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Judgment Search Results Home > Cases Phrase: income tax act Sorted by: recent Court: kolkata Year: 2000 Page 5 of about 119 results (0.031 seconds)

Jul 31 2000 (HC)

ito Vs. Lic of India

Court : Kolkata

Decided on : Jul-31-2000

Reported in : [2001]79ITD278(Cal)

..... constitutional bench of the supreme court in the case of pannalal binjraj v. union of india : [1957]31itr565(sc) :'a humane and considerate administration of the relevant provisions of the income tax act would go a long way in allaying the apprehensions of the assessees and if that is done in the true spirit, no assessee will be in a position to charge ..... which was binding on the appellant, there is no default on the part of the appellant company in terms of section 201 of the income tax act. therefore, while i approve the action of the income tax officer in recovering addl. tax on cca, the levy of interest under section 201(1a) is not justified. the levy of interest of rs. 2001 & rs. 2466 for the ..... the assessee under this head for that financial year'. a perusal of the aforesaid section makes it clear that liability of the employer is to deduct tax on the estimated income of the employees. the provision of section 201 of the income tax act are attracted in the case of an employer when the employer does not deduct or after deducting, fails to pay the ..... salary payable to his employees arises by virtue of section 192(1) of the income tax act which reads as under : 'any person responsible for paying any income chargeable under the head salaries shall, at the time of payment, deduct income-tax on the amount payable at the average rate of income-tax computed on the basis of the rates in force for the financial year in which .....

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Jul 24 2000 (HC)

S.B.i. Home Finance Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Jul-24-2000

Reported in : [2001]249ITR438(Cal)

..... to consider an application for stay of all further penalty proceedings initiated pursuant to a notice dated march 20, 2000, under section 271(1)(c) of the income-tax act, 1961 (hereinafter referred to as 'the act') in respect of the assessment year 1995-96 till the disposal of the instant appeal. the appellant-assessee carries on, inter alia, the business of housing finance ..... stated herein earlier, it is clear that the penalty proceeding in fact, has been initiated against the assesses from the assessment order itself. the assessing officer, while assessing the income-tax dues of the assessee, had passed direction for initiating a penalty proceeding against the assessee. therefore, it can be easily said that the penalty proceeding has been initiated pursuant to ..... the plant was assessed in the hands of the appellant, the claim for depreciation was, however, disallowed by the assessing officer. the appellant filed an appeal and ultimately the income-tax appellate tribunal (in short 'the tribunal') dismissed the appeal of the appellant. feeling aggrieved by the order of the tribunal, the instant second appeal has been filed by the ..... revenue. however, mr. mullick sought to argue that since a penalty proceeding was a distinct and separate proceeding and as in the appeal filed under section 260a of the act, questions relating to the assessment order can only be decided by thiscourt and furthermore the appeal shall be decided only on the questions formulated by it, there was no question .....

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Jul 24 2000 (HC)

S.B.i. Home Finance Ltd. Vs. Commissioner of Income Tax

Court : Kolkata

Decided on : Jul-24-2000

Reported in : (2000)163CTR(Cal)382

..... is to consider an application for stay of all further penalty proceedings initiated pursuant to a notice dated 20-3-2000, under section 271(1)(c) of the income tax act (hereinafter referred to as 'the act') in respect of the assessment year 1995-96 till the disposal of the instant appeal. the appellant-assessee carries on inter alia, business of housing finance leasing ..... facts stated .herein earlier it is clear that the penalty proceeding in fact, has been initiated against the assessee from the assessment order itself. the assessing officer, while assessing the income-tax dues of the assessee, had passed direction for initiating a penalty proceeding against the assessee. therefore, it can be easily said that the penalty proceeding has been initiated pursuant to ..... the plant was assessed in the hands of the appellant, the claim for depreciation was, however, disallowed by the assessing officer. the appellant filed an appeal and ultimately the income tax appellate tribunal (hereinfter referred to as 'tribunal') dismissed the appeal of the appellant. feeling aggrieved by the order of the tribunal the instant second appeal has been filed by ..... revenue. however, mr. mullick sought to argue that since a penalty proceeding was a distinct and separate proceeding and as in the appeal filed under section 260a of the act, questions relating to the assessment order can only be decided by this court and furthermore the appeal shall be decided only on the questions formulated by it, there was no .....

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Jul 13 2000 (HC)

Waldies Ltd. Vs. Income-tax Officer and ors.

