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Judgment Search Results Home > Cases Phrase: income tax act Court: kolkata Year: 2001 Page 3 of about 112 results (0.034 seconds)

Mar 08 2001 (HC)

i.T.C. Ltd. Vs. Inspecting Assistant Commissioner and ors.

Court : Kolkata

Decided on : Mar-08-2001

Reported in : [2001]249ITR104(Cal)

..... on october 17, 1977, the inspecting assistant commissioner, special range-i, issued a notice under section 154/155 of the income-tax act, 1961, for correction of a mistake for calculation of tax amount for the self-same assessment year and asked the views of the assessee in the said regard. the assessee asked for ..... 263 relying on the doctrine of merger. in this case the tribunal held that there was no merger of the order of the income-tax officer in the order of the income-tax commissioner (appeals) and rejected the contention on that point. the division bench held that such view of the tribunal was not correct. ..... , a mistake of law which was glaring and obvious could also be similarly rectified. in this case the income-tax officer initially did not include the sales tax payable to the government in the total income of the assessee, later on he has issued notice under sections 154 and 155 for rectification of mistake. this ..... might result in two opinions hence it cannot be said to be a mistake that can be rectified under section 154 of the said act, 1961.17. oil india ltd v. cit : [1982]138itr836(cal) .: in the instant case, the division bench held that where an appeal is preferred before the appellate ..... 1977, appearing at page no. 60 of the writ petition indicated that the mistake is in respect of withdrawal of rebate of super tax under the provisions of the finance act, 1964. the said notice has been impugned before me by the assessee in this writ petition.5. mr. pranab kumar pal led .....

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Mar 28 2001 (HC)

Duncan Agro Industries Ltd. Vs. Income-tax Officer, Central Section Xx ...

Court : Kolkata

Decided on : Mar-28-2001

Reported in : [2001]249ITR253(Cal)

..... asked the assessee to show cause as to why the order passed by the assessing officer would not be revised under section 263(1) of the income-tax act, 1961, for the assessment year 1974-75.2. appearing for the petitioner, dr. debi prasad pal, learned senior counsel, submitted that the assessment ..... 13. hence, relying on the proposition of law laid down in the case of cit v. shri arbuda mills ltd. : [1998]231itr50(sc) and cit v. mulchand bagri, i hold that the explanation incorporated in section 263(1) of the income-tax act, 1961, has its retrospective effect and the impugned notice dated june 22, 1979, ..... ashim kumar banerjee, j.1. notice dated june 22, 1979, issued by the respondent authority under section 263 of the income-tax act, 1961, served on the assessee, the petitioner abovenamed has been impugned before me in this writ petition. the said notice dated ..... issued by the commissioner of income-tax is valid and binding upon the parties.14. in the result, the writ petition fails and is hereby dismissed ..... pal, the direction of the inspecting assistant commissioner in the said case is complied with by the income-tax officer by virtue of the provisions of section 144b(5) of the said act and the commissioner of income-tax has no power to revise such order which has been passed in compliance with the direction of .....

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Apr 03 2001 (HC)

SAiL-DSP VR Employees' Association Vs. Union of India and Ors.

Court : Kolkata

Decided on : Apr-03-2001

Reported in : [2001]250ITR30(Cal)

..... judgment is wholly inappropriate and misleading so to say.9. before i examine whether this voluntary retirement scheme is in consonance with section 10(10c) of the income-tax act, 1961, read with rule 2ba of the income-tax rules, 1962, it is appropriate to examine the scope and purview of the aforesaid section. so i quote the aforesaid section.'(10c) any amount received by ..... employment by its employer, is liable to be treated as profit in lieu of salary. so, it is assessable under the head 'salary' under section 17(3)(i) of the income-tax act, 1961.8. a bare perusal of the aforesaid judgment makes it clear that the said judgment is not applicable in this case as it was a case of an employee ..... the members of writ petitioner no. 1 voluntarily retired do come within the purview of section 10(10c) of the income-tax act, 1961, read with rule 2ba of the income-tax rules, 1962. he contends that though the monetary benefits given in terms of the voluntary retirement scheme are being paid quarterly in a year spreading over ..... india limited and durgapur steel plant have approached for the relief of exemption from paying any income-tax under section 10(10c) of the income-tax act, 1961. under the scheme, according to the writ petitioner, they are fully exempted from paying income-tax but the concerned employer is systematically deducting taxes at source.2. the learned lawyer for the writ petitioner contends that the scheme under which .....

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May 02 2001 (HC)

Commissioner of Income-tax Vs. I.O.L. Ltd.

