Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1982)1ITD1100(Kol.)
..... it did not credit to the government the tax deducted at source within the time permissible under rule 30. he, therefore, levied interest for delayed payment under section 201(1a) of the act. as per detailed calculations in the chart annexed to the order, he computed the amount of such interest at rs. 4,06,013 for which he ..... of the government in respect of each account. the assessee took objection, by its letter dated 1-7-1974, alleging that the obligation to deduct tax under section 195 of the act arose only at the time of payment and not at the time of credit of the interest. therefore, there was no default on its behalf. regarding the ..... [1978] 114 itr 116 which is directly in point. in this case, certain dividends had been declared by the assessee but the tax deducted therefrom had not been paid to the government account. the ito, therefore, treated the principal officer of the company to be an assessee in default under section 201(1) and levied penalty under section 221 of the act. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1982)1ITD160(Kol.)
..... 2-8-1962, the commissioner issued a notice to show cause to the assessee-respondent as to why the said assessments should not be cancelled under section 33b of the act as he felt that the completed assessments were erroneous as being prejudicial to the interests of the revenue and that the ito concerned had no territorial ..... tax on the finished product of the appellant's vanaspati factory from the date it gets power connection for commencing production. thereupon the appellant approached financiers for financing the project and initiated negotiations with manufacturers for the purchase of machinery for the factory. in december 1968, the chief secretary to government and advisor to the ..... . [1977] 108 itr 457 at page 461 (cal.), cit v. chrestian mica industries ltd. [1977] 109 itr 324 at page 332 (cal.), india sea foods v. cit [1978] 114 itr 124 (ker.) and banta singh kariar singh v. cit [1980] 125 itr 239 (punj. & har.).10. according to the senior departmental representative mr. ghosh, since .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1982)1ITD654(Kol.)
..... firstly held that the order of the collector of customs was not final and secondly, the confiscation order was passed on the infringement of the customs act read with section 3 of the import and export control act. it was thus in fact a penalty for infringement of law and expenditure will be illegal expenditure. it was disallowed. the learned commissioner (appeals) also ..... law, held that the goods were not of the description for which the import licence had been issued and, therefore, the import contravened section 111(d) of the customs act read with section 3 of the import and export control act. the goods were, therefore, confiscated, "absolutely". a similar order was made on 6-8-1973 with regard to 23 bales of the woollen ..... 1. this appeal by the assessee is directed against the order of the commissioner (appeals) dated 30-12-1978 relating to the assessment year 1974-75.2. the first issue in this appeal is regarding the sustention of the disallowance of rs. 1,67,586 made by the ito .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1982)1ITD1(Kol.)
..... instincts, such institutions were held to be for wholly charitable purpose as they were not confined to any particular religious community.9. taking us through explanation 3 to section 80g, shri bajoria pointed out that mere reference to religion was not sufficient to bring the case within the purview of explanation 3. explanations, on the other ..... purpose. lastly, shri bajoria has referred to the following observations of the gujarat high court in the case of cit v. swastik textile trading co. (p.) ltd. [1978] 113 itr 852 : held, that clause 4(g) should be viewed in the context of the entire charitable object of advancement of education, medical relief, helping the blind ..... of the 1961 act up to and including the assessment year 1979-80 though it was stated that no certificate under section 80g had yet been granted to the trust within his knowledge.11. the departmental representative then referred to the memo explaining the provisions in the finance (no. 2) bill, 1965, as a result of which .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1982)1ITD831(Kol.)
..... . at the time of hearing, the learned counsel for the assessee has specifically brought to our notice the provisions of section 12, as it existed during the year under consideration, and before amendment by the finance act, 1972, which came into force from 1-4-1973. according to him, the voluntary contributions received from mohini thapar ..... charitable trust would be liable for assessment if the income of that trust was exempt under section 11 and not otherwise. a copy of the assessment ..... trust with karamchand thapar & bros. (p.) ltd. exceeded 5 per cent of capital of that concern and, therefore, the exemption was hit by section 13(2) of the act. on the basis of this position, the learned counsel for the assessee contended that inasmuch as the income of mohini thapar charitable trust was not exempt .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1982)1ITD857(Kol.)
