Court : Kolkata
Decided on : Mar-08-2000
Reported in : 77ITD67(Cal)
..... . sales tax act, purchase tax was levied on the assessee. the assessee did not accept the levy but paid the ..... case, the learned commissioner (appeals)-vi, calcutta erred in holding that the assessing officer wrongly in taxing the sum of rs. 61,75,888 under section 41(1) of the income tax act, 1961 as there was no finality in respect of the liability of the purchase tax.'2. briefly stated, the relevant facts giving rise to this appeal are that under the u.p ..... submitted that an amount which had been earlier allowed as a deduction while computing the income chargeable under the head 'profits and gains of business or profession' can only be subjected to income-tax in a subsequent assessment year by invoking the provisions of section 41(1) of the act and in this regard placed reliance on the decision of the supreme court in ..... said that there was cessation of the liability for the purpose of section 41(1) of the act. the assessee took the plea before the learned commissioner (appeals) relying on the decision given in the case of j.k. synthetics ltd. v. o.s. bajpai, income tax officer : 105itr864(all) that in view of the pendency of the appeal before the allahabad .....Tag this Judgment!
Court : Kolkata
Decided on : Feb-18-2000
Reported in : 77ITD198(Cal)
..... interpretation can be given to the section as a whole.'(ii) cit v. podar cement (p) ltd. : 226itr625(sc) :the supreme court held that clause (iiia) of section 27 of the income tax act, inserted by the finance act, 1987 with effect from assessment year 1988-89 was merely clarificatory ..... or undue or unwanted results in treating the items under consideration as parts of the total turnover of business of the assessee. the judgments of income tax appellate tribunal, calcutta bench in the cases of chloride india ltd. (supra) and stone india ltd. (supra) would also, therefore, be ..... exports, duty drawbacks etc. as a corollary, the total turnover also should not include such items. he relies upon two decisions of the income tax appellate tribunal, calcutta bench in support of this contention that a parity must be maintained between the items to be included in the 'export ..... of the wealth tax rules on the consideration of a latter amendment to the wealth tax act by inserting schedule-iii to the act almost in the same manner, in which rule 1d had earlier been enacted.8. the subsidy on export (cash assistance) is considered to constitute business income under section ..... income tax appeal nos. 3019 & 3008 (cal.) of 1995 dated 10-5-1999) in the case of stone india ltd., assessment years 1991-92 and 1992-93.3. thereafter, the learned counsel for the assessee refers to the definition of 'total turnover' as provided in section 80hhc itself. it may be mentioned in this connection that finance act .....Tag this Judgment!
Court : Kolkata
Decided on : Aug-28-2000
Reported in : 79ITD189(Cal)
..... in that case it was held by the honble apex court that in computing the profits for the purpose of deduction under section 80e of the income tax act, 1961 the loss incurred by the assessee in the manufacture of alloy steel could not be set off against the profits of manufactured automobile ancillaries. ..... context does not include loss as there is no specific mention in the given section stating that profits includes loss cannot be accepted as under the income tax act profit was inclusive of loss and the loss, was negative profit.'with the aforesaid observations the commissioner (appeals) confirmed the order of the assessing officer ..... assessee as unreasonable and agreed with the assessing officer that profit referred to in section 80hhc(3) included loss as in any other section of income tax act. he was of the view that profit computed under any head of 'business or profession' which resulted in a loss was not to be ..... by this amount which bore 90 per cent of any sum referred to in clauses (iiia), (iiib) and (iiic) of section 28 of the income tax act. it was also submitted that computation of profit under the head 'profit and gains of business or profession' and calculation of deduction under section 80hhc were ..... with sub-section (3) of section 80hhc. the assessing officer was of the view that profit also means loss as in any other section of income tax act.4. in the first appeal, it was submitted that section 80hhc(3) did not state that profit also included loss and proviso to section .....Tag this Judgment!
