Kolkata Court January 1990 Judgments
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Burdwan Wholesale Consumers' Co-operative Society Ltd. Vs. Commissione ...
Court: Kolkata
Decided on: Jan-09-1990
Reported in: (1991)94CTR(Cal)259,[1991]191ITR570(Cal)
Suhas Chandra Sen, J.1. The Tribunal has referred the following question of law to this court under Section 256(1) of the Income-tax Act, 1961 :'Whether, on the facts and in the circumstances of the case, the Tribunal was justified in declining to allow the benefit of carry forward and set off of the losses for the earlier assessment years on the ground that returns of income for those assessment years were not furnished in terms of Section 139 although they were furnished in terms of notice under Section 148 ?'2. The facts of the case, as stated by the Tribunal, are as follows :'For the assessment years 1970-71, 1971-72 and 1972-73, income-tax assessments were completed under Section 143(3) determining losses as stated below: Assessment yearLoss Rs.1970-7129,6561971-7214,0721972-7341,8193. There was no assessment for the assessment year 1974-75. For the assessment year 1975-76, the Income-tax Officer, A-Ward, Burdwan, made an assessment determining an income of Rs. 74,828. On a prayer...
Commissioner of Income-tax Vs. Peerless Consultancy Services (Pvt.) Lt ...
Court: Kolkata
Decided on: Jan-09-1990
Reported in: (1990)90CTR(Cal)73,[1990]186ITR609(Cal)
Bhagabati Prasad Baneejee, J. 1. The following two questions of law have been referred to this court by the Tribunal under Section 256(1) of the income-tax Act, 1961 :'(1) Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the assessee was an industrial company within the meaning of Section 2(7)(c) of the Finance Act, 1981 ? (2) Whether, on the facts and in the circumstances of the case, the Tribunal was justified in directing the Income-tax Officer to grant investment allowance in respect of a generator installed by the assessee-company ?' 2. The assessment year involved in this case is the assessment year 1981-82 for which the relevant period of account is the year ending on June 30, 1980.3. The facts of this case, in short, are as follows :The assessee carries on the business of providing technical and industrial consultancy on the basis of computers and also undertakes electronic data processing. The Commissioner of Income-tax (Ap...
Commissioner of Income-tax Vs. Rungta Mines Pvt. Ltd.
Court: Kolkata
Decided on: Jan-09-1990
Reported in: (1992)91CTR(Cal)47,[1992]193ITR570(Cal),[1992]54TAXMAN513(Cal)
SUHAS CHANDRA SEN J. - The following question of law has been referred by the Tribunal to this court under section 256(1) of the Income-tax Act, 1961 :'Whether, on the facts and in the circumstances of the case, the incomplete railway siding under construction could be termed as plant within the meaning of section 43(3) of the Income-tax Act, consequent upon which the assessee was eligible for deduction ?'The assessment year involved is 1979-80 for which the relevant year of account is the year ending on October 13, 1978.The assessee had, in fact, raised as many as three questions. In the first question, the assessee challenged the finding of the Tribunal that the railway siding (under construction) which was later on abandoned was a plant within the meaning of section 43 (3) of the Income-tax Act. That question has been referred to this court in a modified form. The second question challenged the alternative finding of the Tribunal that the railway siding might be taken as building. T...
Commissioner of Income-tax Vs. Dunlop India Ltd.
Court: Kolkata
Decided on: Jan-08-1990
Reported in: [1992]197ITR34(Cal)
Suhas Chandra Sen, J.1. The case was originally heard and decided on March 21, 1989. Later on, it was decided to rehear the case because certain relevant facts and law and in particular the latest Supreme Court judgments were not cited in the course of hearing of the case. Thejudgment and order passed on March 21, 1989, are recalled. The case has been heard de novo.2. The following four questions of law have been referred to this court by the Tribunal under Section 256 of the Income-tax Act, 1961 :'1. Whether, on the facts and in the circumstances of the case and in view of the provisions of Section 35B(1) of the Income-tax Act, 1961, the assessee was entitled to weighted deduction in terms of Section 35B on the emoluments paid by it in each of the accounting periods relevant to the assessment years 1972-73 and 1973-74 to its employees in its export promotion department ? 2. Whether, on the facts and in the circumstances of the case, the Tribunal was correct in holding that the relief ...
Commissioner of Income-tax Vs. Sri Krishna (P.) Ltd.
Court: Kolkata
Decided on: Jan-08-1990
Reported in: (1992)94CTR(Cal)66,[1992]193ITR494(Cal)
BHAGABATI PRASAD BANERJEE J. - The Tribunal has referred the following two questions of law before this court under section 256(2) of the Income-tax Act, 1961 :'(1) Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was justified in holding that the assessee discharged its onus to prove the genuineness of cash credits of Rs. 2,60,000 appearing in his books of account in the name of Sugar Suppliers (P.) Ltd. ?(2) If the answer to question No. 1 is in the negative, whether the Income-tax Appellate Tribunal was justified in law in holding that the interest of Rs. 10,784 paid to Sugar Suppliers (P.) Ltd. was an admissible deduction in computing the total income of the assesseei ?'The assessment year involved is the assessment year 1974-75 for which the relevant accounting year ended on March 22, 1974. The question in this particular case is whether the assessee has been able to discharge the onus cast upon it under the law for proving the genuinen...
Commissioner of Income Tax Vs. Premier Polymers (P) Ltd.
Court: Kolkata
Decided on: Jan-08-1990
Reported in: (1992)107CTR(Cal)310
SUHAS CHANDRA SEN, J. :The Tribunal has referred the following questions of law under s. 256(1) of the IT Act, 1961 to this Court :'(1) Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that non-allowance of carry forward of the assessed loss was a mistake apparent from the record within the meaning of s. 154 of the IT Act ?(2) Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that the assessee was entitled to the benefit of carry forward of the loss although its return was filed beyond the time allowed under s. 139(1)/139(3) of the IT Act ?'2. In this proceeding the assessment year involved is 1977-78. The facts found by the Tribunal have been narrated in the statement of case, which are as under :'The assessee is a private limited company. The assessee filed a petition dt. 26th August, 1981 under s. 154 of the Act and claimed that the assessee should be allowed the benefit of carry ...
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