Court : Income Tax Appellate Tribunal ITAT West Bengal
..... world income assessed under section 25 or section 31 or the amount of loss computed under section 26 or the amount of agricultural income-tax determined under section 25 or section 31 or denying his liability to be assessed under this act or objecting to a refusal of an agricultural income-tax officer to make a fresh assessment under section 31 or objecting to any order under section 30 or section 32 made by an agricultural income-tax officer or objecting to any ..... to produce before the agricultural income-tax officer any order under the enactments relating to indian income-tax or a certified copy thereof, which may be necessary under the provisions of this act for the purpose of enabling any assessment to be made under section 8, such officer shall make the assessment to the best of his judgment and determine the sum payable by the assessee ..... agricultural income assessed under section 25 or section 31 or the amount of loss computed under section 26 or the amount of agricultural income-tax determined under section 25 or section 31 or denying his liability to be assessed under this act or objecting to a refusal of an agricultural income-tax officer to make a fresh assessment under section 31 or objecting to any order under section 30 or section 32 made by an agricultural income-tax officer or objecting to any ..... proviso to section 20(1) of the bengal finance (sales tax) act, 1941, and the proviso to section 12(1) of the west bengal sales tax act, 1954, reference has also been made .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT West Bengal
..... 44ab was introduced by the finance act, 1984, and while presenting the union budget for 1984-85, the then finance minister observed as under (1984) 146 itr (st) 65 at page 66] : "with the reduction in rates and expeditious disposal of assessments, i believe there can now be no excuse for any leniency to be shown to those who abuse our ..... have further held that when there is technical or venial breach of the provisions of the act, the authority competent to impose penalty may be justified in refusing to impose the penalty. ..... evident from the speech of the hon'ble finance minister while introducing the provisions of s. ..... are quasi-criminal proceedings in nature and hence penalty shall not ordinarily be levied unless the assessee either acted in defiance of law or acted in its conscious disregard of its obligation. ..... further observe that even accepting for a moment that there is no time-limit prescribed under the act for initiating penalty proceedings under s. ..... 271(1)(a), 271(1)(b) and 271(1)(c) of the act and since the legislature has not prescribed any period of limitation for initiating penalty proceedings, the penalty proceedings initiated in 1992 are valid and the penalties levied within six months of the ..... 275/271b of the act shows that the penalty proceedings have to be initiated in the course of any proceeding which, by necessary implication, must be initiated in the course of assessment proceedings.admittedly, in the present case, the assessment proceedings were completed .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT West Bengal
..... in response to a query from the bench, the learned departmental representative fairly admitted that the trust has qualified for exemption under section 11 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 ..... the various obligatory functions including the one under clause (d) enjoined upon every state bar council under section 6(l) of the act, it is clear that the primary or dominant purpose of an institution like the assessee-council is the advancement of the object of general public utility within the meaning of section 2(15) of the act, and as such the income from securities held by the assessee-council would be exempt from any tax liability under ..... neither examined the deed of the trust nor had he noted the material difference in the language of section 4(1) (a) of the 1922 act and section 88 of the 1961 act, particularly, after its amendment with effect from 1-4-1964 and the provisions of section 80g subsequently revising the provisions of section 88; 2 ..... place emphasis on these aspects of life it will not be possible to say that such objects or purposes are of religious nature in the sense the word "religion"or "religious" are used in the income-tax act.moreover, explanation 3, in our view, does not cover a case of an object which is of a religious nature in the technical sense. ..... then referred to the memo explaining the provisions in the finance (no. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT West Bengal
..... valuation cell for determining the cost of construction by issuing summons under section 131(1)(d) of the income-tax act, 1961.however, the assessing officer was of the opinion that the reference to the valuation officer is proper as it helps the assessing officer in framing the assessment order on sound reasoning and without any bias/prejudice. ..... in fact, at the time of making the reference to the valuation officer under section 131(1)(d) of the act, the assessing officer did not seem to have rejected the books of account maintained by the assessee and it was only at the time of making an assessment, in order to justify the addition to be made on the basis of the dvo's ..... such act rather helps the assessing officer in framing the assessment order on sound reasoning and without any bias/prejudice whatsoever. ..... this act on the part of the assessing officer may be termed as proper, legal and justified. ..... officer would clearly depict our viewpoint : "there is no contravention of the law in obtaining expert opinion of the dvo, valuation cell, in determining the actual cost of construction by issuing commission under section 131(1)(d) of the income-tax act, 1961. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT West Bengal
