Court : Kolkata
Decided on : Apr-04-1978
Reported in : [1979]117ITR422(Cal)
..... further, when he finds out that he or his predecessor got the law wrong and did not assess the income when it ought to have been. that appears in cenlon finance co. ltd. v. ellwood [1962] ac 782; [1965] 58 itr 255. i venture to quote what i said at page 799 : 'every lawyer who, in his ..... into the existing materials. in support of his contentions mr. sen cited the following decisions:(a) anandji haridas and co. (p.) ltd. v. s.p. kushare, sto : [1968]1scr661 . in this case, the appellants who were registered dealers in iron and steel material had discontinued to file returns of their turnover asrequired under the central provinces and berar ..... it will be deemed that income chargeable to tax has escaped assessment where such incomehas been under-assessed or has been made the subject of excessive relief. under the act, income derived from the source 'business' has to be computed after allowing various deductions which are not allowable where the income is derived from the source 'house property .....
Tag this Judgment!Court : Kolkata
Decided on : Apr-04-1978
Reported in : [1978]48CompCas611(Cal),82CWN774
..... require the approval of the shareholders by a special resolution as provided in section 149(2a) of the companies act, 1956. the company was a habitual defaulter in filing statutory documents while for defaults for financial years 1968-69 and 1969-70, prosecution cases were filed before the chief presidency magistrate, calcutta, in which the company ..... banerjee on february 21, 1975. it was stated therein that purchase price of rupees 16,82,703 was received by the company during april, 1966, to december, 1968. the board of directors invested the amount of rs. 16 lakhs with mantoshes who were not closely connected with bajorias against security of valuable landed properties at alipore ..... contending that the undertaking of the company was acquired on april 1, 1966, and the major part of the compensation or cost of acquisition was paid by 1968, so that the question of company being wound up on the ground of substratum having gone should have been filed within a period not beyond three years from .....
Tag this Judgment!Court : Kolkata
Decided on : Apr-04-1978
Reported in : [1978]42STC220(Cal)
..... the case, the deduction claimed under section 5(2)(a)(ii) of the bengal finance (sales tax) act, 1941, for sales to the registered dealers, namely, m/s. reliance supply agency and bharati distributors, aggregating to rs. 1,16,425 should have been allowed ?( ..... 1st december, 1959, directing that wires, galvanised barbed wires and wire-nails were to be considered as articles included in section 14(iv) of the central sales tax act, 1956 and, therefore, not subject to the state sales tax was produced by the assessee before the additional commissioner.9. the additional commissioner declined to interfere with the order ..... dipak kumar sen, j.1. under section 21(1) of the bengal finance (sales tax) act, 1941 (hereinafter referred to as the said act), the west bengal commercial taxes tribunal has drawn up a statement of case and has referred the following questions:(1) whether, in the facts and circumstances of .....
Tag this Judgment!Court : Kolkata
Decided on : Apr-03-1978
Reported in : [1979]116ITR416(Cal)
..... so as to pinpoint the real issue. in support of his contentions mr. b.l. pal cited a decision of the supreme court in cit v. smt. annsuya devi : [1968]68itr750(sc) . 11. mr. pranab pal in reply cited cit v. burmah shell oil storage and distribution co. of india ltd. : [1978]115itr891(cal) , where it ..... therefore, the appellate assistant commissioner cannot travel beyond the subject-matter of the assessment. in other words, the power of enhancement under section 31(3) of the act is restricted to the subject-matter of assessment or the source of income which have been considered expressly or by clear implication by the income-tax officer from the ..... empowered to make such further enquiry as he thought fit and also had power to confirm, reduce, enhance or annul the assessment and, therefore, in the instant case, he acted within his jurisdiction. in support of his contentions mr. b.l. pal cited cit v. rai bahadur hardutroy motilal chamaria : [1967]66itr443(sc) , where the following observation .....
Tag this Judgment!Court : Kolkata
Decided on : Apr-03-1978
Reported in : AIR1978Cal392
..... for the opp. party, argued that a memorandum of appeal is not equivalent to an appeal and in this connection he has referred me to the decision reported in : [1968]1scr505 (lakshmiratan engg. works ltd. v. aastt, commr. sales tax, kanpur) wherein the expressions appeal and memorandum of appeal have been interpreted as 'making an appeal is not ..... might be a provision in the statute that at the end of the period of limitation prescribed, the right would be extinguished as for example, section 28, limitation act, but there is none such here.'*****on the other hand, in conferring a right of appeal under section 30(1) and prescribing a period of limitation for the exercise ..... between what is a substantive right and what is a matter of procedural law. sir dinshaw mulla construing the word 'appeal' in the third column of article 182 limitation act, observed :there is no definition of appeal in the civil p. c. but their lordships have no doubt that any application by a party to an appellate court .....
