Court : Kolkata
Decided on : Jul-07-2000
Reported in : 245ITR810(Cal)
..... which was lying with respondent no. 1, the commissioner of customs.14. the admitted facts are that the warrant of authorisation under sub-section (1) of section 132a of the income-tax act, 1961, was issued in april, 1997, in respect of the assets taken into custody by the commissioner of customs, calcutta. the amount was deposited by shambhu pandey, an ..... . the provisions of sections 62 to 78 of the finance act, 1997, deal with the voluntary disclosure of income scheme, 1997. under the disclosure scheme, 1997, any person can declare his any income which was never subjected to tax under the indian income-tax act, 1922, or the income-tax act, 1961, or declared as wealth under the wealth-tax act, 1957. that declaration can be made under sub-section ..... ) of sub-section (2) of section 64 of the finance act, 1997, further provides that income in respect of the previous year in which a search under section 132 of the income-tax act was initiated or requisition under section 132a of the income-tax act was made, or survey under section 133a of the income-tax act was carried out or in respect of any earlier previous year, ..... contained in sub-section (1) shall apply in relation to-- ...(ii) the income in respect of the previous year in which a search under section 132 of the income-tax act was initiated or requisition, under section 132a of the income-tax act was made, or survey under section 133a of the income-tax act was carried out or in respect of any earlier previous year.'28. it is .....Tag this Judgment!
Court : Kolkata
Decided on : Jan-04-2000
Reported in : (2000)158CTR(Cal)458,242ITR204(Cal)
..... and the year ending is on march 31, 1985. during the course of assessment, the assessing officer found that the assessee has claimed the benefit of section 80hh of the income-tax act, 1961, on profits and gains derived from an industrial undertaking which includes the grant of subsidy of rs. 6,29,871 under the transport subsidy scheme, 1971. the assessing ..... for our consideration is whether the amount of transport subsidy is a profit for the purpose of deduction under section 80hh of the income-tax act. as referred to above, their lordships in their latest decision in the case of cit v. sterling foods : 1999ecr481(sc) , had made a distinction between the words 'derived from' and 'attributable to'. the words 'attributable to' have ..... export of goods and, therefore, entitled for deduction under section 80hh of the income-tax act.10. in gwalior rayon silk . v. cit : 143itr590(mp) , the question before the madhya pradesh high court was to calculate the tax deduction allowance under section 2(5) of the finance (no. 2) act, 1962. the income-tax officer had calculated the value of the turnover of the exports for computation ..... in holding the view that the assessee in the present case was eligible for deduction under section 80hh of the income-tax act, 1961, in respect of transport subsidy received by it ?'2. the return was filed on september 30, 1985, disclosing a total income of rs. 29,98,041. subsequently, another return was filed on september 30, 1986, in vdiw scheme disclosing .....Tag this Judgment!
Court : Kolkata
Decided on : Sep-29-2000
Reported in : (2001)1CALLT310(HC),2001(1)CHN132
..... committed by the assessee within the meaning of section 271(1)(c) of the income-tax act. 1961, the default, if any, was a trival one and that the assessee by making a disclosure, before the assessment was taken up further, had absolved himself of the charge ..... the incorrect return, which was initially filed, was sought to be rectified by its subsequent disclosure, which was noted and acted upon by the income tax officer. it is not mandatory under section 271 of the income-tax act, 1961, that a penalty must be imposed in every case. if the conditions laid down in the said section are established, then the authority concerned 'may direct ..... condition precedent for the exercise of the jurisdiction. in commissioner of income-tax v. bengal iron galvanising works, reported in : 165itr249(cal) , a division bench of this court, inter alia, upon consideration of the provision of section 271(1)(c) of the income tax act held :'it appears that the tribunal held that though technically a default might have been ..... arriving at the aforementioned finding has taken into consideration the decision of the apex court in commissioner of income-tax v. s.v. angidi chettiar, reported in : 44itr739(sc) , wherein it has clearly been held that satisfaction before conclusion of the proceedings under the act, and not the issue of a notice or initiation of any stop for imposing penalty is a .....Tag this Judgment!