Court : Kolkata

Decided on : Jul-13-2000

Reported in : [2000]246ITR29(Cal)

..... the information given by the internal audit party could not be treated as information within the meaning of section 147(b) of the income-tax act. the audit party has merely pointed out a fact which has been overlooked by the. income-tax officer, in the assessment. this is not a case of information on a question of law. a dispute as to whether reopening ..... petition challenging' the order of reassessment under section 147 of the income-tax act, 1961, prior to the coming into force of the latest amendment of this act. the provisions of section 147 of the said act are as follows :'147. income escaping assessment--if the assessing officer, has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may, subject ..... section 142 or section 148 or to disclose fully and truly all material facts necessary for his assessment for that assessment year.'2. under section 148(2) of the said act, the income-tax officer shall, before issuing any notice under this section, record his reasons for doing so. this part of the aforesaid section is making room for the purpose of the ..... has categorically held that the opinion of an internal audit party on a point of law could not be regarded as information enabling the income-tax officer to initiate reassessment proceedings under section 147(b) of the said act.9. at the time of consideration, it was observed by the supreme court of india that in the cpurse of audit, an internal audit .....

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Jul 12 2000 (HC)

Viper Estate and Investment Ltd. and anr. Vs. Appropriate Authority an ...

Court : Kolkata

Decided on : Jul-12-2000

Reported in : [2000]246ITR11(Cal)

..... calculation of utilised far. however, by the process of correspondence more time has elapsed within the prescribed three months period. in fact, the superintending engineer of the office of the income-tax authority hastaken initiative as per the annexure from january 18, 2000, and even thereafter certain clarifications were sought for on february 8/11, 2000. but even after several correspondence nothing ..... in view of the applicability of the deeming provision after the expiry of 90 days from the date of submission of the form being form no. 37-i under the income-tax rules, 1962. in this context, mr. singhvi, learned counsel appearing for the petitioners, cited a judgment reported in dlf universal ltd, v. appropriate authority : [2000]243itr730(sc) , whereof it is ..... amitava lala, j.1. in this writ petition, the petitioners have challenged the order of rejection in respect of issuance of 'no objection certificate' passed by the assistant commissioner of income-tax (osg) being the appropriate authority under letter no. aa/cal/1930/jan. 2000/184-185 2000/184-185 dated may 19, 2000. according to the petitioners, the rejection cannot be ..... department within seven days from the date ofputting in requisition for drawing up and completion of the order as well as the certified copy thereof.10. all parties are to act on a signed copy minutes of the operative portion of this judgment and the order upon usual undertaking and as per the satisfaction of the officer of this court as .....

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Jul 07 2000 (HC)

Nandlal Rander Vs. Commissioner of Customs and ors.

Court : Kolkata

Decided on : Jul-07-2000

Reported in : (2001)1CALLT1(HC)

..... lying with the respondent no. 1 the commissoner of customs.14. the admitted facts are that the warrant of authorisation under sub-section (1) of section 132a of the income-tax act 1961 was issued in april, 1997 in respect of the assets taken into custody by a commissioner of customs, calcutta. the amount which was deposited by shambhu pandey, an ..... . the provisions of section 62 to 78 of the finance act 1997 deals with the voluntarty disclosure of income scheme, 1997. under the disclosure scheme, 1997 any person can declare his any income which was never subjected to tax under the income-tax act, 1922 or the income-tax act, 1961 or declared as wealth under the wealth tax act, 1957. that declaration can be made under sub-section ( ..... sub-section (1) shall apply in relation to,(i) .......................................(ii) the income in respect of the previous year in which a search under section 132 of the income-tax act was initiated or requisition under section 132a of the income-tax act was made, or survey under section 133a of the income-tax act was carried out or in respect of any earlier previous year'.28. it ..... 1) of section 64 of the finance act, 1997.26. sub-section (2) of finance act 1997 provides that nothing contained in sub-section .....

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Jul 07 2000 (HC)

Nandlal Rander Vs. Commissioner of Customs and ors.

Court : Kolkata

Decided on : Jul-07-2000

Reported in : [2000]245ITR810(Cal)

..... which was lying with respondent no. 1, the commissioner of customs.14. the admitted facts are that the warrant of authorisation under sub-section (1) of section 132a of the income-tax act, 1961, was issued in april, 1997, in respect of the assets taken into custody by the commissioner of customs, calcutta. the amount was deposited by shambhu pandey, an ..... . the provisions of sections 62 to 78 of the finance act, 1997, deal with the voluntary disclosure of income scheme, 1997. under the disclosure scheme, 1997, any person can declare his any income which was never subjected to tax under the indian income-tax act, 1922, or the income-tax act, 1961, or declared as wealth under the wealth-tax act, 1957. that declaration can be made under sub-section ..... ) of sub-section (2) of section 64 of the finance act, 1997, further provides that income in respect of the previous year in which a search under section 132 of the income-tax act was initiated or requisition under section 132a of the income-tax act was made, or survey under section 133a of the income-tax act was carried out or in respect of any earlier previous year, ..... contained in sub-section (1) shall apply in relation to-- ...(ii) the income in respect of the previous year in which a search under section 132 of the income-tax act was initiated or requisition, under section 132a of the income-tax act was made, or survey under section 133a of the income-tax act was carried out or in respect of any earlier previous year.'28. it is .....

