Court : Kolkata
Decided on : Feb-03-2000
Reported in : (2000)161CTR(Cal)293
..... who has entered into an agreement to sell the same which cannot be completed by reason of an order of purchase under section 269ud of the income tax act and at what rate, will have to be decided in the facts and circumstances of each case. all that can be observed by way of ..... has been given to vendor and vendoe and there are several discrepancies in the proceeding before acquisition of the property in terms of section 269ud(1) of the income tax act. learned single judge has specifically emphasized on the decision in the case of c.b. gautam v. union of india (1992) 108 ctr (sc) 304 ..... this appeal has been directed against the judgment and order of learned single judge, dated 24-12- 1997 (reported as vysya bank ltd. v. appropriate authority of income-tax & ors. (1999) 151 ctr (cal) 239). the appeal was listed several times. none appeared for the appropriate authority.2. heard learned counsel for the respondents ..... said transfers. the appropriate authority, however, passed orders of purchase under section 269ud of the act in both the cases. the order in respect of the first agreement was passed on 29-7-1994 and that in respect of second agreement on 28 ..... accommodation to its officers who came on transfer for serving at its branches at calcutta. as required by the provisions of chapter xx-c of the act, the bank and delite filed form no. 37-1 in respect of each of the two agreements for issue of 'no objection certificate' for the .....Tag this Judgment!
Court : Kolkata
Decided on : Aug-03-2000
Reported in : (2001)1CALLT34(HC)
..... ward-e, city circle, cuttack) at its page 618 to substantiate about the effective notice of demand, in case of similarly placed situation under income tax act.32. he also cited a judgment reported in (tarun bharat sangh, alwar v. union of india & ors.) in its page 4 (sic) ..... has got a legally vested right to telephone service in respect of that period for which rental has been paid in advance during the period for incoming calls and also for limited number of free outgoing calls. if there is a default payment of charges on one or more telephones, the authority ..... no. 474-9377 has beenwithdrawn since 15th september, 1998 and if payment particulars are notforwarded by 7th october, 1998 the authority concerned will constrain towithdraw the incoming facility and disconnect the other telephones workingin the premises of the petitioner at calcutta being no. 474-3934 and 475-2177 by 8th october, 1998.7. ..... above mentioned telephone number.however, if the payment particulars are not forwarded to us by 7.10.98, we shall be constrained to withdraw the incoming facility and disconnect the other telephones working in your name, 474-3934 and 475-2177 on 8.10.98. action taken in this regard will ..... by the parliamentary activities personally on the strength of two letters issued by the calcutta telephones on account of the mahanagar telephone nigams ltd., therefore, such act is not, on the part of the authority, available in law, notices if any, therefore, the notices if at all served under rule 442 of .....Tag this Judgment!
Court : Kolkata
Decided on : Mar-13-2000
Reported in : 244ITR244(Cal)
..... assessee. again, the cash book, ledger, gold jewellery register and also seized excise books were examined. the income-tax officer has also examined the regular books of account, showing the transaction in gold and jewellery and noticed the inspector's report on perusal of the book no. 1, book ..... seized material some additions were made in the hands of the assessee, for the assessment years 1974-75 and 1975-76 on an application under section 264, the commissioner of income-tax has directed the assessing officer to re-examine the seized material. the notice under section 143(2) was served on the assessee, nikunja behari das, the legal representative of the ..... by nikunja behari das belonged to his father, only on the ground that the licence was in the name of his father.5. for the purpose of income-tax, the income belonged to a person who earns it and not to the person in whose name the business is carried on. when there is a finding that during the relevant period ..... . accordingly, we answer both the questions in the affirmative, i.e., infavour of the assessee and against the revenue. the application is accordingly disposed of. 10. all parties are to act on the operative portion of this judgment on theusual undertaking. .....Tag this Judgment!
