Skip to content


Judgment Search Results Home > Cases Phrase: income tax act Sorted by: old Court: kolkata Year: 1985 Page 4 of about 140 results (0.032 seconds)

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 .....

Tag this Judgment!

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 .....

Tag this Judgment!

Mar 11 1985 (HC)

Commissioner of Income-tax Vs. Bengal Assam Steamship Company Ltd.

Court : Kolkata

Decided on : Mar-11-1985

Reported in : (1985)49CTR(Cal)23,[1985]155ITR26(Cal)

..... off was a negative figure ? (2) whether, on the facts and in the circumstances of the case, the tribunal was correct in annulling the orders of the income-tax officer under section 154 of the income-tax act, 1961, in the view that there was no mistake apparent from the record in the earlier orders granting relief under sections 80l and 80m of the said ..... .'(1) whether, on the facts and in the circumstances of the case, and on a correct interpretation of section 80b(5), section 80a(2) and other relevant provisions of the income-tax act, 1961, the tribunal was correct in holding that setting off of the current year's losses and carried forward losses of the earlier years against the current year's ..... on a proper interpretation of section 2(45), section 80b(5) and section 80a(2) of the income-tax act, 1961, the tribunal was correct in holding that the deduction under section 80m of the said act should be calculated with reference to the total income and gross total income as they stood before setting off the losses under section 71 or section 72 of the ..... two sources (house property and dividends) and treating the resulting balance as the gross total income and also the total income of the assessee for the purpose of application of section 80m and section 80a(2) of the act. we, therefore, direct the income-tax officer to recompute the total income of the assessee by granting in the first instance, the deduction contemplated by section 80m .....

Tag this Judgment!

Mar 13 1985 (HC)

Mrs. Leela Nath Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Mar-13-1985

Reported in : [1987]164ITR216(Cal)

..... case of k.p. varghese v. ito : [1981]131itr597(sc) , where the supreme court has held that sub-section (2) of section 52 of the income-tax act, 1961, can be invoked only where the consideration for the transfer of a capital asset has been understated by the assessee, or, in other words, the full ..... court at the instance of the assessee :'whether, in the facts and circumstances of the case, reopening of the assessment under section 147(a) of the income-tax act is justified ?'7. dr. pal, learned counsel appearing for the assessee, has contended that in this case even assuming that there was any omission to ..... it is in the return for the subsequent assessment year 1960-61 under the wealth-tax act that the disclosure was made regarding the reduction in the holding ..... therefor. the contention raised before the income-tax authorities that the disclosure was made in the wealth-tax return is also without any substance. an assessee cannot be absolved from his obligation of disclosing the relevant fact under the income-tax act even if such disclosure was made under the wealth-tax act. the fact, however, remains that ..... ajit k. sengupta, j.1. this is a reference under section 256(1) of the income-tax act, 1961, at the instance of the assessee, for the assessment year 1959-60.2. during the accounting year relevant to the .....

Tag this Judgment!

Mar 20 1985 (HC)

Madhu Jayanti P. Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Mar-20-1985

Reported in : (1985)49CTR(Cal)1,[1985]154ITR277(Cal)

..... appeal 'as it thinks fit'. there is nothing in the income-tax act which restricts the tribunal to the determination of questions raised before the departmental authorities. all questions whether of law ..... the department and to direct an enquiry on such basis. (b) cit v. mahalakshmi textile mills ltd. : [1967]66itr710(sc) . in this case, a bench of the supreme court consisting of three learned judges observed as follows (p. 713) : 'under sub-section (4) of section 33 of the indian income-tax act, 1922, the appellate tribunal is competent to pass such orders on the ..... assessment year 1975-76, the corresponding previous year being the one ended on december 31, 1974, the assessee in its revised return for income-tax claimed weighted deduction for export markets development allowance under section 35b of the i.t. act, 1961, in respect of its export promotion expenses under the following four heads :(a) air freight on parcels for samples ; (b) commission ..... , the original appeal was in respect of the charging of interest under section 217 of the i.t. act, 1961. an additional ground of appeal was sought to be introduced later claiming that the assessee's income was exempt under section 11 or the act. (j) cit v. cellulose products of india ltd, : [1985]151itr499(guj) [fb]. in this case, the assessee had .....

Tag this Judgment!

Mar 25 1985 (HC)

Commissioner of Income-tax Vs. Gordhandas Jerambhai

Court : Kolkata

Decided on : Mar-25-1985

Reported in : [1985]154ITR288(Cal)

..... tribunal was justified in admitting the additional grounds raisedbefore it for claims under section 35b which were not made either before the income-tax officer or before the appellate assistant commissioner and in sending the matter back to the income-tax officer for examining the claims and passing necessary orders in accordance with law ?'6. we reframe the question referred to ..... claimed.3. against the order of the aac, the assessee preferred a further appeal to the income-tax appellate tribunal and, in the appeal, filed a petition to raise additional grounds of appeal claiming further weighted deduction under section 35b of the said act in respect of its other expenditure incurred in connection with its export business amounting to rs. 4 ..... before the appellate assistant commissioner and in sending the matter back to the income-tax officer for examining the claims and passing necessary orders in accordance with law ?'7. it is clear from the records that the assessee had claimed relief under section 35b of the said act from the very inception. the claim preferred initially before the ito was rejected ..... . gordhandas jerambhai, the assessee, a registered firm, was assessed to income-tax for the assessment year 1971-72, the corresponding previous year ending on october 31, 1970. in the assessment proceeding, the assessee claimed weighted deduction for export markets development allowance under section 35b of the i.t. act, 1961. the ito rejected the claim on the ground that full details .....

