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Daulatram Rawatmull Vs. Commissioner of Income-tax, Central

Court : Kolkata

Reported in : AIR1967Cal547,[1967]64ITR593(Cal)

..... commr. of income-tax, : air1954bom234 .' 34. the rest of the judgment of the gujrat high court deals with the effect of the amendment made in section 34 by the finance act, 1966, with which we are not concerned in the instant case. we have dealt with the judgment of the gujrat high court at great length because the learned ..... the gujrat high court was not the same as the question before us. the gujrat high court, however, considered the legal position prior to the amendment of section 34 by the finance act, 1956. it is for this reason that the decision of the gujrat high court calls for careful consideration. 27. the learned judges of that high court ..... the notice in that case was issued under clause (a) of sub-section (1) of section 34 on 31st january 1962, and the question for consideration was whether after the amendment by the finance act, 1956, a notice could be issued under clause (a) of sub-section (1) of section 34 for reopening any assessment for any of the assessment years covered .....

Dunlop India Limited (No. 2) Vs. Assistant Commissioner of Income-tax ...

Court : Kolkata

Reported in : [1990]183ITR532(Cal)

..... on the revenue's appeal, the above observations have been made, apart from indicating that the recent insertion of the new explanation 2 to section 43b by the finance act, 1989, with retrospective effect from april 1, 1984, does not, in any manner, affect the non-applicability of the main provisions of ..... which the provisions of section 43b and various amendments therein were introduced from time to time. the first proviso to section 43b which was inserted by the finance act, 1987, to obviate unnecessary disallowance of the amount of sales tax for the quarter is merely ..... will be applicable only from the assessment year 1988-89. since the aforesaid proviso inserted by the finance act, 1987, merely clarifies the real legislative intention, the same should be made applicable ever since the provision of section 43b was introduced. such an interpretation will be perfectly in consonance with the object and spirit with .....

Abhoy Chandra Bakshi Vs. Commr. of Service Tax, Kolkata

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Kolkata

..... is an application filed seeking waiver of pre-deposit of service tax of rs.57.90 lakhs and penalty of equal amount imposed under section 78 of the finance act and rs.5,000/- under section 77 of the finance act, 1994. 2. the ld. chartered accountant for the applicant submits that the entire service charges on which demand has been confirmed relates ..... account of maintenance and repair of roads. it is their contention that the said services were retrospectively exempted from levy of service tax by virtue of section 97 and 98 of the finance act, 2012. we find that the facts whether the entire services were relating to repair and maintenance of roads, needs to be ascertained by the ld. ..... he submits that the period involved in the present case is from 2005-2006 to 2006-2007. he submits that in view of the retrospective amendment, vide section 97 and 98 of the finance act, 2012, no service tax is leviable on the repair and maintenance service of roads. 3. per contra, the ld. a.r. for the revenue .....

Commissioner of Income-tax Vs. Radha Nagar Cold Storage (P.) Ltd.

Court : Kolkata

Reported in : (1980)18CTR(Cal)166,[1980]126ITR66(Cal)

..... this court the question as mentioned hereinbefore.5. before we consider the question further it may be necessary to refer to the definition of the relevant finance act, namely, the finance act, 1968. section 2(6), clause (d), defined 'industrial company' as follows :' 'industrial company' means a company which is mainly engaged in the business of ..... the assessee-company was engaged in the processing of goods and was accordingly an industrial company within the meaning of section 2(6)(d) of the finance act, 1968, or under section 2(6)(c) of the finance act, 1969 ?'2. the assessee-company has been engaged in the business of running a cold storage plant. its ..... that handling was processing and dealt with the dictionary meaning of the expression 'processing '.14. in the case of addl. cit v. chillies export house ltd. : [1978]115itr73(mad) , the madras high court was concerned with a different question. there, the assessee, an exporter of chillies, purchased the chillies, sorted them, graded them .....

Commissioner of Income-tax Vs. Jasrup Baijnath and Sons (P.) Ltd.

Court : Kolkata

Reported in : [1971]82ITR513(Cal)

..... where the company found that its capital was in excess of the requirements of the company, is dividend under the income-tax act read with or without the finance act.19. section 2(6a) of the income-tax act says :'dividend includes- (a) any distribution by a company of accumulated profits, whether capitalized or not, if such distribution entails ..... of deemed dividend as the section itself provides. in order to succeed, therefore, the revenue has to establish in this case that the dividend taken to be dividend in this case was a dividend according to prescribed arrangements within the meaning of proviso (i)(a) of paragraph d of the finance act quoted above. on the facts ..... with super-tax on such deemed dividend, is section 23a of the income-tax act. clause (b) of proviso (i) of paragraph d of part ii of the finance (no. 2) act, 1957, expressly mentions sub-section (9) of section 23a which means that no part of section 23a of the income-tax act applies to a company in which public are .....

