Court : Kolkata
Reported in : AIR1963Cal598,[1963]47ITR247(Cal)
..... the assessee. clearly sir varadachariar was expressing a view different from that expressed by chagla, c. j., on section 2 (6c) of the income-tax act.28. mr. mitter for the income-tax commissioner realised the difficulty in the light of these observations. he, however, tried to nullify the rigour of those observations by himself relying on paragraph ..... 1952 did not introduce 'surplus' expressly as taxable, so far as mutual insurance associations were concerned. finally, by clause 2 (24) (vii) the present income-tax bill of 1961, which we are told has been passed by both houses of parliament and will be coming into effect very soon, expressly re-introduces 'surplus' of mutual ..... air1952bom63 , had not had the benefit of considering either the views of sir srinivasa varadachariar of the legislative history of the ten years from 1951 to 1961. he has therefore submitted before us that this court should not follow the bombay decision, at any rate so far as non-life mutual insurance society is .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1965Cal570
..... this court in sri sri sridhar jiew v. income-tax office in matter no. 93 of 1961 (cal) arising out of proceedings under article 226 of the constitution also takes the view after discussing some of the eases that the hindu deity or the idol can be construed to be an individual within the meaning of income-tax act.36. i have already analysed the general ..... of arunachala mudaliar v. commissioner of income-tax, madras reported in : [1961]41itr432(mad) , the word 'manager' is also obviously qualified by the words 'appointed by or under any order of a court'. therefore, it follows that the present shebaits cannot come within the category of 'receiver' or 'manager' within the meaning of section 41 of the income-tax act because the shebaits in this case .....
Tag this Judgment!Court : Kolkata
Reported in : [1970]75ITR47(Cal)
..... it is to be noted that though subsequently various new allowances were made available to the assessees both under the united kingdom income-tax laws and also under the indian income-tax act, no modification or change was made in these instructions. as the assessee is admittedly a british shipping company, the instructions regarding ..... u. k. is not greater than the rate of the development rebate allowed under the indian income-tax act. '25. the triubnal's reasons are that the income-tax officer was bound under section 5 of the indian income-tax act to follow these instructions of the central board of revenue because this particular letter of august ..... act (corresponding to development rebate under the indian income-tax act, 1922) in the computation of its total world income for the purpose of determining the assessee's indian income under rule 33 of the income-tax rules, 1922 ' 2. the facts giving rise to these questions of law may now be briefly stated. the assessment years 1960-61 and 1961 .....
Tag this Judgment!Court : Kolkata
Reported in : [1983]139ITR414(Cal)
..... the year beginning on the 1st day of april, 1921 ; (b) to a business, profession or vocation on which income-tax was at any time charged in the bands of a company under the indian income-tax act 1886 (ii of 1886), or on which income-tax would have been charged in the hands of a company for the assessment year ending on the 31st day of ..... under section 256(1) of the i.t. act, 1961, the following three questions have been referred to this court:'1. whether, on the facts and in the circumstances of the case, the tribunal was right in holding that the assessee was eligible for relief under section 25(4) of the said act in respect of income from property ? 2. whether, on the ..... and law, the aac held that the assessee was entitled to the relief under section 25(4) of the indian i.t. act, 1922, in respect of the previous year ended on october 21, 1960, relevant for the assessment year 1961-62. he further held that, even if succession was held to have taken place on october 21, 1960, the assessee was .....
Tag this Judgment!Court : Kolkata
Reported in : [1993]203ITR756(Cal)
..... has been referred to this court :'whether, on the facts and in the circumstances of the case and on a proper interpretation of the provisions of section 43b of the income-tax act, 1961, read with explanation 2 thereof which was made effective from april 1, 1984, the tribunal was correct in law in holding that since the central sales ..... remained unpaid on the last date of the year. therefore, the provisions of section 43b of the income-tax act, 1961, were not attracted. the commissioner of income-tax (appeals), following the decision of the tribunal, 'b' bench, calcutta, in the case of india automobiles (1960) ltd. v. ito in income-tax application no. 12 of 1987 dated october 18, 1987, allowed the assessee's claim and deleted .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1961Cal578
..... section 37 (2) of the income-tax-act. section 5 (7) (ii) of the act in describing the income-tax authorities lays down that:'for the purposes of this act, income-tax officer shall be subordinate to the director of inspection, the commissioner of income-tax and the inspecting assistant commissioner of income-tax within whose jurisdiction they perform their ..... the present case. indeed, i am inclined to think that, for purposes of these authorisation letters under section 37 (2) of the indian income-tax act, physical connection in the shape, inter alia, of inter-communication and mutual access would ordinarily be sufficient for including properties under the same and ..... subsequent decisions, state of jammu and kashmir v. ganga singh, : [1960]2scr346 and kondala rao v. andhra pradesh state road transport corporation, : [1961]1scr642 that the principles of article 14 of the constitution have been clearly and exhaustively laid down. while its principles are 'exhaustively explored, article 14 is .....
