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Judgment Search Results Home > Cases Phrase: income tax act Sorted by: old Court: income tax appellate tribunal itat kolkata Year: 1985 Page 1 of about 34 results (0.057 seconds)

Jan 21 1985 (TRI)

Shankar Ghosh Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Kolkata

Decided on : Jan-21-1985

Reported in : (1985)13ITD440(Kol.)

..... that the assessment order for the year 1973-74 was originally made under section 143(3) of the income-tax act, 1961 ('the act'), but the same was set aside by the commissioner under section 264 of the act on 20-3-1980. the commissioner set aside the original assessment which held that the assessee was owning benami ..... the fact that the assessee advanced a loan and did not make an outright contribution has been accepted both in the income-tax and wealth-tax files of smt. uttara devi as well as the wealth-tax file of the assessee.10. we have considered the contentions of both the parties as well as the facts on ..... the one-third owner of the entire property and the commissioner (appeals) erred in reducing the interest of the assessee to one-third portion of the income attributable to the land alone. in this connection, he took us through the common grounds of appeal taken in the six departmental appeals. all these grounds ..... assessee became one-third owner of the entire property because of sections 61 and 63(b) of the act. he urged that the arrangement made by the assessee amounted to a transfer and so the income diverted by that transfer is assessable in the hands of the assessee by virtue of section 64 of ..... the act. in this connection, he relied on the decision in the case of s.p. jaiswal v.cit [1981] 130 itr 643 (punj. & har.). in .....

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Jan 23 1985 (TRI)

Mcdonnell (1948) (P.) Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Kolkata

Decided on : Jan-23-1985

Reported in : (1985)14ITD6(Kol.)

..... that the order of the commissioner as passed under section 263 of the income-tax act, 1961 ('the act') is bad in law and not supported by facts or circumstances of the case and that the commissioner did not legally act in initiating the proceedings under section 263 on the basis of the objection raised ..... under section 263, whereas in the above decided case, the issue was under section 25(1) of the wealth-tax act, 1957 ('the 1957 act') which is corresponding to section 264 of the 1961 act. it is submitted, therefore, that the reliance made by the assessee on the above decision may not be taken ..... nature. that apart, he pointed out that there was allowance for running expenses of the motor car which was considered unjustified as the assessee had income from leasehold property. the commissioner noted that it was on these two grounds that action under section 263 was initiated.3. the assessee complied with ..... the commissioner to record 'information' or to indicate what was the source of information, before he acts under section 263.we may refer to the decision of the hon'ble supreme court in the case of cit v. electro house [1971] 82 itr 824. that apart, the provisions of section 263 are ..... into cognizance of. it is also stated that in that decided case, the application of the assessee for revision praying for relief to be given, was rejected by the commissioner of wealth-tax .....

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Jan 28 1985 (TRI)

Surendra Nath Malhotra (Huf) Vs. Gift-tax Officer

Court : Income Tax Appellate Tribunal ITAT Kolkata

Decided on : Jan-28-1985

Reported in : (1985)13ITD499(Kol.)

..... the partial partition effected on 9-9-1971 and in respect whereof an order had also been passed by the ito under section 171 of the income-tax act, 1961 ('the 1961 act'), the property worth lakhs of rupees was left with the bigger-huf of shri h.l. malhotra.4. on 11-10-1974, the karta of ..... three daughters.2. the assessee is a huf. for the assessment year 1975-76, the gto issued a notice under section 16(1) of the gift-tax act, 1958 ('the act'). in response to that notice the assessee filed a return of gifts disclosing the value of gifts at rs. 3 lakhs. the assessee, however, claimed that ..... that without prejudice to the above, the learned commissioner (appeals) erred in not adjudicating on ground no. 3 relating to misapplication of section 6a of the gift-tax act, 1958, on the facts and in the circumstances of this case.the above ground does not arise out of the order of the commissioner (appeals). the assessee ..... 53,225 or any part thereof, have been rightly included in the 'net wealth' of the applicant under section 4(1)(a)(iii) of the wealth-tax act 38. it was held by their lordships that there was nothing which the minor daughters had done in return for the creation of the said trust by the ..... contended that it would be a case of deemed gift either under clause (a) or clause (b) of section 4(1) of the wealth-tax act, 1957 ('the 1957 act'), as the expenses required to be incurred on the education of the three daughters would be much less than the amount of money transferred to them.17 .....

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Feb 05 1985 (TRI)

income-tax Officer Vs. Gopalpur Tea Co. Ltd.

Court : Income Tax Appellate Tribunal ITAT Kolkata

Decided on : Feb-05-1985

Reported in : (1985)12ITD259(Kol.)