Seth Sukhlall Chandanmull Vs. A. C. Jain, Income-tax Officer, and Anot ...

Court : Kolkata

Reported in : [1958]34ITR82(Cal)

..... income-tax cannot equally reasonably be re-classified or sub-divided for the purposes of super-tax.i, therefore, hold that finance act, 1951, as applicable to the finance act, 1954, under section 2 of the finance act, 1954, is not ultra vires the constitution and does not infringe the right of equality before the law or the equal ..... basis of the assessment made, the income-tax officer applied the different rates of income-tax, surcharge and super-tax prescribed by the finance act of 1951 as applicable to the finance act, 1954, for the said assessment year. dr. pal appearing for the appellant has challenged the validity of progressive and graduated system of tax ..... protection of the laws. i hold further that the finance act is not ultra vires the constitution and the rates imposed thereunder are neither .....

Commissioner of Wealth-tax Vs. Champa Properties Ltd.

Court : Kolkata

Reported in : [1994]206ITR567(Cal)

..... it be said that undischarged liabilities towards municipal taxes can be treated as a debt secured on one or more assets taxable under clause (viii) of sub-section (3) of section 40 of the finance act, 1983. none of the clauses (i) to (vii) is applicable to the facts of this case. the assessee has not, by reason of not ..... . but the undischarged liabilities towards municipal taxes could not be treated as a debt secured on one or more assets taxable under clause (viii) of sub-section (3) of section 40 of the finance act, 1983. it accordingly held that the assets mentioned by the assessing officer like advances to parties, shares or deposits in banks, etc., were clearly not ..... the tribunal was right in law in holding that rs. 5,13,566 and rs. 5,88,138 could not be assessed to the wealth-tax under sub-section (3) of section 40 of the finance act, 1983, in the assessment years 1984-85 and 1985-86, respectively ?' 3. the facts leading to this reference are that the assessee, messrs. champa .....

Hamilton and Co. Pvt. Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Reported in : [1991]187ITR568(Cal)

..... and decided by the appellate authority. thus, there will be partial merger and not the merger of the whole order.25. by the finance act, 1988, the provisions of section 263 have been amended to clarify that the commissioner would be competent to revise an order of assessment passed by an assessing officer on ..... commissioner could direct' the income-tax officer to charge interest. according to the madhya pradesh high court, another distinguishable feature in singho mica mining co. ltd, : [1978]111itr231(cal) was that the commissioner directed the income-tax officer to compute and recover interest without disturbing the order of assessment.17. in general beopar co. p ..... commissioner. learned standing counsel relied upon the case of singho mica mining co. ltd. v. cit : [1978]111itr231(cal) . in this case, the income-tax officer had omitted to charge interest under section 217 and the commissioner in revision directed the income-tax officer to compute and recover interest although in the meantime .....

Mrs. Manju Kataruka Vs. Income Tax Officer

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2005)94TTJ(Kol.)873

..... orders of the authorities below and the materials on record.7. at this stage, we find it useful to set out the relevant provisions of the it act, 1961, the section 271f was inserted in the act by the finance act, 1997, w.e.f. 1st april, 1997 and it then stood as under: "271f. penalty for failure to furnish return of income--if ..... , he shall be liable to pay by way of penalty, a sum of five hundred rupees." 7.1 the aforesaid section 271f as inserted by the finance act, 1997, w.e.f. 1st april, 1997 was later substituted by the finance (no. 2) act, 1998, w.e.f. 1st april, 1999 as under : 271f. penalty for failure to furnish return of income ..... an answer to this question, one has also to take into consideration the intent and purpose of inserting section 271f in the act and the nature of penalty provided thereunder. as already observed above herein, new section 271f was inserted by the finance act, 1997 providing for levy of penalty for failure to furnish return of income within due date only on .....

Commissioner of Wealth-tax Vs. Sun Jute Press (P.) Ltd.

Court : Kolkata

Reported in : (1994)118CTR(Cal)236,[1993]203ITR350(Cal)

..... officer, however, brought to charge the value of certain leasehold properties on the ground that the leasehold property excluded from taxable wealth under sub-section (3) of section 40 of the finance act, 1983, which levies wealth-tax in respect of specified assets of closely held companies as the rental income from the leasehold properties had been ..... guided by the consideration that the revenue, having accepted the income from the subletting as income from business, cannot take the inconsistent view that, 'for section 40 of the finance act, 1983, the asset is an unproductive asset and not a business asset used by the assessee as a businessman.10. however, we find that ..... taken to be a commercial asset. it was further submitted that the leasehold interest in a building does not fall within clause (vi) of section 40(3) of the finance act, 1983. when confronted with the question whether this particular issue not raised before the tribunal could be pressed before this court in the reference, .....