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Judgment Search Results Home > Cases Phrase: income tax act Sorted by: old Court: kolkata Year: 1985 Page 11 of about 140 results (0.138 seconds)

Oct 04 1985 (HC)

Assistant Controller of Estate Duty and ors. Vs. Mukundadas Nundy and ...

Court : Kolkata

Decided on : Oct-04-1985

Reported in : [1987]168ITR12(Cal)

..... show cause in writing why an order imposing penalty should not be made under section 73(5) of the estate duty act read with section 46(1) of the indian income-tax act, 1922. if you fail to avail yourself of this opportunity of being heard on the aforesaid date, i may be ..... probate of the will of the deceased. the proceedings were contested.6. on or about september 10, 1959, the assistant controller, estate duty-cum-income-tax circle, calcutta, issued a letter to the accountable persons. it was recorded in the said letter that interest on the outstanding estate duty would be ..... testament dated february 26, 1958, the accountable persons under the estate duty act, 1953, and the respondents herein, filed an account of the estate of the deceased before the assistant controller of estate duty, 'a' ward, estate duty-cum-income-tax circle, calcutta.2. by an order dated february 27, 1959, duty ..... 1972, the assistant controller rejected the contentions of the respondents and reiterated the demand. proceedings were thereafter initiated against the respondents under the public demands recovery act, being certificate case no. 98 ed/1972-73, were a notice dated june 13, 1973, was issued by the certificate officer, 24-parganas, ..... on the said estate was assessed at rs. 76,341.20 and it was further recorded as follows :'the court fees that will be paid for taking out the probate will be allowed under section 62 of the act after .....

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Nov 15 1985 (TRI)

Justice Anandamoy Bhattacharjee Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Kolkata

Decided on : Nov-15-1985

Reported in : (1986)81ITD181(Kol.)

..... under sub-section (2) of that section, shall not be included in the computation of his income chargeable under the head 'salaries' under section 15 of the income-tax act, 1961. exemption from liability to pay income-tax on certain perquisites received by a judge.-notwithstanding anything contained in the income-tax act, 1961 (43 of 1961), the value of rent-free official residence provided to a judge under ..... sub-section (1) of section 23 shall not be included in the computation of his income chargeable under the head 'salaries' under section 15 of the income-tax act, 1961.from these provisions, it is the learned departments representative argument, quite plain that income of the judge of the supreme court and the high courts is chargeable under the head 'salaries' under ..... such restrictions or modifications as he thinks fit to the state of sikkim any enactment which is in force in a state in india at the date of notification ; the income-tax act, 1961 ('the act') in terms of the said clause has not been extended to the state of sikkim and, as such, the ..... by him to section 22d of the high court judges (conditions of service) act, 1954 and section 23d of the supreme court judges (conditions of service) act, 1958 which read as under : exemptionfrom liability to pay income-tax on certain perquisites or allowance received by a judge.-notwithstanding anything contained in the income-tax act, 1961 (43 of 1961),- (a) the value of rent-free official residence .....

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Nov 19 1985 (HC)

Construction Machinery P. Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Nov-19-1985

Reported in : [1987]164ITR394(Cal)

..... the order of the tribunal for the opinion of this court:'1. whether the tribunal was right in law under section 40(c) of the income-tax act, 1961, to sustain the remuneration of shri atma singh at rs. 1,500 per month and rs. 1,000 to shri p. c. ..... subject to a minimum of rs. 5,000. in the assessment year in question, the income-tax officer while computing the taxable income of the assessee made an enquiry under section 10(4a) of the indian income-tax act, 1922, and disallowed deduction of a part of the remuneration paid to the managing director ..... per month on account of the remuneration paid to joginder singh and directed the income-tax officer to allow deduction of the said amount.10. on an application of the assessee under section 256(2) of the income-tax act, 1961, this court directed the tribunal to refer the following questions as questions ..... atma singh and prem chand bhalla were wholly disallowed.6. being aggrieved, the assessee preferred an appeal to the appellate assistant commissioner of income-tax. the appellate assistant commissioner held that the remuneration paid was excessive considering the business needs, the turnover and the financial status of the assessee ..... steel co. ltd., the associated cement companies ltd., etc., for which no special skill or experience was required. in computing the income of the assessee, the income-tax officer disallowed deduction of the remuneration paid to joginder singh wholly. of the remuneration paid to atma singh and prem chand bhalla, rs. .....

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Nov 20 1985 (HC)

Commissioner of Income-tax Vs. Steel Rolling Mills of Hindusthan (P.) ...

