Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1993)45ITD603(Kol.)
..... return within the time allowed under section 139. such interest is to run from the date of failure till the date of completion of assessment. no doubt under the income-tax act the assessee has been given a right for reduction or waiver of interest charged by the assessing officer.therefore, until there is a waiver or reduction the liability of ..... in this regard.7. regarding issue no. (iv) the counsel for the assessee, sri g.p.agarwal submits that interest under sections 139, 215 and 220(2) of the income-tax act are debts and are, therefore, to be deducted in computing the net wealth. the revenue's representative, sri s.c. sen, contends that those interests are not debts on ..... s counsel has relied on the decisions in the cases of cit v. assam oil co. ltd. [1982] 133 itr 204 (cal.), cit v.rangnath bangur [1984] 149 itr 487 (raj.); m.r. thammaiah v.agricultural ito [1984] 150 itr 403 (kar.); state bank of hyderabad v.cit [1988] 171 itr 232 (ap) and cit v. indian rare earth ltd. [1990] 181 itr 22 .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1984Cal197,88CWN760
..... appears therefrom that a suit was filed by the state of u. p. for recovery of agricultural income-tax due from an assessee under the u. p. agricultural income-tax act without taking recourse to the summary remedy as provided in section 32 of the u. p. act. it has been held in the aforesaid case that the failure of the assessee to make ..... payment of tax within time on receipt of the notice of demand creates a debt in ..... levied by distress and sale of any movable property belonging to the defaulter excepting ploughs, cattle and other implement of agriculture. section 162 empowers the commissioners to apply certificate procedure under the bengal public demands recovery act. section 162-a provides that in the event of failure to recover the whole or any part of the sum .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1957Cal350,61CWN576
..... the forests and expend a large sum of money in cutting creepers. it is further in evidence that the income of the forest was treated by the maharajadhiraj as agricultural income and taxes were paid under the agricultural income-tax act. 4. i think that it will be eminently useful to consider a decision of this court viz., maharajadhiraj bahadur ..... of darbhanga v. commissioner of agricultural income-tax act, west bengal, : [1952]21itr258(cal) . fortunately, chakravartti, c. j,, was considering there, a document in respect of this very forest, and couched ..... of sale, notwithstanding the definition of 'immovable property' in section 3(25), general clauses act, 1897. the learned judge also referred to a decision of the judicial committee of the privy council in mohanlal hargovind of jubbulpore v commr. of income-tax, c. p & berar nagpur , where a similar contract giving right to the .....
Tag this Judgment!Court : Kolkata
Reported in : [1962]13STC138(Cal)
..... by an individual that intention must be given effect to, and no argument based on hardship or inconvenience can be admissible. that was a case under the bengal agricultural income-tax act, 1944, which contains a provision indicating an intention to exclude the common law rule qui facit per alium facit per se in the matter of affixing signature to ..... evidence of the sales in respect of which exemption had been claimed. reliance was placed on a decision of the supreme court in the case of commissioner of agricultural income-tax, bengal v. shri keshab chandra mandal 18 i.t.r. 569 in which it was held that where a statute and the rules framed thereunder clearly indicate ..... and so the writ petition under article 226 of the constitution is not maintainable. reliance is placed on a recent decision of the supreme court reported in abraham v. income-tax officer, kottayam and anr. a.i.r. 1961 s.c. 609, paragraph 3. the learned counsel for the appellant has, on the other hand, contended that .....
Tag this Judgment!Court : Kolkata
Reported in : [1978]113ITR778(Cal)
..... [1965]56itr77(sc) , the supreme court held that the entire managing agency commission was laid out or spent for the purpose of the business of the assessee and was allowable under section 10(2)(xv) of the indian income-tax act ..... arose whether any part of the managing agency commission paid by the assessee could be related to the management of sugarcane cultivation, income from which was exempt from tax as agricultural income and thus not be allowed as an ordinary business expenditure. following its earlier decision in the case of indian bank ltd. : ..... solely and exclusively for the purpose of earning dividend then such expenditure had to be deducted from the dividend earned under section 57 of the income-tax act, 1961, whether claimed by the assessee or not. mr. pal placed particular emphasis upon the observation of the tribunal that in the .....