Tag this Judgment!Court : Kolkata
Decided on : Mar-29-1978
Reported in : [1979]116ITR797(Cal)
..... questions of law or fact in the case.15. mr. sen lastly cited a decision of the gujarat high court in choohar-mal wadhuram (deed.) v. cit : [1968]69itr88(guj) . this was also a case of reassessment of the income of an assessee after his death. the notice under section 34(1)(a) of the indian ..... executor on behalf of all the legal representatives of the deceased were sufficient to sustain the assessment. the supreme court considered section 24b of the indian i.t. act, 1922, and found that under sub-section (2) thereof the ito was entitled to serve notices under section 34 on the administrator, executor or other legal representatives ..... not matter if the legal representatives were included in the assessment along with the executors. he drew our attention to the provisions of chap. xv of the i. t. act, 1961, and submitted that persons and bodies referred to therein, namely, legal representatives, guardians, agents of foreign principals and non-residents, executors, successors to a business, .....
Tag this Judgment!Court : Kolkata
Decided on : Mar-27-1978
Reported in : [1979]119ITR182(Cal)
..... 1972] 83 itr 563. this is a decision of the house of lords, where the house considered section 7(5) of the british finance act, 1894, which is in pari materia with section 36 of the e.d. act. (c) perpetual executors and trustees association of australia ltd. v. commissioner of taxes [1954] 25 itr (suppl.) 47. here the ..... the accountable person, reiterated the contentions of the assessee in the earlier proceedings. he also drew our attention to the following statutory provisions.14. the indian partnership act:' 14. the property of the firm.--subject to contract between the partners, the property of the firm includes all property and rights and interests in property originally ..... firm and the valuations thereof as the balance-sheet was merely an aggregation of such assets and liabilities.11. the tribunal held that the assistant controller had acted within law when he revalued the jute press and that the method of valuation adopted could not as such be challenged by the assessee. the valuer's .....
Tag this Judgment!Court : Kolkata
Decided on : Mar-23-1978
Reported in : AIR1978Cal332
..... nath banerjee has been a patient of the said hospital since 1959 till the date of which the certificate was granted. the date of the certificate is 4th november, 1968. the next document is a communication from the medical superintendent of the said hospital dated 23-11-1972 addressed to sri b. n. banerjee. it shows that jadabendra ..... dismissed inasmuch as the plaintiff failed to put in fresh pleading and make out the ground for eviction under clause (ff) of sub-section (1) of section 13 of the act. he relied upon the decision in b. banerjee v. anita pan, : [1975]2scr774 in support of his contention. it appears from the record that an application for amendment ..... lower appellate court took the view that as the sister was not residing in the disputed premises she was not a tenant within the meaning of west bengal premises tenancy act, and as such, her substitution was not required. in the aforesaid view of the matter the lower appellate court allowed the appeal in part and sent back the .....
Tag this Judgment!Court : Kolkata
Decided on : Mar-20-1978
Reported in : [1978]113ITR694(Cal)
..... director of the assessee-company and of a private company. the private company took up in 1948 the promotion of a textile mill and t financed the private company to the extent of rs. 6,05,072. the board of directors of the assessee-company approved the action taken by t ..... supreme court that the interest paid by the assessee-company was a permissible deduction under section 10(2)(xv) of the indian income-tax act, 1922. since the transaction of acquisition of assets was closely related to the commencement and carrying on of the business of the assessee-company ..... the transaction which resulted in the loss of rs. 42,327 was a revenue or a capital loss within the meaning of the income-tax act, 1961 ' 7. the principle as to how the matter is to be approached was laid down by the supreme court in commissioner of income ..... sudhindra mohan guha, j. 1. in this reference under section 256(2) of the income-tax act, 1961, the short point posed before us is ' whether the loss of rs. 42,327 incurred by the .....
Tag this Judgment!Court : Kolkata
Decided on : Mar-17-1978
Reported in : [1978]114ITR331(Cal)
..... 2, we have to consider the scheme of the provisions relating to annuity deposits. the scheme was originally introduced by the finance act, 1964, which incorporated chapter xxii-a in the income-tax act, 1961. under that chapter, taxpayers of certain categories were required to make deposits known as annuity deposits for assessment years commencing ..... annuity deposits. the appeals of the assessee were dismissed.4. being aggrieved the assessee has initiated the present reference under section 256(1) of the income-tax act, 1961, and the following questions have been referred :'1. whether, on the facts and in the circumstances of the case, -the appellate tribunal was ..... to loans raised for payment of annuity deposit by the assessee and such interest should be allowed as an expenditure under section 57 of the income-tax act, 1961. the appellate assistant commissioner held that an annuity deposit did not possess the characteristics of income assessable under the head ' other sources' and, .....
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