Court : Kolkata
Reported in : [1993]201ITR459(Cal)
..... on the facts and in the circumstances of the case, the tribunal was correct in law in deleting the disallowance made under section 43b of the income-tax act, 1961, in respect of sales tax liability not paid within the relevant accounting period ?' 2. shortly stated, the facts leading to this reference are that the assessee is a private ..... of the case, and also on a proper interpretation of the provisions of section 43b of the income-tax act, 1961, the tribunal was correct in law in holding that the first proviso to section 43b of the income-tax act, 1961, introduced by the finance act, 1987, with effect from april 1, 1988, would be applicable to the assessment year 1986-87 ..... is 1986-87 for which the relevant previous year ended on december 31, 1985. the assessing officer disallowed the outstanding sales tax liability of rs. 33,754 under section 43b of the income-tax act, 1961, on the ground that it was not paid within the accounting year.3. being aggrieved by the aforesaid disallowance, the .....
Tag this Judgment!Court : Kolkata
Reported in : (1993)111CTR(Cal)232,[1993]199ITR420(Cal)
..... companies in which the donors were interested and the provisions of sections 13(2)(a) and 13(2)(h) of the income-tax act, 1961, were not applicable and the assessee was entitled to exemption under section 11 of the income-tax act. the tribunal, in the said order for the assessment years 1972-73 and 1973-74, relied on the decision of the ..... attracted in this case as the assessee's funds remained invested for the benefit of persons referred to in section 13(3) of the income-tax act, 1961. the wealth-tax officer referred to the 3 per cent, unsecured loan bonds (2,075 nos.) of rs. 1,000 each in ganesh narayan brijlal ltd. which attracted the application ..... of the assessee-trust remained invested for the benefit of the person referred to in section 13(3) of the income-tax act, 1961.4. the tribunal, after considering the rival submissions of the parties, held that section 21a of the wealth-tax act, 1957, was not attracted in this case. the tribunal further held that the net wealth of the assessee- .....
Tag this Judgment!Court : Kolkata
Reported in : 76CWN1,[1972]86ITR219(Cal)
..... made would qualify for the credit. the power to amend, vary and rescind any scheme provided under section 280zc(t) given by section 280ze(3) of the income-tax act, 1961, is the general power which would be deemed to be included in the statutory delegation of a rule-making power under section 21 of the general clauses ..... appropriate at this stage to mention the argument that found favour with the learned judge. according to him, section 280zc(1) of the income-tax act, 1961, requires the central government to frame a scheme for giving tax credit on exports after the 28th february, 1965, and the only limitation is that the rate of such credit is not to exceed 15 ..... of the indian currency was made on the 6th june, 1966. this notification reads as follows:'in exercise of the powers conferred by section 280ze of the income-tax act, 1961, read with section 280zc thereof and of all other powers enabling it in this behalf, the central government hereby makes the following further amendment to the .....
Tag this Judgment!Court : Kolkata
Reported in : [1988]173ITR554(Cal)
..... petitioner, the karta of a hindu undivided family, commonly known as gopalji shaw, has challenged the criminal proceeding initiated under section 276cc(ii) of the income-tax act, 1961, against the said family by the income-tax officer, 'd' ward, district iv(i), calcutta. the facts are briefly stated hereafter.2. for the assessment year 1982-83 relevant to the financial ..... . it was, inter alia, stated in the said complaint-(a) that the accused was under a statutory obligation under section 139(1) of the income-tax act, 1961, to file the return of income for the assessment year 1982-83 for the financial/accounting period ending on march 31, 1982, on or before july 31, 1982. the accused failed ..... ) . in that case, for the assessment years 1964-65 and 1966-67 to 1969-70, the assessee was required to file returns under section 139 of the income-tax act, 1961, as it stood at the relevant time by june 30 of the respective calendar years 1964, 1966, 1967, 1968 and 1969. for the assessment year 1966-67 .....
Tag this Judgment!Court : Kolkata
Reported in : [1977]108ITR744(Cal)
..... and was qualified for and exempted from using the word 'limited' in its name. the assessee claimed exemption under section 4(3)(i) of the indian income-tax act, 1922, for the assessment year 1961-62 and under the corresponding section 11 of the income-tax act, 1961, for the remaining three assessment years. 3. we reframe question no. 1 by adding the words 'for the assessment year ..... the negative and in favour of the revenue by saying that the assessee is not entitled to exemption from tax in respect of any of its activities under section 4(3)(i) of the indian income-tax act, 1922, and the corresponding section 11 of the income-tax act, 1961, as claimed in the assessment years concerned. 7. accordingly, the remaining questions do not call for any answer .....