Court : Kolkata

Decided on : Nov-20-1985

Reported in : (1986)51CTR(Cal)386,[1987]164ITR633(Cal)

..... that the finding is perverse was not allowed by the tribunal. the revenue did not come up before this court under section 256(2) of the income-tax act, 1961, to have the said question referred. 16. the contention of the revenue that the assessee did not own the said assets also does not ..... sc) , it was also held that such cylinders would come within the ambit of the expression 'plant '. 12. the material part of section 33 of the income-tax act, 1961, which provides for development rebate reads as follows: 'section 33(1)(a) in respect of a new ship or new machinery or plant (other than ..... order of the appellate assistant commissioner and dismissed the appeal of the revenue. 7. on an application of the revenue under section 256(1) of the income-tax act, 1961, the following question has been referred by the tribunal as a question of law arising out of its order for the opinion of this court: ..... supreme court that the expression 'plant' was ofwide import and that the expression 'installed' in section 10(2)(vi) of the indian income-tax act, 1922, not only meant fixed in position but also used in the sense of inducted or introduced in a business. (b) ajodhya prasad tara chand khekra ..... ]82itr44(sc) , the supreme court considered the meaning of the expression 'plant' as occurring in section 10 of the indian income-tax act, 1922, which is in pari materia with section 33 of the act of 1961. the supreme court observed that it was the intention of the legislature to give the expression 'plant' a wide .....

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Dec 04 1985 (HC)

Universal Cargo Carriers Inc. Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Dec-04-1985

Reported in : (1986)52CTR(Cal)145,[1987]165ITR209(Cal)

..... particular year is determined and after which it can be carried forward.17. so far as depreciation is concerned, the income-tax act, 1961, provides for compensation of the same by an allowance. such allowance by itself is not a loss but if it cannot be absorbed in ..... of various expenses.'16. on a consideration of the relevant statutory provisions, it appears to us that business loss as contemplated in section 72 of the income-tax act, 1961, is the net result of a particular computation under the head 'profits and gains of business'. on such computation, business loss in a ..... in the circumstances of the case and on a correct interpretation of sections 72(1), 72(2), 72(3), 32(2) and 44b of the income-tax act, 1961, business loss attributable to unabsorbed depreciation as at the end of the accounting period relevant to the assessment year 1975-76 in the case of ..... the appeal of the revenue and rejected the appeals of the assessees.12. on an application of the assessees under section 256(1) of the income-tax act, 1961, the following question has been referred as a question of law arising out of the order of the tribunal for the opinion of this court ..... that the unabsorbed depreciation of the earlier years could be carried forward and set off only in the manner laid down by section 32(2) of the income-tax act, while section 72 dealt with other losses. the tribunal held that to give a harmonious construction to the provisions of the two sections, viz., 72 .....

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Dec 05 1985 (HC)

Commissioner of Income-tax Vs. Shinwa Kaium Kaisha Ltd.

Court : Kolkata

Decided on : Dec-05-1985

Reported in : [1987]165ITR270(Cal)

..... items in the world receipts. to the extent as aforesaid, the appeal of the revenue was rejected.6. on an application of the revenue under section 256(2) of the income-tax act, 1961, the tribunal, as directed by this court, has referred the following question as a question of law arising out of its order :' whether, on the facts and in the ..... same items in its world income in accordance with the provisions of the indian statute, it must have been held that the said items form part and parcel of ..... receipts. he directed the income-tax officer to recompute the indian income with reference to the world income afresh.5. being aggrieved, the revenue preferred an appeal before the income-tax appellate tribunal. it was held by the tribunal that the world shipping profits of the assessee has been worked out with reference to the provisions of the income-tax act, 1961, and if the income-tax officer has included the ..... . learned advocates for the parties reiterated the respective contentions made in the proceedings below. our attention was drawn to rule 10(ii) of the income-tax rules, 1962.8. it appears to us that the expression 'receipt' has not been defined in the act but the meaning of the expression 'receipt', in our view, has been made clear in various sections of the .....

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Dec 05 1985 (HC)

Burmah Oil Co. Ltd. Vs. Income-tax Officer and ors.

Court : Kolkata

Decided on : Dec-05-1985

Reported in : [1987]165ITR264(Cal)

..... at nil.2. the indian company, i.e., m/s. burmah-shell refineries ltd., was assessed under section 143(3) of the income-tax act, 1961, for the assessment year 1964-65 on march 26, 1969. in the said assessment, the said burmah-shell refineries limited was treated ..... of dividends from an indian company which is not such a company as is referred to in section 108 of the income-tax act and which is wholly or mainly engaged in the business of generation or distribution of electricity or of manufacture or production ..... resident company. it was assessed by the income-tax officer, central circle xxxi, on november 28, 1964, under section 143(1) of the income-tax act, 1961, for the assessment year 1964-65 (the accounting year ending march 31, 1964). from the assessment order, it appears that the income of the petitioner for the said assessment year ..... as a company in which public were not substantially interested within the meaning of section 2(18) of the said act. the income-tax officer who assessed the said burmah-shell refineries limited also held that the said company was not engaged in the business of manufacture or production ..... it is on record that the petitioner-company has made an application under section 154 of the said act for rectification of the assessment to enable the income-tax officer to grant the necessary refund. the income-tax officer concerned is directed to rectify the assessment and issue consequential refund to the petitioner-company in the .....

