Court : Kolkata
Reported in : AIR1954Cal271
..... question arose as to whether income-tax can be realised from the assessee when notices under section 22(1) as also under section 22(2), income tax act were issued, even before the indian finance act 1940 was extended to chota nagpur where the assessee resided. it was argued that these notices were the foundation of jurisdiction of the income ..... years but they were willing to do so between the last 8 years. mr. meyer appearing on behalf of the respondents argues that this has no reference to section 34, income tax act. i am, however, doubtful on this point. it is obvious to me that the authorities considered that 8 years would be about the limit ..... petitioner failed to make payment and on 1-5-1952 an order was made for initiating certificate proceedings. 12. as far as the certificate proceedings are concerned, no grounds have been made in the petition to establish that there is any inherent defect in taking certificate proceedings. the petitioner in this application challenges the validity of .....
Tag this Judgment!Court : Kolkata
Reported in : [1993]203ITR422(Cal)
..... its business income to the extent of the specified percentage of the total income carried to such reserve account. 5. as a result of the amendment made by the finance (no. 2) act, 1967, the total income for the purpose of this clause, on and from april 1, 1968, means total income computed before making any deduction under chapter vi ..... really amount to legislation in the guise of interpretation which is plainly impermissible. the view of the karnataka high court is also that the amendment effected in the finance act, 1985, and the object with which the same has been amended, far from supporting the case of the assessee, supports the case of the revenue. the karnataka ..... computed before making any deduction under the newly added (from that year) chapter vi-a (at present comprising sections 80a to 80w). 7. by the amendment of the finance act, 1985, with effect from april 1, 1985, it has been provided that the total income shall be computed before making any deduction under this clause, i.e., .....
Tag this Judgment!Court : Kolkata
Reported in : (2008)221CTR(Cal)36,[2008]307ITR243(Cal),[2009]176TAXMAN326(Cal)
..... relevant to note that the principle decided in hope (india) ltd.'s case : [1999]238itr740(cal) has been accepted by parliament when parliament introduced section 25b by the finance act of 2000 with effect from april 1, 2001, relevant to the assessment year 2000-01. as a result of the introduction of section 25b with effect from april 1, ..... been mentioned where it would be deemed that income chargeable to tax which has escaped. the first class of cases which is against clause (a) of explanation 2 is in applicable as it relates to a situation where no return of income has been furnished. the second class of cases which has been mentioned against clause (b) of explanation ..... 2 relates to a situation where a return of income has been furnished, but no assessment has been made. in such a case it is only when the assessee understates his income that there would be a question of .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1961Cal578
..... incometax report, (3) the-report of the taxation' enquiry commission 1953-54, 2nd volume page 201 and (4) finally the provisions of the finance act, 1956 introducing: section 37(2) of the incometax act by section 20 thereof stating that it would come into effect from 1st may, 1956. in exploring die background and surrounding circumstances, mr. daphtary ..... 1st april, 1956.12. the first point of attack is made on the ground that there was no authorisation in respect of premises no. 53/1, harrison road, and therefore it is challenged that ..... respect of premises nos. 5v, 61 and 63, harrison road and 9/a, beniatolla lane, and another (3) in favour of the income-tax officer, shri n. subba rao, dated the 5th day of july, 1956 in exactly the similar terms as above.section 37(2) of the income-tax act was introduced by the finance act, 1956 with effectfrom .....
Tag this Judgment!Court : Kolkata
Reported in : [1980]122ITR192(Cal)
..... the interests and enforce the rights of the minor. the tribunal accordingly dismissed the appeal of the assessee.11. on an application of the assessee under section 256(2) of the i.t. act, 1961, this court directed the tribunal to draw up a statement of case and to refer the following question of law for the opinion of this court ..... the ito found that the two minors admitted to the benefits of the partnership, namely, pinku kanoria andmunna kanoria, respectively, the daughter and the son of basudeo kanoria, at no time withdrew anything from the firm on account of their shares in the profits and the entire amounts were allowed to accumulate. though excluded from the benefits of the partnership ..... dipak kumar sen, j. 1. the controversy in this reference is in respect of the registration of messrs. kumar financing corporation, calcutta the assessee, which is a partnership firm. the facts found and/or admitted areas follows: the assessee was originally constituted by a deed executed on the. 7th .....