Court : Kolkata
Decided on : Nov-07-2000
Reported in : 247ITR495(Cal)
..... exceed the written down value, so much of the excess as does not exceed the difference between the actual cost and the written down value shall be chargeable to income-tax as income of the business or profession of the previous year in which the moneys payable for the building, machinery, plant or furniture became due.'9. on almost exactly similar ..... but even after such expenditure it had the balance of the sum of rs. 16,63,000 and odd in its hands. the point was whether it could be taxed as a revenue receipt under section 41(2), as it stood at the material time.8. the said sub-section without the provisos is quoted below :'(2) where ..... authority of mania silk mills p. ltd. v. cit : 191itr647(sc) , it is a settled position that this amount cannot be treated as a capital receipt in the hands of the assessee as there was no ..... by the assessee (the aggregate received being rs. 74,28,849) which was in excess of the cost of fully damaged machinery.4. this sum was offered to tax under section 45 by the assessee but the assessee retracted its offer before the tribunal.5. the tribunal accepted the assessee's contention in that regard.6. on the ..... .13. the further questions framed on behalf of the department be kept on record countersigned by the court officer.14. all parties and all others concerned to act on a signed xerox copy of this order on the usual undertakings. .....Tag this Judgment!
Court : Kolkata
Decided on : Nov-13-2000
Reported in : (2001)166CTR(Cal)485,248ITR14(Cal)
1. this is an application for confirmation of rule. the income-tax appellate tribunal allowed in this case a deduction of rs. 65,653, which was interest payable by the assessce in respect of unpaid municipal rates due to the calcutta municipal corporation.2. the income-tax appellate tribunal reversed the decision of the assessing officer and the commissioner of income-tax (appeals).3. it is settled beyond dispute that interest on late payment of municipal rates is not in the nature of a payment of penalty, and is thus clearly deductible as general business expenses under seclion 37.4. the requirement of section 43b that even for assessees following the mercantile system, payments by way of tax, duty, cess, etc., cannot be claimed as deductions unless actual payment has been made in the previous year, is also not applicable in this case, because the words of the section encompass the municipal rates, but not interest thereon.5. there are binding authorities for this proposition, so far as we are concerned (see cit v. pudmavati raje cotton mills ltd. : 239itr355(cal) and hindustan motors ltd. v. cit : 218itr450(cal) ).6. confirmation of rule would thus be an empty exercise. rule is thus discharged.7. parties and all others concerned to act on a signed copy of this order on the usual undertakings.Tag this Judgment!
Court : Kolkata
Decided on : Aug-21-2000
Reported in : 246ITR745(Cal)
..... moment the findings of the learned tribunal have reached finality. in my view, the venture which has been undertaken by the income-tax officer for making an assessment is absolutely an act of hierarchial indiscipline. this exercise is nothing short of setting the tribunal's judgment at naught. it is a well-settled ..... order which was passed in the aforesaid impugned proceedings that it has been held amongst others that the writ petitioner is obliged to pay income-tax on the income which fetched from consultancy services rendered to larsen and toubro. this case has a slightly long history. 3. the writ petitioner-company upon ..... the point raised as to alternative remedy needs foremost attention of this court. in this case, one of the grounds is the jurisdiction of the income-tax officer concerned. so, this court is bound to examine this point. moreover, when the allegation of defiance of the order and a decision of ..... court dismissing the reference of the department. so, the findings of the tribunal have reached finality. it was, he contends, the duty of the income-tax officer concerned to accept and implement the decision of the tribunal which is superior in hierarchy. 7. in the teeth of the aforesaid facts and ..... india to austria. immediately thereafter the petitioner made an application in form no. 30 under section 237 of the said act and rule 41(2) of the income-tax rules, 1962, accompanied by a return claiming refund of the aforesaid as fees earned by the petitioner are not taxable .....Tag this Judgment!
Court : Kolkata
Decided on : Jul-12-2000
Reported in : 246ITR11(Cal)
..... calculation of utilised far. however, by the process of correspondence more time has elapsed within the prescribed three months period. in fact, the superintending engineer of the office of the income-tax authority hastaken initiative as per the annexure from january 18, 2000, and even thereafter certain clarifications were sought for on february 8/11, 2000. but even after several correspondence nothing ..... in view of the applicability of the deeming provision after the expiry of 90 days from the date of submission of the form being form no. 37-i under the income-tax rules, 1962. in this context, mr. singhvi, learned counsel appearing for the petitioners, cited a judgment reported in dlf universal ltd, v. appropriate authority : 243itr730(sc) , whereof it is ..... amitava lala, j.1. in this writ petition, the petitioners have challenged the order of rejection in respect of issuance of 'no objection certificate' passed by the assistant commissioner of income-tax (osg) being the appropriate authority under letter no. aa/cal/1930/jan. 2000/184-185 2000/184-185 dated may 19, 2000. according to the petitioners, the rejection cannot be ..... department within seven days from the date ofputting in requisition for drawing up and completion of the order as well as the certified copy thereof.10. all parties are to act on a signed copy minutes of the operative portion of this judgment and the order upon usual undertaking and as per the satisfaction of the officer of this court as .....Tag this Judgment!
