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Judgment Search Results Home > Cases Phrase: income tax act Sorted by: recent Court: kolkata Year: 2000 Page 7 of about 119 results (0.034 seconds)

Apr 18 2000 (HC)

Commissioner of Income-tax Vs. Chhindwara Fuels

Court : Kolkata

Decided on : Apr-18-2000

Reported in : (2000)163CTR(Cal)601,[2000]245ITR9(Cal)

..... 1. on an application under section 256(1) of the income-tax act, 1961, the tribunal has referred the following question for our opinion along with the statement of case :'whether, on the facts and in the circumstances of the case, the tribunal was justified in law in holding the view that the sales tax subsidy of rs. 2,06,400 received by the assessee ..... of cit v. dusad industries : [1986]162itr784(mp) and cit v. plastichem : [1988]174itr546(mp) and held that subsidy is a capital receipt and not liable to ..... was a capital receipt not liable to income-tax ?'2. during the course of assessment, the assessing officer (north-east) wrote a letter to the assessee dated february 20, 1989 ..... ,06,400 from the directorate of industries, madhya pradesh government, is exempt from income-tax, as it is not a revenue receipt. the assessing officer negatived the claim of the assessee and treated it as a revenue receipt. in appeal before the commissioner of income-tax (appeals), the commissioner of income-tax (appeals) has followed the decisions of the madhya pradesh high court in the case .....

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Apr 06 2000 (HC)

Commissioner of Wealth-tax Vs. P.P. Ghosh (Decd.) (Through Executrix S ...

Court : Kolkata

Decided on : Apr-06-2000

Reported in : [2000]244ITR574(Cal)

..... packing products and camphor works [1998] 231 itr 53. he further submits that though the decisions are under section 263 of the income-tax act, 1961, section 263 of the income-tax act is pari materia with section 25 of the wealth-tax act, 1957. 6. in cit v. shree manjunathesware racking products and camphor works [1998] 231 itr 53 , their lordships have considered the meaning of 'record'. for ..... , 'the material available on record at the time of examination of the report by the commissioner of income-tax under section 263 ?' their lordships held that 'record' is not confined to material available to the income-tax officer and any material available to the commissioner of income-tax at the time of examination for the purpose of revision of the assessment order. in view of the ..... , the tribunal was justified in holding that the commissioner cannot rely onthe report of the valuer to invoke the provision of sub-section (2) of section 25 of the wealth-tax act, 1957 (2) whether, on the facts and in the circumstances of the case, the tribunal was justified in quashing the order of the commissioner of wealth ..... subsequent decision of this court and the aforesaid decision of the apex court, in our view, the commissioner of wealth-tax can consider the valuation report which .....

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Apr 06 2000 (HC)

Commissioner of Wealth Tax Vs. P.P. Ghosh (Decd)

Court : Kolkata

Decided on : Apr-06-2000

Reported in : (2000)161CTR(Cal)365

..... (1997) 143 ctr (sc) 406 : (1998) 231 itr 53 . he further submits that though the decisions are under section 263 of the income tax act, but section 263 of the income tax act is pan materia with section 25 of wealth tax act, 1957.4. in cit v. shri manjunatheswar packing products & camphor works (supra). their lordships has considered the meaning of 'record'. for the purpose of revision, the ..... material available on record at the time of examination of the report by commissioner under section 263'? their lordships held that the 'record' is not confined to material available to income tax officer and any material available to the commissioner at the time of examination for the purpose of revision of the assessment order. in view of the subsequent decision of this ..... facts and in the circumstances of the case, the tribunal was justified in holding that the commissioner of wealth tax cannot rely on the report of the valuer to invoke the provisions of sub-section (2) of section 25 of the wealth tax act, 1957 ?(2) whether, on the facts and in the circumstances of the case, the tribunal was justified in quashing ..... the order of the commissioner of wealth tax under sub-section (2) of the wealth tax act, 1957 and in allowing the assessee's appeal ?'2. the assessment years involved are 1967-68 to 1974-75. the wealth tax officer has made assessment valuing the immovable properties of the assessee and in 1967-68, he .....