Court : Kolkata
Decided on : Jul-31-2000
Reported in : 79ITD278(Cal)
..... constitutional bench of the supreme court in the case of pannalal binjraj v. union of india : 31itr565(sc) :'a humane and considerate administration of the relevant provisions of the income tax act would go a long way in allaying the apprehensions of the assessees and if that is done in the true spirit, no assessee will be in a position to charge ..... which was binding on the appellant, there is no default on the part of the appellant company in terms of section 201 of the income tax act. therefore, while i approve the action of the income tax officer in recovering addl. tax on cca, the levy of interest under section 201(1a) is not justified. the levy of interest of rs. 2001 & rs. 2466 for the ..... the assessee under this head for that financial year'. a perusal of the aforesaid section makes it clear that liability of the employer is to deduct tax on the estimated income of the employees. the provision of section 201 of the income tax act are attracted in the case of an employer when the employer does not deduct or after deducting, fails to pay the ..... salary payable to his employees arises by virtue of section 192(1) of the income tax act which reads as under : 'any person responsible for paying any income chargeable under the head salaries shall, at the time of payment, deduct income-tax on the amount payable at the average rate of income-tax computed on the basis of the rates in force for the financial year in which .....Tag this Judgment!
Court : Kolkata
Decided on : Mar-14-2000
Reported in : (2001)165CTR(Cal)218,111TAXMAN369(Cal)
..... various high courts and has taken the view that no adjustment can be made of the refund due to the assessee, against any tax arrears, without intimation to the assessee as required under section 245 of the income tax act, 1961 income tax act.4. heard i he learned counsel for the appellants, shri roy chowdhury submits that though the intimation was not given before set-off ..... of tile amount due against the assessee but after setting off the amount against tax arrears the intimation was given and the assessee has not raised ..... person, but only after giving 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 ..... respondents were clearly in error in not refunding the amount of rs. 4,26,090 to the petitioner forthwith.' (p. 153)9. in the case of hira lal & sons v. income tax officer : 156itr30(all) , the allahabad high court has observed as under:'. . . the petitioner's grievance in this respect is well-founded. it is, therefore, necessary to quash that part .....Tag this Judgment!
Court : Kolkata
Decided on : Aug-14-2000
Reported in : 113TAXMAN229(Cal)
..... the facts and in the circumstances of the case, the trihunal was justified in law in setting aside the order of the commissioner of income-tax under section 263 of the income tax act, 1961 and restoring the original assessment order ?'2. the questions referred at the instance of the assessee reads as under:'1. whether, on the facts and in ..... as such the same was not binding on the commissioner who sub-sequently passed order under section 263 of the income tax act, 1961?2. whether, on the facts and in the circumstances of the case, the order passed under section 263 of the income tax act, 1961 cancelling the assessment with a direction to make a fresh assessment by holding the .said assessment to be ..... meena, j.on an application under section 256(2) of the income tax act, 1961 (hereinafter referred to as 'the act') this court has directed the tribunal to refer the following questions for the opinion of this court. question referred at the instance of the revenue reads as under:'whether, on ..... receipt of reply to that show-cause notice, the commissioner has considered the reply and in his opinion the assessment order of the income tax officer under section 143(3) of the act for the assessment year 1981-82 is erroneous and prejudicial to the interest of the revenue. he concealed that order with the direction to make a fresh assessment order in .....Tag this Judgment!
Court : Kolkata
Decided on : Apr-25-2000
Reported in : (2001)164CTR(Cal)392
..... facts and in the circumstances of the case, the tribunal was justified in allowing investment allowance on jeeps and motor-cycles owned by the assessee under section 32a of the income tax act, 1961 ?2. whether, on the facts and circumstances of the case, the tribunal was justified in allowing extra shift allowance on building and furniture as per section 32 read with ..... asked to explain why a sum of rs. 5,00,640 should not be added in the total income of the assessee. the income tax officer further noticed that the assessee has claimed investment allowance on jeeps and motor-cycles under section 32a of the income tax act, 1961, and extra shift allowance on building and furniture as per section 32 read with rule 5 of ..... and circumstances of the case, the tribunal was justified in holding that the assessee was entitled to relief under section 35c of the income tax act, 1961 ?'2. the assessee has filed its return on 20-11-1978, showing the total income of rs. 2,62,601. the assessment was completed under section 144 on 31-1-1981. that was cancelled and in fresh ..... the income tax rules, 1962. he disallowed both and also disallowed the claim of the assessee that the assessee is entitled for any relief under .....Tag this Judgment!
