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Judgment Search Results Home > Cases Phrase: income tax act Court: kolkata Year: 2003 Page 1 of about 163 results (0.063 seconds)

Apr 24 2003 (HC)

Golam Momen Vs. Assistant Commissioner of Income-tax and ors.

Court : Kolkata

Decided on : Apr-24-2003

Reported in : (2003)185CTR(Cal)78,[2003]263ITR69(Cal)

..... is quoted below (page 574) :'this course was not at all permissible as it is an admitted position that, under the provisions of the income-tax act, while raising a demand for recovery, the concerned assessee has to be issued a notice and it is only after hearing him that an appropriate ..... such notice is only to inform the assessee that the amount has been recovered by virtue of a proceeding under section 226(3) of the income-tax act. he thus prays for dismissal of this writ application.20. the first question that falls for determination in this writ application is whether the ..... any competent authority and the stay petition filed by the petitioner had nothing to do with recovery proceedings initiated under section 226(3) of the income-tax act. by the said letter the bank was requested to make payment of the amount lying to the credit of the petitioner forthwith.11. being ..... by mr. bhattacherjee is that without serving a notice under section 226(3)(iii) of the income-tax act upon the assessee, the income-tax authority cannot recover any amount by taking aid of section 226(3) of theincome-tax act. mr. bhattacherjee contends that in this case till date, the petitioner has not been served ..... by this writ application, the writ petitioner has prayed for setting aside notice dated january 16, 2003, under section 226(3) of the income-tax act, 1961 (the 'act'), issued by respondent no. 1 for realisation of the demanded amount from the different persons who are holding money for or on account of .....

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Dec 05 2003 (HC)

Commissioner of Income-tax Vs. Indra Co. Ltd.

Court : Kolkata

Decided on : Dec-05-2003

Reported in : (2004)190CTR(Cal)625,[2004]268ITR240(Cal)

..... impugned order was passed dismissing the appeal.6. heard mr. saha, learned counsel for the revenue-appellant, who relied on sections 22 and 23 of the income-tax act, 1961, and contended that the computation of income from the house property in such case should be made taking into consideration the annual rent actually received in respect of the said house property itself. reliance ..... case of mrs. sheila kaushish v. cit : [1981]131itr435(sc) . it has also been pointed out that the provisions of law applicable in respect of the concerned assessment year ..... portions of such property as he may occupy for the purposes of any business or profession carried on by him the profits of which are chargeable to income-tax, shall be chargeable to income-tax under the head 'income from house property'.'the relevant portion of section 23 is as follows :'23. (1) for the purposes of section 22, the annual value of any property ..... also placed on the judgment in the case of cit v. kishanlal and sons (udyog) pvt. ltd. : [2003]260itr481(cal) . 7. mr. j. p. khaitan, learned counsel for the assessee-respondent, relied on the findings of the tribunal as also the provisions of law particularly as contained in section 23 of the income-tax act, 1961. he also relied on the judgment in the .....

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Dec 05 2003 (HC)

Sri Hanuman Sugar and Industries Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Dec-05-2003

Reported in : (2004)187CTR(Cal)455,[2004]266ITR106(Cal)

..... aloke chakrabarti, j.1. this appeal was filed under section 260a of the income-tax act, 1961, against the judgment and order of the income-tax appellate tribunal in respect of the three assessment years, namely, 1978-79, 1979-80 and 1981-82.2. the facts relevant for ..... argued by the revenue in the present appeal. with regard to such principle of res judicata, we find that the said principle does not apply in income-tax matters but for coming to separate conclusion in two different years, there must be separate facts leading to such different conclusion. on identical facts separate ..... lease deed, no different finding can be reached. it is contended that though the principle of res judicata strictly does not apply in respect of income-tax matters and each assessment year has to be treated as a separate unit once an assessment officer comes to a finding in respect of the facts ..... the assessee has been rejected and the said lease rent income has been treated by the income-tax authorities as income from other sources. similar finding was recorded for the assessment years 1979-80 and 1981-82.4. in respect of the assessment ..... of each assessment year, the lease rent received by the petitioner was shown by it under the head 'profits and gains of business'. the income-tax authorities accepted the said income under the said head from the assessment year 1969-70 till 1977-78. but for the assessment year 1978-79, the said contention of .....

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Nov 20 2003 (HC)

B.S.L. Ltd. (Formerly Bhilwara Synthetics Co. Ltd.) Vs. Commissioner o ...