Tag this Judgment!Court : Kolkata
Reported in : 78CWN200,[1974]95ITR343(Cal)
..... be held by 14th august, 1970. the proclamation of the time and place of sale were conditions precedent to its being a sale under schedule ii to the income-tax act, 1961. here two dates were mentioned, 14th august and 22nd august before the trial judge two affidavits were filed by satyanarayan sharoff and dip chand moheta. it is stated ..... 226 of the constitution could not be maintainable. but if it is found that the sale was a nullity and not a sale under the second schedule to the income-tax act, 1961, in that case, it is well-settled that an alternative remedy would not be a bar to get relief under article 226 of the constitution. this position ..... the case, we are of opinion that the sale held on the 14th august, 1970, was not a sale under the second schedule to the income-tax act, 1961. it is not that the tax recovery officer exercised his jurisdiction illegally but he assumed jurisdiction which he did not possess as the conditions precedent for assumption of jurisdiction have not been .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1958Cal642,62CWN151,[1959]35ITR84(Cal)
..... the name of the receiver. i am, therefore, unable to hold that the applicant is not an assessee or a person liable to pay under the income-tax act the demand made and to satisfy the certificate.10. i need only conclude by saying that the applicant did not exhaust the remedies provided in the public demands ..... petition. the substance of his complaint is that he is not an assessee in the technical sense of the term under the income-tax act, but the receivers were the assessees. his argument is that the income-tax for the period in question being assessed against the joint receivers the issue of certificate relating thereto for realisation of the dues ..... the certificate officer. it is therefore, clear that substitution or addition could be made by the certificate officer. section 41 of the income-tax act expressly provides that in the case of a receiver the tax shall be levied upon and recoverable from such receiver with the significant expression 'in the like manner and to the same amount as .....
Tag this Judgment!Court : Kolkata
Reported in : [1990]183ITR528(Cal)
..... indeed. in 1983, the petitioner moved a writ petition challenging the provisions of section 43b of the income-tax act, 1961, and a rule was issued and an interim order was granted. section 43b was inserted by section 18 of the finance act, 1983, with effect from april 1, 1984. the interim order was modified to the extent ..... be a guideline and should be construed as an instruction within the meaning of section 119 of the income-tax act. section 119(3) of the income-tax act indicates, inter alia, that:'every income-tax officer employed in the execution of this act shall observe and follow such instructions as may be issued to him for his guidance by the director ..... is not in dispute. it is, however, found that the subsequent instructions make it clear that while exercising the discretion under section 220(6) of the income-tax act, the officer concerned has to consider the various factors. this court has further found that respondent no. 1 has considered the relevant factors and disposed of the .....
Tag this Judgment!Court : Kolkata
Reported in : [1990]186ITR400(Cal)
..... :'whether, on the facts and in the circumstances of the case, the tribunal was correct in holding that in computing the penalty leviable under section 271(1)(a) of the income-tax act, 1961, the two sums of rs. 8,433 each paid on december 30, 1970, and march 29, 1971, respectively, should be construed as 'sums paid in advance under chapter ..... two amounts paid on march 31, 1970, and october 20, 1970, were to be treated as payment of advance tax under chapter xvii-c of the income-tax act, 1961, and those amounts were, therefore, liable to be considered as payment of advance tax. the dispute in this case is about the amount of penalty directed to be levied by the appellate assistant commissioner. ..... whether, on the facts and in the circumstances of the case, the tribunal was correct in holding that in computing the penalty leviable under section 273(a) of the income-tax act, 1961, the two sums of rs. 8,433 each paid on december 30, 1970, and march 29, 1971, respectively, should be construed as .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1954Cal477,58CWN354,[1954]25ITR418(Cal)
..... to appeals preferred or preferable to the privy council under the provisions of the civil procedure code and that appeals under other laws, such as the income-tax act, are excluded. there can be no question that the income-tax act was among the 'other laws' which provided for direct appeals to the privy council before the appointed day. the conclusion therefore follows ..... and other laws, it appears to me to be perfectly plain that cases in which an appeal could have been preferred under such laws as the income-tax act or the land acquisition act are also contemplated.the matter is carried a point further and made even clearer by the provisions of section 6. by that section, all laws ..... was that this court had no right to grant leave to the petitioner under the supposed authority of article 135, read with section 66a (2) of the income-tax act and that the petitioner, if he wanted to have a hearing from the supreme court, could only do so by obtaining special leave from that court under article .....
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