken the view that mere postponement of the quantification did not postpone accrual of liability. 13. in the case of commissioner of income-tax v. swadeshi mining & . reported in : 112itr276(cal) . the company was a sugar mill producing sugar and selling and exporting sugar. the assessee was under an obligation to pay additional .....Tag this Judgment!
Court : Kolkata
Decided on : Aug-17-1999
Reported in : 242ITR13(Cal)
..... tour was for the purpose of the business. finally, it confirmed the view taken by the income-tax officer that the income-tax officer has rightly disallowed the travelling expenses under sections 37 and 35b of the income-tax act. 20. learned counsel for the assessee submits that if sufficient material is not there before the ..... cash which is hit by the provisions of section 40a(3) of the act read with rule 6dd. 3. in appeal before the commissioner of income-tax (appeals), the commissioner of income-tax (appeals) has admitted the additional evidence in the form of affidavit of prakash singh, and bedi singh ..... in the absence of any supporting evidence that the flat was booked for the purpose of the office and considering the finding of the income-tax officer, commissioner of income-tax (appeals) as well as the tribunal, we find no justification to interfere with the view taken by the tribunal that the advance ..... attracting the provisions of section 40a(3) of the act. 11. the next issue raised in these questions for our consideration is whether the tribunal was justified in disallowing the interest of rs. 1,01,250. during the scrutiny, the income-tax officer found that the assessee has claimed interest on a ..... by the provisions of section 40a(3) of the act. the case of the assessee was that this cash has been collected by shri p. k. sureka from the assessee in calcutta and it was for the payment to drivers. the income-tax officer disallowed the claim as the payment was in .....Tag this Judgment!
Court : Kolkata
Decided on : Aug-18-1999
Reported in : 240ITR477(Cal)
..... an earlier year, he can give an application to the commissioner for the reduction or waiver of penalty and interest under section 273a of the income-tax act.12. the doubts arising out of those circulars are clarified by issue of further circulars in the form of questions and answers. one of the numbers is circular no. 451 ( ..... -company was not entitled to immunity from the levy of interest under sections 139(8) and 215 and from the levy of penalty, under section 275(1)(a) and the income-tax act, 1961, as envisaged under the amnesty scheme ?'2. the assessee is a limited company. it filed its return on november 29, 1985, declaring a total ..... the filing of the returns will be regularised by issue of formal notice under section 148 of the income-tax act. that means the provisions of section 147 are attracted for revised return and the definition of 'escaped income' should be considered for the purpose of assessing income of the assessee under the amnesty scheme.18. learned counsel for the assessee drew our attention to ..... y.r. meena, j.1. by this reference application under section 256(1) of the income-tax act, 1961, the tribunal has referred the following questions for the opinion of this court :'1. whether, on the facts and in the circumstances of the case, the tribunal was justified .....Tag this Judgment!
Court : Kolkata
Decided on : Jul-28-1999
Reported in : 240ITR579(Cal)
..... are grasped, is really very short, usual and simple.3. after the tribunal passed its order in april, 1998, an explanation was added to the income-tax act in chapter xivb to section 158ba and under that explanation regular assessments for all years in the block period are also required to be made.4. in ..... of the earlier order is april 22, 1998.2. by that earlier order, the tribunal had set aside a block assessment made under chapter xivb of the income-tax act, 1961. by reason of the order of recall, the set aside block assessment revives. if instead of hearing the writ, a stay is granted, it ..... there the tribunal had disposed of a particular ground no. 5 in the memorandum stating that relief in that regard had already been given by the income-tax officer acting under section 154. this appeared later to be erroneous because the section 154 application has been rejected. in these facts, the tribunal set aside ..... 254(2) do not envisage a total recall of the order and obliteration to it. it would not be within the jurisdiction of the tribunal acting under this sub-section to recall its earlier order totally and then and thereafter again enter into long drawn arguments for the purpose of rewriting its ..... that under section 254(2), the tribunal can make amendments or rectifications which are obvious and which do not involve debate or dispute. he referred to the case of cit v. swadeshi commercial co. ltd. also the case of citv. e. sefton and co. (p.) ltd. : 179itr435(cal) . he also said that .....Tag this Judgment!
Court : Kolkata
Decided on : Sep-06-1999
Reported in : (2000)158CTR(Cal)361,241ITR494(Cal)
..... those persons, that alone does not affect the genuineness of transactions.8. summons can be issued under section 131 of the act to compel them to appear before the income-tax officer or the assessing officer. but that has not been done. one more factor has been highlighted by the assessing ..... heard learned counsel for the revenue.6. learned counsel for the assessee reiterated the argument before the tribunal which was advanced before the income-tax officer and the commissioner of income-tax (appeals). the tribunal has considered the argument of the assessee in paragraph 6 of its order which reads as under :'the ..... proper to sell the shares without taking delivery. there is nothing wrong in this line of action. therefore, the burden is on the income-tax officer to call upon the purchase broker to find out the genuineness of the transaction and even otherwise it cannot be said that the sale ..... so, he disallowed the loss claimed by the assessee on account of dealing in shares.3. in appeal, the commissioner of income-tax (appeals) confirmed the view taken by the income-tax officer.4. in appeal before the tribunal, the tribunal found that the loss on account of share transaction as genuine.5. ..... the income-tax act, 1961, the tribunal has referred the following question set out at page 2 of the statement of case for our opinion :'whether, on the facts and in the circumstances of the case, the tri-bunalwas justified in law in not confirming the finding of the commis-sioner of income-tax ( .....Tag this Judgment!
