Court : Kolkata
Reported in : [1987]164ITR346(Cal)
..... or ordered an income-tax officer to do something further with regard to an assessment by way of revision or amendment, the income-tax officer must be held to be still under section 23 of the indian income-tax act, 1922, for assessing the total income of the assessee and determining the sum payable on the basis of the ..... it was apparent from the records that the income-tax officer had proceeded under section 154 of the act of 1961. no alteration or amendment had been made in the proceedings to show that the same had been initiated and continued under the old act. therefore, it could not be held that the appeal to the appellate assistant commissioner was incompetent.19 ..... had accepted the same and the appeal had been filed under the provisions of the act of 1961, and not under the provisions of the act of 1922, without any objection from the revenue. no amendment was sought for to bring on record the sections of the act of 1922.12. it was further contended that the sum out of which dividends .....
Tag this Judgment!Court : Kolkata
Reported in : (1986)56CTR(Cal)277,[1987]165ITR546(Cal)
..... purpose of relief under section 80j, the accrued proportionate interest on borrowed capital has to be excluded in view of the fact that the retrospective nature of the amendment of the finance act, 1980, has been challenged before the hon'ble supreme court ? 5. whether, on the facts and in the circumstances of the case, the tribunal was ..... the purpose of relief under section 80j, the accrued proportionate interest on borrowed capital has to be excluded in view of the fact that the retrospective nature of the amendment of the finance act, 1980, has been challenged before the. hon'ble supreme court ? 3. whether, on the facts and in the circumstances of the case, the tribunal was ..... assessee, to income-tax in the assessment years 1973-74 to 1975-76. on an application of the revenue under section 256(1) of the income-tax act, 1961 (' the act'), the following question has been referred as a question of law arising out of the order of the tribunal in the assessment year 1975-76 for the opinion .....
Tag this Judgment!Court : Kolkata
Reported in : (1986)56CTR(Cal)146,[1987]165ITR678(Cal)
..... have to be considered.5. the controversy raised in question no. 3 referred at the instance of the revenue is covered by the amended section 35(2)(iv). the relevant amendment was effected by the finance (no. 2) act, 1980-- [1984] 124 itr 69, with retrospective effect from april 1, 1962. in view of the provisions of the said section ..... india ltd. v. cit : [1983]144itr317(cal) . following the said decision, we answer the question by stating that the surtax paid under the companies (profits) surtax act, 1964, is not an allowable deduction in computing the taxable income of the assessee.8. the reference is disposed of accordingly. in the facts and circumstances, there will be ..... to depreciation, their written down value would be taken into account. the written down value of the assets has to be determined in accordance with the income-tax act, 1961. in the case of assets acquired during the accounting year, written down value means the actual cost to the assessee. in the case of assets acquired .....
Tag this Judgment!Court : Kolkata
Reported in : [1987]166ITR299(Cal)
..... assessee preferred an appeal to the appellate assistant commissioner. the appellate assistant commissioner considered and construed the explanation to rule 1 of schedule ii to the surtax act and held that a sinking fund should be excluded from the computation ofcapital for the purpose of surtax. he found that the debenture redemption reserve in the ..... court was whether a debenture sinking fund constituted a reserve for the purpose of computation of capital of the assessee under the second schedule to the super profits tax act, 1963. a division bench of this court considered the principles of accountancy involved and in particular noted the following (at page 119) : (i) spicer & ..... courts and also the supreme court, it was held that a debenture sinking fund constituted a reserve for the purpose of computation of capital under the super profits tax act, 1963. (b) cit v. national rayon corporation ltd. : [1986]160itr716(bom) . in this case, the question before the bombay high court was whether .....
Tag this Judgment!Court : Kolkata
Reported in : [1988]70STC273(Cal)
..... ) no dealer shall realise from his purchaser the turnover tax payable by him under this section.7. section 6b was inserted in the bengal finance (sales tax) act, 1941 by an amendment with effect from 1st april, 1979. section 6b makes it clear that it is a tax payable by a dealer 'in addition to the tax payable by him ..... to uphold the argument advanced by mr. s.c. bose, on behalf of the petitioner, that 'gross turnover' must mean taxable turnover as defined in section 4 of the act, for the purpose of levy of turnover tax.14. on behalf of the petitioners, it was further contended that the construction suggested by the petitioners would be equitable, otherwise ..... any given period. there is no reason to hold that the 'turnover' will not include sale price of goods included in the column 1 of schedule i to the act.10. section 5(2) has defined 'taxable turnover' to mean that part of gross turnover during any period which remains after deducting therefrom various categories of turnover enumerated in .....
