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Apeejay Structural Works (P.) Vs. Inspecting Assistant

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (1984)10ITD542(Kol.)

..... for the year 1978-79 was also framed by the same officer on 30-1-1980. thereafter, the finance (no. 2) act, 1980 came into force and by that act section 80aa of the act was inserted in the act with retrospective effect from 1-4-1968. according to section 80aa, net amount and not the gross amount of the dividends is allowed to be ..... signal industry (p.) ltd. for the assessment year 1978-79-against the order of the commissioner of even date 8-1-1982 under section 263 of the income-tax act, 1961 ('the act'), common issues are involved and, therefore, they are disposed of by this common order.2. assessments of income of apeejay structural works (p.) ltd. for both the ..... deducted under section 80m of the act. since there was no such provision at the time of framing the assessments in .....

West Bengal State Warehousing Corporation Vs. Commissioner of Income-t ...

Court : Kolkata

Reported in : [1986]157ITR149(Cal)

..... . there, it was held that to claim exemption under section 10(29) (corresponding to section 83 since deleted by the finance (no. 2) act, 1967 with effect from april 1, 1968), it must be proved that the income derived by an authority constituted for the marketing of commodities is income which is derived ..... , then such income is not exempt under that clause. therefore, the income derived by the assessee, a corporation established under the warehousing corporations act, 1962, by way of commission charges for handling the work of loading and unloading of agricultural commodities from the fertillizer and food corporation of ..... commodities ; (c) arrange facilities for the transport of agricultural produce, seeds, manures, fertilisers, agricultural implements and notified commodities to and from warehouses ; (d) act as an agent of the central warehousing corporation or of the government for the purposes of the purchase, sale, storage and distribution of agricultural produce, seeds, manures, .....

The Islampur Municipality and anr. Vs. Chaudhuri M. Manjar Afaque and ...

Court : Kolkata

..... establishing markets for agricultural produce in the state of west bengal. accordingly, in the object it has been stated that earlier in the west bengal markets regulation act, 1968 there was some lacuna in the statute whereby the wholesale traders could be restrained to carry the business within the market yard and also in the market ..... and every phrase of the statute must have a meaning. reliance may be placed to the judgment passed in the case reserve bank of india v. peerless general finance and investment co. ltd. and ors. reported in : [1987]2scr1 , wherein in para 33 the apex court discussed the issue in the following language:interpretation ..... agricultural produce sold in the market area. section 17 reads such:17. levy of fee by market committee.- (1) notwithstanding anything contained in the bengal finance (sales tax) act, 1941 or any other law relating to taxation of agricultural produce in force, the market committee shall levy fees on any agricultural produce sold in the market .....

Commissioiner of Income Tax, Koliv Vs. M/S. Andaman Sea Food Pvt. Ltd.

Court : Kolkata

..... the recipient or consideration which would be income of the recipient chargeable under the head salaries . he also drew our attention to the explanation introduced by the finance act, 2007 with retrospective effect from 1st june, 1976 which provides as follows: explanation.- for the removal of doubts, it is hereby declared that for the purposes ..... mr.murarka is not of much significance either. before the explanation was added to sub-section (2) of section 9 of the act by the finance act, 2010, there was already an explanation introduced by the finance act, 2007 with retrospective effect from 1st june, 1976 which provides as follows: (i) explanation.- for the removal of doubts, ..... whether or not the non-resident has a residence or place of business or business connection in india. mr.murarka contended that the explanation added by the finance act, 2007 quoted above did not contain the provision whether or not the nonresident has rendered services in india. we fail to understand how can it be .....

Commissioner of Income-tax Vs. Blackwood Hodge (India) P. Ltd.

Court : Kolkata

Reported in : [1971]81ITR807(Cal)

..... for declaring dividends in any year, the income-tax officer had to recompute the tax by reducing the rebate originally allowed. again by section 35(11), as added by the finance act of 1958, development rebate in respect of a ship, machinery or plant under section 10(2)(vib) could be deemed to have been wrongly allowed if the ship, machinery or ..... company bears to the amount of income-tax payable by it on such profits and gains. similarly, under sub-section (10) of section 35, before it was deleted by the finance act of 1959, where a rebate of income-tax was allowed to a company on a part of its total income and subsequently the amount on which the rebate of income ..... would be apparent that under section 18(7) an order is made by which the income chargeable is computed and the tax leviable at the rate prescribed by the annual finance act in respect of such income is determined. and by virtue of that very order the assessee is treated as an assessee in default in respect of the tax payable. in .....

Commissioner of Income-tax Vs. Texmaco Ltd.

