Judgment Search Results Home > Cases Phrase: income tax act 1961 section 155 other amendments Court: kolkata Page 1 of about 10,190 results (0.113 seconds)

income-tax Officer, g Ward and anr. Vs. India Foils Ltd.

Court : Kolkata

Reported in : 76CWN549,[1973]91ITR72(Cal)

..... on 18th march, 1965, requires to be amended as there is a mistake apparent from the record within the meaning of section 154/155 of the income-tax act, 1961. the rectification of the mistake, as per details given below, have the effect of enhancing the assessment or reducing the refund or increasing your liability and if ..... under section 154/155 of the income-tax act, 1961. to,the principal officer, name : messrs, india foils ltd., 11, sooterkin street, calcutta. the assessment under section 143(3) for the assessment year 1962-63 made ..... proceedings connected therewith.2. a notice dated 11th march, 1969, relating to the assessment year 1962-63, purported to have been issued under section 154/155 of the income-tax act, 1961, is the subject-matter of this application. the notice dated 11th march, 1969, reads as follows :'c/1/1-27/g ward dated 11th march, 1969notice .....

Chhaganmal Agarwalla Vs. Income-tax Officer, a Ward and ors.

Court : Kolkata

Reported in : [1972]86ITR248(Cal)

..... the assessment of the said firm was made after 1st april, 1962, and as such, the assessment of the petitioner could be rectified under section 155(1)(a) of the income-tax act, 1961.'5. mr. bajoria contends that since 'rectification' is a part of 'assessment', the point aforesaid raised in the affidavit-in-opposition is not sustainable by reason of the provisions of ..... , 'a.' ward, dist. iii(3), calcutta, gave to the petitioner on the 6th may, 1966, a notice under section 154/155 of the income-tax act, 1961 (hereinafter referred to as 'the new act'), for the assessment year 1961-62. the purpose of this notice was to rectify the petitioner's assessment made on the 14th march, 1962, upon the assessment of the petitioner's firm .....

Waldies Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Reported in : [1978]115ITR286(Cal)

..... , gives jurisdiction and authority to the ito to pass the impugned order. it is apparent that after the subsequent assessment, under the income-tax act, 1961, made by virtue of section 147 of the income-tax act, 1961, was cancelled by the aac, the income-tax liability of the assessee got reduced. the ito has, therefore, given effect to that order. accordingly, the 'chargeable profits' under the companies (profits) surtax ..... , giving relief to the assessee in consequence of the order passed under section 147 of the income-tax act, 1961. thereafter, however, on 2nd of november, 1970, the aac cancelled the subsequent income-tax assessment made under section 147 of the income-tax act, 1961, and the ito in march, 1971, gave effect to the order of the aac in cancelling the subsequent assessment and thereby restoring the original assessment .....

Ramanlal Madanlal Vs. Commissioner of Income-tax, Central

Court : Kolkata

Reported in : [1979]116ITR657(Cal)

..... firm, any portion of the amount which he is entitled to receive from the association or body on which income-tax has already been paid by the associationor body.' 10. we may also incidentally refer to section 77 of the 1961 act which deals with the losses of unregistered firm or their partners and which reads as follows:'77. losses ..... by the huf. this was the view until the new act, that is, the i.t. act, 1961, came into effect. we have noticed the scheme of taxation introduced in the new act. while section 4 of the i.t. act, 1961, provides that tax for an assessment year in respect of the income of the previous year of every person shall be so ..... imposed accordingly, the section deals with the imposition of tax in respect of 'every person' unlike section 3 which enumerated .....

B.C. Nawn and Bros P. Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Reported in : [1977]109ITR632(Cal)

..... the 19th september, 1969, and if so,whether it was barred by limitation within the meaning of section 153(1)(a) of the income-tax act, 1961 ?'5. an income-tax officer makes an assessment under the provisions of section 153 of the act. section 153 provides, inter alia, as follows:' 153, time limit for completion of assessments and reassessments.--(1) no order of assessment shall be ..... the above contentions which mr. mukherjee has raised, it seems to us that the provisions of section 153(1)(a) and those of section 263 are independent provisions in the income-tax act, 1961. these two sections are invoked by two independent authorities and the periods for exercise of powers by these two independent authorities have been specified in the .....

Westward Television Ltd. Vs. Hart (inspector of Taxes).