Court : Kolkata

Decided on : Nov-20-2003

Reported in : (2004)191CTR(Cal)121,[2004]267ITR754(Cal)

..... the addition made by the assessing officer.5. being aggrieved, the assessee filed the present appeal under section 260a of the income-tax act, 1961, which was admitted on january 22, 2001, on the following question :'whether the expenses incurred by a company for ..... , the said expenditure has to be treated as capital expenditure holding the assessee entitled to deletion of the said amount as decided by the commissioner of income-tax (appeals).10 mr. mallick, learned counsel for the revenue, contended that the expenditure for public issue of shares to increase capital, is capital expenditure ..... expenditure was directed to be deleted and the appeal was thus allowed.4. the revenue preferred an appeal against the said order before the income-tax appellate tribunal which by its order dated june 1, 2000, held that the said expenditure was capital in nature and, therefore, allowed the ..... july 30, 1992, again held that the expenses were capital in nature.3. further appeal was preferred by the assessee before the commissioner of income-tax (appeals) and therein it was held that the expenses so incurred were revenue expenditure and, therefore, addition made by the assessing officer to the ..... dated june 29, 1990, disallowed the said expenditure holding the same to be capital expenditure. the assessee preferred an appeal before the commissioner of income-tax (appeals), who by order dated december 30, 1991, remanded the matter with a direction to examine the order of the controller of capital issues .....

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Jan 16 2003 (HC)

Kanoi Industries P. Ltd. Vs. Assistant Commissioner of Income-tax

Court : Kolkata

Decided on : Jan-16-2003

Reported in : (2003)182CTR(Cal)427,[2003]261ITR488(Cal)

..... . learned counsel for the appellant points out that this appeal involves a substantial question of law. there cannot be any computation of interest payable under section 201(1a) of the income-tax act, 1961, until there has been a deduction inasmuch as unless there is a deduction, there is no question of actual payment and unless there is an actual payment and the ..... it is actually paid. under section 202, deduction is only one of the modes of recovery of tax. the person from whose income the tax is deducted is an assessee. if an assessee is in default, various modes of recovery have been provided for in the act itself. a legal fiction is created under section 201 by a deeming clause that the person liable ..... to deduct shall be the 'assessee in default'. section 206 makes the person responsible for deducting tax to furnish ..... ), it was held that a proceeding under section 201 could be initiated and continued and interest thereunder could be recovered from the employer even where the assessee fails to deduct income-tax at source under section 192 from furlough pay payable in terms of the contract of service paid to an expatriate officer of the assessee in sterling in the uk outside .....

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Jan 29 2003 (HC)

Commissioner of Income-tax Vs. Chemcrown (India) Ltd.

Court : Kolkata

Decided on : Jan-29-2003

Reported in : [2003]262ITR177(Cal)

..... of entertainment expenditure disallowable under section 37(2a) of the income-tax act ?'r. a. no. 574 (cal) of 1997 :'whether, on the facts and in the circumstances of the case, the tribunal correctly ..... two questions have since been referred to this court in this reference case under section 256(1) of the income-tax act, 1961, namely : --r. a. no. 590 (cal) of 1997 :'whether, on the facts and in the circumstances of the case, the learned income-tax appellate tribunal was justified in law in holding that part of sales promotion expenses or sales seminar expenses of ..... ]191itr674(cal) without notice to the extended meaning of the word 'entertainment expenditure' declared in the newly inserted explanation 2 by the finance act, 1983, with retrospective effect from april 1, 1976. the andhra pradesh high court in cit v. andhra sugars ltd. : [1997]225itr118(ap) , had taken a similar view with regard to expenses incurred on food and beverages provided ..... rs. 2,03,846 including, inter alia, on account of supply of food and drinks to employees and customers, was business expenditure and an allowable deduction from the assessee's business income and not in the nature .....

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Mar 25 2003 (HC)

Commissioner of Income-tax Vs. General Industrial Society Ltd.

Court : Kolkata

Decided on : Mar-25-2003

Reported in : (2003)183CTR(Cal)67,[2003]262ITR1(Cal)

..... a capital asset.10. if it was a capital asset then it had to be dealt with under the provisions of sections 45 to 55 of the income-tax act, 1961. once it was chargeable under section 45, it had to be computed according to section 48, 49 or 50, as the case may be. ..... of the amount, thus received under the head 'capital gains' ?'3. the tribunal had refused to state the case under section 256(1) of the income-tax act, 1961. an application under section 256(2)was preferred before this court. the learned division bench of this court had directed the tribunal to draw up a ..... in holding that the receipt of rs. 10 lakhs cannot be brought to tax as business profit ?(ii) without prejudice to question no. 1 above, whether, on the facts ..... not and had exempted the amount from being taxed.2. the revenue had sought for reference on two questions, which are as follows :'(i) whether, on the facts and in the circumstances of the case, and on correct interpretation of section 28(iv) of the income-tax act, 1961, the tribunal was justified in law ..... to agree with the contention of mr. saha, who, in reply, relied on the decision in jeewanlal (1929) ltd. v. cit : [1983]139itr865(cal) . the said decision deals with an income received in the course of business, namely, that the assessee therein was carrying on business in exporting aluminium goods. a scheme was .....

