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Judgment Search Results Home > Cases Phrase: income tax act Court: kolkata Year: 2001 Page 3 of about 112 results (0.095 seconds)

May 07 2001 (HC)

Commissioner of Income-tax Vs. Anamika Builders Pvt. Ltd.

Court : Kolkata

Decided on : May-07-2001

Reported in : (2001)170CTR(Cal)136,[2001]251ITR585(Cal),[2001]117TAXMAN356(Cal)

..... view has been taken on the basis of the material on record it cannot be said that there is apparent mistake, which can becorrected under section 254(2) of the income-tax act, 1961. the tribunal has considered in detail in its original order dated september 7, 1989, that after taking lease of the site the assessee has constructed the building and given ..... any mistake apparent from the records within the meaning of section 254(2) of the income-tax act, 1961, and whether the tribunal was justified in holding that the income arising out of the unsold flats should be assessed as business income and not as income from house property ?2. whether, on the facts and in the circumstances of the case, the order ..... 1. heard learned counsel for the revenue. none appears for the assessee.2. on an application under section 256(2) of the income-tax act, 1961, the tribunal was directed to refer the following questions for the opinion of this court.'1. whether, on the facts and in the circumstances of the case, there was ..... tribunal under section 254(2) of the income-tax act, 1961, is sustainable in law ?'3. the aforesaid questions have been referred for the opinion of this court.4. the assessee-company received rental income of rs. 36,000 from unsold flats. the assessing officer taxed the same as income from house property, though the assessee claimed this income as income from business. in the original order, the .....

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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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May 18 2001 (HC)

Nicco Corporation Ltd. Vs. Commissioner of Income-tax and ors.

Court : Kolkata

Decided on : May-18-2001

Reported in : (2001)171CTR(Cal)501,[2001]251ITR791(Cal)

..... advert to the explanation for delay or to decide the same then it is failure of exercise of jurisdiction. the proviso to sub-section (3) of section 264 of the income-tax act provides as follows :'provided that the commissioner may, if he is satisfied that the assessee was prevented by sufficient cause from making the application within that period, admit an application ..... is erroneous on the face of it as the petitioner could not possibly make this application till the commissioner of income-tax (appeals) decided this point on march 15, 1984.9. he further contends that section 264 of the income-tax act empowers the commissioner of income-tax to revise an order of assessment for the benefit of the assessee. he should not have dismissed the application ..... . by this writ petition, the petitioner challenged the order dated december 9/15, 1993, passed by the commissioner of income-tax, central-i, calcutta, being respondent no. 1, whereby and whereunder the revision application of the petitioner-assessee under section 264 of the income-tax act, 1961, for allowing deduction of excise duty demanded for payment for manufacturing 'hot rolled rods' during the previous years ..... ]95itr147(ap) , it has been held that (head note): 'it is incumbent on the commissioner under section 33a(2) of the indian income-tax act, 1922, when an application for condonation of delay is made, to consider whether a sufficient cause has been made out by the petitioner for condonation of delay'. it has been .....

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May 22 2001 (HC)

Paharpur Cooling Towers Pvt. Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : May-22-2001

Reported in : (2001)169CTR(Cal)303,[2001]252ITR48(Cal)

..... order dated may 25, 1977, passed under section 210 of the income-tax act, 1961, is valid in law ? 3. whether in arriving at the conclusion and finding the tribunal has ignored any relevant material or has relied on irrelevant material and whether such ..... before this court was that the assessee-company carried on the business of manufacture and sale of sugar. the asses see-company paid advance tax as per demand in the notice under section 210 of the income-tax act, on an income of rs. 5.44 lakhs. the last instalment was paid on january 15, 1971. on account of valuation of the closing stock, huge ..... at page 7, for the opinion of this court :'1. whether, on the facts and in the circumstances of the case, the estimate of advance tax filed by the assessee under section 212(3a) of the income-tax act, 1961, filed on december 15, 1977, is a valid estimate in law ? 2. whether, on the facts and in the circumstances of the case, the ..... profits arose and the assessment was completed on the income of rs. 26.50 lakhs. inter alia, the question before their lordships was whether there was .....

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Jun 20 2001 (HC)

Star Paper Mills Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Jun-20-2001

Reported in : [2001]252ITR337(Cal)

..... 82 and 83 of the forest act, the madhya pradesh high court has held in the case of dulichand agarwal ' v. state of m ..... of the supreme court reported in gorelal dubey v. cit : [2001]248itr3(sc) . their lordships in para. 3 observed that the constitution bench judgment in india cement ltd.'s case : [1991]188itr690(sc) lays down the law, namely, that royalty is tax, and it is a tax for all purposes including section 43b of the income-tax act, 1961. 20. while considering the provisions of sections ..... y.r. meena, j. 1. on an application under section 256(1) of the income-tax act, 1961, the tribunal has referred the following questions set out at pages 1 and 2 of the paper book : '1. whether, the tribunal was right in holding that the additional ..... . p. [1980] mplj 465, that section 82 of the forest act as substituted by the madhya pradesh act no. 9 of 1965 creates a .....