Court : Kolkata

Reported in : (1982)29CTR(Cal)64,[1983]141ITR531(Cal)

..... of replacements is allowed as deductions in lieu of depreciation in respect of certain assets. by the amendments made by the income-tax (amendment) act, 1946, the finance act, 1955, and the finance act, 1956, certain initial depreciation was allowed in respect of bnildings newly erected or the machinery and plant newly installed. obviously, it was by way ..... this precise question came up for consideration bsfore the bombay high court in the case of burmah-shell refineries ltd. v. g. b. chand, ito : [1968]67itr653(bom) . there what happened was that the ito had computed the capital employed in an undertaking for the purpose of granting relief to the assessee under section ..... the bombay high court had held in the case of burmah-shell refineries ltd. : [1968]67itr653(bom) , to which we shall presently refer, that for the purpose of computing the capital employed under section 15c of the 1922 act, the written down value had to be worked out without deducting therefrom the initial depreciation. .....

Commissioner of Income-tax Vs. A.V. Joshi and Sons

Court : Kolkata

Reported in : [1986]158ITR71(Cal)

..... interest claimed on the said loans was allowed by the income-tax officer. the partners of the assessee-firm made a disclosure petition under section 68 of the finance act, 1965, declaring the amount covered by the said loans to the assessee-firm as their concealed income. by reason of the said declaration, the said loans must ..... contents of the disclosure petition submitted by the appellant and have found that the partners making the disclosure have surrendered for taxation under section 68 of the finance act, 1965, the interest on the loans brought into this firm and other firm's accounts in the garb of inclusion of the interest on bogus hundi ..... commissioner followed the order of the tribunal in the case of vijay industries, calcutta, where the tribunal held that the interest disclosed under section 68 of the finance act, 1965, by the partners was not once again includible in the firm's assessment. the appellate assistant commissioner held as follows :'i have also gone through the .....

Commissioner of Income Tax Vs. A. V. Joshi and Sons.

Court : Kolkata

Reported in : (1986)54CTR(Cal)99

..... parties. accordingly interest claimed on the said loans was allowed by the ito. the partners of the assessee firm made a disclosure petition under s.68 of the finance act, 1965 declaring the amount covered by the said loans to the assessee firm as there concealed income. by reason of the said declaration the said loans must be ..... petition submitted by the appellant and have found that the partners making the disclosure have surrendered for taxation under s. 68 of the finance act, 1965 the interest on the loans brought into this firm and other firms accounts in the garb inclusion of the interest on bogus hundi loans amounting to rs. ..... . the aac followed the order of the tribunal in the case of vijay industries. calcutta where the tribunal held that the interest disclosed under s. 68 of the finance act, 1965 by the partners was not once again includible in the firms assessment. the aac held as follows :'i have also gone through the contents of the disclosure .....

Ms. Dharampal Satyapal Limited Vs. the Assistant Commissioner, Commerc ...

Court : Kolkata Appellate

..... 49. in the case before us, we are concerned with the assessment for the four quarters ending march 31, 2004 and thus, the amended provision of finance act, 2001 is applicable.7. therefore, in order to appreciate the question involved in this writapplication, it will be appropriate to refer to the following amended definition ..... was amended and by such amendment, pan masala, not containing tobacco, alone is assessable under tariff item no.2106. after the coming into operation of the finance act, 2001, pan masala, containing tobacco, was classified in chapter 24 as a tobacco product as stated in note-6 thereof and assessable under tariff heading 2404. ..... manufacture of pan masala, chewing tobacco, guthka or other tobacco products as provided in the central excise tariff act (the 1985 act). prior to the enactment of finance act, 2001, pan masala containing tobacco was classified in the 1985 act under chapter 21 as pan masala. note 3 of chapter 21 defined pan masala as a preparation containing .....

Chunilal Mulji Motani and ors. Vs. Commissioner of Income-tax

Court : Kolkata

Reported in : [1983]139ITR166(Cal)

..... forms a code, which has no operative effect except so far as it is rendered applicable for the recovery of the tax imposed for a particular fiscal year by a finance act. this may be illustrated by pointing out that there was no charge on the 1 938-39 income either of the appellant or his daughters, nor assessment of such ..... which we are not concerned. we must, however, observe that our attention was drawn to the observations of the supreme court in the case of cit v. jayantilal amratlal : [1968]67itr1(sc) where at p. 10 of the report, explaining the meaning of the proviso (1) to section 16(1)(c), the supreme court observed as follows:' what then ..... 1, 1961. the ito, accordingly, included the entire income from the property, ' kamani mansion ', in the computation of the settlor's total income. for the next assessment year, viz., 1968-69, for which the previous year ended on april 28, 1967, the ito included the net property rental from the trust property for a period of six months only as .....