..... if unity of control is taken to be the sole and exclusive test, then in all cases where an assessee finances, controls and carries on more than one business, then all businesses will have to naturally be treated as one business, because there is unity of control. ..... even though the test of unity of control was established as the finances and control were from the head office of the company, the new business undertaken by the assessee could not be taken to have any connection with the earlier business in tea and coffee. ..... such as, the sale of coffee or tea.the hon'ble madras high court held that the deduction was available to that assessee-company only on portion attributable to income liable to tax under the income-tax act.12. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT West Bengal
..... (ba) to s.80hhc(4a) inserted by the finance (no. ..... 44ab of the it act, 1961, issued by the institute of chartered accountants of india. ..... 2) act, 1991, with retrospective effect from 1st april, 1987.13. ..... 44ab of the act. ..... 44ab of the income-tax act". ..... 80hhc of the act. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT West Bengal
..... reads as under : "no deduction shall be allowed in respect of any sum paid by the assessee as an employer towards the setting up or formation of, or as contribution to any fund, trust, company, aop, boi, society registered under the societies registration act, 1860 (21 of 1860), or other institution for any purpose, except where such sum is so paid, for the purposes and to the extent provided by or under cl. (iv) or cl. ..... on the other hand, learned counsel, appearing on behalf of the assessee submitted that under the excise act, the liability to pay excise duty arose soon after manufacture of the goods but the requirement of paying the excise duty is deferred till the date of clearance of finished goods from the ..... submits that (a) the interpretation placed upon the term 'total turnover' under another act should not be resorted to when the two acts in which same words are used are not cognate acts; (b) the definition of the term 'total turnover' in s. ..... clarification issued by the ministry of finance by its letter dt. ..... we find that in the instant case the assessee has not shown that the payments were made by virtue of any agreement with the workers under the industrial disputes act or any other analogous act, the disallowance made by the ao under s. ..... peerless general finance & investment ..... 1991-92 pertains to the questions of application of s.37(4) of the act with regard to the rent, repairs and depreciation on the guest ..... and onwards [due to amendment by the finance (no. ..... by the finance (no. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT West Bengal
..... provisions were again reintroduced by the finance act, 1987 by introduction of a ..... as was given when somewhat similar provisions were introduced for the first time by the finance act, 1983 w.e.f. ..... the finance act, 1990 ..... held that reliance on the tribunal's decisions was found to be misplaced and claim made by the assessee was not permitted by the express language of the act and, therefore, such issue could not be made debatable merely because such claim is couched in a legal language.6. ..... provision whereby every company will have to pay minimum tax on the profits declared by it in its own accounts and these profits could only be those which are assessable as income under the act and not the profit on realization of capital asset. ..... the successive finance ministers at various stages stated that it seemed reasonable that profitable and prosperous companies should contribute at least a small proportion of their profits to the national exchequer at a time when other and less ..... into the statute book vide finance (no. ..... computed under provisions of it act, 1961 for asst. ..... vi to the companies act and in such account, profit on sale of assets was duly credited and, therefore, such p&l a/c was binding on the department as well as on the assessee and only adjustments permitted under ..... 115ja(2) of the it act assessee's claim in this regard is not accepted nil add : (i) provision for leave encashment 51,47,000 (ii) provision for doubtful debt 4,54,000 56,01,000 ------------- taxable income being 30 .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT West Bengal
..... he also submitted that investment deposit account scheme was introduced through the finance act, 1986 with a view to substitute the existing provision of investment allowance contained in section 32a of the act. ..... in the absence of any additional material/evidence we find no infirmity in the order of cit(a) who has observed that though the assessee has claimed deduction under sections 80hh and 80-1 of the act, nonetheless the haldia export factory does not constitute a separate business. ..... various businesses, one of which exclusively consisted of the export of goods outside india, all the businesses taken together shall comprise one composite business and the provisions of clause (b) of sub-section (3) of section 80hhc of the act shall only apply and not partly clause (a) and partly clause (b). ..... after hearing both the parties at length and on perusal of the record it appears that the modvat scheme was introduced by the finance minister with effect from 1-3-1986. ..... they are separate and distinct provision inserted in the act fulfilling different objects and purposes. ..... the assessing officer observed in the order that the incentive wages was nothing but bonus and, therefore, its allowability was subject to the provisions of bonus act. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT West Bengal
..... he also submitted that investment deposit account scheme was introduced through the finance act, 1986, with a view to substitute the existing provision of investment allowance contained in s. ..... they are separate and distinct provision inserted in the act fulfilling different objects and purposes. ..... after hearing both the parties at length and on perusal of the record, it appears that the modvat scheme was introduced by the finance minister w.e.f. ..... 80hh and 80-i of the act, nonetheless the haldia export factory does not constitute a separate business. ..... 80hhc of the act shall only apply and not partly clause (a) and partly cl. (b). ..... 32a of the act. ..... disallowance by following his order for the earlier assessment years.the ao observed in the order that the incentive wages was nothing but bonus and, therefore, its allowability was subject to the provisions of bonus act. .....
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