Court : Kolkata
Decided on : Aug-10-1978
Reported in : [1981]129ITR560(Cal)
..... enquiring the genuineness of a loan shown by a third person, who alleges that the money was received from a person who may be a declarant under the said finance act. the enquiry will be necessarily confined to the question as to whether in fact the loan was received from the declarant. the enquiry cannot go further and the ..... from the end of the assessment year in which the income was first assessable, where such assessment year is the assessment year commencing on the 1st day of april, 1968; (iii) two years from the end of the assessment year in which the income was first assessable, where such assessment year is an assessment year commencing on or ..... also as in the return filed on september 7, 1967, the assessee herself had made the endorsement ' revised '. accordingly, he held that the assessment made on september 3, 1968, was sustainable under section 153(1)(c). he had further that as proceedings had been started under section 271(1)(c) by the ito for concealment of income, the assessment .....
Tag this Judgment!Court : Kolkata
Decided on : Aug-25-1978
Reported in : [1978]42STC398(Cal)
..... cause as to why security of rs. 50,000 should not be demanded from him under section 7(4a)(ii) of the bengal finance (sales tax) act, 1941, for proper use and safe custody of declaration forms.2. thereafter, the additional commissioner states that show cause notice was ..... am of the opinion that it is a fit case for demand of security under section 7(4a)(ii) of the bengal finance (sales tax) act, 1941, in the context of what has been stated earlier. i am also of the opinion that it would be fair ..... of rs. 50,000 in the instant case under section 7(4a)(ii) of the bengal finance (sales tax) act, 1941.3. the propriety of this order is challenged in this application. the commissioner may under section 7(4a)(ii) of ..... any undertaking supplying electrical energy to the public under a licence or sanction granted or deemed to have been granted under the indian electricity act, 1910 (9 of 1910), reasonable security for the proper use and safe custody of the forms referred to in the proviso to clause .....
Tag this Judgment!Court : Kolkata
Decided on : Aug-25-1978
Reported in : [1978]42STC458(Cal)
..... the division bench of this court in b. c. nawn & bros. private limited [1973] 31 s.t.c. 379. i hold that assessment under the bengal finance (sales tax) act, 1941, is an annual assessment and can be made only for an annual period. the statute does not provide for one comprehensive or consolidated assessment for several years. this ..... it did not raise objection in appeal or in revision should not be a ground for exercising the discretion of the court against the assessee.14. the bengal finance (sales tax) act, 1941, is a fiscal statute and it fixes a liability on the subject. the provisions of a fiscal statute have to be strictly construed and applied. with ..... section, west bengal v. b. c. nawn & bros. private ltd. [1973] 31 s.t.c. 379. here the respondent was a registered dealer under the bengal finance (sales tax) act, 1941 and its return period had been fixed by the assessing authority as each quarter of the 'akshoytritia year', according to the bengali calendar. it was liable to furnish .....
Tag this Judgment!Court : Kolkata
Decided on : Aug-30-1978
Reported in : [1979]120ITR872(Cal)
..... india) ltd. v. asst. cct . in this case it was held by a single judge of this court on construction of section 20 of the bengal finance (sales tax) act, 1941, that though the cct on his own motion could revise any order passed by subordinate assessing authorities after giving the assessee an opportunity of being heard, ..... pal pvt. ltd, v. member, board of revenue : air1976sc1545 . the facts in this case were that the appellant company, a dealer registered under the bengal finance (sales tax) act, 1961, was assessed to sales tax for the relevant period. the cto rejected the appellant's books of account, enhanced the gross turnover and imposed a penalty. ..... may end with his order or may be revised by the higher appellate authorities including the appellate assistant commissioner and the tribunal recognised by the income-tax act. if, therefore, such higher appellate authorities such as the appellate assistant commissioner or the tribunal directs or orders him to do something again with regard to .....
Tag this Judgment!Court : Kolkata
Decided on : Aug-31-1978
Reported in : AIR1979Cal50
..... 1940 pc 3, at pp. 5, 6) to show that the commissioner's report should not be rejected except on clearly denned and sufficient grounds. the court should not act as an expert and overrule the commissioner's report whose integrity and carefulness are not questioned and who did not blindly accept the assertion of either party. here the pleader ..... provisions of section 6 of the act. hence on that ground alone the suit will fail. since it was intermediary interest, the intermediary cannot, in the eye of law, retain the disputed land since the ..... (exts. 1 (a) and 1 (b)) show that the disputed property was a part of 'chukani jote'. so, it is a tenure. after the provisions of west bengal act i of 1954 came into force, the rights of the intermediaries vested in the state. the plaintiff has not proved that his vendor retained the disputed land according to the .....