Tag this Judgment!Court : Kolkata
Reported in : (2001)73TTJ(Cal)349
..... turnover as inclusive of this brokerage and commission, i.e., at gross value but the assessing officer held that, as per the statutory definition under the income tax act, 'export turnover means the sale proceeds received in or brought into india in convertible exchange'. since only the net amount was brought in india, the ..... debited the cess paid in the profit & loss account but yet claimed the deduction of the same amount by the virtue of section 43b of the income tax act, 1961.therefore, effectively assessee has claimed deduction of cess payment from computation of profit from business even without debiting the related expenditure. it is in the ..... income not chargeable to tax is to be excluded for the purpose of income under section 80hhc(1). memorandum explaining the provisions in the finance bill, 1999, make it amply clear that the purpose of inserting this sub-section was not to allow deduction under section 80hhc in respect of agricultural income component of the total income .....
Tag this Judgment!Court : Kolkata
Reported in : (2005)199CTR(Cal)134
..... respect of the expenditure and on the cash system in respect of its receipts and the law recognises such maintenance of accounts in hybrid system under section 145 of the income-tax act, 1961, as it was prevailing at the relevant point of time. this practice has been disapproved subsequently when the said section 145 was amended with effect from april 1, 1997 ..... earned service charges and export handling commission for rendering various services to the parties. the assessee further earned interest on fixed deposit, debentures/ bonds and dividends on shares apart from income from agricultural activities.3. heard mr. j. p. khaitan, learned counsel for the appellant, and mr. dipak deb, learned counsel for the revenue.4. the contention of the appellant is that .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1983)4ITD212(Kol.)
..... in item note no. 7 given at the foot of the return form gives the instances of incomes, profits and gains not includible in the total income, referred to in rule 4 as follows: instances of income profits and gains not includible in the total income as computed under the income-tax act, 1961 are agricultural income in india, and in the case of a non-resident company, its ..... income accruing or arising outside india.on the basis of the aforesaid form and note no. 7, the learned .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1969Cal32,72CWN384
..... therefore, irrelevant for the purpose of sales tax realised by the state.17. as for income-tax, the share of a state out of the proceeds of income-tax does not appear to vary with the income-tax realised in the state. article 270(1) of the constitution provides that taxes on income other than agricultural income shall be levied and collected by the ..... the finance distribution order then in force, every state was entitled to a fixed percentage of the proceeds of income-tax which did not vary with the income-tax collected in the state. moreover, there was nothing in the income-tax act of 1922 under which a company was to be assessed at the place where its registered office was situate ..... proposition that a company is necessarily assessable at the place where its registered office is situate. as we have already said, there is nothing in the income-tax act of 1922 or of 1961 under which a company is to be assessed at the place of its registered office.22. in these circumstances, we are .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1963Cal281
..... and liabilities) order in connection with an assessment proceeding against the state of tripura. the contention was that under the bengal agricultural income tax act, 1944, no ruler of an indian state could be taxed under the provisions of that act. the supreme court proceeded on the assumption that the averments in the plaint were correct and held that the words ' ..... on behalf of the petitioner, mr. roy put the matter a little differently and he argued that the issue of the notice under section 34 of the income tax act in the present case amounted to a civil wrong inasmuch as the department had no jurisdiction to issue the notice. the contention has been that the question ..... 133 of the constitution in respect of a division bench decision whereby an order dismissing a writ application for quashing a notice under section 34 of the indian income tax act was affirmed.2. the facts requiring to be stated for the limited purpose of this application are these: the petitioner was a partner of a firm .....
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