Court : Kolkata
Reported in : [1995]211ITR500(Cal)
..... of a tenancy right is a casual and non-recurring receipt within the meaning of section 10(3) of the income-tax act, 1961.9. dealing with this decision of this court in the case of a. gasper v. cit : [1979]117itr581(cal) , it was argued that the reference bench of the calcutta high court held that ..... and non-recurring receipt under section 10(3) of the income-tax act, 1961. moreover, section 10(3) provides :'incomes not included in total income.--in computing the total income of a previous year of any person, any income falling within any of the following clauses shall not be included- (1) agricultural income ; (2) subject to the provisions of sub-section ( ..... of casual and non-recurring nature within the meaning of section 10(3) of the income-tax act, 1961. the assessing officer has obviously erred in law in excluding the amount of compensation received by you in the computation of your total income. the assessment is, therefore, erroneous and prejudicial to the interest of the revenue. i .....
Tag this Judgment!Court : Kolkata
Reported in : [1994]209ITR490(Cal)
..... application under section 256(1) of the income-tax act, 1961, for the assessment year 1975-76, the following question of law has been referred to this court :'whether, on the facts and in the circumstances of the case and on proper construction of law, the income-tax appellate tribunal was right in holding that interest ..... is paid for any infraction of the provisions of the income-tax act by the assessee must derive its colour from the principal payment, i.e., income-tax and will partake of it. under the income-tax act interest or penalty is inextricably connected with the tax liability. if income-tax is not a permissible deduction under section 37, any ..... . these profits are ascertained according to commercial principles. if an assessee who carries on business commits any default in discharging statutory obligations under the income-tax act, payment if any made in consequence of such- default cannot constitute an allowable expenditure inasmuch as such expenditure cannot be said to have been .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1970Cal349,[1971]41CompCas477(Cal),[1971]80ITR108(Cal)
..... . he has also drawn my attention to the definition of a 'principal officer' as given in section 2 (12) of the income-tax act of 1922 and in section 2(35) of the income-tax act, 1961 and he contends that the official liquidator cannot be considered to be a principal officer within the meaning of the said definition. he has ..... contrary contained in any other law for the time being in force.'15. mr. mitter contends that the income-tax act, 1961 has been enacted years after the commencement of the companies act, 1956 and section 178 of the income-tax act refers to and deals specifically with companies in liquidation. he argues that certain duties and powers have been ..... in the assessment proceeding. in view, however, of the definition of the 'principal officer' as given in section 2(35) of the income-tax act, 1961, it appears that it is open to the income-tax officer to treat the liquidator as a 'principal officer' of the company. the decision in the case reported in : [1934]2itr79(all) .....
Tag this Judgment!Court : Kolkata
Reported in : (1994)122CTR(Cal)7,[1994]209ITR307(Cal)
..... higher rate of depreciation. we cannot agree with the view that a hotel building in its entirety is plant within the meaning of section 32(1) of the income-tax act, 1961.20. for the reasons aforesaid, we answer the second question referred at the instance of the revenue in the negative and in favour of the revenue and against ..... the building in question was a plant. in this context, the court laid down the following principles :(a) the definition of 'plant' in section 43(3) of the income-tax act, 1961, should be given a wider meaning as it was an inclusive definition. (b) all buildings are not 'plant' but a building or structure is not per se to be ..... a hotel fell within the definition of 'plant' in the context of section 10(5) of the indian income-tax act, 1922, corresponding to section 32(1) of the income-tax act, 1961. their lordships referred to the decision of the court of appeal in jarrold (inspector of taxes) v. john good and sons ltd. [1963] 1 wlr 214. there, the nature of the .....
Tag this Judgment!Court : Kolkata
Reported in : [1990]186ITR329(Cal)
..... of rs. 30,000 per annum could be taxed under section 9(1)(iii) of the income-tax act, 1961. i am unable to accept this submission. the petitioner's retainer cannot be taxed under section 9(1)(iii) of the income-tax act, 1961, for the following reasons.:(a) the income-tax act, 1961, having not been extended to sikkim, the ..... the income-tax act, 1961, has not been extended to sikkim ; (iii) that, in sikkim, the sikkim income-tax law continues to be in force and income-tax was being deducted at source from his retainer by the government of sikkim, according to the sikkim income-tax law ; (iv) that he was not liable to pay income-tax under the income-tax act, 1961, on his income earned ..... appears from annexure 'o' at page 36 of the affidavit-in-reply that all residents of sikkim including government servants pay income-tax under the sikkim income-tax manual and not under the income-tax act, 1961. the letter of the accountant-general of sikkim dated april 8, 1985, (annexure 'f', at page 63 of the .....