Tag this Judgment!

Mar 27 1985 (HC)

Commissioner of Income-tax Vs. B.K. Birla

Court : Kolkata

Decided on : Mar-27-1985

Reported in : [1986]157ITR348(Cal)

..... ajit k. sengupta, j. 1. this is a reference under section 256(1) of the income-tax act, 1961. the assessment for the assessment year 1966-67 was reopened under section 147 of the income-tax act, 1961, on the ground that income had escaped assessment as the speculation income earned in the name of kumari manjusri birla, the daughter of the assessee, really belonged to the assessee. kumari ..... . that question was also refused by the tribunal. the revenue thereafter did not move this court under section 256(2) of the income-tax act, 1961. thus, the question has to be answered on the facts found by the tribunal.7. in the case of cit v. k. k. birla : [1982]137itr126(cal) relied on by mr. bajoria, learned advocate for the assessee, the ..... of kumari manjusri birla which showed that the minor had her own capital. the business was done by the assessee as guardian of his minor daughter. it observed that the income-tax officer made enquiry from the brokers who supported the assessee's contention on this point. according to the tribunal, the guardian of the minor had the authority to do the ..... her name. the assessee as guardian of his minor daughter transacted speculation business in shares through the brokers, m/s. kothari trading co. ltd. and m/s. jhawar & co. the income-tax officer examined the two brokers to enquire at whose instructions those transactions were entered into. they replied that the contracts were made on the instructions of the assessee. the assessee .....

Tag this Judgment!

Mar 27 1985 (HC)

Commissioner of Income-tax Vs. Ghosh and Sons

Court : Kolkata

Decided on : Mar-27-1985

Reported in : (1985)47CTR(Cal)368,[1986]159ITR459(Cal)

..... but for the defect in the application formsthe assessee was entitled to the continuation of registration. the tribunal held that under section 185(3) of the act, the income-tax officer should have pointed out the defect in the application and allowed an opportunity to the assessee to rectify the mistake. accordingly, the tribunal set aside ..... following question of law has been referred to this court under section 256(1) of the income-tax act, 1961, for the assessment years 1968-69 and 1969-70 :'whether, on the facts and circumstances of the case and in view ..... the order of the income-tax officer and directed the income-tax officer to allow an opportunity to the assessee to rectify the defect in the application forms and to allow continuation of registration for both ..... 10. having regard to the facts and circumstances of the case and the relevant provisions of the act and the rules referred to above, we are of the view that the tribunal was right in directing the income-tax officer to allow an opportunity to the assessee to rectify the defect in the declaration made under ..... section 184(7) of the act.11. in the premises, we answer the question in the affirmative and in favour of .....

Tag this Judgment!

Mar 29 1985 (HC)

Commissioner of Income-tax Vs. Karam Chand Thapar and Brothers (P.) Lt ...

Court : Kolkata

Decided on : Mar-29-1985

Reported in : [1986]157ITR212(Cal)

..... the high court for its opinion :'whether, on the facts and in the circumstances of the case and on a proper construction of section 10(4a) of the indian income-tax act, 1922, the payment of rs. 1,00,777 to shri m. m. thapar by way of salary and profit commission was excessive or unreasonable so as to justify ..... to the high court for its opinion :'whether, on the facts and in the circumstances of the case and on a proper construction of section 40(c) of the income-tax act, 1961, the payment of rs. 73,308 to sri m.m. thapar by way of salary and profit commission was excessive or unreasonable so as to justify the ..... given therein. what is money wholly and exclusively laid out for the purposes of trade as required by section 37 of the income-tax act, 1961, is a question which must be determined upon the principles of ordinary commercial trading. see cit v. chandulal keshavlal : [1960]38itr601(sc) . one must look to the direct concern and direct purpose for which ..... assessee-company. he, therefore, allowed the remuneration of rs. 36,000 and disallowed the balance of rs. 64,777 under section 10(4a) of the indian income-tax act, 1922. the disallowance was also confirmed by the appellate assistant commissioner in the appeal preferred by the assessee against the order of the ..... r.n. pyne, j. 1. this reference under section 256(1) of the income-tax act, 1961, relates to the assessment year 1962-63, for which the relevantprevious year ended on march 31, 1962. the relevant facts of this case as will .....

Tag this Judgment!

Apr 01 1985 (HC)

In Re: Purbachal International and anr.

Court : Kolkata

Decided on : Apr-01-1985

Reported in : 1986(6)LC581(Calcutta),1985(21)ELT673(Cal)

..... affect the company's right to obtain relief under article 226 of the constitution against the notice under section 34 of the income tax act and directed the income tax officer not to take any action on the basis of the impugned notice and a further order was passed quashing the assessment ..... court, high court granted liberty to the income tax authorities to proceed with the assessment proceeding to pass final order and the supreme ..... the supreme court of india in the case of calcutta discount campany v. income tax officer reported in : [1961]41itr191(sc) . in that case the petitioner moved against the notice under section 34 of the indian income tax act, 1922 and that during the pendency of the writ petition in the high ..... but as understood in commercial parlance. reference may be made in this connection to the decisions of supreme court of india in ramavatar budhai prasad v. assistant sales tax officer, akola, : [1962]1scr279 ; motipur zamindary company v. state of bihar, : air1962sc660 and state of west bengal v. washi ahmed, : [ ..... cement and white cement as two different commercial commodities even under the law. according to mr. gupta, the collector of customs had acted arbitrarily, unjustly and whimsically in not relying upon the definition of cement in the said control order which was binding all force upon the .....

Tag this Judgment!


Save Judgments// Add Notes // Store Search Result sets // Organizer Client Files //