..... 4,07,776 paid by the assessee was not deductible in terms of section 34 of the payment of bonus (amendment) act, 1977, and section 36(1)(ii) of the income-tax act, 1961 ('the act'). he, therefore, disallowed this claim.2. on appeal before the commissioner (appeals), the assessee relied upon the decision of the ..... referred to section 31a and stated that the additional payment was made under section 31a of the payment of bonus act, 1965 and, therefore, it was allowable under section 36(1)(ii) of the income-tax act.8. the controversy about the allowability of the additional bonus of rs. 4,07,776 paid at the ..... as under: (1) the deductions provided for in the following clauses shall be allowed in respect of the matters dealt with therein, in computing the income referred to in section 28-- (ii) any sum paid to an employee as bonus or commission for services rendered, where such sum would not have ..... the employees. the extra amount paid, therefore, was in the business interest of the assessee and was rightly held as allowable in computing the business income of the assessee on grounds of commercial expediency in terms of section 37(1). section 36(1)(ii) did not come into play as the ..... all workmen. the ito disallowed the incentive bonus as, according to him, the amount paid was in excess of the admissible amount under the payment of bonus act. he, accordingly, disallowed the excess which came to rs. 36,826. the commissioner (appeals) held that the excess amount paid was in fact 'incentive .....

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Feb 06 1985 (TRI)

Asimnath Roy Chowdhury Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Kolkata

Decided on : Feb-06-1985

Reported in : (1985)13ITD351(Kol.)

..... well as share of profit. the firm was a registered firm. the assessee claimed standard deduction under section 16(i) of the income-tax act, 1961 ('the act') against the salary income. the ito has not discussed on this issue.2. the assessee came in appeal before the aac and contended that he was entitled ..... supra). the hon'ble supreme court has observed as follows: a firm is not a legal person even though it has some attributes of personality. in income-tax law a firm is a unit of assessment, by special provisions, but is not a full person. since a contract of employment requires two distinct persons ..... were getting the fixed salary or they indicated that the salary received by them shall be debited to establishment will not change the character of the income which the partner was receiving. the partner was only entitled to profit of the firm. he may get in the shape of interest, commission, ..... the clauses of the partnership deed and referring to sections 40(b) and 67(a) and (b) of the act, he urged that the salary earned by the assessee may be the income of the firm, but it is always in the nature of salary to the partner, and, therefore, the assessee ..... was eligible for standard deduction. he, for this purpose, relied on the decision of the bombay bench of the tribunal in mohamad ibrahim shahdad's case (supra) and the decision of the jaipur bench in chhitermal goyal v. ito [1984] tax .....

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Feb 15 1985 (TRI)

Hanumanmall Bengani Vs. Appellate Controller of Estate

Court : Income Tax Appellate Tribunal ITAT Kolkata

Decided on : Feb-15-1985

Reported in : (1985)12ITD37(Kol.)

..... 1. the president under section 63(11) of the estate duty act, 1953, read with section 5a(7) of the indian income-tax act, 1922, has referred the following question for the decision of the third member : whether the multiple to be adopted for the purpose of ..... of a property.therefore, those cases can at best be taken as a guide for determining the yield which could be taken while capitalizing the net rental income of the property.8. therefore, after considering the arguments of the respective parties, case law and the yield prevailing on the various investments, it appears that ..... patevs case {supra). he also referred to the commentary of the learned author, c.a. gulanikar, at page 2.66 of law & practice of gift-tax & wealth-tax, 1984 edition. he further urged that assistance could also be taken from the decision in smt. shanti devi's case {supra). the counsel further stated that if ..... the present case following the special bench decision in biju patnaik v. wto [1983] 3 itd 693 (delhi) (sb) under rule ibb of the wealth-tax rules, 1957. as both the learned members did not agree to a common factor for capitalizing the net rent, the issue has been referred by the president ..... . shanti devi air 1983 sc 1190. he, accordingly, decided that the multiple of 8.5 times should be applied. he also referred to the decision in cit v. smt.vimlaben bhagwandas patel [1979] 118 itr 134 (guj.). the learned judicial member after commenting upon the order of the accountant member and the cases upon .....

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Feb 23 1985 (TRI)

inspecting Assistant Vs. Goodricke Group Ltd.

Court : Income Tax Appellate Tribunal ITAT Kolkata

Decided on : Feb-23-1985

Reported in : (1985)12ITD1(Kol.)