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Jun 19 2001 (HC)

Commissioner of Income-tax Vs. Bijay Iron Stores

Court : Kolkata

Decided on : Jun-19-2001

Reported in : [2001]252ITR408(Cal)

..... the department from the responsibility of proving mens rea and it is not sufficient to levy penalty under section 271(1)(c) of the income-tax act, 1961 ?'2. the relevant assessment year is 1984-85. the assessee-firm consists of two partners and it is carrying on business ..... referred to the decision of this court in the case of girdharilal soni : [1989]179itr111(cal) , and cancelled the penalty sustained by the commissioner of income-tax (appeals).11. we have noticed that the tribunal has simply followed the decision of this court in girdharilal soni's case : [1989]179itr111(cal) ..... the income-tax act, 1961, the tribunal has referred the following question, set out at pages 11 and 12 of the paper book, for our opinion :'whether, on the facts and in the circumstances of the case, the tribunal was correct in holding that prima facie evidence of non-disclosure of income does ..... purpose of section 271(1)(c) of the act. the basis of addition of income is some papers found at the time of search. the author of those papers a son of one of the partners has admitted in the statement before the income-tax officer that he had prepared those papers, which ..... act. after that amendment in the explanation, when there was addition on the admission of one of the partners or the person who keeps the account the addition will be deemed income for the purpose of penalty. the tribunal has wrongly cancelled the penalty imposed by the assessing officer.9. while sustaining the penalty the commissioner of income-tax .....

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Jun 21 2001 (HC)

Straw Products Limited Vs. Assistant Commissioner of Income-tax and an ...

Court : Kolkata

Decided on : Jun-21-2001

Reported in : [2001]252ITR444(Cal)

..... ltd. : [1993]201itr884(cal) . so far as the second point is concerned, he contended that the order is available retrospectively in view of the amendment of section 32a of the income-tax act, on the basis of the modification of conditions for grant of development rebate and investment allowance as per : [1990]182itr222(cal) , read with page 336-337. in respect of point ..... which the show-cause notice under section 263 of the income-tax act, was issued, learned counsel for the petitioner submits that the first point is hit by the ratio on the judgment of the division bench of this court that the commission ..... ]208itr863(cal) , it is stated that the jurisdiction of this court under article 226 to entertain the show-cause notice under section 263 of the income-tax act, 1961, is only upon the following circumstances and this case is falling within the same as provided therein (head-note) :'1. when the show-cause notice ex facie or on ..... has no other alternative but to concede to this point since the same is available under the explanation as given in section 263 of the income-tax act, 1961, itself. therefore, the order is not a valid one in law and cannot be sustained. hence, the same should set aside.3. in respect of the three points on .....

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Jul 05 2001 (HC)

Keshab Narayan Banerjee Vs. Commissioner of Income-tax and ors.

Court : Kolkata

Decided on : Jul-05-2001

Reported in : [2001]252ITR888(Cal)

..... under section 117. section 117 provides for appointment of different authorities under the income-tax act which runs as follows :'117. appointment of income-tax authorities.--(1) the central government may appoint as many directors of inspection, commissioners of income-tax, commissioners of income-tax (appeals), additional commissioners of income-tax, appellate or inspecting assistant commissioners of income-tax and income-tax officers of class i service, as it thinks fit.(2) the commissioner may ..... the proceeding he will be entitled to take all the points. be that as it may, objection to the assessment made under sub-section (5) of section 132 of the income-tax act can very well be challenged even in the proceeding under section 263. in either case, the commissioner has to refer the matter back to the assessing officer for fresh assessment ..... the best of his judgment on the basis of such materials as are available with him ;(ii) calculating the amount of tax on the income so estimated in accordance with the provisions of the indian income-tax act, 1922 (11 of 1922), or this act ;(iia) determining the amount of interest payable and the amount of penalty imposable in accordance with the provisions of the indian .....

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Jun 22 2001 (HC)

Sanjay Kumar JaIn Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Jun-22-2001

Reported in : [2002]254ITR38(Cal)

..... petition is maintainable. now this court should not direct the tribunal for referring the questions proposed in the application under section 256(2) of the income-tax act.5. after rejection of the special leave petition whether the order of this court dated april 2, 1998, merges with the order of the ..... assessee deals in jute goods and real estate business. there was a search carried out by the income-tax department in august, 1995, at the residence and office of the petitioner under section 132 of the income-tax act, 1961. during the search the department has seized various documents, which includes identifying as gnp ..... 54,000 was part of the peak credit. that was not accepted by the income-tax authorities and/or by the tribunal. this court rejected the application filed by the assessee under section 256(2) of the income-tax act. the special leave petition was filed by the assessee was also rejected.3. heard ..... ]245itr360(sc) . he further submits that peak of the cash credits found in gnp 1, 2 and 3 was taken for the purpose of income-tax. the entries amount of rs. 41,54,000 found in the gnp 15 should not be ignored as that was unaccounted money before the period ..... 1, 2 and 3 and gnp 15. during the course of the investigation, the assessee has admitted that the transaction in gnp 1, 2 and 3 and also gnp 15 were not there but those were the entries of undisclosed income .....

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Jul 13 2001 (HC)

Commissioner of Income-tax Vs. Grindlays Bank Plc

Court : Kolkata

Decided on : Jul-13-2001

Reported in : [2002]254ITR289(Cal)

..... deductible under section 20(l)(i) of the income-tax act ?'2. the assessee is a banking company within the ..... meaning of the banking regulation act and is incorporated under the laws of the united kingdom ..... 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 income-tax appellate tribunal is correct in law in upholding the order of the commissioner of income-tax (appeals) in respect of disallowance under section 40a(5) of the income-tax act, excluding the proportionate expenses ..... . in the return filed on december 31, 1976, the assessee has declared the income of rs. 12,25,99,190. the assessment year .....

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