Court : Kolkata
Decided on : Apr-29-1999
Reported in : (2000)162CTR(Cal)448,239ITR77(Cal)
..... of the assessee that the hundi loans are not genuine. on the basis, the assessment was reopened under section 147(a) of the income-tax act, 1961 (hereinafter referred to as 'the act'). after reopening of the assessment, the income-tax officer issued notices to the creditors at their addresses given by the assessee, but the notices came back unserved with the remarks 'not known ..... is based are perverse and/or unsupported by any evidence ?' 2. the assessee is a private limited company which used to be regularly assessed under the provisions of the indian income-tax act, 1922. the year under consideration is the assessment year 1960-61. in the year under consideration, the assessee had shown certain credits on account of hundi loans. the assessment ..... read as under :'it was further submitted that the statements of the loan creditors were merely 'information' meant for enabling the learned income-tax officer to make up his mind for initiating reopening proceeding under section 147 of the act and that thereafter it was open to the assessee to prove that the allegations were unfounded. shri s. bagchi, the learned ..... submissions found that the reopening under section 147(a) of the new act, 1961 was in accordance with law and restored the matter to the appellate assistant commissioner for fresh disposal on the merits. then the appeal was transferred to the commissioner of income-tax (appeals).4. the commissioner of income-tax (appeals) called upon the assessee to produce the persons who have .....Tag this Judgment!
Court : Kolkata
Decided on : Jun-15-1999
Reported in : 239ITR484(Cal)
..... and in the circumstances of the case, the tribunal was correct in law in holding that the provisions of section 263 of the income-tax act, 1961, as amended by the finance act, 1988, would not be available to the commissioner of income-tax in this case 2. whether, on the facts and in the circumstances of the case, the tribunal was correct in law in ..... total income for the year rs. 2,89,275 and also claim for deduction under sections 80m and 80w. after ..... cancelling the order of the commissioner of income-tax under section 263 of the income-tax act, 1961 ?' 2. the assessee is a limited company. it has filed a return on december 31, 1983, showing ..... whether service charges and vehicle hire charges amounting to rs. 6,65,162 and rs. 18,900 can be allowed. the order of the commissioner of income-tax under section 263 of the act has been challenged by the assessee before the income-tax appellate tribunal. the income-tax appellate tribunal following the decision of this court in the case of general beopar co. (pvt.) ltd. v .....Tag this Judgment!
Court : Kolkata
Decided on : Feb-23-1999
Reported in : (1999)154CTR(Cal)105,238ITR13(Cal)
..... one assessment year, viz., 1995-96.8. while the order for block assessment was subsisting, two notices were issued respectively under section 143(2) and section 142(1) of the income-tax act, respectively, dated december 19, 1997 and february 2, 1998. pursuant to these notices, the assessing officer purported to proceed to make the regular assessment under the regular procedure.9. this ..... nath ray, j.1. the writ application in the instant case raises interesting points about the interaction between the special procedure for block assessment introduced by chapter xivb of the income-tax act, 1961, and the regular procedure for assessment.2. the new chapter deals with cases where there has been a search or seizure (as here) or a requisition under section 132a ..... that the assessee is relieved from the obligations attendant upon the filing of that return which are preserved as such in other parts of the income-tax act than chapter x1vb. all that happens is that the disclosed income becomes entrenched after the block assessment and has to form practically the sole basis for regular assessment thereafter.68. but section 271 penalties are practically ..... as nil i do not advisedly answer these questions as, in my opinion, mr. mullick rightly pointed out that i am not to answer general points arising out of the income-tax act but only answer specific issues, which arise in this case.71. in the result, it appears to me that both the notices issued by the .....Tag this Judgment!
Court : Kolkata
Decided on : Dec-01-1999
Reported in : 109CompCas530(Cal)
..... 5. on behalf of the revenue, affidavits are prayed for, interim order is opposed and reliance is placed on section 179 of the income-tax act. that section is as follows : '179. liability of directors of private company in liquidation.--(1) notwithstanding anything contained in the companies ..... director at the material time. 3. mr. mitter submits for the writ petitioner that even if there are dues of or in regard to income-tax of the company, the stoppage of the bank account of the writ petitioner himself is illegal. 4. according to him, for unpaid ..... apply to any person who was a director of such private company in relation to any tax due in respect of any income of such private company assessable for any assessment year commencing before the first day of april, 1962.' 6. the marginal note or heading of ..... on his part in relation to the affairs of the company. (2) where a private company is converted into a public company and the tax assessed in respect of any income of any previous year during which such company was a private company cannot be recovered, then, nothing contained in sub-section (1) shall ..... act, 1956 (1 of 1956), (where any tax due from a private company in respect of any income of any previous year or from any other company in respect of any income of any previous year during which such other company was a private company) .....Tag this Judgment!