Tag this Judgment!Court : Kolkata
Reported in : [1991]191ITR691(Cal)
..... the revised higher price, the tribunal had no evidence or had relied on irrelevant materials to hold that the revised estimate of advance tax payable furnished by the assessee under section 212 of the income-tax act, 1961, on march 12, 1970, was not an estimate which the assessee knew or had reason to believe to be untrue and/ ..... to the finding that the estimate of advance tax payable furnished by the assessee on september 15, 1969, under section 212 of the income-tax act, 1961, was not an estimate which the assessee knew or had reason to believe to be untrue (2) whether, on the ..... questions of law to this court under section 256(1) of the income-tax act, 1961 :'(1) whether, on the facts and in the circumstances of the case, and having regard to the facts that the assessee had by august 31, 1960, already earned substantial income, the tribunal had relied on insufficient evidence and irrelevant materials to come .....
Tag this Judgment!Court : Kolkata
Reported in : [1978]111ITR614(Cal)
..... were ultimately approved and affirmed by the supreme court when the said matter reached there through this high court in the reference proceeding under section 256 of the income-tax act, 1961. judgment of the supreme court dated 20th of january, 1972, is at pages 425-444 of the paper book and is also reported in : [1972] ..... escaped assessment being the identical figure of the first notice. thereafter, on the 20th of may, 1970, the present impugned notice under section 148 of the income-tax act, 1961, was issued to the appellant and, after several correspondence regarding disclosing the reasons of such reopening which the respondents refused to do, on the 7th of july ..... the assessment for the assessment year 1962-63 of the appellant on the ground that the conditions precedent to take action under section 147 of the income-tax act, 1961, are not satisfied in this particular case and the notice under section 148 was without jurisdiction and ought to have been withdrawn and without prejudice the .....
Tag this Judgment!Court : Kolkata
Reported in : [1978]112ITR150(Cal)
..... from the materials already on record as to the nature of the reserve mentioned by the income-tax officer, as to whether the possibility of further tax liability on account of reassessment under section 34(1)(a) of the income-tax act actually influenced the decision of the directors and of the general meeting with regard to the ..... can be stated that for the purpose of declaration of dividend the directors were influenced by an apprehension of additional tax liability as a result of the assessment under section 34(l)(a) of the indian income-tax act, 1922. the directors' report or the balance-sheet placed before the general meeting does not make a mention ..... case : [1961]41itr290(sc) , that the test whether it would be unreasonable to distribute a larger dividend has to be adjudged in the light of the commercial profit of the year in question. and in gangadhar banerjee's case : [1965]57itr176(sc) of the report, the supreme court says thus : 'the income-tax officer, acting under this section .....
Tag this Judgment!Court : Kolkata
Reported in : [1971]79ITR161(Cal)
..... were not assessable as capital gains under section 12b for the assessment years 1959-60 and 1960-61 ?' 5. under section 12b of the indian income-tax act, 1922, tax shall be payable by an assessee in respect of any profits or gains arising from the sale, exchange, relinquishment or transfer of capital asset effected after ..... assessable under section 12b of the indian income-tax act, 1922. 4. under section 66(1) of the indian income-tax act, 1922, the following question has been referred to this court: ' whether, on the facts and in the circumstances of the ..... leasehold rights therein. he was, therefore, of the opinion that these amounts were liable to be taxedunder section 12b of the indian income-tax act, 1922. he, accordingly, upheld the order of the income-tax officer. 3. there was a further appeal before the tribunal. the tribunal held that the amounts realised from the transfers were not .....
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