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Judgment Search Results Home > Cases Phrase: income tax act Court: kolkata Year: 2001 Page 11 of about 112 results (0.076 seconds)

Feb 02 2001 (HC)

Gajanand Harlalka and Sons Vs. Commissioner of Wealth-tax and ors.

Court : Kolkata

Decided on : Feb-02-2001

Reported in : [2001]249ITR9(Cal)

..... kalyan jyoti sengupta, j.1. this writ petition is directed against the order of the commissioner of income-tax, west bengal-x, calcutta, acting as the commissioner under the wealth-tax act, 1957, passed on the application for waiver of penalty by the writ petitioner-assessee for the assessment years 1970-71, 1976- ..... concerned officer imposed the aforesaid amounts of penalty. against the aforesaid order an application under section 18b(1)(b) of the wealth-tax act was made.4. the ground taken in the application by the assessee/petitioner was that before issuance of notice under section 14(2) of the ..... from the beginning as from the records it will appear that the application under section 18b of the wealth-tax act was filed for waiver of penalty under section 18(1)(a) of the said act for late filing of the returns of wealth. the aforesaid section does not envisage waiver of interest. even ..... in debabrata basu v. state of west bengal [1980] 84 cwn 90 and hindustan motors ltd. v. cit : [1996]218itr450(cal) .6. he further contends that the act itself makes a distinction between tax, penalty and interest and other reasons of non-disclosure of value of jewel lery and ornaments in the return ..... to the assessment of his net wealth and has either paid or made satisfactory arrangements for the payment of any tax or interest payable in consequence of an order passed under this act in respect of the relevant assessment year.explanation--for the purposes of this sub-section, a person shall be .....

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May 18 2001 (HC)

Roushan Ali Alias Anwar Vs. Abdul Jalil

Court : Kolkata

Decided on : May-18-2001

Reported in : (2001)3CALLT280(HC)

..... payment of rs. 22,000/- from the plaintiff on the very next day (18.11.83) for payment of arrear municipal rates and taxes and for obtaining income tax clearance certificate.3. the plaintiff, thereafter, investigated the defendant's title to the suit property and also caused newspaper publication regarding sale of the ..... court below was erroneous and the learned court below resorted to an erroneous approach in observing that undersection 16(c) of the specific relief act the plaintiff was required to prove beyond all reasonable doubt that he was ready and willing to perform his part of the contract. there ..... structures at therelevant time.18. mr. dasgupta next contended that the readiness and willingness provision contained in section 16(c) of the specific relief act did not meanthat the purchaser had to be in perpetual readiness while the contract was in existence. the purchaser was required to show that he ..... s. dastane : [1975]3scr967 wherein the hon'ble supreme court, while dealing with the provisions of sections 10 and 23 of the hindu marriage act, 1955. inter alia, observed that the belief regarding the existence of a fact may be founded in a balance of probabilities and how a prudent ..... court beyond doubt, the learned trial courtdismissed the suit upon holding further that no relief could be granted to the plaintiff under the specific relief act for want of proper proof.8. appearing in support of the appeal, mr. sudhis dasgupta submitted that in the face of the evidence on .....

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Jan 09 2001 (HC)

Sibco Investment Pvt. Ltd. and anr. Vs. Small Industries Development B ...

Court : Kolkata

Decided on : Jan-09-2001

Reported in : [2001]105CompCas786(Cal)

..... court, moreover, whether petitioners are entitled for benefit of section 531a on the basis of the judgment of k. n. narayana iyer v. commissioner of income-tax [1993] 78 comp cas 156 (ker) or not is definitely dependable under certain circumstances and such circumstances are to be adjudicated by a court having ..... by saying that the expression 'legal proceedings' or 'other legal proceedings' would not include criminal complaint for the sake of section 446 of the act must be read ejusdem generis within the expression 'suit' and can mean only civil proceedings which have a bearing in so far as the winding ..... on section 531a. they have also made certain submissions in respect of section 36 and section 118(e) and (g) of the negotiable instruments act, 1881. they wanted to submit that every prior party to a negotiable instrument is liable thereto in due course until the instrument is duly satisfied. ..... is not open to a stranger to ignore it and treat the transferred asset as remaining with the liquidator relying on section 531a of the act. by citing this judgment both learned counsel interpreted that the liquidator has no business to interfere with the transfer between sri sankarlal saraf and the ..... within one year before the presentation of the winding up petition or subject to supervision shall be avoided against the liquidator. section 532 of the act speaks of transfers for the benefit of all creditors to be void meaning thereby any transfer or assignment by a company of all its properties .....