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Jul 07 2000 (HC)

Assistant Cit Vs. Anup (India) Ltd.

Court : Kolkata

Decided on : Jul-07-2000

Reported in : [2001]79ITD98(Cal)

..... the materials available on record from which it appears that the assessee is engaged in the tea blending activities.the word 'blending' is not defined in the income tax act. however, the dictionary meaning of the blending is the mixing or the mixture. as per websters dictionary, 'process' means 'to subject to some special ..... department against the commissioner (appeals)s order dated 10-5-1994 for the assessment year 1988-89 passed under section 251/143(3) of the income tax act, 1961.2. the appeal is time-barred by nine days. on the basis of the application dated 19-9-1994-and also as per the ..... he has drawn our attention to the object of the section 80-i which provides that deduction is available to an assessee whose gross total income includes any profit and gains derived from an industrial undertaking which fulfils all the conditions laid down in section 80-i(2). he further submitted ..... and selling it, claimed that it was an industrial company, within the meaning of section 2(7)(c) of the finance act, 1978 entitled to concessional rate of tax.'from this judgement it is clear that the honble high court never discussed section 80-i which is involved in the present case ..... cotton by spinning, milk by pasteurizing, fruits and vegetables by sorting and repacking.' similarly, it is defined in section 2(m) of oil industries development act. the jurisdictional high court in the case of g.a. renderian ltd. (supra) discussed the word 'process' used in the definition of the industrial company .....

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Jun 30 2000 (HC)

Adarsh Mahila Siksha Pratisthan and ors. Vs. the Calcutta Municipal Co ...

Court : Kolkata

Decided on : Jun-30-2000

Reported in : (2001)2CALLT47(HC)

..... the society and make them capable of self independent to earn their livelihood amongst other purposes of public utility and social welfare. the trust is also exempted from income tax under section 80g of the income tax act, 1961.3. the premises in question consisting of 8 storied building and all the floors excepting the 2nd floor are leased out by the petitioners' trust one ..... such illegal order shall file an appeal without resorting to writ jurisdiction. while fixation of municipal tax the corporation did not consider the requirements as envisaged in section 174 of the cmc act, 1980. the total assessment was earlier fixed at rs. 2,94,000/- less municipal taxes and service charges amounted to rs. 30,000/-. now the proposed valuation has been increased ..... the said provisions. the question as to whether who would be primarily liable to pay the tax and as to whether such amount of tax can be recoverable from any other person would depend upon the nature of the levy and the purport and object of the act.'17. another contention has been raised by mr. sen, that the landlord claimed to have ..... received only about rs. 24,000/- as earlier rent whereas they are required to pay tax on the basis of enhanced rate of which has been increased by manifolds. thus it would cause serious prejudice to the petitioners. 18. in section 193 of the act it has referred to incidence of consolidated rate on lands and buildings provided that the same .....

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Jun 22 2000 (HC)

Commissioner of Income-tax Vs. Orient Beverages Ltd.

Court : Kolkata

Decided on : Jun-22-2000

Reported in : [2001]247ITR230(Cal),(2003)ILLJ319Cal

..... case, the tribunal was justified in holding that the assessee was entitled to the deduction of the interest payable on the outstanding municipal taxes thereby cancelling the order of the commissioner of income-tax passed under section 263 of the income-tax act, 1961 ?(2) whether, on the facts and in the circumstances of the case, the tribunal was justified in holding that the ..... . the rent received in respect of the tiveli park building was considered as 'property income' whereas, the rent received from the building at chowringhee road was assessed as 'business income'. the commissioner of income-tax initiated a proceeding under section 263 of the income-tax act and held that the assessing officer was wrong in allowing deduction in respect of the interest payable to the ..... calcutta municipal corporation since the interest was part of the municipal tax itself, and was liable to be disallowed under section 43b of the income-tax act (hereinafter referred to as 'the act'), as-the same had not been actually paid.5. in respect of the assessment year 1988-89, the ..... parties, it would not be out of place to reproduce section 43b of the income-tax act which is as follows :'notwithstanding anything contained in any other provision of this act, a deduction otherwise allowable under this act in respect of-- (a) any sum payable by the assessee by way of tax, duty, cess or fee, by whatever name called, under any law for the .....

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