Court : Kolkata

Decided on : May-02-2001

Reported in : [2001]250ITR185(Cal)

..... considered the meaning of 'month' and has taken the view that the meaning of 'month' referred to in section 139(8) of the income-tax act read with rule 119a of the income-tax rules, 1962, means a complete month and where the month is of 31st days, if the return was filed on the 31st day of ..... the facts and in the circumstances of the case, the tribunal is justified in law in holding that charging of interest under section 139(8) of the income-tax act, 1961, is misconstrued and accordingly quashing the rectification order under section 154 and deleting interest under section 139(8) for the assessment years 1984-85 and 1985 ..... charged or not. if interest has not been charged in the regular assessment that cannot be charged in an order under section 154 of the income-tax act, 1961.10. in view of these admitted facts we find no reason to interfere in the order of the tribunal. in the result, we ..... for the parties. the facts are not in dispute that while the original orders were passed under section 143(3) of the income-tax act, interest was not charged under section 139(8) of the act, for the delayed filing of the returns on july 31, 1984, and july 31, 1985. in the order under section ..... , respectively, for both the years. no interest was charged for delay in filing the return under section 139(8) of the said act.3. thereafter, an order under section 154 of the income-tax act, 1961, was passed on july 20, 1989, for the assessment year 1984-85 charging the interest under section 139(8) of the .....

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Apr 25 2001 (HC)

Apeejay Industries Ltd. Vs. Commissioner of Income-tax and ors.

Court : Kolkata

Decided on : Apr-25-2001

Reported in : [2001]250ITR414(Cal)

..... . 1. upon a plain reading of the order it appears to me that respondent no. 1 has not applied the aforesaid provision of subsection (2a) of section 220 of the income-tax act, 1961, on the factual matrix of this case. it appears further to me that he has discussed and considered some other materials which were not really brought before him. i ..... directed against order dated december 31, 1993, and order dated august 11, 1978, october 31, 1979, december 19, 1989, and the proceedings for charging interest under section 220 of the income-tax act, 1961 and the order rejecting the applications for waiver and the certificate case no. 82 t. r.-24 of 1978-79 and 35 t. r-24 of 1979-80 for ..... contends that the aforesaid case was decided while dealing with section 31(2a) of the wealth-tax act, which, according to him, is analogous to the provisions of section 220(2a) of the income-tax act. in that case, it was decided that the aforesaid amending act of the wealth-tax act has no retrospective operation. he contends that the point of law can be agitated at any ..... writ petitioner herein. the subject-matter of the writ petition relates tothe assessment years 1973-74 and 1974-75. interest is sought to be realised under section 220 of the income-tax act, 1901 (in short 'the act' hereinafter). so the writ petitioner herein filed an application for waiver of interest under section 220, sub-section (2a) of the .....

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Mar 02 2001 (HC)

All India Vijaya Bank Officers' Association and Ors. Vs. Vijaya Bank a ...

Court : Kolkata

Decided on : Mar-02-2001

Reported in : (2001)169CTR(Cal)506,[2001]250ITR500(Cal)

..... no concession to the employee in the matter of realisation of rent then there cannot be any question of any perquisite within the meaning of section 17(2) of the income-tax act.6. in the next decision of the division bench of this court reported in ito v. all india vijaya bank officers' association : [1997]225itr37(cal) , the same principle has been ..... followed. it has been held therein amongst others that if there was no perquisite the question of valuation did not arise. rule 3(b) of the income-tax rules, 1962, would only be applied where the accommodation had been given to the employees at a concessional rate and if there was no concession rule 3(b) of the ..... and presently as well as in future is ultra vires and without jurisdiction. moreover, he contends that there is no basis and/or method for calculating the rate at which income-tax should be levied. he contends further that it is not for the employer to calculate at the rate which has been done by it. it would be for ihe assessing ..... of the furniture being supplied as per service condition to the officers concerned over and above a nominal rent being charged and recovered. he contends further that the levy of income-tax on the perquisite of the employees can be imposed under the provisions of section 17, sub-section (2). the aforesaid section authorises the employer concerned to deduct at source on .....

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Mar 23 2001 (HC)

Commissioner of Income-tax Vs. Avik Investment and Trading Co. (P.) Lt ...