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Apr 30 2001 (TRI)

Cc, Calcutta Vs. Bharat Kr. Mahensaria, Shishir

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Calcutta

Decided on : Apr-30-2001

..... eh appellate stage also.reference in this context has been made to the hon'ble supreme court's decision in the case of mathew of m.thomas v. commissioner of income tax-1999(33)rlt 227(sc) wherein it has been held that held that proceedings once initiated will continue to have the same character till they acquire finality and as such ..... samadhan scheme, the present proceedings will also get terminated. in this connection we find that the central govt. have issued orders under section 97(i) of the finance(no.2) act, 1998, interalia clarifying that no civil proceedings for imposition of fine and penalty shall be proceeded against the con-noticees and in such cases, the settlement in favour of the ..... the word 'proceeding' shall include the proceedings at the appellate stage.3. inasmuch as the tax arrears have been settled by the principle noticee under the provision of kar vivad samadhan scheme , we hold that in terms of the above trade notices the same will provide ..... 1998. in this reard we have seen the certificate dt.25.2.99 issued by the commissioner of custom,s, calcutta in form 3 in full and final settlement of tax arrears under the provision of the same samadhan scheme.2. the respondents' contentions are that inasmuch as the dispute has been settled by the main person under the provision of .....

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May 16 2001 (HC)

ifgl Refractories Ltd. Vs. Joint Director General of Foreign Trade

Court : Kolkata

Decided on : May-16-2001

Reported in : 2001(132)ELT545(Cal)

..... substantive law. i find decision of the supreme court cited by mr. banerjee rendered in a case deciding on a question of implication of contrary provision of income tax rules in the case of c.i.t. v. taj mahal hotel reported in : [1971]82itr44(sc) supports the contention of mr. banerjee. ..... which in my view is a promise held out by the respondent nos. 1 and 2 for extending the benefit. the petitioner altered its position acting upon said promise by procuring advance intermediate licence.34. in this case the petitioner claims in terms of para 122 clause (c) for refund of ..... said notification the writ petitioner has and was made to pay excise duty, the remedy is for refund of the central excise authority under the relevant act and rules. the writ petitioners, in fact, had proceeded against central excise authority but for reason best known to them have abandoned and/or withdrawn ..... that the handbook is to implement the provisions of foreign trade (development & regulation) act, 1992, the rules and orders made thereunder and the export and import policy 1992-97. according to him, the purpose of handbook is to implement the ..... of the dgft are wholly absurd and misconceived as the export and import policy have been framed under section 5 of the foreign trade (development & regulation) act, 1992. therefore, the aforesaid policy has got the statutory force.6. paragraph 3 of the handbook of procedures (both 1994-95,1995-96) provided .....

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Jun 19 2001 (TRI)

Smt. Nirmala Mitra Vs. Commissioner of Customs, Patna

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Calcutta

Decided on : Jun-19-2001

Reported in : (2001)(77)ECC713

..... collector of customs, madras;ecr-614 (cegat) shri r.ramesh, madras vs. collector of customs, madras (v) 1986 (26) elt-10(sc) commissioner of income tax & other vs. tarsem kumar & another.2.4. in the preset case, the assistant collector of customs filed writ petition to the hon'ble court and as ..... dominion over the goods. in other words, it is an act of seizure of the goods within the meaning of section 110(1) of the customs act, 1962. it was fan prohibitory order under the proviso to section 110(1). in the case of commissioner of income tax & others vs.tarsem kumar & others (1986 (26)elt ..... that possession is transferred, by virtue of the provisions contained in s.180 to the customs authorities, there is no fresh seizure under the customs act. it would, therefore follow that, having regard to the circumstances in which the gold came into the possession of the customs authorities, the terms of ..... to the customs authorities and to be deposited in the back and permission was granted to the customs authorities to proceed under the provisions of customs act, 1962. the gold in question has been confiscated by the adjudicating authority on the ground that the same was smuggled gold. the question which ..... of gold by the assistant commissioner, customs , ranchi; court's order rendering the liberty to the customs authority to initiate actin under the customs act 1962, the segregation of the foreign gold bars vis-a-vis making of inventory and signature of the inventory of the foreign gold bars on 18 .....

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Apr 10 2001 (HC)

Kajaria Investment and Properties P. Ltd. Vs. Income-tax Officer and o ...

Court : Kolkata

Decided on : Apr-10-2001

Reported in : (2001)170CTR(Cal)192,[2001]250ITR619(Cal)

..... on the basis of the material that the assessee had invested in the construction more than what had been shown by it in the course of the assessment proceedings, the income-tax officer could not proceed merely on the basis of the valuation report of the departmental valuer. in the reported judgment, it was also a case of reopening of the assessment ..... books of account.3. mr. khaitan assailing the aforesaid reason contends that the opinion of an engineer cannot be a material to entertain any belief that the petitioner has escaped income. therefore, the authority concerned ought not to have reopened the assessment already done. in support of his submission, he has relied on a decision of this court in tarawati debi ..... jurisdiction to reopen the assessment under section 147(a) since there was no material to have reason to believe that the petitioners did not disclose the material fact and the income which has escaped from assessment. there is an interim order in all the three matters till today. in this kind of cases the only point to be considered is whether ..... was passed long time back and at the time of assessment the petitioner duly produced the books of account. the petitioner is admittedly a limited company and under the companies act the books of account are compulsorily audited and scrutinised, the audited accounts gives a presumption as to the correctness of the contents thereof and those must be supported by the .....