Tag this Judgment!Court : Kolkata
Decided on : Sep-01-1978
Reported in : 1980(6)ELT582(Cal)
..... it is thus desirable to refer to this notification at length for appreciating its' true import and implication. the notification is set out hereunder :government of indiaministry of finance (department of revenue & insurance)new delhi the 30th april, 197510th vaisakha, 1978 (saka)notificationcentral exciseg.s.r. in exercise of the powers conferred by sub-rule ..... the said objections first of all. mr. sen contended that against the imposition of duty by the respondents the company could prefer an appeal under the act and when alternative remedy was available to the petitioner company, the petitioner company was not entitled to move the writ jurisdiction of this court on the face ..... pvt. limited v. ram krishna dalmia, reported in : [1973]2scr257 . in the said decision, the manufacturing purpose within the meaning of transfer of property act was considered by the supreme court and it was held by the supreme court that manufacture really implies a change but a mere change in the material is not .....
Tag this Judgment!Court : Kolkata
Decided on : Sep-08-1978
Reported in : [1979]44STC31(Cal)
..... to granting of concessional rates for certain classes of sales andthe said provisions are not exactly in pari materia with the provisions of thebengal finance (sales tax) act and the rules made thereunder relating todeclaration forms, which were considered by the aforesaid two previousdivision benches of this court and now being considered ..... grantedby the said buyers. respondent no. 1, being aggrieved by the said decision,had preferred an appeal under section 20(1) of the bengal finance (sales tax)act, 1941. the assistant commissioner, commercial taxes, north circle, by hisorder dated 28th october, 1972, dismissed the said appeal and confirmed theassessment of ..... 31st december, 1968, again disallowed certain deductions of sales toother registered dealers on the ground of certain alleged defects in thedeclaration forms relating to the said sales.3. thereafter, thecommercial tax officer had issued a notice under section 11 read with section14(1) of the bengal finance (sales tax) act, 1941, upon .....
Tag this Judgment!Court : Kolkata
Decided on : Sep-18-1978
Reported in : [1979]117ITR789(Cal)
..... which would qualify for allowance under section 37.10. the tribunal also found that the assessee required additional funds and obtained the said loan not only for financing its business but also to meet an immediate taxation liability of rs. 10 lakhs as admitted in the letter dated 18th january, 1965, addressed to the reserve ..... assessee had to incur an extra expenditure in rupees. this, according to mr. roy, was a normal and proper business expenditure allowable under section 37 of the act.17. mr. roy submitted next that as the assessee at the relevant time maintained its accounts under the mercantile system, this expenditure was incurred during the relevant ..... this court insutlej cotton mills ltd. v. cit : [1971]81itr641(cal) , that the loss inexchange having arisen due to devaluation, which was an act of the stateand an act of the sovereign, was not a loss springing directly from thecarrying on nor incidental to the carrying on of the business of the assesseeand, therefore, could not .....
Tag this Judgment!Court : Kolkata
Decided on : Sep-22-1978
Reported in : [1980]126ITR726(Cal)
..... the order imposing penalty '10. to appreciate the controversy in the instant case it is necessary to refer to the explanation to section 271(1)(c) inserted by the finance act, 1964, with effect from the 1st april, 1964. the said explanation is as follows :' explanation.--where the total income returned by any person is less than eighty ..... cases, the supreme court declined to answer the question referred, vide cit v.. george henderson and co. ltd. : [1967]66itr622(sc) and cit v. greaves cotton and co. ltd. : [1968]68itr200(sc) . cit v. indian molasses co. p. ltd. : [1970]78itr474(sc) . in raghunath prasad poddar v. cit : [1973]90itr140(sc) , the supreme court, however, answered ..... and, therefore, the penalty could be sustained irrespective of the cash credit.7. it was also contended that under the explanation to section 271(1) of the act of 1961, introduced with effect from the 1st april, 1964, the assessee would be caught within its mischief in respect of the proceedings in issue.8. the .....
Tag this Judgment!Court : Kolkata
Decided on : Sep-25-1978
Reported in : [1979]117ITR858(Cal)
..... not realise anything from the latter.7. it was contended on behalf of the revenue, inter alia, that under the agreement the assessee was under no obligation to provide finance to tukvar & co. ltd. and, therefore, the guarantee was not given for any business purpose. consequently, the loss arising could not be said to have been ..... was incidental to the assessee's business though the assessee's furnishing of such guarantee may be termed as imprudent. (c) there was no suggestion that the assessee acted with any ulterior motive. 9. the tribunal also found that the compromise between the assessee and tukvar & co. ltd., as a result of which the assessee did ..... messrs. williamson magor & co. ltd. in the assessment year 1964-65, the relevant previous year having ended on the 31st december, 1963. the assessee, inter alia, acts as managing agents, secretaries and/or treasurers of other limited companies and at the material time had been appointed as the secretary of one tukvar & co. ltd. under an .....
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