Tag this Judgment!Court : Kolkata
Reported in : [1994]208ITR67(Cal)
..... of customs duty payable by the assessee on behalf of the parties but not paid within the previous year was not hit by the provisions of section 43b of the income-tax act, 1961 ? 2. whether, on the facts and in the circumstances of the case, the tribunal was justified in holding that if the goods are imported on behalf of the parties, customs ..... assessee imported the goods and became liable to pay customs duty which was any sum payable by the assessee by way of tax or duty under any law for the time being in force under section 43b of the income-tax act, 1961. as 'money was collected on account of customs duty and payable by the assessee on behalf of the party' and not paid ..... ajit k. sengupta, j.1. in this reference under section 256(1), of the income-tax act, 1961, relating to the assessment years 1984-85 and 1985-86, the following questions of law have been referred to us by the tribunal :'assessment year 1984-85 : 1. whether, on .....
Tag this Judgment!Court : Kolkata
Reported in : (1994)120CTR(Cal)356,[1994]208ITR118(Cal)
..... with the question whether a document transferring property to the minor son of a christian was a transfer for adequate consideration within the meaning of section 64(iv) of the income-tax act, 1961.52. the respondents have also again referred to the decision in mool chand mahesh chand's case : [1978]115itr1(all) in this context. in that case, ..... it to review the said decision. i state that the petitioner has not fulfilled the conditions laid down in section 273a(1) of the income-tax act, 1961, nor was the said disclosure voluntary or in good faith as alleged.'32. these are not reasons but a paraphrasing of section 273a. at the most ..... firm's application before the commissioner for waiver. the commissioner thereafter made a reference to the central board of direct taxes (referred to as 'the board') seeking its approval under sub-section (2) of section 273a of the income-tax act, 1961, for waiver of penalties on the petitioner-firm in respect of the assessment years 1979-80, 1980-81, 1981- .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1960Cal323,[1961]42ITR661(Cal)
..... agricultural income-tax act, 1948. the language used in section 41 of the indian income-tax act is very different from that used in section 11 of the u. p. agricultural income-tax act, 1948. though a trustee may not hold trust properties on behalf of the beneficiaries, he may be ..... their behalf. in' my judgment the ratio of that decision has no application to the present case. it should be borne in mind that section 41 of the indian income-tax act by its express language distinctly applies to the case of a trustee whereas there were no express words to that effect in section 11(1) of the u.p. ..... the assessment years 1945-46, 1947-48 and 1948-49. on the application of theassessee the tribunal has made two references under section 66(1) of the indian income tax act of the following question of law arising out of those two orders:'whether on the facts and in the circumstances of this case and on a true construction of the .....
Tag this Judgment!Court : Kolkata
Reported in : [1988]63CompCas627(Cal),(1987)64CTR(Cal)136,[1988]170ITR388(Cal),[1987]34TAXMAN68(Cal)
..... being a free agent to pay all demands, will not incur any liability to pay interest or penalty under the income-tax act for default of payment. interest under section 220 of the income-tax act, 1961, for delayed payment of tax could not be claimed in respect of a period subsequent to the winding up of the company. (i) national ..... stay. it is contended that the company is an assessee in default and either leave be given to the revenue to initiate recovery proceedings under the income-tax act, 1961, or alternatively, the liquidators be directed to pay the said dues out of the funds lying in their hands.6. the application of the revenue ..... given to your petitioner to initiate recovery proceedings and to realise the demands due and payable by the company (now in voluntary liquidation) under the provisions of the income-tax act, 1961, and the rules framed thereunder ; (b) alternatively, the liquidators be directed to pay the amounts, due and payable by the company for the assessment years 1972 .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1966Cal438
..... argument was addressed before us. it is resolutely challenged by mr. meyer appearing for the revenue that there is nothing in section 84 of the income-tax act thatthe notice is to be signed and that there is nothing specific therein that the notice under the said section must be in writing. but in ..... of the income-tax rules specify the following things after the body of the notice:income-tax officeraddressdate of publication of the notice.20. the income tax officers are appointed under section 6 of the income-tax act. section 2 clause (7) defines income tax officer which 'means' a person appointed to be an income-tax officer under section 5.' the words 'income tax officer' in ..... legislature may again leave the matter to the discretion of the executive authorities, who may by framing rules require a written notice. rule 18 of the income-tax act is an illustration of this class. the legislature may again do it by prescribing a form.9. hence, it is necessary to consider firstly whether section .....
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