..... power to review its order. however, according to him, the tribunal has not reviewed its order. it has exercised its power of rectification under section 254(2) of the income-tax act, 1961 ('the act'), judicially. it is pointed out that it is shri bagchi, who is asking the special bench to review the rectifying order dated 29-3-1982 of the bench and ..... finding that provisions of section 44c were not applicable in the instant case and in that view in directing the assessing officer to recompute the total income by excluding disallowance made under section 44c of the income-tax act, 1961.6. the assessee is a non-resident (sterling) company. its registered office is in london (uk). its activities are cultivation and manufacture of tea ..... similar situation had come up for consideration before the supreme court in the case of anglo-french textile co. ltd. v. cit [1953] 23 itr 82. the subject-matter of consideration was section 24(2) of the indian income-tax act, 1922 ('the 1922 act'). the expression, inter alia, used in that sub-section was "and the loss cannot be wholly set off under sub ..... . the provisions of section 44c being applicable from 1-6-1976 whereas the assessee's previous year is calendar year 1976, and being a tea company its income is liable to be taxed under the act to the extent of 40 per cent only, the assessee claimed that for the purpose of computing disallowance, assuming section 44c is applicable, the expenditure requiring consideration .....

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Mar 04 1985 (TRI)

Sailaja Kinkar Samanta Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Kolkata

Decided on : Mar-04-1985

Reported in : (1985)13ITD896(Kol.)

..... contention of the assessee on the reasoning that in terms of the first proviso to section 23(1) of the income-tax act, 1961 ('the act'), only taxes levied by the local authority were deducted and no further deduction could be allowed in anticipation of enhanced tax. the aac concurring with the finding of the ito dismissed the appeal.3. the learned counsel for the assessee ..... .determination of annual value is quasi-judicial act of the municipal authorities inasmuch as that the same is open to appeal before the court of general ..... causes under section 183 of the calcutta municipal act. after the annual value is determined, accordingly, the municipality determines the rate of ..... act does not and cannot amount to levy of tax. section 165 authorises the municipality to levy tax within the certain limits. it cannot be assumed that in each and every case, the municipality would adopt with maximum scale of rate.for levy of tax, certain procedure has been prescribed which is contained in section 172. it is not like self-assessment of income-tax .....

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Mar 04 1985 (TRI)

Boyd Smiths (P.) Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Kolkata

Decided on : Mar-04-1985

Reported in : (1985)13ITD610(Kol.)

..... for which the accounting year ended on 30-6-1977. the ito disallowed interest amounting to rs. 17,744 under section 40a(8) of the income-tax act, 1961 ('the act'). on appeal, the commissioner (appeals) following his decision on the issue for the assessment year 1977-78, sustained the disallowance. the first ground ..... be treated as a trading loss in the accounting year relevant to the assessment year under consideration. in associated banking corpn. of india ltd. v. cit [1965] 56 itr 1 (sc) the secretary of a bank withdrew rs. 18 lakhs by posting false entries in the books of the bank in ..... it should be allowed as a deduction this year. in support of this contention reliance has been placed on the decision of the allahabad high court in cit'v. u.b.s. publishers & distributors [1984] 147 itr 114.11. the learned departmental representative has, on the other hand, fully supported the ..... deposit' the language of explanation (b) would have been quite different. here it would be relevant to point out that in section 269t of the act, the word 'deposit' is defined as any deposit of money which is repayable after notice or repayable after a period. there a restrictive meaning has ..... be allowed to control the plain words of the section. these observations were made by their lordships while interpreting the provisions contained in section 52 of the act. while defining the word 'deposit' in explanation (b) the legislature has used the expression 'any deposit'. the word 'deposit' used in the definition .....

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Apr 18 1985 (TRI)

Arrah-sasaram Light Railway Co. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Kolkata

Decided on : Apr-18-1985

Reported in : (1985)14ITD399(Kol.)

..... resolved for members' voluntary winding up and two liquidators were appointed accordingly. it is stated that a notice under section 178 of the income-tax act, 1961 ('the act') was given to the ito who, however, did not respond. in the course of beneficial winding up of the affairs of the company ..... following grounds : (1) no valid assessment can be made in view of change of law to section 140(c). (2) the income-tax officer has not intimated anticipated tax liability under section 178(2). (3) the assessee contended, under the laws of the country, a company in liquidation has no affairs ..... in his directions under section 144a. the ito followed those directions as best as he could. following those directions the ito arrived at an income with a variation of more than rs. 1 lakh. in such circumstances, he clearly came within the purview of section 144b which directs him ..... introduced anew concept of issue of a draft order by the ito to the assessee setting forth additions proposed to be made to the returned income followed by consideration of assessee's objection and issue of directions by the iac. on the aforesaid examination of the provisions of the two sections ..... both the provisions cannot be independently applied in a given case, particularly when the latter section starts with the expression 'notwithstanding anything contained in this act'. the variation, in the instant case, having exceeded the limit of rs. 1 lakh, had the interpretation of the authorised representative been accepted .....

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