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Dec 06 1985 (TRI)

Sudha Devi Rampuria Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Kolkata

Decided on : Dec-06-1985

Reported in : (1986)15ITD744(Kol.)

..... 1. the assessee is in appeal against the order of the commissioner (appeals) under section 263 of the income-tax act, 1961 ('the act').the fact is that shri pradip kr. rampuria was doing business. he was a member of his huf. shri rampuria took a loan of rs. 6 lakhs and odd from ..... 80c 1,810.00 4,222.34 the return was filed on 30-3-1981 and the assessment was completed by the ito under section 143(1) of the act on the total income of rs. 4,220 on 2-9-1981.4. the commissioner took action on perusal of the record under section 263 on the ground that the assessee should ..... rampuria.3. smt. sudha devi rampuria filed her return for the assessment year 1978-79 showing the following income:biplabi rash behari basu rd., cal.1,47,394.51less: corporation tax 33,296.00multistoreyed property tax 1,752.00service charges 504.00surcharge on corporation tax 16,648.00 55,955.57bav 91,438.97less: one-sixth for repair 19,016.006 per cent collection ..... charges 6,845.00 25,861.00 65,577.97of firm's assessment) 10,745.26interest income from the above 11,474.5322,219 .....

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Dec 09 1985 (HC)

Basanta Ram Kedarnath Vs. Income-tax Officer

Court : Kolkata

Decided on : Dec-09-1985

Reported in : (1986)56CTR(Cal)344,[1987]165ITR777(Cal)

..... was alleged, after taking into consideration the aforesaid, completed the said assessment under section 143(3) of the income-tax act, 1961.9. it was alleged that in the facts and circumstances, the income-tax officer acted illegally and wrongly assumed jurisdiction under section 147 of the income-tax act, 1961, although the condition precedent for the assumption of such jurisdiction had not been satisfied.10. it ..... assessment year 1962-63, the accounting year ending on december 31, 1961, the appellant was assessed to income-tax under section 143(3) of the income-tax act, 1961. the order of assessment was made on march 18, 1967, when the income-tax officer computed the total income of the appellant at rs. 30,580 which was allocated to the partners of the appellant according to ..... on the part of the assessee to disclose fully and truly all materical facts necessary for his assessment, the total income was underassessed.'5. on january 2, 1971, the appellant received a notice under section 148 of the income-tax act issued by the said income-tax officer, 'g' ward, hundi circle, calcutta. it was stated in the said notice which was dated december ..... respect of the said loan and purported to assume jurisdiction under sections 147 and 148 of the income-tax act, 1961, on a mere change of opinion.19. it was alleged that the income-tax officer had issued similar notices under section 148 of the act in respect of earlier assessment years 1957-58 to 1960-61 which have been challenged and quashed .....

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Dec 09 1985 (HC)

Commissioner of Income-tax Vs. Russel Properties (P.) Ltd.

Court : Kolkata

Decided on : Dec-09-1985

Reported in : [1987]163ITR538(Cal)

..... in holding that there was no mistake apparent from the record within the meaning of section 154 of the income-tax act in the original assessment order passed by the income-tax officer and in that view in cancelling the order under section 154 of the income-tax act passed by the income-tax officer rectifying such mistake ?' 8. it appears that following the decision of the supreme court in ..... what he thought to be a mistake under section 154 of the income-tax act, 1961. deducting the original cost of land and building including the depreciable assets from the sale consideration received, he computed that there was a profit of rs. 29,359. he ..... . mafatlal, : [1962]45itr271(sc) . 12. for the reasons as aforesaid, we agree with the order of the tribunal rejecting the application of the revenue under section 256(1) of the income-tax act, 1961. 13. the rule nisi is discharged and the application is dismissed. 14. there will be no order as to costs. mukul gopal mukherji, j. 15. i agree. ..... gains relating to land and building was computed at rs. 71,919 and business profits under section 41(2) of the income-tax act, 1961, relating to depreciable assets were calculated at rs. 4,930. 5. after the original assessment was completed, the income-tax officer later took a view that the allocation of the total gain had not been made correctly. he, therefore, rectified .....

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