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Apr 04 2000 (HC)

Vidyasagar Samabay Abasan Samiti Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Apr-04-2000

Reported in : [2000]244ITR841(Cal)

..... . by this reference application under section 256(1) of the income-tax act, 1961, the tribunal has referred the following question of law for our opinion : 'whether, on the facts and in the circumstances of the case, the tribunal was justified in reversing the order of the commissioner of income-tax (appeals) and in holding that loss or shortfall on account ..... no provision for allow-ing maintenance and management expenses of the co-operative society against the income from other sources. the income was taxed under the head 'income from house property'. 3. in appeal from the commissioner of income-tax (appeals), the commissioner of income-tax (appeals) has directed the income-tax officer to deduct the loss in the administrative heads out of the house property ..... housing society for the assessment year under consideration. it claimed deduction on maintenance and administ rative charges. on an examination of the profit and loss account, the income-tax officer has noticed that all the expenses were incurred for maintaining the society's building for the benefit and services to the members. according to the bye-laws ..... the defaulting members, particularly when charges received on account of reimbursement as pointed out earlier, would not make a source of income or profit of the society, for income-tax purpose. as pointed out earlier, the commissioner of income-tax (appeals) allowed the claim of the assessee on the basis of the decision in the case of progressive co-operative society. .....

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Apr 04 2000 (HC)

Berger Paints India Ltd. and ors. Vs. Assistant Commissioner of Income ...

Court : Kolkata

Decided on : Apr-04-2000

Reported in : (2000)164CTR(Cal)637,[2000]246ITR133(Cal)

..... officer'. therefore, the assessing officer cannot be construed as the joint or deputy commissioner alone but also the assistant commissioner meant for the purpose. section 120 of the income-tax act, 1961, prescribes that the income-tax authority shall exercise all or any of the powers and perform all or any of the functions conferred on, or, as the case may be, assigned to such ..... the petitioners respondent no. 1 authority is required to be delivered to the return in the prescribed form and has no competenceor jurisdiction to do anything else under the income-tax act read with the income-tax rules. the assessing officer is the joint commissioner, special range, calcutta. however, it is an admitted position that no hearing, however, has taken place in respect of the ..... , and 4 are superior officers to respondent no. 1. none of respondents nos, 1 to 4 has anything to do with the income-tax assessment of the petitioner under the income-tax act and none of them has any jurisdiction over the income-tax assessment of petitioner no. 1. the petitioner filed a return along with the appropriate copies of the audited profit and loss account and ..... the rules framed thereunder. 4. the petitioners contended from the prescribed form, it will appear how much is paid and how much is deducted under section 194c(4) of the income-tax act. by a letter dated june 29, 1999, the petitioners duly filed form no. 26c for the financial year 1998-99 relevant to the assessment year 1999-2000 along with the .....

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Apr 03 2000 (TRI)

Deputy Commissioner of Vs. Turnkey International Ltd.

Court : Income Tax Appellate Tribunal ITAT Kolkata

Decided on : Apr-03-2000

Reported in : (2001)77ITD119Cal

..... that view directed the assessing officer to delete the said disallowances by passing order under section 154 of the income-tax act, 1961." 2. the facts of the case arc that the assessee filed its return of income showing loss of rs. 19,72,210. this was processed under section 143(1)(a) in which addition ..... department in this appeal filed by it is as follows :-- "that, on the facts and in the circumstances of the case, the learned commissioner of income tax (appeals)-lv, calcutta erred in law as well as on facts in holding that the assessing officer was not justified in adding back rs. 90,80,314 ..... was of the opinion that, inasmuch as, the assessee-company itself had not added back any amount as disallowable under section 40a(3) in the computation of income made by it, it was not within the powers of the assessing officer to have made such addition during the course of the prima facie adjustment. the ..... against this order before the commissioner (appeals). the commissioner (appeals) noted that the assessing officer appeared to have called for the annexure vi of the tax audit report, especially from the earlier auditors, which he was not justified to do.she was of the opinion that at best the assessing officer could ..... of an amount of rs, 90,80,314 was made under section 40a{3) and the total income was thus determined at rs. 75,84,700. it appears that annexure vi of the tax audit report enclosed along with the return was not there originally and that the assessing officer asked for a .....

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Mar 31 2000 (HC)

Commissioner of Income-tax Vs. Jayantilal Meghani

Court : Kolkata

Decided on : Mar-31-2000

Reported in : [2000]244ITR468(Cal)

..... specifically to quantify the amount of penalty in the order cannot invalidate the same.'5. the facts are not in dispute that in the penalty order, the income-tax officer has imposed the penalty in the following terms referred to at page 14 of the statement of case which reads as under :'i, therefore, impose 100 ..... confirmed by the appellate assistant commissioner in the quantum appeal. on the basis of concealed income, the proceeding under section 271(1)(c) of the act has been initiated and the income-tax officer levied the penalty on hundred per cent of the tax evaded. but there was no quantification of penalty in the penalty order. in the appeal ..... 1. on an application under section 256(1) of the income-tax act, 1961, the tribunal has referred the following question set out at page 3 of the application for our opinion :'whether, on the facts and ..... ratna kanti bhuyan , and discussed the issue as under :'the next question relates to quantification of the amount of penalty. it is contended by the assessee that the income-tax officer did not mention the amount of penalty in the penalty order and, as such, the order is defective and inoperative. we are, however, of the opinion ..... act which provides that 'in cases referred to in clause (c), in addition to any tax payable by him, a sum which shall not be less than, but which shall not exceed three times the amount of tax sought to be evaded by reason of the concealment of particulars of his income.' when in the penalty order, the income-tax .....