Court : Kolkata

Decided on : Mar-23-2001

Reported in : [2001]250ITR854(Cal)

..... shares held by the firm, the tribunal was correct in law in holding that the assessee (a partner) would be entitled to deduction under section 80m of the income-tax act, 1961, on account of share income by way of dividend from the firm?'2. in pursuance of our direction, the tribunal has referred the question for our opinion.3. the assessee is a ..... , a partner on dividend income, through a firm, should also be entitled for the deduction under section 80m of the ..... beneficiary on dividend income, through the trust is entitled for section 80m deduction on the same analogy ..... and steel co. ltd. : [1985]156itr314(cal) .6. in cit v. indian iron and steel co. ltd. : [1985]156itr314(cal) , this court has taken the view, when the beneficiary received income by way of dividend income through the trust, the beneficiary is entitled to the benefit of deduction under section 80m of the income-tax act.7. learned counsel for the assessee submits that when a .....

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Mar 16 2001 (HC)

Commissioner of Income-tax Vs. India Automobiles (1960) Ltd.

Court : Kolkata

Decided on : Mar-16-2001

Reported in : [2001]251ITR117(Cal)

..... has been taxed as income under the head 'other sources'. the assessee carried the matter before the commissioner of income-tax (appeals). the commissioner of income-tax (appeals) has also confirmed the view taken by the income-tax officer.4. in appeal before the tribunal, the tribunal ..... reference application under section 256(1) of the income-tax act, 1961, the tribunal has referred the following questions set out in paragraph 6, at page 7 of the statement of case :'i. whether, on the facts and in the circumstances of the case, the amount of rs. 6,39,971 can be assessed to tax as income ?2. if the answer is in the ..... got the relief of rs. 6,75,191. the income-tax officer while completing the assessment took the view that the balance amount, i.e., rs. 6,73,191, for which the assessee got the relief, that amount cannot be taxed under the provisions of section 41(1) of the act, but that can be taxed as income under the head 'other sources' and that amount ..... relief in the liability does not arise. as there was no provision corresponding to section 41(1) of the act to tax the amount of relief allowed by any court in reducing the liability of tax accrued in the earlier year in respect of income from house property.6. learned counsel for the revenue has also failed to show any provision under which the .....

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May 16 2001 (HC)

Reckitt and Colman of India Ltd. and anr. Vs. Assistant Commissioner o ...

Court : Kolkata

Decided on : May-16-2001

Reported in : [2001]251ITR306(Cal),[2001]252ITR550(Cal)

..... revenue act, 1963 (54 of 1963),(b) directors-general of income-tax or chief commissioners of income-tax,(c) directors of income-tax or commissioners of income-tax or commissioners of income-tax (appeals),(cc) additional directors of income-tax or additional commissioners of income-tax or additional commissioners of income-tax (appeals),(d) deputy directors of income-tax or deputy commissioners of income-tax or deputy commissioners of income-tax (appeals),(e) assistant directors of income-tax or assistant commissioners of income-tax,(f) income-tax officers,(g) tax ..... . section 206 of the income-tax act speaks of prescribed returns to be filed before the prescribed income-tax authorities. section 2(33) of the income-tax act defines 'prescribed' which means prescribed by the rules. rule 37 prescribes the ..... the assessees within the jurisdiction specified in section 120(3) of the income-tax act. the board is not the prescribed income-tax authority under section 206 of the income-tax act. the board, therefore, cannot delegate any power which the board itself docs not have under section 120(2) of the income-tax act to any other income-tax authority and the purported delegation to the chief commissioner therefore is ultra vires .....

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May 07 2001 (HC)

Bagmari Tea Co. Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : May-07-2001

Reported in : [2001]251ITR640(Cal)

..... assessee has made the payment of rs. 65,500 in contravention of the provisions of section 40a(3) of the income-tax act, 1961. he disallowed both the amounts and added in the income of the assessee. the commissioner of income-tax (appeals) as well as the tribunal also found that no details are filed as to what exactly are the ..... on the facts and in the circumstances of the case and having regard to rule 6dd(j) of the income-tax rules, 1962, the tribunal was right in confirming the disallowance of rs. 65,500 under section 40a(3) of the income-tax act, 1961 ?' 2. the assessee carries on business of manufacture and sale of tea as well as money- ..... the amount of rs. 65,500 should be disallowed in view of the provisions of section 40a(3) of the act of 1961. this amount has been disallowed by the assessing officer, the commissioner of income-tax (appeals) as well as by the tribunal on a finding that he has not shown the compelling circumstances under which ..... lending business. for the assessment year 1977-78, the assessment was completed under section 143(3) read with section 144b on september 5, 1980. the total income assessed at rs. 8,17,260. ..... 1. on an application under section 256(2) of the income-tax act. 1961, the tribunal has referred the following questions for our opinion :'1. whether, on the facts and in the circumstances of the case, the tribunal .....

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