Court : Kolkata
Reported in : AIR1960Cal433,[1960]40ITR155(Cal)
..... the amount of tax payable and all the provisions of chapter iv shall so far as may apply to any such assessment.'4. this section was amended by the finance act of 1958 (act no. 11 of 1958). the new section 44 runs as follows:'44. the liability in case of a firm or an association discontinued or dissolved. -- where any business, profession or ..... the income, profits and gains of the said firm before its dissolution and for the amount of tax payable thereon;now therefore under section 34 read with section 22(2) of the said act, i require you, the said shivram poddar to deliver to me within 35 days of the receipt of this notice a return in the attached form, of the ..... .' the relevant part of this notice runs as follows:'whereas i have reason to believe that m/s balmukund radheshyam (name of the firm) was dissolved on or about 24-2-1950 : and whereas the income of the said firm assessable to income-tax for the assessment year 1949-58 has been under-assessed; and whereas i propose to reassess the .....
Tag this Judgment!Court : Kolkata
Reported in : 2007(3)CHN625
..... rupees.explanation.-for the purposes of this sub-section, 'order passed under section 128a includes an order passed under that section before the commencement of section 40 of the finance act, 1984, against when an appeal has not been preferred before such commencement and could have been, if the said section had not come into force, preferred after such ..... section unless such person is given notice within the time limit specified in section 28 to show cause against the proposed order.(4) no proceedings shall be initiated under sub-section (1) or sub-section (2) in respect of any decision or order after the expiry of a period of six months from the date of communication of ..... of customs in the case to which the appeal relates is more than fifty lakh rupees ten thousand rupees:provided that no such fee shall be payable in the case of an appeal referred to in sub-section (2) or a memorandum of cross-examination referred to in sub-section (4). (7) every application made before the appellate .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1989)29ITD495(Kol.)
..... the foreign accounts and each foreign project is required to be cleared separately under the foreign exchange regulations act, 1973 and the rules made thereunder.15. section 80ab was introduced in 1980 with effect from 1-4-1981 by the finance (no. 2) act, 1980. the purpose and objects of this section are fully explained by the central board of ..... direct taxes in paragraph 15 of its circular no. 281, dated 22-9-1980. it is pointed out that both section 80aa and 80ab ..... -wise profit and loss account was drawn from 4 projects in execution in saudi arabia during the relevant previous year. this appears at page 4 of paper book no. 2. the consolidated profit & loss account in respect of indian activities as well as overseas activities is drawn separately for each overseas country accounts. the same has been .....
Tag this Judgment!Court : Kolkata
Reported in : [1999]236ITR671(Cal)
..... of peerless general finance and investment co. ltd., has been sent by the c.i.t.wwhi, on the recommendation of the d.c.i.t. special range-13.this is put up for ..... produce the records and give an inspection thereof to the petitioner. the proposal appears to have been made in the note-sheet which is in the following term :'peerless general finance and investment co. ltd,, c.c.i.ta1/hq/ asst-192/special audit 142(2a) of 1997-98.proposal for special audit under section 142(2a) in the case ..... of customs and superintendent, preventive service customs v. charan das malhotra, : 1973ecr1(sc) , the apex court while considering the provision of sub-section'(2) of section 110 of the customs act, observed (page 692) :'there can be no doubt that the proviso to the second sub-section of section 110 contemplates some sort of4nquiry. the collector, obviously, is expected not to pass .....
Tag this Judgment!Court : Kolkata
Reported in : (2007)3CALLT606(HC)
..... 2002 as part of the decree as drawn up and provides for delivery of possession. according to mr. mitra there is no obligation left to be discharged, as provision of section 230a of the income tax act has been omitted by the finance act, 2001 with effect from 1st june, 2001. similarly provisions of chapter xx (269 uc of income tax ..... to me that the following questions are involved to decide the said execution application:i) whether the decree is a nullity having regard to the aforesaid facts narrated?ii) whether this question can be agitated at this stage?iii) whether the decree and order passed is a consent decree under the provision of order xxiii rule 3 ..... and 4 were directed to file affidavits that they were willing to transfer the said property. the said affidavit containing undertaking of the defendant no. 3 was filed on 12th march, 2,004 by one n. gopalan, chief manager (legal) of the third defendant. the said defendant undertook transfer of the said property in favour of the plaintiff .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1986Cal86
..... the board or the board of trustees, the improvement schemes of the said board, acquisition and disposal of lands by them, their taxation policy and scheme, their finance and laying down or framing and formulating the rules of the said trust, apart from having control over supplemental provisions, like contributions towards leave allowances and pensions ..... per month. the deponent has further stated that it also appeared from a certificate dt. 7th jan. 1977, issued by the branch manager of the city branch no. 2 of the life insurance corporation of india and as furnished by the writ petitioner, that his basic salary rose to rs. 500/- per month and his total income ..... the written deputation as mentioned above, the authorities of the said trust, issued a ejectment notice being no. em/2667 dated 18th jan. 1977, under the signature of the assistant estate manager, under section 3(2) of the said 1976 act, directing him to quit and vacate the premises as per directions as contained therein. the said .....