Tag this Judgment!Court : Kolkata
Reported in : [2001]252ITR598(Cal)
..... section 13(2) of the 1961 act find their equivalent in section 21a(i) of the 195 7 act. according to the said provisions, the exemption would not be available if any property or income of the trust is used or applied directly or indirectly for the benefit of, inter alia, the settlors/trustees. if there is no violation of ..... order was binding upon the said wealth-tax officer, who was also the income-tax officer.13. the supreme court has held in union of india v. kamlakshi finance corporation ltd., : 1991ecr486(sc) that the principles of judicial discipline required that the orders of the higher appellate authority should be followed unreservedly by the subordinate authorities ..... concerning the said period held that the said trust is entitled to get benefit under the provisions of section 5(1)(i) of the 1957 act and further there was no obligation to file any wealth-tax return. it further appears from the orders passed in the matter by the appellate assistant commissioner and further by .....
Tag this Judgment!Court : Kolkata
Reported in : [1994]206ITR212(Cal)
..... of storage, gradation and price of molasses produced by sugar factories in uttar pradesh and the regulation of supply and distribution thereof.6. chapter iii of the act provides for various regulations relating to preservation of molasses, preservation against adulteration, removal of adulterated molasses, application for molasses and also sale and supply of molasses. ..... that regard.'3. on appeal, the commissioner of income-tax (appeals) held as under: 'contribution to molasses storage reserve fund rs. 47,084 there is no change in the facts and/or in law. following my orders for the earlier assessment years, i direct the income-tax officer to allow similar relief in the ..... was justified in treating the contribution to molasses storage reserve fund created under the u. p. sheera niyantran (sansodhan) adesh, 1974, as a revenue expenditure ?'2. the assessment year is 1980-81 for which the relevant accounting year ended on june 30, 1979. the facts found by the tribunal are as under:'the assessee .....
Tag this Judgment!Court : Kolkata
Reported in : [2004]136STC492(Cal)
..... the assistant commissioner, commercial taxes granted an eligibility certificate to the company on january 20, 1995 for the purpose of availing remission under section 10g of the bengal finance (sales tax) act, 1941 which was initially valid for a period of one year ending on october 29, 1994 and was thereafter renewed up to october 29, 1995 and, ..... of cold rolled strips manufactured out of hot rolled strips and the assessment made on that basis.2. petitioner no. 1 company carries on business, inter alia, of manufacturing steel pipes. in extension of its business, the company was manufacturing cold rolled strips from hot rolled ..... aloke chakrabarti, j.1. this writ petition was filed by the petitioner no. 1 company along with its one joint managing director, being the petitioner no. 2 challenging the judgment and order dated february 28, 2002 of the tribunal as also challenging the power of the respondents to levy tax on sale .....
Tag this Judgment!Court : Kolkata
Reported in : (1980)18CTR(Cal)356,[1981]130ITR61(Cal)
..... been lawfully determined provided it fulfilled certain conditions mentioned therein. the right of tenancy was, therefore, a transferable property or a capital asset under section 2(14) of the i.t. act, 1961. the court found that the assessee was a monthly tenant since 1940, and with regard to a property in calcutta, the landlord had ..... closed to the company. its true purpose was to facilitate trading by enabling the company to engage a more competent manager and to borrow money required to finance the company's traditional trading operations under modern conditions. none of the authorities cited is directly in point, and i think that the most apposite general ..... money was spent to remove some recalcitrant shareholders, who were pressing an amendment to the constitution of the company and it was held that by this expenditure incurred no capital asset, as such, was acquired. reliance was also placed on the observation of lord reid himself, which was mentioned in the decision, in the case .....
Tag this Judgment!Court : Kolkata
Reported in : (2007)211CTR(Cal)343
..... court reported in reckitt colman of india ltd. v. asst. cit (tds) : [2001]251itr306(cal) and the other of the allahabad high court reported in peerless general finance and investment co. ltd. v. assessing officer : [2001]248itr113(all) .8. in the case of reckitt colman : [2001]251itr306(cal) the division bench considered an identical ..... section 131 and also subject to the documents and other books of account being relevant to his functions required to be discharged under section 206 of the act.it is preferable that the central board of direct taxes or the central government lays down clear guidelines indicating the functions, procedure and the manner in ..... iii(9), (tds), kanpur, was not 'the assessing officer' of the appellants within the meaning of section 2(7a) of the act who could only be the concerned officer in kolkata ; therefore, the assessing officer at kanpur had no jurisdiction under section 131. secondly, it was contended that, in any event, assuming there was jurisdiction, the .....
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