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Apr 29 2003 (HC)

Commissioner of Income-tax Vs. Magnum Export (P) Ltd.

Court : Kolkata

Decided on : Apr-29-2003

Reported in : (2003)183CTR(Cal)75,[2003]262ITR10(Cal)

..... , learned counsel for the revenue, in his usual fairness, has pointed out with regard to question no. 2 that section 28(iiia) of the income-tax act, 1961, has no manner of application in the present case. in fact, we find from the records that the receipt, which was sought to be brought within ..... d.k. seth, j.1. the following four questions have since been referred before this court under section 256(1) of the income-tax act, 1961 :'(1) whether, on the facts and in the circumstances of the case, the tribunal was right in law in holding that ..... the sale proceeds of rs. 7,25,854 received by the assessee on the sale of the export licence represented capital receipt and was exempt from income-tax ? (2) whether, on the facts and in the circumstances of the case, the tribunal was right in law in holding that the provisions of section ..... have been calculated within the method of computation provided thereunder since the cost of acquisition was unascertainable. we had occasion to deal with such question in income-tax reference no. 36 of 1998 (cit v. general industrial society ltd. : [2003]262itr1(cal) ) disposed of by us on march 25, 2003. therefore, the receipt on ..... defined in section 2(24). the income is a genus. all receipts are income and chargeable to tax according to the heads under which such receipts become chargeable. the charging heads have been distinctly specified in the act in six different categories. an income, unless it comes under a particular head, cannot be charged. if a .....

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Jan 13 2003 (HC)

Unit Construction Co. Ltd. Vs. Joint Commissioner of Income-tax

Court : Kolkata

Decided on : Jan-13-2003

Reported in : (2003)181CTR(Cal)82,[2003]260ITR189(Cal)

..... 1998crilj1905 . 3. in our view, it is not necessary that the books of account are to be rejected. inasmuch as, section 68 of the income-tax act, essentially contains a deeming provision, which applies when the assessee's explanation is rejected. section 68 does not imply that the books of account are to ..... or are not supported by proper vouchers or that no reliance can be placed on the books of account. sections 69 and 69b, the income-tax act, make it clear that if the amount is not recorded in the books of account, even then it can be explained. but if the ..... produced by the assessee, are to be accepted. having regard to the provisions contained in sections 69 and 69b of the income-tax act, 1961, he relied upon the decision reported in cit v. pratapsingh amrosingh rajendra singh and deepak kumar of the rajasthan high court. in the said decision, it was held ..... inference that the receipts are of an assessable nature. a. govindarajulu mudaliar v. cit : [1958]34itr807(sc) . the presumption arising under section 132(4a) of the income-tax act, does not override or exclude section 68 of the income-taxact. it does not obviate the necessity to establish by independent evidence, the genuineness ..... . 4. according to counsel for the assessee, in this case there are materials to show that the explanation was satisfactory. nowhere had the income-tax officer recorded his observation that either the books of account are not reliable or that he was not satisfied with the explanation given. therefore, .....

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Jan 14 2003 (HC)

Durga Kamal Rice Mills Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Jan-14-2003

Reported in : (2003)182CTR(Cal)546,[2003]260ITR269(Cal)

..... claimed.3. the other defence was that a revised return filed by one of the partners of the assessee was accepted under section 143(1) of the income-tax act, 1961. but this return was filed in march, 1989. whereas the assessment of the assessee was completed on march 28, 1989.4. learned counsel for ..... further contended that the partners of the assessee had submitted revised return. the same has been accepted under section 143(1) of the income-tax act. therefore, the same amount cannot be taxed twice; once at the hands of the assessee and again at the hands of the partners of the assessee. in support of this ..... principle that the closing balance of the accounting year shall be the opening balance of the next year. on the facts available, the decisions of the income-tax officer, commissioner of income-tax (appeals) and the appellate tribunal are justified and legal and call for no interference.2. on a survey under section 133a on january 12, ..... pages 35-36 of the paper book, it appears the assessee did not take this stand even in its letter dated march 6, 1989, before the income-tax officer that the assessee is not liable to explain the difference. it was for the first time such a stand was taken before the tribunal. but ..... reflected in the books of account for the next year 1987-88 and as such if section 68 of the act is applied, in that event, the income can be treated to be the income of the next year not of the previous year, which is concerned in this case.5. this contention seems to .....

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