Court : Kolkata
Decided on : Mar-27-2000
Reported in : (2001)165CTR(Cal)451,245ITR724(Cal)
..... the tribunal.4. coming to questions nos. 5 and 6, with regard to the disallowance of rs. 15,40,264, the assessing officer and the commissioner of income-tax (appeals) have disallowed this deduction on the ground that no material was placed before them by the assessee to establish that the amounts were irrecoverable. the tribunal, ..... and 2 are concerned, after hearing the detailed arguments of the learned advocates for the parties we find that the findings of the assessing officer, the commissioner of income-tax (appeals) and the tribunal that the fixation of notional value of re. 1 on the property in question subsequent to the passing of the decree by the ..... section (2) of section 36 of the act clearly suggests that deduction as a bad debt being allowable only to a money-lender in the ordinary course of the business of banking or money-lending is not ..... accounts were finalised and such determination or approval must be treated as being effective from that date.'6. even a plain reading of section 36(1)(vii) of the act, read with sub-section (2)(i) thereof, clearly suggests that the aforesaid view taken by the tribunal was incorrect. further reading of clause (i) of sub- ..... allowable. question no. 6 is answered in the affirmative.8. there will be no order as to costs.9. all parties concerned are to act on a xeroxed signed copy of this dictated order on the usual undertakings. .....Tag this Judgment!
Court : Kolkata
Decided on : Jul-24-2000
Reported in : (2000)163CTR(Cal)382
..... is to consider an application for stay of all further penalty proceedings initiated pursuant to a notice dated 20-3-2000, under section 271(1)(c) of the income tax act (hereinafter referred to as 'the act') in respect of the assessment year 1995-96 till the disposal of the instant appeal. the appellant-assessee carries on inter alia, business of housing finance leasing ..... facts stated .herein earlier it is clear that the penalty proceeding in fact, has been initiated against the assessee from the assessment order itself. the assessing officer, while assessing the income-tax dues of the assessee, had passed direction for initiating a penalty proceeding against the assessee. therefore, it can be easily said that the penalty proceeding has been initiated pursuant to ..... the plant was assessed in the hands of the appellant, the claim for depreciation was, however, disallowed by the assessing officer. the appellant filed an appeal and ultimately the income tax appellate tribunal (hereinfter referred to as 'tribunal') dismissed the appeal of the appellant. feeling aggrieved by the order of the tribunal the instant second appeal has been filed by ..... revenue. however, mr. mullick sought to argue that since a penalty proceeding was a distinct and separate proceeding and as in the appeal filed under section 260a of the act, questions relating to the assessment order can only be decided by this court and furthermore the appeal shall be decided only on the questions formulated by it, there was no .....Tag this Judgment!
Court : Kolkata
Decided on : Aug-09-2000
Reported in : 75ITD87(Cal)
..... also be mentioned that the letter dated 17-8-1984 and the affidavit which was filed in the proceedings under section 132(5) of the income tax act by miss amrita ghosh also does not help the assessee. there is nothing to show in those letter and affidavit that those were gifted by the ..... the assessing officer had summoned miss amrita ghosh on 2-8-1974 under section 131 in the course of proceedings under section 132(5) of the income tax act. she filed written reply dated 17-8-1994 supported by an affidavit. in the said written reply with reference to ornaments and jewellery found in ..... to show that the assessee's claim was wrong. on the facts of the case we are inclined to hold that for the purposes of wealth tax act the assessee's daughter held the jewellery on the date of the search. in these circumstances and without material to the contrary, she can be ..... july, 1974. the assessee in order to cover jewellery's acquisition, made a disclosure under the voluntary disclosure of income and wealth ordinance, 1975. taking note of above disclosure, the wealth tax officer added value of the jewellery in the wealth of the assessee.3. the assessee challenged the above additions in ..... from 1958 to 1972 and given to the daughter. gifts of jewellery made in different years were below the taxable limits and, therefore, no gift-tax was paid. but statement of assessee's daughter, disclosure petition and other circumstances clearly established that miss ghosh was the owner of jewellery on the valuation .....Tag this Judgment!