Tag this Judgment!Court : Kolkata
Reported in : [1989]180ITR86(Cal)
..... be the profits and gains of the business or profession and, accordingly, chargeable to income-tax as the income of the previous year. similarly, under section 41(2) of the act, where a building, machinery, plant or furniture owned by the assessee is sold, discarded, demolished or destroyed, so much of the balancing profits as does not ..... to carry on his profession from march 1, 1957, when he was elevated to the bench of a high court. in the years 1958 and 1959, during no part of whichhe carried on any profession, he received certain moneys on account of fees outstanding for professional work done by him before march 1, 1957. the supreme ..... . otherwise, one would be driven to conclude that while a certain income seems to fall within the charging section, there is no scheme of computation for quantifying it. the legislative pattern discernible in the act is against such a conclusion.'14. in order, therefore, to bring to charge professional receipts after the discontinuance of the profession, .....
Tag this Judgment!Court : Kolkata
Reported in : [2002]127STC23(Cal)
..... the submission of mr. mukherjee but added that in absence of the rate of tax having been specified in terms of the acts, no tax was leviable prior to coming into force of the west bengal finance act, 1999. the learned counsel would contend that by imposition of the said tax, a discrimination has been made between sugar manufactured ..... karnataka reported in [1999] 112 stc 93 (kar), it has been held :'the various contentions raised by the petitioner are summarised and discussed as under : (1)...........(2) whether the above provision of law is violative of article 401 of the constitution of india which imposes a limitation upon the exercise of legislative power in respect of ..... on the sale or purchase of goods other than newspapers, where such sale or purchase takes place in the course of inter-state trade or commerce.article 269(2). the net proceeds in any financial year of any such duty or tax, except in so far as those proceeds represent proceeds attributable to union territories, shall .....
Tag this Judgment!Court : Kolkata
Reported in : (1999)155CTR(Cal)249,[1999]238ITR820(Cal)
..... spirit speak the same way.18. in this view of the matter, the adjustments made, although made about two years prior to the coming into operation of the finance (no. 2) act of 1998, are all ineffective. even more ineffective is the adjustment made regarding cash recovery from chhajer's premises, which, i am told, is also a subject- ..... at that time was, and before me also has been that adjustments were made by the revenue prior to the coming into operation of the finance (no. 2) act of 1998 and thus there being no outstanding, the assessee had nothing to settle up.5. according to the revenue large amounts of money were adjusted at several times during the year ..... to the assessee as required by that section.17. each assessment year for each assessee is generally kept separate in the act. the assessee has no right to club together assessment years. the revenue also has no general right to dissect an assessment year into more than one period of time or agglomerate assessment years as they please. .....
Tag this Judgment!Court : Kolkata
Reported in : (2006)206CTR(Cal)219
..... any article or thing, not being an article or thing specified in the list in the eleventh schedule.11. the definition of 'industrial company' in the finance (no. 2) act of 1980 for the relevant assessment years is as follows:industnal company' means a company which is mainly engaged in the business of generation or distribution of ..... .4. in view of the aforesaid factual position the definition of industrial company in the relevant finance (no. 2) act of 1980 is satisfied. consequently, investment allowance for the respective assessment years was allowed under section 32a of the said act. what is manufacturing process has been explained in the decision of the galcutta high court reported in ..... it was found by the cit that the petitioner-company is a non-industrial company and it does not satisfy the definition of section 2(7)(c) of the it act (relevant finance act). the company is not engaged in the business of manufacturing and the nature of the business being carried on at that point of time .....
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