Tag this Judgment!Court : Kolkata
Reported in : (1988)67CTR(Cal)21,[1988]169ITR162(Cal)
..... city and cannot be included in his total income. learned counsel also urged that even taking into consideration the explanation to section 10(14) inserted by the subsequent amendment act, the same would not come within the scope of the said explanation and as such cannot be included within the scope of his total income. dr. pal ..... with retrospective effect. it is the contention of the revenue that the view taken by the tribunal is not correct in view of the amendment made as aforesaid. the said explanation inserted by the amendment act, according to the revenue, shall be deemed always to have been there and as such the assessee is not entitled to the relief ..... assessee's case cannot come within the computation section nor within the charging section. therefore, it is not necessary to consider the case with reference to the amendment of section 10(14) of the act. in this connection, learned counsel relied on the decision in the case of nalinikant ambalal mody v. s. a. l. narayan row, cit : [ .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1988Cal336
..... sold after 5th sept. 1959 under section 6 of the statute the purchase price whereof had not been determined prior to the commencement of the amending act. the amending act further provided that every option to purchase the electricity undertakings exercised by the appellant and every delivery of such undertaking effected by the licensee to ..... ).80. (f) tara prasad singh v. union of india reported in : [1980]3scr1042 . in this case it was held by the supreme court that the 44th amendment act amending the constitutioncame into force prospectively with effect from the 20th june 1979.81. (g) ishwari khetan sugar mills (p) ltd v. stale of u.p. reported in ..... 6) where a notice exercising the option of purchasing the undertaking has been served upon the licensee before the commencement of the indian electricity (bihar amendment) act, 1974 (bihar act xv of 1975) and the undertaking has been purchased thereafter the amount payable to the licensee on account of the purchase of the undertaking shall be .....
Tag this Judgment!Court : Kolkata
Reported in : 1988(18)ECC108
..... the indian standard institution as something different from fabric which has not undergone the bleaching operations and the processes of bleaching, dyeing and printing which have been incorporated by the amending act in 'the definition of term 'manufacture' are not so alien or foreign to the concept of 'manufacture' in entry 84 of list i that these could not come ..... cash price of the excisable article at the factory gate. it was claimed and contended by mr. mukherjee that in view of the true position under the said act as amended by act xxii of 1978 and as set forth in paragraph 48(1) of the report, the particulars of which have been quoted earlier, the determination has no relevance or ..... the measure of the levy. the original section 4 and the new section 4 satisfy this test and the true position under the central excises and salt act, 1944 as amended by act 22 of 1973 can be set forth as follows:(i) the price at which the excisable goods are ordinarily sold by the assessee to a buyer in .....
Tag this Judgment!Court : Kolkata
Reported in : [1989]73STC277(Cal)
..... firm v. state of tamil nadu reported in air 1985 sc 12 constitutional validity of the provision of section 2 of the tamil nadu additional sales tax (amendment) act, 1976 was under challenge. that section provided forlevying additional tax on the basis of taxable turnover. if the taxable turnover exceeded rs. three lakhs but did ..... ') and the provisions of section 4aaa of the west bengal sales tax act, 1954 (hereinafter referred to as 'the act of 1954') which were incorporated in the said acts respectively by the bengal finance (sales tax) amendment act, 1979 (hereinafter referred to as 'the 1979 amendment').3. learned counsel appearing for the appellants and the writ petitioners have ..... buyer, which can happen, either when he is specifically prohibited for recouping himself as is envisaged by section 6b(4) or it may arise from an amendment of taxing act, making the imposition of tax or additional tax to take effect from a back date, [see in this regard air 1958 sc 756 (konduri buchirajalingam .....
Tag this Judgment!Court : Kolkata
Reported in : 1988(18)ECC180
..... present petitions are concerned within the definition of the word 'manufacture'. the petitioners challenged the validity of the central excises and salt and additional duties of excise (amendment) act, 1980. the question for determination were: (1) whether processes conducted and carried on by the petitioner in respect of cotton fabrics and woollen fabrics/man-made ..... taxable under item no. 22 only. in fact, mr. bhattacharjee, on the basis of the incorporation of the product 'package tea' since 1953 by the amendment act as mentioned hereinbefore, claimed that since package tea has been included in the schedule/tariff, the imposition or levy as made, was due and proper, since that ..... excise duty is payable on such scrap, the imported brass scrap is subjected to the additional duty in order that indigenous brass scrap may not suffer in competition with the imported brass scrap. the fact that the articles imported by the importers in this case have been reduced to scrap by reason of damage, .....
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