Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1987)21ITD607(Kol.)
..... (v) to (vii) with the explanation were inserted by the finance act, 1976 w.e.f. ..... that the agreement dated 18-4-1980 was really a continuation of the earlier agreement dated 19-7-1974 and as such under the proviso to section 9(1)(vi) of the act the royalty payable under this agreement dated 18-4-1980 is not be treated as income of the assessee and as such is not taxable. ..... opinion that the amount was to be taxed at 40% under section 115a(1)(ii)(2) of the act and the assessee and the cit(a) were of the opinion that it was to be taxed at 20% under section 115a(1)(ii)(1) of the act, both the ito and the cit(a) went to consider clauses (i), (ii) and (iii) of explanation 2 to section 9(1)(vi) [and not to section 9(1)(vi) of the act as erroneously stated by the cit(a) and in the grounds of appeal of the department ..... of paragraph (1) of article xvi are sufficient to show that the provisions of the act are to apply to all assessments and taxation except in case of contrary provisions contained ..... he contended that the parliament could not change the definition of 'royalty' by amendment of the act so as to take it outside the purview of "industrial or commercial profits" under article iii of the agreement.in support of this contention he relied on the ..... when both the parties agreed that it was to be taxed under section 115a(1)(ii) of the act [though there was dispute between the parties whether sub-clause (i) and sub-clause (iii) shall apply] impliedly they accepted the position that the .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1991)38ITD620(Kol.)
..... present cases, when the incomes were computed, the status of the assessee was known, the rates of tax were known from the finance act, it was not necessary to give the details of computations for the validity of the assessment orders. ..... of section 292b with effect from 1-10-75 and hence those decisions are wholly inapplicable to the assessee's cases, where the assessment orders were passed after the introduction of section 292b of the act.the only authority available on facts obtaining in the present case, after the introduction of section 292b, is the decision in r.giridhar's case (supra). ..... appeals filed by the assessce are against the common order of the commissioner of income-tax (appeals) dated 14-7-1987 for the assessment years 1981-82 and 1982-83 for which the previous years ended on 31-3-1981 and 31-2-1982 ..... tribunal, b-bench, calcutta, in its order dated 26-5-1987 in the case of manabendra nath pal [it appeal ..... in the written submission dated 27-2-1987 filed before the cit(a), attention of the cit(a) was drawn ..... before him.he filed a copy of the written submission dated 27-2-1987 filed before the cit(a). ..... to the ito for computation of tax in accordance with the law in the assessment order.the said order dated 25-5-1987 of the tribunal is erroneous. ..... 2722 (cal) of 1987] held that the matter covered by section 214(1) is not appealable and that the remedy to the assessee would be by way of revision under section 264 to the ..... the cases cited in the written submission dated 27-2-1987. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1992)42ITD481(Kol.)
..... clause was inserted by the finance act, 1987, with effect from 1-4-1988. ..... he pointed out that the calcutta high court, in the first of the above decisions, held that in order that an assessee can be taxed on the income from property under section 9 of the ft act, 1922, which was the same as section 22 of the it act, 1961 he should be found to be the legal owner of the property and in the absence of a registered sale deed conveying the title to the assessee the income cannot be taxed under the head ' ..... accepted in the light of the decision of the calcutta high court in madgul udyog's case (supra).the answer to this argument is again that the high court has interpreted the word "owner" appearing in section 22 of the act to include persons who have paid the purchase price and are in actual possession or enjoyment of the immovable property awaiting the "husk of title" over the property to be conveyed to them. ..... now, in that case, the supreme court formulated the following guidelines for bringing to tax income under the head "property" under section 9 of the 1922 act:-- (i) section 9 seeks to bring tp tax income of the property in the hands of the owners; (ii) therefore, the focus of that section is on the receipt of the income; (iii) the meaning to be given to the word "owner" in section 9 must not ..... bilas razdan [1987] 22 itd 567, where on identical facts, the tribunal had held that the income from the property was assessable under section 56 of the act under the head "other sources .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1995)52ITD166(Kol.)
..... was introduced by the finance act, 1978 with effect from ..... we have not been referred to any notice issued by the assessing officer before he brought the additional compensation to assessment in his order dated 18-5-1987.there is no discussion in this order regarding the facts relating to the assessment of the additional compensation except that the same has been brought to ..... what the revenue says is that even if it is accepted that the assessing officer cannot include the additional compensation in the order dated 18-5-1987 which was passed to give effect to the tribunal's order, the power to assess the additional compensation must be held referable to section 155(7a) and should ..... therefore, even assuming that the order dated 18-5-1987, insofar as it relates to the assessment of the additional compensation, is construed as an exercise of the power of the assessing officer under section 155(7a) of the act, the power has not been exercised after following the procedure prescribed by section 154(3) and, ..... stated that the inclusion of the amount of additional compensation in the order dated 18-5-1987 must be taken as a mere irregularity or a curable defect in view of section ..... the assessing officer cannot bring to tax the additional compensation by the order dated 18-5-1987 passed under section 254 read with section 143(3). ..... claim of the revenue that to the extent of taxing the additional compensation the order dated 18-5-1987 should be treated as an order passed under section 155(7a). .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1996)59ITD220(Kol.)