Court : Kolkata
Decided on : Sep-14-2000
Reported in : 248ITR152(Cal)
..... word 'shall' cannot be mandatory, because then the appellate provision will be, partly at least, useless. 10. there are many parts of the income-tax act where the word 'shall' has not been given an inflexible mandatory meaning. we wish to examine this question upon a fuller and fairer consideration of the ..... -84 to 1987-88 :'1. whether on a proper interpretation of sections 201(1a) and 246(1)(i) of the income-tax act, 1961, read in the context of the entire act, the charging of interest under the former section can be regarded as automatic and/or mandatory 2. whether, having regard to ..... subsequent proceedings in respect thereof also ?'for the assessment year 1985-86 : '4. whether the order passed by the income-tax appellate tribunal, on the appeal before it, without finding in favour of the assessee on the point of denial of hearing before the first officer, is ..... orders in this regard as, by notification no. s. o. 1536, dated april 10, 1989, the jurisdiction in that regard had gone over to the income-tax officer (tds) with effect from may 8, 1989. 4. the aggregate amount of interest exceeds rs. 3 crores. on the merits, the assessee was not ..... 1986-87 and 1987-88 ; '3. whether on a proper interpretation of the provisions of the act and the notification no. s. o. 1536, dated april 10, 1989. the orders passed by the deputy commissioner of income-tax. special range-i. calcutta, were without jurisdiction, and thus nullities and, consequently, were all the .....Tag this Judgment!
Court : Kolkata
Decided on : Nov-28-2000
Reported in : 248ITR245(Cal)
..... whereby the learned single judge, by his order dated august 5, 1993 (see : 211itr500(cal) ), has quashed the show-cause notice issued by the commissioner of income-tax under section 263 of the income-tax act, 1961. aggrieved by that order, the present appeal has been preferred.2. it is not necessary to go into the detailed facts. suffice it to say, a question ..... non-recurring receipt. but this question is now no more res integra in view of the amended section 55 of the income-tax act and now such kind of incomes have been specifically mentioned as capital gains. this has been introduced by the finance act of 1994 with effect from april 1, 1995. thus it is not necessary for us to determine which of the ..... acquisition. in the assessment proceedings, the assessing officer held that the said sum could not be assessed to tax since there was no cost of acquisition of the said monthly tenancy. however, the commissioner of income-tax issued a notice under section 263 of the act to the effect that the order passed by the assessing officer was prejudicial to the interests of the ..... revenue. therefore, he exercised revisional power and issued show-cause notice.4. against this show-cause notice the writ petition was filed by the petitioner by challenging that the order passed by the commissioner of income-tax, on the face .....Tag this Judgment!
Court : Kolkata
Decided on : Dec-08-2000
Reported in : 249ITR491(Cal)
..... emphasis on the last paragraph of this judgment saying that the principle followed by the courts during the british regime should not be followed by this court after independence. the income-tax act was framed during the british period in order to subserve the interest of british imperialism and this fiscal statute in free india should be given for the benefit of the ..... the records within the meaning of section 154/155 of the income-tax act, 1961. the object behind the notice is to enhance the assessment for increasing the liability. the nature of the mistake proposed to be rectified has been given that a sum ..... . 2.) : 214itr504(cal) . he also refers to a division bench judgment of this court while examining the scope and purview of section 154/155 of the income-tax act, reported in ito v. india foils ltd. : 91itr72(cal) . he has drawn my attention to the supreme court judgment on the aforesaid section reported in t. s. balaram, ito ..... kalyan jyoti sengupta, j.1. in this writ petition, the petitioner has challenged a notice dated august 10, 1988, issued under section 154/155 of the income-tax act, 1961, whereby assessment order dated june 20, 1984, under section 143(3) for the assessment year 1982-83 is sought to be amended as there is a mistake apparent from .....Tag this Judgment!
Court : Kolkata
Decided on : Jan-18-2000
Reported in : (2000)161CTR(Cal)98,244ITR68(Cal)
..... journals which were distributed to the members of the medical profession cannot be hit by the provisions of sub-sections (3a) and (3b) of section 37 of the income-tax act, 1961.9. in view of the aforesaid facts, we are of the view that the provisions of sub-sections (3a) and (3b) of section 37 cannot ..... the members of medical profession are to be regarded as expenses on 'advertisement, publicity and sales promotion' within the meaning of section 37(3a) and (3b) of the income-tax act, 1961 ?'2. the assessee is a manufacturer of medicines. the relevant assessment year is )985-86. during the course of assessment, the assessing officer, inter alia, ..... for advertisement and sales promotion and disallowed 20 per cent, of the expenditure under sub-sections (3a) and (3b) of section 37 of the act. in appeal the commissioner of income-tax (appeals) has allowed the total expenditure on samples but he sustained the order of the assessing officer, so far it relates to the expenditure on ..... publicity of the medicines manufactured by the assessee and that is for sales promotion.5. on the distribution of free samples of the products, the commissioner of income-tax (appeals) has taken the view that this is not hit by the provisions of section 37(3a). he has not treated the distribution of samples for ..... 1. on an application under section 256(1) of the income-tax act, 1961, the tribunal has referred the following question for our opinion :'whether, on the facts and in the circumstances of the case, the .....Tag this Judgment!