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Oct 18 2001 (TRI)

Assistant Commissioner of Income Vs. Anil Kumar Mehra (Huf),

Court : Income Tax Appellate Tribunal ITAT Kolkata

Decided on : Oct-18-2001

Reported in : (2002)81ITD531(Kol.)

..... , it is an admitted position that none of the assessees is anyway interested in premium estate, which is separately assessed to income-tax vide gir no. p-17 by asstt. cit, comp. circle 3(5), new delhi. it is also found that the transaction for purchase and resale of the property ..... to unearned increase payable to l&do.11. the assessees also obtained a certificate dt. 30th april, 1992 under section 230a(1) of the act from the assessing authority for the purpose of getting registration of deed of conveyance before the registrar, new delhi in favour of transferee, eot. ..... with premium estate as confirming party submitted a statement of transfer of immovable property in question to the appropriate authority under section 269uc of the act showing therein the apparent consideration at rs. 1.40 crores and eot as transferee. the appropriate authority then issued certificate under section 269ul(3 ..... 30 days of receipt of notice from the vendors that the requisite permission or approval of the appropriate authority under section 269uc of the it act and rules framed in pursuance thereof as provided in para 3 hereof have been obtained within which period of certificate in form 34a ..... the matter of payment of the balance consideration. (4) clause (iv) provides the requirement of obtaining no objection certificate from the appropriate authority under the it act. (5) clause (vii) speaks about the completion of the sale transaction and in case the vendors fails to fulfil the obligation under the sale of .....

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May 28 2001 (HC)

Kanoi Paper and Industries Ltd. Vs. Asstt. Cit

Court : Kolkata

Decided on : May-28-2001

Reported in : (2002)75TTJ(Cal)448

..... previous year' have been omitted from the second proviso of section 43b with effect from 1-4-19894. hunsur plywood works ltd. v. dy. cit it has been held in this case that the concept of due date has to be considered in a rather flexible sense and that the grace period ..... the provident fund account of the employees was made presumably by taking recourse to the provisions of section 43b and section 36(1)(va) of the act. the amount under consideration seems to be consisting of two portions, viz., employees contribution portion and the employer's contribution portion.the addition was upheld ..... va).in support of this contention reliance has been tried to place on various decisions as follows :(1) fluid air (india) ltd. v. dy. cit it has been decided in this case that the provisions of section 43b and section 36(1)(va) should be interpreted liberally, that ambiguity regarding interpretation ..... year but beyond and due date, in accordance with the second proviso to section 438 disallowance should follows :(1) cit v. k.l. thirani & co. ltd. : [1996]218itr149(cal) ;(2) cit v. south india corporation ltd. : [2000]242itr114(ker) ;(3) cit v. sree karnakhya tea co. (p) ltd. : [1993]199itr714(cal) ; and(4) mitech india ( ..... 4. reliance has also been placed on the judgment of the hon'ble supreme court in the case of cit v. j.h. gotla : [1985]156itr323(sc) , k. p. varghese v. ito : [1981]131itr597(sc) and cit v. vegetable products ltd. : [1973]88itr192(sc) to argue that the court may modify the language .....

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Jun 26 2001 (HC)

National Engg. Inds. Ltd. Vs. Cit

Court : Kolkata

Decided on : Jun-26-2001

Reported in : [2001]80ITD9(Cal)

..... is evident from the following extract from memorandum explaining the budget:'when the interest tax act was received last year, the intention was to cover non-banking financial companies, it has, however, been found that there are a number of finance and investment companies which earn substantial income from interest on loans and advances and are yet not covered by the ..... residuary non-banking financial company and, consequently, a credit institution within the meaning of section 2(5a), read with sub-section (5b)(va) of the act and, therefore, liable to tax on their interest income earned on loans and advances given. in some of the cases, the deposits have been received from the employees of the assessee-company and on that ..... immovable property, so, however, that no portion of the income of the institution is derived from the financing of purchases, constructions or sales or immovable property by other persons;' (emphasis here italicised in print supplied)clause (vi) has been bodily lifted and placed in clause (va) of the interest tax act. mark the underlined words 'institution which carries on as its ..... this common order for the sake of convenience.1a. this act after two eclipses was re-introduced by the finance (no. 2) act, 1991 as an anti-inflationary measure. originally it provided for levy of tax on chargeable interest accruing or arising to scheduled banks. the tax is levied on gross interest income of credit institutions, that is banks including co-operative societies .....

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