..... inserted by the finance act, 1972, ..... loss has been allowed to be carried forward by the ito the business loss cannot be automatically carried forward and absorbed in the case of the partners, firstly because there is no such scheme or provisions in the act and secondly, carry forward of business loss was wrongly allowed by the ito in the case of the firm.our answer to question no. ..... cal) and submitted that the legal contention of the assessee before the tribunal is that as return of the firm m/s aicam india in which the assessee-company is a partner was filed within the 30th june, 1987, and the ao of the firm has allowed the loss to be carried forward in view of the provisions of s. ..... the above provisions it is evidently clear that for claiming the business loss to be carried forward the assessee should have filed the return of loss on or before 30th june, 1987, but in fact, the assessee has filed the return on loss on 10th feb ..... omitted by the direct tax laws (amendment) act, 1987, w.e.f ..... ., 1988, while it was due on 30th june, 1987.according to the cit(a) as the return of loss was not filed within the time ..... 139(3) by 31st july, 1987, the ao is justified in rejecting the assessee's claim of carry forward ..... ..... june, 1987. ..... 1987-88; list of case law relied upon and copy of decision of the calcutta high court in the case of sudhangshu sakkar ..... 1987-88 on the following grounds : "(1) because that the learned cit(a) erred in law as well as in facts in holding that the business loss .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (2002)82ITD239(Kol.)
..... in force' which, in turn, has been explained under section 2(37a)(iii) as follows : "for the purposes of deduction of tax under section 195, the rate or rates of income-tax specified in this behalf in the finance act of the relevant year or the rate or rates of income-tax specified in an agreement entered into by the central government under section 90 whichever is applicable by virtue of the provisions of s. ..... to a rate lower or a scope more restricted than that provided in the convention between india and france on the said items of income; now, therefore, in exercise of the powers conferred under section 90 of the it act, 1961 (43 of 1961), the central government hereby directs that the following modifications shall be made in the convention notified by the said notification which are necessary for implementing the aforesaid convention between india and ..... it is difficult to comprehend as to how the central government can unilaterally amend, in exercise of the powers under section 90 of the it act, a bilateral agreement that a dtaa inherently is, but, for the present purposes and for the reasons we shall now state, it is not even necessary to be drawn into that controversy about ..... in fact the dtaa which have been entered into by the central government under section 90 of the it act, 1961, also provide that the laws in force in either country will continue to govern the assessment and taxation of income in the respective country except where provisions to the contrary have .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1982)1ITD857(Kol.)
..... 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 assessee have to be deducted in computing its net wealth for ..... he further argued that the view of the aac that the tax payable should arise from an order passed under the income-tax act and the liability under section 192 read with section 200 does not arise from such an order and, hence would not be hit by section ..... in certain circumstances the tax can be determined as payable by the assessee, if not by way of a regular assessment but in pursuance of certain provisions of the act for taxation of income ; for example, the penal tax or additional income-tax levied under section 104 for none or inadequate payment of dividend vis-a-vis the statutory ..... there is no scope for extending the deeming provision contained in section 201 of the act for the purpose of section 2(m)(iii) of the wealth-tax act.in this view of the matter, the decision of the aac is quite justified and consequently does ..... has laid emphasis on the word "or" which appears after the phrase "in consequence of any order passed under" and before the phrase "in pursuance of this act" and urged that it is disjunctive in nature and one cannot conceive of an order which is not passed under the act but in pursuance of the act giving rise to a liability for payment of tax, interest or penalty. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1983)6ITD183(Kol.)
..... (supra) was that the undertaking of the 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 ..... , for whom approval under section 10(6)(vii)(a) of the income-tax act, 1961 ('the act') was obtained by the indian company. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1986)15ITD508(Kol.)
..... in short contrast to the above position, we find that section 4 of the finance act, 1983, states that 'the following clause shall be inserted and shall be deemed always to have been inserted ..... the explanation 2 to section 37(2a) was introduced by section 17 of the finance act, 1973 with retrospective effect from 1-4-1976. ..... in that case it was held that where a provision is enacted for the express purpose of explaining or clearing up issues as to the meaning of a previous enactment, such explanation should normally govern the earli:r act.such explanation is confined to the subject-matter of the prior enactment and the presumption is that it is retrospective. ..... we find that the explanation to section 263 like explanation 2 to section 37(2a) of the act begins with the words 'for the removal of doubts, it is hereby declared. . .' ..... the commissioner has stated that section 125a(4) of the act stipulates that where ah iac exercises the functions of an ito, any reference, in the act or the income-tax rules, 1962 ('the rules') to the ito shall be construed as reference to the iac ..... the explanation to section 263(1) is introduced by section 47 of the taxation laws (amendment) act, 1984 prospectively with effect from 1-10-1984 (this amending act received the assent of the president of india on 14-9-1984). ..... appeal has been filed by the assessee against the order dated 11-11-1983 of the commissioner passed under section 263 of the income-tax act, 1961 ('the act') for the assessment year 1978-79.2. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1986)18ITD551(Kol.)
..... sub-sections (3a) to (3d) of section 37 which contain detailed provisions in regard to the admissibility of advertisement expenses were introduced with effect from 1-4-1979 by the finance act, 1978.sub-section (3d) reads as under : in a case where an assessee has set up an industrial undertaking for the manufacture or production of any articles, nothing in sub-section (3a) shall apply in respect of any expenditure on advertisement, publicity or sales promotion ..... it has been pointed out that the words 'industrial undertaking' have not been defined either under the 1922 act or under the 1961 act and, consequently, the interpretation of the calcutta high court as aforesaid must be taken into consideration in judging the assessee's claim that it had set up an industrial undertaking for the manufacture or production of an article within the meaning of ..... the intention of the legislature in introducing the new sub-sections (3a) to (3d) to section 37 may be found from the finance minister's budget speech for 1978-79, the relevant portion of which reads as follows : extravagant and socially wasteful expenditure is often incurred on advertisement, publicity and sales promotion. ..... [1971] 80 itr 428 wherein at p.437 the words 'industrial undertaking' in the context of the indian income-tax act, 1922 ('the 1922 act') have been interpreted to mean 'any venture or enterprise which a person undertakes to do and which has relation to some industry or has some industrial consequences. .....
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