Judgment Search Results Home > Cases Phrase: agricultural income tax act 1957 section 17 income tax authotities Court: kolkata appellate Page 7 of about 80 results (5.353 seconds)

Assistant Commissioner of Income Vs. Anil Kumar Mehra (Huf),

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2002)81ITD531(Kol.)

..... 22. further, it is an admitted position that none of the assessees is anyway interested in premium estate, which is separately assessed to income-tax vide gir no. p-17 by asstt. cit, comp. circle 3(5), new delhi. it is also found that the transaction for purchase and resale of the property in question ..... together with premium estate as confirming party submitted a statement of transfer of immovable property in question to the appropriate authority under section 269uc of the act showing therein the apparent consideration at rs. 1.40 crores and eot as transferee. the appropriate authority then issued certificate under section 269ul(3) on ..... stipulates about the matter of payment of the balance consideration. (4) clause (iv) provides the requirement of obtaining no objection certificate from the appropriate authority under the it act. (5) clause (vii) speaks about the completion of the sale transaction and in case the vendors fails to fulfil the obligation under the sale of agreement, .....

Deputy Commissioner of Income Tax Vs. Suresh Kumar

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2006)284ITR104(Kol.)

..... penalty under section 158bfa(2) amounting to rs. 15,37,980 equivalent to the amount of tax so leviable in respect of undisclosed income determined under section 158bc(c)/143(3) of the it act. the assessee preferred first appeal before the learned cit(a).the learned cit(a) while sustaining the penalty under section 158bfa(2) considered the amount of undisclosed ..... the assessee is agitating the sustenance of the amount of penalty by the learned cit(a).5. the learned departmental representative while relying on the order of the ao submits that as a result of search undisclosed income was computed under chapter xiv-b of the act at rs. 75,63,300 as against rs. 50 lakhs disclosed by the ..... high court in the case of dr. (mrs.) alaka goswami v. cit (2004) 268 itr 178 (gau). in this view of the matter, the income disclosed in the returns filed after the date of search is not liable for penalty under section 158bfa(2) of the it act and accordingly, we are inclined to uphold the order of the learned .....

Assam Carbon Products Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2006)100TTJ(Kol.)224

..... is further fortified by the direct authority of the hon'ble supreme court in the case of radhasoami satsang v. cit . held as under : we are aware of the fact that, strictly speaking, res judicata does not apply to income-tax proceedings. again, each assessment year being a unit, what is decided in one year may not apply in the ..... complete picture of the assessee's case, it will be relevant to peruse the production history of the assessee company.7.3 the assessee-company was incorporated under the companies act, 1956. in the year 1973, morgan crucible company pic, uk (hereinafter referred to as mccp) entered into a joint venture agreement with the assessee-company and provided the ..... for 6 years upto financial year 1998-99 (relevant to asst. yr. 1999-2000). sec. 80-ia was, however, substituted by sections 80-ia and 80-ib by finance act, 1999, w.e.f. 1st april, 2000. consequently, the company claimed deduction under corresponding section 80-ib for 4 years w.e.f. asst.yr. 2000-01 ending with .....

Sutlej Cotton Mills Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (1993)45ITD22(Kol.)

..... the income-tax act is that certain receipts are not to be taken as income at all, while, in respect of certain receipts, there is an exemption from tax on fulfilling certain conditions and in respect of certain other incomes, certain concessions or deductions are given. to illustrate this, under chapter iii, under section 10, agricultural income is not ..... case of express newspapers ltd. [19641 53 itr 250 (at page 260) : " now turning to section 12b (indian income-tax act, 1922 (43 of income-tax act, 1961)), it provides for capital gains. under that section, the tax shall be payable by the assessee under the head ' capital gains ' in respect of any profits or gains arising from ..... provisions have been made after april 1, 1988, and have gone to increase the book profits in any year when the provisions of section 115j of the income-tax act were applicable. this amendment will take effect from april 1, 1988, and will, accordingly, apply in relation to the assessment year 1988-89 and subsequent .....

Assistant Commissioner of Vs. Jamuna Flour and Oil Mills (P.)

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (1992)41ITD260(Kol.)

..... to the assessee's appeal in ita no. 1658 (cal.)/89 which is directed against the order of the cit, wb-iv, calcutta dated 3-3-1989 passed under section 263 of the income-tax act, 1961. by this order, the cit considered the assessment order passed by the ito on 27-3-1987 as erroneous insofar as it was prejudicial to ..... next submitted that similar levies of market fee under other state enactments such as rajasthan agricultural produce markets act, 1961 have been held to be not forming part of the sale price for computing the taxable turnover of the assessee under the sales tax act. for this he relied on the decision of the rajasthan high court in the case of ..... relied on by both slides as set out above.24. in our view, the market fee collected by the assessee in the present case under the bihar agricultural produce markets act, 1960 does not represent a trading receipt. this position is now well settled by the decisions of the rajasthan high court and the allahabad high court referred .....