Court : Kolkata
Decided on : Nov-15-2000
Reported in : (2001)166CTR(Cal)437
..... . so the same is beyond statutory limit of percentage. this apparent consideration has been worked out correctly as per provision of section 269ua(b) of the income tax act, 1961, as well as rule 48-i of the income tax rules, 1962. in support of his submission learned lawyer for the respondents relies on the decision of the supreme court in appropriate authority & anr. v ..... amenable to public scrutiny because of public notification. apparent undervaluation per se always is not factor to presume the transaction being designed to evade tax which is sine qua non to exercise power under section 269ud of income tax act. there are instances of sale where vendor sometimes is forced to sell a property under distress and pressing need or at even a throwaway ..... .the petitioner in this writ application has challenged an order dated 29-7-1993, passed by the appropriate authority of income tax department, calcutta (respondent no. 1 herein), under section 269ud(1) of the income tax act, 1961 (hereinafter referred to as the said act).by the said impugned order it has been held by the respondents that there has been understatement of apparent consideration in .....Tag this Judgment!
Court : Kolkata
Decided on : Nov-22-2000
Reported in : (2001)168CTR(Cal)587
..... a writ petition which was moved in this court for setting aside the notices dated 16-6-1980, issued under section 148 of the income tax act, 1961, for the assessment years 1973-74 and 1974-75 by the income tax officer, j. ward, district-iv(i), and the order being order no. re-open/1/81/ws-x/227, dated 6-6-1980, passed ..... , the following shall also deemed to be cases where income chargeable to tax has escaped assessment, namely :(a) where income chargeable to tax has been assessed; or(b) where such income has been assessed at too low a rate; or(c) where such income has been made, the subject of excessive relief under this act or under the indian income tax act, 1922, or(d) where excessive loss or depreciation ..... the basis of such information, it was not open for him to invoke the provisions of section 147(a) of the income tax act, 1961, and reopen the assessment even though he may have to notice facts mentioned in the return by the other side. in that decision also the madhya pradesh high court ..... allowance has been commuted.explanation 2 : production before the income tax officer of all account books or other evidence from which material evidence could with due diligence have been discovered by the income tax officer will not necessarily amount to disclosure within the .....Tag this Judgment!
Court : Income Tax Appellate Tribunal ITAT Kolkata
Decided on : Sep-12-2000
Reported in : (2001)76ITD89(Kol.)
..... , the issue was referred to the president, itat for constitution of a special bench for deciding the same. the president accordingly constituted the bench under section 255(3) of the income-tax act.3. the appeals were fixed for hearing on 4-7-2000 but on that day they were adjourned and posted for hearing on 7-7-2000 on which date they ..... could be sold in the market is a manufacturing activity, entitling it to claim the deductions, as contemplated under sections 80hh and 80-i of the income-tax act, 1961. the facts of this case and the acts of the assessee before us are also entirely different. in the case of casino (p.) ltd (supra) it was held that a hotel is mainly a ..... enactments on which courts have decided and the learned ar of the assessee relied on, arc not same. the language in those acts and sections is different. they are not akin to the language in section 80hh of the income-tax act and, therefore, the cases relied on by the learned ar of the assessee cannot be applied to the facts of the present ..... and substantial but in the instant case it is not so. here we consider necessary to refer section 80hh of the income-tax act, 1961. in order to encourage industrial activity in backward areas, this section grants deduction to an assessee, whose total income includes any profits and gains derived from an industrial undertaking (other than a mining undertaking) or the business of a .....Tag this Judgment!