Judgment Search Results Home > Cases Phrase: income tax act 1961 section 155 other amendments Court: kolkata Page 5 of about 10,190 results (0.168 seconds)

Arun Kumar Chhajar Vs. Collector of Customs (Preventive)

Court : Kolkata

Reported in : 1995LC57(Calcutta),1995(75)ELT747(Cal)

..... /- were seized. the petitioner was arrested and subsequently released on bail. a copy of a seizure report was forwarded to the income tax authorities. on 28th july, 1989, the directors (investigation) of income tax authorities issued notice under section 131 of the income-tax act, 1961 (hereinafter referred to the act) to the petitioner directing him to produce books of account for the year 1989-90, bank's statement ..... , income tax file number.3. it appears from the records produced by the respondent authorities that pursuant to the notice under section 131, the .....

Poddar Sons Ex.L Private Limited Vs. C.i.T., Kolkataiii

Court : Kolkata

..... of such payments were in fact made to the non-resident foreign carrier ?. b) whether the payments made to the non-resident on account of airfreight is chargeable to tax under the provisions of the income-tax act, 1961 ?. c) if an answer to the question (b) is in the negative, whether there is any liability on the part of the assessee to deduct ..... the assessee for the previous year relevant to asstt. year 2005-06 as per provisions of section 40(a)(ia) of the income tax act, 1961. mr.shome, learned senior advocate appearing for the assessee appellant drew our attention to various bills included in the paper book which were also before the learned tribunal in ..... tax at source under section 194(c)?. each of the four agents indicated above are undisputedly the agents of the foreign carriers.as a matter of fact, the airway bill .....

Peerless General Finance and Vs. Jt. Cit

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2003)85ITD215(Kol.)

..... of the income tax act, 1922 to the corresponding provision of section 139 and section 80 of the income tax act, 1961, it cannot be disputed that section 139 of the income tax act, 1961 is a procedural statutory provision of the income tax act, 1961 and section 80, which is part of chapter-vi, is a substantive provision of the income tax act, 1961.their lordships ..... in order to appreciate the above decision of the supreme court, i consider it necessary to refer to the relevant provisions of the income tax act, 1922 and the corresponding provisions under the income tax act, 1961. the relevant provisions considered by their lordships of the supreme court in the case of kulu valley transport co. (p) ltd. ..... appellate orders, the assessing officer denied the benefit of carry forward of loss on the ground of late submission of the income-tax returns. section 80 of the income tax act, 1961 has been invoked.it may not be out of place to mention that the orders of the tribunal have not become final .....

Commissioner of Income-tax, W.B. I Vs. National and Grindlays Bank Ltd ...

Court : Kolkata

Reported in : AIR1969Cal71,72CWN891,[1969]72ITR121(Cal)

..... the rules there construed by the house of lords is different from what we have here for construction under the indian income-tax act.22. viscount simonds in 1961 ac 967 at pages 987-88 distinguished and noted the difference between 1902 ac 287 and these classes of cases. his lordship observed as follows;--'with ..... during the said years from the two tea companies doing business in india and the assessee claimed that no portion of the interest was taxable under the income-tax act.5. the income-tax officer's decision ss based on the fact which he held that the corporation while carrying out capital expansion in india utilised the overdraft granted by the ..... principle of construction.14. money has been known to be a cause of trouble and anxiety not only morally and materially but also fiscally and legally under the income-tax act and other taxing statutes. judicial interpretation of 'money', by judges and courts, have added fuel to the fire. for instance, interpretation of 'money' in a will or a .....

United Commercial Bank Ltd. Vs. the Commr. of Income-tax, West Bengal

Court : Kolkata

Reported in : AIR1954Cal35,[1953]23CompCas414(Cal),57CWN726,[1953]24ITR425(Cal)

..... : 'whether in the circumstances of this case, the assessee was entitled under the first proviso to section 8 of the income-tax act to deduct any interest on money borrowed and utilised for investment in tax-free securities.'7. mr. chaudhuri, who, appeared on behalf of the assessee, did not advance any argument before us ..... s contention is not tenable. section 6 of the income-tax act sets out six heads under which income should be assessed and provides that those 'heads of income, profits and gains, shall be chargeable to income-tax in the planner hereinafter appearing.' interest on securities is a distinct category of income, forming the second head in the classification. profits ..... for the decision of this court in --'general family pension fund v. commissioner of income-tax, bengal' air 1946 cal 539 (h). there, a mutual insurance company was first assessed under rule 25 of the rules framed under section 59, income-tax act, which were then in force, i.e., on the average annual net profits .....