Court : Kolkata

Reported in : [1969]71ITR489(Cal)

..... that no part of the loss incurred by the taxpayer company in the year of assessment 1960-61 had been relieved in the years of assessment 1961-62 and 1962-63 under section 342 of the income tax act, 1952, and that, in consequence, pounds 101,214 of such loss remained to be relieved under the same section against the companys trading ..... fell to be deducted from the losses available to be carried forward and set off against the assessable profits of subsequent tax year under section 342 of the income tax act, 1952.(4) the taxpayer fell to be assessed to tax for the year 1961-62 being the second year in which it carried on its trade, by reference to the profits (if any) ..... 328. the taxpayer on account of interest paid by it under deduction of tax in the years 1961-62, 1962-63, 1963-64 and 1964-65, in respect of which it had been assessed to tax under section 170 of the income tax act, 1952.(9) the taxpayer was assessed to tax for the year 1965-66 by reference to the profits of its accounting .....

Commissioner of Income-tax Vs. National Standard Duncan Ltd.

Court : Kolkata

Reported in : (2003)180CTR(Cal)329,[2003]260ITR97(Cal),[2003]132STC298(Cal)

..... been the liability, due to be paid, having been adjusted is a deemed payment amounting to actual payment within the meaning of section 43b of the income-tax act, 1961. he has pointed out that it is not in dispute that the actual payment by way of adjustment is claimable in the assessment year 1985-86. ..... section 256(1) of the act the question formulated is : 'whether, on the facts and in the circumstances ..... dey to file vakalatnama within two weeks. 2. the income-tax officer and the appellate authority disallowed the claim for deduction of a sum of rs. 4,05,744 under section 43b of the income-tax act, 1961. the learned tribunal overruled the same and allowed the deduction. the commissioner of income-tax, west bengal-ii, calcutta, sought this reference under .....

P.R. Mukherjee Vs. Commissioner of Income-tax

Court : Kolkata

Reported in : [1979]116ITR554(Cal)

..... in the facts and circumstances of the case the learned aac of income-tax was not justified in holding that the entire income of shyamasree cinema which is owned by the appellant's wife is to be included in the assessment of the appellant under section 64(iii) of the i.t. act, 1961, 2. that the learned aac should have held on appreciation ..... under section 64(iii) of the i.t. act, 1961. 18. in a recent decision, however, this court in the case of k.d. ghosh v. cit : [1978]111itr502(cal) has considered this question. there, theassessee who was assessed as an individual filed his return for the assessment year 1966-67 showing an income of rs. 6,071. the ito determined the ..... mammon k. cherian v. cit : [1976]102itr553(ker) , on a plot of 20 cents of land belonging to the wife a house was built, inter alia, at the cost of the husband. the tribunal included the entire income from the house in the hands of the husband under section 64(1)(iii) of the i.t. act, 1961. it was held that contribution .....

Asstt. Cit Vs. Balarampur Chini Mills Ltd.

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2007)109ITD146(Kol.)

..... circumstances, the learned commissioner (appeals) erred in law in directing to allow deferred tax to determine the book profit under section 115jb of the income tax act, 1961, when the deferred tax is a provision of tax effect of the differences between taxable income and accounting income, and so is not allowable under section 115jb of the income tax act, 1961 in determining book profit under that section. (3) that on the fact ..... revised computation filed during assessment. (5) that on the fact and in the circumstances, the learned commissioner (appeals) erred in directing to allow tax paid under section 115-o of the income tax act, 1961 on distributed dividend to determine book profit under section 115jb of the income tax act, 1961 citing cbdt's circular no. 8 dated 29-8-2005, when the said circular relates to fringe benefit .....

Cesc Ltd. Vs. C.I.T. – Ii, Kolkata

Court : Kolkata

..... by it. the commissioner held that the electricity duty collected by the appellant licensee from the consumers falls within the purview of section 43b of the income tax act, 1961 and as such he dismissed the appeals of assessee-company and upheld the order of the assessing officer. (4) the assessee company preferred appeal against ..... senior counsel for the appellant advanced before us essentially the same arguments that were made before the ld. tribunal. he submitted that section 43b of the income tax act does not apply to electricity duty collected by the assessee-company as licensee, on behalf of the state government inasmuch as the electricity duty which the assessee ..... are that the assessee company (appellant herein) did not include the unpaid electricity duty while computing disallowance to be made under section 43 of the income tax act. the electricity duty was realized by the assessee company from the consumers which is finally paid to the state government. the assessing officer was of .....