..... . this clause consequently does not apply to a case where any order of assessment or levy is passed. the purpose of sub-clause (hi) of section 2(m), as inserted by the finance act, 1959, with retrospective effect from 1-4-1957, is explained by the memorandum explaining the financial proposals as under : ordinarily, debts owing by the ..... the employee for and on behalf of the central government and, thus, treat him as an agent of the central government. according to sub-section (2) of section 201 of the income-tax act, the tax deducted but not paid together with simple interest payable thereon, if any, for delayed payment shall be a charge upon all the ..... deduct income-tax and pay it to the central government on behalf of the person from whose income the deduction was made within the prescribed time. section 201 of the income-tax act dealing with the consequence of failure to deduct or pay such tax deducted at source provides that the person responsible for paying income chargeable under the .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1983)3ITD359(Kol.)
..... 1-4-1968 was correct.5. the department disputes the direction of the commissioner (appeals) regarding deduction allowed by him under section 80m. a new section 80aa was introduced by the finance (no. 2) act, 1980, with retrospective effect from 1-4-1968. section 80aa shall be quoted later on. the supreme court pronounced a judgment in the case of cloth traders (supra). the decision ..... gross dividend income. it was indicated by sri guha that the provisions relating to dividend income are sections 8, 2(22), 194, 198, 199, 203, 56(2)(i) and 57(0 of the act. after referring to the decisions in cit v. raghunandan prasad moody [1978] 115 itr 519 (sc), cit v. cotton fabrics ltd. [1981] 131 itr 99 (guj.), cit.bagyalakshmi & co .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1984)8ITD349(Kol.)
..... '.5. from a comparative study of the provisions of sub-section (1a) of section 217 and sub-section (1) of section 215, it would be clear that, whereas sub-section (1a) of section 217 deals with the default of not filing the estimate of ..... the amount of tax deductible in accordance with the provisions of sections 192 to 194, section 194a, section 194c, section 194d and section 195) so far as such tax relates to income subject to advance tax and so far as it is not due to variations in the rates of tax made by the finance act enacted for the year for which the regular assessment is made .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1983)6ITD183(Kol.)
..... company to meet the tax liability of the non-resident company was in the nature of a benefit or perquisite contemplated by clause (iv) of section 28 of the act introduced by section 7 of the finance act, 1964 and that, for the period prior to the amendment, the benefit or perquisite was not liable to be charged to tax under the ..... head 'profits and gains of business or profession'.clause (iv) of section 28 was applicable to the assessment year under consideration and, therefore, the arguments on ..... as fees was on account of services of the technicians who were the employees of the hindusthan paper corporation ltd., for whom approval under section 10(6)(vii)(a) of the income-tax act, 1961 ('the act') was obtained by the indian company. the finding of the ito that dollars 41,271 were chargeable to tax was, thus, not .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1983)6ITD225(Kol.)
..... it could be taken that the amended law stood during the assessment year and the ito did not allow deduction correctly under section 80m. sections 80aa and 80ab were introduced in chapter via by the finance (no. 2) act, 1980, with retrospective effect from 1-4-1968 and 1-4-1981. it has been stated earlier that for reopening the ..... amounts kept in suspense account under the heads interest, commission, etc., would not be assessable to tax. he further urged that the circular of 1952 was withdrawn only in 1978. therefore, the circular was in existence during the assessment years 1972-73 and 1975-76. the kerala high court in cit v. b.m. edward, india sea ..... gross dividend.the commissioner (appeals) took into consideration the supreme court decision in cambay electric supply industrial co. ltd. v. cit [1978] 113 itr 84 and came to the conclusion that deduction under section 80m could not be allowed on the gross amount. he found that the bank charges 12 paise for 100 rupees as collection charges .....
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