Court : Kolkata
Decided on : Mar-02-2000
Reported in : 243ITR575(Cal)
..... the amount of rs. 10,76,283 representing the value of incomplete jobs for the computation of capital for the purpose of calculating the relief under section 80j of the income-tax act ?(2) whether, on the facts and in the circumstances of the case, the tribunal was justified in holding that the reassessment of the assessment year 1970-71, should be made ..... . meena, j.1. on an application under section 256(1) of the income-tax act, 1961, the tribunal has referred the following questions for our opinion, set out at pages 2 and 3 of the statement of case :'(1) whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal is justified in law in confirming the order of the ..... of plant and machinery under construction could be taken into account in determining the capital employed.4. learned counsel for the revenue placed reliance on the view taken by the income-tax officer.5. heard learned counsel for the parties. in the case of alcock ashdown and co. ltd. : 224itr353(sc) , their lordships observed as under (page 361) :'we are of ..... not provide for repayment of the loan within a period of less than seven years in order to have the credit under section 80j read with rule 19a of the income-tax rules ?'2. the relevant assessment year is 1970-71 for which the relevant accounting period ended on march 31, 1970. the assessee company has set up a cement plant at .....Tag this Judgment!
Court : Kolkata
Decided on : Apr-27-2000
Reported in : 245ITR252(Cal)
..... the question is answered in favour of the assessee and against the revenue.5. though there is no direct decision under the provisions of the income-tax act wherein item no. 6 of the eleventh schedule to the income-tax act has been considered in respect of ice-cream, i.e., whether ice-cream is a milk product or a confectionery product, that question has been ..... ice-cream by taking' a view that ice-cream was not a confectionery and did not fall within items of schedule 11 to the income-tax act, 1961, as a result of which the appellate order of the commissioner of income-tax (appeals) cancelling the order of the assessing officer under section 147(b) was upheld ?'2. the assessee is a private limited company and ..... entitled for the investment allowance. in the appeal before the commissioner of income-tax (appeals), it was brought to the notice of the commissioner of income-tax (appeals) that in the earlier assessment year, i.e., 1984-85, the claim of ..... assessment ordermade under section 143(3) of the act, was reopened under section 147(b) of the act. during the course of assessment proceedings, the income-tax officer took the view that the assessee-company was engaged in the manufacture of ice-cream which was an item of confectionery included in the eleventh schedule to the income-tax act. therefore, according to him, the assessee is not .....Tag this Judgment!
Court : Kolkata
Decided on : Mar-14-2000
Reported in : (2000)158CTR(Cal)17,245ITR457(Cal)
..... for the assessment years 1991-92 and 1992-93, without giving any intimation in writing to the respondent-company, as required under section 245 of the income-tax act, 1961. the details of amount of refund, dates of order of set-off and dates of communication of set-off, are as under :amount ..... the act, is a prior intimation of the proposed action for adjustment. in the case of suresh b. jain v. a. n. shaikh, sixteenth ito : 165itr151(bom) , the bombay high court observed at page 153 as under:'a mere perusal of this section makes it clear that the income-tax officer may ..... intimation in writing to such person of the proposed action. shri devadhar, learned counsel appearing on behalf of the respondents, had to concede that the income-tax officer did not give any intimation to the petitioner before making adjustment while passing the assessment order for the assessment year 1983-84. in my judgment ..... , the action of the income-tax officer is wholly illegal and the respondents were clearly in error in not refunding the amount of rs. 4,26,090 to the petitioner forthwith ..... are in favour of the assessee that opportunity should be given to the assessee if any refund is set off against the tax liability under section 245 of the act. the order without intimation is nonest and their lordships even have observed in some cases that unless the statute prohibits a .....Tag this Judgment!