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Deputy Commissioner of Income Tax Vs. B.P. Agarwalla and Sons Ltd.

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2003)86ITD219(Kol.)

..... since there was a difference of opinion amongst the members of bench in regard to the rate of depreciation applicable on vans used for transportation of explosives, the president of the tribunal has, accordingly, nominated me as third member under section 255(4) of the it act in regard to the point of difference formulated by the division bench as under : "whether, on the facts and in the circumstances of the case, the tribunal should have allowed depreciation @ 40 per cent or whether the tribunal should have ..... sneath 17 tax cases 149, 162 (ca)] the aforesaid principle holds good even if the assessment of an earlier year had been taken to the high court by way of a case stated under section 256, and the high court has answered the reference, the high court can only express an opinion on question of law. ..... it is fairly well-settled in law that there is no res judicata in the income-tax proceedings, though the principle of consistency should normally be maintained, unless there are strong reasons to depart from the stand taken in earlier assessment proceedings and unless the parties have allowed that position to be sustained by not challenging the earlier orders. ..... on the facts and in the circumstances of the case the learned cit(a)-x, calcutta, erred in holding that the assessee-company is entitled to depreciation on explosive van @ 40 per cent in place of 25 per cent allowed by the ao at the time of assessment and thereby directing the ao to allow the claim." 3. .....

Smt. Bhagwati Devi Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (1993)47ITD58(Kol.)

..... before ending we would like to emphasise that the purpose of filing appeals either under section 246 before departmental authorities or under section 253 of the income-tax act, 1961 before this tribunal is for redressal of grievances by affected parties by these two different appellate authorities and not for enhancement or addition to their already existing ..... according to assessee's counsel the essential conditions for making valid gift were present and complied with both by the donor and therefore, the assessing officer was not justified in holding that the gift was not genuine and was a collusive transaction. ..... the evidence in support of the assessee's claim and dealt with the issue from a totally different angle than that of the assessing officer holding that the gift was a collusive transaction and a device to evade tax. ..... no other ground or reason was mentioned by the assessing officer nor did he mention under which provision of the income-tax act such gifted sum was treated by him as income of the assessee from undisclosed ..... of the demand draft of the chartered bank in the name of the assessee and a copy of the income-tax assessment order of the donor from the income-tax department, - nepal. ..... agarwal notarised on 28-5-1986, a copy of the income-tax assessment order of donor of the income-tax department, kathmandu, nepal, which is in ..... facts giving rise to this controversy are that during the previous year relevant to the assessment year 1983-84 the assessee received a gift of rs. .....

Deputy Commissioner of Vs. Bengal Rowing Club

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (1994)48ITD512(Kol.)

..... 2 & 3 of the cross-objection, the assessee has questioned the reopening of the assessment under section 143(2)(b).however, these grounds were not argued at the time of hearing, the cross-objections are therefore ..... the assessment was originally completed under section 143(1), but later reopened under section 143(2)(b) of the act. ..... in the course of the assessment proceedings pursuant to the notice under section 143(2)(b), the assessee produced its books of account and other relevant details as required by the income-tax ..... pages 116 and 117 of the report, the high court held as under: the learned counsel for the revenue had referred to section 10(6) of the indian income-tax act, 1922, but this has no application to the present case. ..... fore-runner of this provision in the act of 1922 was section 10(6) thereof. ..... under section 28f (iii) of the income-tax act, 1961, income derived by a trade, professional or similar association from specific services performed for its members are taxable as income from ..... certain specific services, which are not privileges of membership.it is, therefore, not possible to countenance the proposition that the subscription paid by the members for the privileges and services enjoyed by them can be taxed under section 28 (iii) of the act.19. ..... decisions of the supreme court cited above were concerned with section 10(6) of the 1922 act. ..... , the learned commissioner of income-tax (appeals) has not considered the provisions of section 28(iii) of the income-tax act. 4. .....

Paharpur Cooling Towers Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Kolkata

..... we find that sub chapter 'set off, or carry forward and set off' in chapter vi of the income tax act begins with section 70 which, as it stood at the material point of time, is reproduced below for ready reference : "save as otherwise provided in this act, where the net result for any assessment year in respect of any source falling under any head of income is a loss, the assessee shall be entitled to have the amount of such loss set off against his ..... off, the amount of loss not so set off shall be carried forward to the following assessment year and so on : provided that where the whole or any part of such loss is sustained in any such business as is referred to in section 33b which is discontinued in the circumstances specified in that section, and, thereafter, at any time before the expiry of the period of three years referred to in that section, such business is re-established, reconstructed or revived by the assessee, so much of the loss as is attributable to such ..... it was in this background that assessing officer issued notice requiring the assessee to show cause as to why this mistake should not be rectified under section 154 of the act.37. .....

international Woollen Mills Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (1982)1ITD654(Kol.)

..... so far as the contention of the assessee with regard to the loss by confiscation of goods by the customs authorities is concerned, it may be noted that the reference to the judgment of the assistant director under the enforcement act does not carry much weight because any judgment by a collateral authority should not affect the judgment of the collector. ..... way of fines in lieu of confiscation of goods imported without valid licence was held to be expenditure not wholly and exclusively laid out for purposes of the business of an assessee and as such not deductible under section 37(1) of the income-tax act , 1961 by the calcutta high court. ..... year of the assessee relevant to the assessment year under appeal is financial year 1973 ..... books of account on mercantile system of accounting and its previous year is the financial year, which for the assessment year under appeal ended on 31-3-1974. ..... infringement either of import licence or any other 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. ..... of the goods was during the course of the previous year relevant to the assessment year under appeal.15. ..... during the course of assessment proceedings, the ito found that there was a debit of a ..... the assessee is directed against the order of the commissioner (appeals) dated 30-12-1978 relating to the assessment year 1974-75.2. .....