Santosh Kumar Kejriwal (Executor Vs. Acit

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2004)89ITD172(Kol.)

..... shares is to be determined by spreading the cost of the original shares over the number of the original and bonus shares. there are no specific provisions under the income-tax act to deal with the computation of the cost of acquisition in such cases. 30.2 computation of the cost of bonus shares on the principle of averaging, however ..... of acquisition as nil in terms of the following provisions of sub-clause (iiia) of clause (aa) of sub-section (2) of section 55 of the income-tax act, 1961 which has been inserted, by the finance act, 1995 with effect from the assessment year 1996-97 (sub-clause (iiia) in short). "meaning of "adjusted", "cost of improvement" and "cost of ..... 25 itr 58 (sc), the hon'ble court held: "nor can it be said, in strictness, that the finance act, 1950, is retroactive legislation. that act, as already noticed, purports by section 2 to charge income-tax and super-tax at specified rates "for the year beginning on the 1st day of april, 1950". the case is thus one where the .....

State Bank of India Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (1983)6ITD225(Kol.)

..... however proper observations of the statutory auditors may be so far as accountancy is concerned, the determination of the total income has to be based on the provisions of the income-tax act. under the provisions of the income-tax act, the assessee can maintain his accounts either on mercantile basis or on cash basis. in either case, the guarantee ..... the addition of rs. 3,47,140 on typewriters and calculators.29. shri p.t. sanyal, the counsel of the assessee, referred to page 910 of the income-tax act by chaturvedi, new edn. and urged that cupboards, counters and storewels were plant of the assessee and, therefore, the assessee should be allowed development rebate. he ..... argument of the assessee. he observed as follows: the first four grounds of appeal relate to the reopening of the assessment under section 147(b) of the income-tax act, 1961. it is claimed that the reopening is not justified. the reopening has been done in consequence of information received from the revenue audit. it has .....

Assistant Commissioner of Vs. Topsel (P.) Ltd.

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (1996)56ITD187(Kol.)

..... (5). according to the provisions of sections 132(5)(ii), (iia) and (iii), the amount of tax, interest payable and penalty imposable and existing liability under this act and under excess profit tax act, business profit tax act, the indian income tax act, 1922, wealth tax act, 1957, expenditure tax act, gift tax act and company's (profits) surtax act only are to be included and considered for the purpose of retention of seized money. it ..... (5). according to the provisions of section 132(5)(ii. (ixia) and (iii), the amount of tax, interest payable and penalty imposable and existing liability under this act and under excess profit tax act, business profit tax act, the indian income-tax act, 1922, wealth-tax act, 1957, expenditure tax act, gift-tax act and company's (profits) surtax act only are to be included and considered for the purpose of retention of seized money. in .....

Aditya MalhotrA. Vs. Namrata MalhotrA.

Court : Kolkata Appellate

..... passed by the learned trial judge cannot be sustained. the findings of the learned trial judges are based on conjecture and speculative and so it cannot be supported. the income tax return filed by the husband indicates that the husband earns rs.8,000/- per month now and such contention of the husband will be apparent from the materials filed ..... the court and such amounts are to be adjusted as per order to be passed for interim maintenance. viii) the matrimonial proceeding under section 9 of the hindu marriage act lodged by the husband has been dismissed for default. thereafter, the husband filed a suit for dissolution of the marriage between the parties and the said matrimonial suit is ..... west bengal commission for women. the petitioner persuaded her to return to ranchi in vain. ultimately, the petitioner filed an application under section 9 of the hindu marriage act, 1955 on march 19, 2004. 4. the wife/opposite party lodged a suit under the provisions of the hindu adoption and maintenance .....

Deputy Commissioner of Vs. Smt. Sreoshi Pal Chowdhury

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (1992)43ITD32(Kol.)

..... order of the appellate commissioner and ultimately to issue a direction to file a second appeal before the appellate tribunal. the commissioner is a very learned official of the income-tax department and we know that he can himself suo motu and independently, after summoning the concerned records from the assessing officer within the long period of 60 days, ..... on 17-9-1990 as is mentioned in clause 9 of form no. 'f' being form of appeal to the tribunal under section 24(1) of the wealth-tax act, 1957. according to the provisions of sub-section (2) of section 24 the appeals should have been filed before the appellate tribunal on or before 16-11-1990 ..... satisfaction and, therefore, we are unable to condone the delay in filing the present appeals. we have perused the provisions of section 24(2) of the wealth-tax act relating the filing of the appeal by the commissioner against the order of the appellate commissioner before this tribunal. according to this provision the commissioner may if he is .....