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Mar 31 2000 (TRI)

Deputy Commissioner of Vs. Goodricks Group Ltd.

Court : Income Tax Appellate Tribunal ITAT Kolkata

Decided on : Mar-31-2000

Reported in : (2001)77ITD245(Kol.)

..... will henceforth be called the first assessment order). the cit(a) decided the appeal against this order along with another appeal for the assessment year ..... is a departmental appeal against the order of the commissioner oflncomc-tax (appeals) passed on 9-12-1994. the facts of the case are rather somewhat peculiar.2. the assessing officer passed thy assessment order under section 143(3) of the income-tax act, 1961 for this year on 27-3-1989 (this order ..... the assessee even against ihe disallowance of the portion of the expenses relating to restrictive clause in principle. after making various smoky discussions, the second cit(a) finally held as below : "the conclusion that flows out of the discussion above, on its own strength and motion, is quite clear. ..... same services to other lea gardens as discussed above is not wholly for business purposes. the disallowance made by him is upheld in principal.' the cit(a) thereafter discussed that, however, the claim of the assessee regarding the amount relating to this matter (the disallowance) needed lo be looked into ..... ground, the department challenges the direction given by the third cit(a) to delete the interest charged under sections 139(8) and 215 of the act. in this connection the id. dr brings our attention to the order of the second cit(a) in which he had already dismissed the grounds raised .....

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Mar 31 2000 (TRI)

Assistant Commissioner of Vs. A.S. Wardekar

Court : Income Tax Appellate Tribunal ITAT Kolkata

Decided on : Mar-31-2000

Reported in : (2001)77ITD405(Kol.)

..... pointed out that accdrding to those circular receipts which were of casual or non-recurring nature were liable to income-tax if those could properly be characterised as income either in its general connotation or within the extended meaning given to the term by the income-tax act. according to the counsel of the assessee, the case relied on by the assessing officer was distinguishable because ..... the hon'ble calcutta high court in the case of b.k. roy (p.) ltd. v. cit [1995] 211 itr 500 wherein it was held that- that section 10 of the income-tax act, 1961, lays down certain categories of income which will not be included in the total income of a person. the proviso (i) to sub-section (3) of section 10 clearly recognises ..... lakhs received by the assessee did not fall within the inclusive definition of income appearing in section 2(24) of the act. there was no provision under the income-tax act which deemed such receipts as of income nature. such receipts could also hot be considered as income under the general law and accordingly, the cit (a) held the amount as capital receipt not falling within the ..... assessee cannot necessarily be deemed to be its income for the purpose of income-tax and the question whether any particular receipt is income or not depends on the nature of the receipt and the true scope and effect of the relevant taxing provision. under the income-tax act only those receipts amounting to income are assessable.according to the cit(a), in the instant case the amount of .....

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Mar 27 2000 (HC)

Turner Morrison and Co. Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Mar-27-2000

Reported in : (2001)165CTR(Cal)451,[2000]245ITR724(Cal)

..... the tribunal.4. coming to questions nos. 5 and 6, with regard to the disallowance of rs. 15,40,264, the assessing officer and the commissioner of income-tax (appeals) have disallowed this deduction on the ground that no material was placed before them by the assessee to establish that the amounts were irrecoverable. the tribunal, ..... and 2 are concerned, after hearing the detailed arguments of the learned advocates for the parties we find that the findings of the assessing officer, the commissioner of income-tax (appeals) and the tribunal that the fixation of notional value of re. 1 on the property in question subsequent to the passing of the decree by the ..... section (2) of section 36 of the act clearly suggests that deduction as a bad debt being allowable only to a money-lender in the ordinary course of the business of banking or money-lending is not ..... accounts were finalised and such determination or approval must be treated as being effective from that date.'6. even a plain reading of section 36(1)(vii) of the act, read with sub-section (2)(i) thereof, clearly suggests that the aforesaid view taken by the tribunal was incorrect. further reading of clause (i) of sub- ..... allowable. question no. 6 is answered in the affirmative.8. there will be no order as to costs.9. all parties concerned are to act on a xeroxed signed copy of this dictated order on the usual undertakings. .....

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