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Judgment Search Results Home > Cases Phrase: income tax act Court: kolkata Year: 1999 Page 1 of about 103 results (0.034 seconds)

Sep 08 1999 (HC)

Hukumchand Jute and Industriesltd., Calcutta Vs. Commissioner of Incom ...

Court : Kolkata

Decided on : Sep-08-1999

Reported in : (2000)1CALLT82(HC),[2000]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 : [1997]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 : [1978]112itr276(cal) . the company was a sugar mill producing sugar and selling and exporting sugar. the assessee was under an obligation to pay additional .....

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Aug 06 1999 (HC)

Smt. Mandira Mukherjee Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Aug-06-1999

Reported in : [1999]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 .....

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Aug 17 1999 (HC)

Tirupati Trading Co. Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Aug-17-1999

Reported in : [2000]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 .....

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Dec 01 1999 (HC)

Gurudas Hazra Vs. P.K. Chowdhury and ors.

Court : Kolkata

Decided on : Dec-01-1999

Reported in : [2002]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) .....

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Aug 18 1999 (HC)

Bormah Jan Tea Co. (1936) Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Aug-18-1999

Reported in : [1999]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 .....

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Jul 28 1999 (HC)

Commissioner of Income-tax Vs. Bhoruka Public Welfare Trust

Court : Kolkata

Decided on : Jul-28-1999

Reported in : (1999)157CTR(Cal)40,[1999]240ITR513(Cal)

..... considered similar issue in the case of cwt v. bharat charity trust : [1993]199itr420(cal) . this court has considered the corresponding section 21a of the wealth-tax act to section 13(1)(d) of the income-tax act and the issue before the court was whether when the assessee received the shares by way of donation it would amount to investment of the assessee.11 ..... whether the tribunal is justified in holding that the depreciation claimed in the accounts by the assessee was an outgoing for the purpose of determination of income in terms of section 11(1) of the income-tax act, 1961 during the course of assessment, the assessee claimed depreciation worth rs. 21,779 which has been disallowed by the assessing officer. in appeal before the ..... , the tribunal is correct in law in holding that depreciation claimed in the accounts by the assessee was an outgoing for the purpose of determination of income in terms of section 11(1) of the income-tax act, 1961, and in that view deleted the addition so made in this regard ?'2. the assessee is a trust. the trust received donation to the extent ..... transport corporation of india limited within the meaning of section 13(2)(h) of the income-tax act. therefore, the income-tax officer invoked the provisions of section 13(4) and brought to tax the dividend income derived by the trust of rs. 1,68,000.3. in appeal, the commissioner of income-tax (appeals) found that the donation of shares does not amount to investment by the assessee .....

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Jul 28 1999 (HC)

Shaw Wallace and Co. Ltd. Vs. Income-tax Appellate Tribunal and ors.

Court : Kolkata

Decided on : Jul-28-1999

Reported in : [1999]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. : [1989]179itr435(cal) . he also said that .....

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Aug 09 1999 (HC)

Commissioner of Income-tax Vs. Unit Construction Co. Pvt. Ltd.

Court : Kolkata

Decided on : Aug-09-1999

Reported in : [1999]240ITR718(Cal)

..... is justified in law in holding the view that the assessee-company was entitled to investment allowance as it was an industrial company according to the income-tax act, 1961 ? (2) whether, on the facts and in the circumstances of the case, the tribunal is justified in law in upholding the order of the ..... 1. by this reference application under section 256(1) of the income-tax act, 1961, the tribunal has referred the following questions set out at page 2 of the statement of case for the opinion of this court :'( ..... commissioner of income-tax (appeals) who directed the assessing officer to allow the asses-see-company the benefit of investment allowance as claimed ?' 2. the assessment year involved is ..... tribunal also has confirmed the view taken by the commissioner of income-tax (appeals).3. heard learned counsel for the revenue. none appeared for the assessee.4. section 32a provides for investment allowance in respect of ship ..... investment allowance at rs. 90,048 on the assets worth rs. 3,60,192. the income-tax officer did not allow the investment allowance, as the assessee does not come in the category of 'industrial undertaking'. the commissioner of income-tax (appeals) holding that the assessee is an industrial company directed to allow investment allowance. the .....

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Aug 13 1999 (HC)

Anz Grindlays Bank Plc Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Aug-13-1999

Reported in : [2000]241ITR269(Cal)

..... may 31, 1986?5. whether, on the facts and in the circumstances of the case and on a correct interpretation of the relevant provisions of section 244(1a) of the income-tax act, 1961, the tribunal was justified in holding that interest paid to the assessee on the basis of the earlier orders of the tribunal can be withdrawn and/or recovered back ..... our opinion :'1. whether, on the facts and in the circumstances of the case, the tribunal was justified in holding that charging of interest under section 220(2) of the income-tax act, 1961, is not an appealable order ?2. whether, on the facts and in the circumstances of the case and on a correct interpretation of the relevant provisions of section 214 ..... finally, the tribunal has also dismissed the appeal of the assessee on the ground that against an order under section 220(2) of the income-tax act, no appeal lies as the order under section 220(2) of the act is not appealable.13. in reference before us, learned counsel for the assessee submits that the order giving effect to the order of the ..... refunded to the assessee ?3. whether, the tribunal is justified in upholding the charge of interest under section 220(2) of the income-tax act, 1961, amounting to rs. 42,97,063 and in upholding the order of the commissioner of income-tax (appeals) ?4. whether, on the facts and in the circumstances of the case and on a correct interpretation of the relevant provisions .....

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Sep 06 1999 (HC)

Commissioner of Income-tax Vs. Currency Investment Co. Ltd.

Court : Kolkata

Decided on : Sep-06-1999

Reported in : (2000)158CTR(Cal)361,[2000]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 ( .....

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