Deputy Commissioner of Vs. Lipton India Ltd.

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (1996)57ITD397(Kol.)

..... are called upon by the revenue in this appeal to decide whether the appellant commissioner of income-tax (a/c for short) was justified in directing the assessing officer to compute the interest under section 244(1a) in respect of the excess amount from the date on which such amount was collected by the assessing officer by garnishee action under sub-section (3) of section 226 of the act, the date on which the refund was granted and to pay the same to the assessee.2. ..... this amply enables the assessee to lay a claim for interest under section 244(1a) of the act particularly when the assessing officer has through the process of section 226(3) collected and recovered the amount due to the assessee-company by the chief commissioner of income-tax (technical), west ..... assessee-company in this case is, therefore, in our view clearly entitled to interest as provided under section 244(1a) of the act in respect of the excess amount from the date on which the amount from the date on which the amount was collected by the assessing officer by action under section 226(3) of the act to the date on which the refund was granted. ..... repeat, any other interpretation on the language of section 237 and section 244(1a) will frustrate the purpose and presence of those provisions itself.the assessing officer restricted his attention only to a few words appearing in section 244(1a) and did not read it conjointly with the threshold provisions contained in section 237 of the act in the chapter relating to refund. .....

Unique InvIn Ltd. Vs. Assistant Commissioner of Income

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2000)74ITD43(Kol.)

..... as regards the submission of the authorised representative that the profit on the same transaction was accounted for in the hands of other sister concern and was assessed as such, the cit(a) observed that it does not dislodge the ao's finding in this case insofar as the genuineness of the loss on share dealings is concerned. ..... it was also stated that the points made out by the ao in the assessment as well as in the subsequent report were not properly met and explained by the assessee. ..... 1990-91 was accepted by the same ao, in an order passed under s.143(3) of the act and this proves the genuineness of the transaction and the department cannot play hot and cold i.e. ..... in the case of the assessee, but for these transactions, the assessable income, as could be seen from the assessment order, is rs. ..... results of transactions disclosed by other parties to the purchase and sales were accepted in their assessments by the same ao. ..... thus assessment was made on total income of rs. ..... assessing officer found that the alleged transactions of purchase and sale of shares were peculiar enough, with reference to the dates of purchase and sale and the persons with whom transacted, etc. ..... it is well settled that strict rules of evidence act are not applicable to it proceedings. ..... it is well settled that under the it act, the ao is not bound by the rigours of evidence act. ..... 234a, 234b and 234c of the act. .....

Deputy Commissioner of Vs. Central Concrete and Allied

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2000)74ITD288(Kol.)

..... thus, although it follows from the judgment of the madhya pradesh high court in the case of jawaharlal nagpal (supra) that even if the appellate authority states that he sets aside the assessment, the setting aside may be from a limited angle and in that way may be partial only; whether, however, the setting aside would be partial or complete, would clearly depend upon the facts and circumstances, of each ..... on the basis of the above arguments and taking into consideration the reliance placed on different judgments, the cit(a) came to the conclusion that the assessing officer had acted in excess of his jurisdiction, while passing the fresh assessment order, in seeking to tax by way of disallowance the expenditure either in part or in full incurred under the above-mentioned three heads. ..... , the return made by the assessee or the assessment order of the income-tax officer with a view to find out new sources of income and the power of enhancement under section 31(3) of the (1922) act is restricted to the sources of income which have been the subject-matter of consideration by the income-tax officer from the point of view of the taxability. ..... it may be mentioned in this connection that in the original assessment, disallowance under section 40a(3) had been made in respect of cash payment to another concern, viz., m/s. r.b. ..... 3,07,000 for the assessment year 1986-87 under section 30a(3) of the income-tax act.3. .....

Paharpur Cooling Towers Ltd. Vs. Dy. Cit

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2003)85ITD745(Kol.)

..... on the issue in appeal before us.we find that sub chapter set off, or carry forward and set off in chapter vi of the income tax act beings with section 70 which, as it stood at the material point of time, is reproduced below for ready reference : "save as otherwise provided in this act, where the net result for any assessment year in respect of any source falling under any head of income is a loss, the assessee shall be entitled to have the amount of such ..... it was in this background that assessing officer issued notice requiring the assessee to show cause as to why this mistake should not be rectified under section 154 of the act.in reply, the assessee invited assessing officers attention to the provisions of section 43(5) which define the speculative transactions and the fact that the present case is admittedly not covered by the provisions of section 43(5). ..... 233.83 lakhs, incurred by the assessee in business of sale and purchase of shares, as ,speculation loss was a mistake apparent from record and that this mistake was liable to be rectified under section 154 of the act.briefly, the material facts are that after the assessment under section 143(3) was completed assessing total income at rs. .....

Grindlays Bank Ltd. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (1982)1ITD1100(Kol.)

..... in such a case there would be no necessity of treating any body as an agent and making an assessment upon him.according to sub-section (2) of section 163 no person shall be treated as the agent of a non-resident unless he has had an opportunity of being heard by the ito as to his liability to be treated as such. ..... for this purpose reliance has been placed upon section 231 of the act, according to which no proceedings for recovery of any sum payable under this act shall be commenced after the expiration of one year from the last day of the financial year in which the demand is made or in the case of a person who is deemed to be an assessee in default under any provision of this act, after the expiration of one year from the last day of the financial year ..... before the money can actually be transmitted to the non-residents some kind of sanction or authorisation is necessary under the foreign exchange regulations act and the reserve bank of india act.therefore, the legislature advisedly used the words "payment" and not "credit" or "payment by issue of a cheque or draft or any other mode" in this section.we are, therefore, of the opinion that prima facie the argument of the representative of the assessee that the liability under ..... 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. .....