Commissioner of Income-tax Vs. General Industrial Society Ltd.

Court : Kolkata

Reported in : (2003)183CTR(Cal)67,[2003]262ITR1(Cal)

..... was definitely a capital asset.10. if it was a capital asset then it had to be dealt with under the provisions of sections 45 to 55 of the income-tax act, 1961. once it was chargeable under section 45, it had to be computed according to section 48, 49 or 50, as the case may be. the computation provided ..... the assessability of the amount, thus received under the head 'capital gains' ?'3. the tribunal had refused to state the case under section 256(1) of the income-tax act, 1961. an application under section 256(2)was preferred before this court. the learned division bench of this court had directed the tribunal to draw up a statement for reference ..... on the facts and in the circumstances of the case, and on correct interpretation of section 28(iv) of the income-tax act, 1961, the tribunal was justified in law in holding that the receipt of rs. 10 lakhs cannot be brought to tax as business profit ?(ii) without prejudice to question no. 1 above, whether, on the facts and in the circumstances .....

Kilburn Properties, Ltd. Vs. Commr. of Income-tax

Court : Kolkata

Reported in : AIR1952Cal333

..... in section 23-a & set aside the orders of the income-tax officer for both years.9. appeals were taken by the income-tax officer to the income-tax appellate tribunal who reversed the orders of the appellate assistant commissioner & restored the orders of the income-tax officer.10. on application filed by the assessee under section 66, income-tax act the tribunal referred the following question for toe opinion of ..... this court.'whether in view of the fact that the entire income of the assessee was derived from 'property' assessable under section 9, income-tax act, the provisions of section 28-a were at an .....

Commissioner of Income-tax Vs. Hayward Waldia Refinery Ltd.

Court : Kolkata

Reported in : [1994]209ITR159(Cal)

..... by the assessee for obtaining the advice of the solicitors regarding dilution of its shareholding in pursuance of the provisions of the foreign exchange regulation act, 1973, is a revenue expenditure under section 37 of the income-tax act, 1961 ? 2. whether, on the facts and in the circumstances of the case, the tribunal is right in holding that the remuneration of rs. 24,000 ..... ajit k. sengupta, j.1. in this reference under section 256(1) of the income-tax act, 1961, for the assessment year 1977-78, the following questions of law have been referred to this court :'1. whether, on the facts and in the circumstances of the case, the ..... paid to one of its directors, sri v.s.k. nadar, by the assessee, does not attract the provisions of section 80vv read with section 37(1) of the income-taxact, 1961 ? 3. whether .....

Deputy Commissioner of Income-tax and ors. Vs. Central Concrete and Al ...

Court : Kolkata

Reported in : [1999]236ITR595(Cal)

..... said company carries on a business in civil engineering and construction work. the method of accounting of the said company is mercantile and the said company is also a regular income-tax assessee under the income-tax act, 1961. the assessment year involved is 1988-89 corresponding to the accounting year ending on september 30, 1987. 3. the respondent/writ petitioner company used to compute the ..... or excess amount deducted or collected at source under section 206c and whether the tax collected at source could be equated with the advance tax for the purpose of payment of interest under section 214 of the income-tax act, 1961. 11. it is not in dispute that under section 214 of the income-tax act, simple interest at 15 per cent, per annum is payable by the government .....

Commissioner of Income-tax Vs. Bhotica Textiles

Court : Kolkata

Reported in : (1985)49CTR(Cal)245,[1986]159ITR355(Cal)

..... the facts and in the circumstances of the case, the tribunal was right in cancelling the penalty levied under the explanation to section 271(1)(c) of the income-tax act, 1961, relating to the assessment year 1964-65?'6. it has been contended by mr. bagchi, learned advocate on behalf of the revenue, that since the appeal against ..... be used to support the imposition of penalty. the penalty order was, therefore, cancelled.4. the revenue filed an application under section 256(1) of the income-tax act, 1961, requiring the tribunal to refer the following questions to this court :'1. whether, on the facts and in the circumstances of the case and in view of ..... circumstances of the case and on a correct interpretation of the explanation to section 271(1)(c) of the income-tax act, 1961, the tribunal was justified in cancelling the order of penalty made under section 271(1)(c) of the income-tax act, 1961 ' 5. however, the tribunal referred only one question which is in the following terms :' whether, on .....