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Assistant Commissioner of Vs. Eastern Industrial Enterprises

Court : Income Tax Appellate Tribunal ITAT Guwahati

Reported in : (2002)80ITD355(Gau.)

..... representative and the learned senior counsel for the assessee. the income-tax act, 1961, prescribed certain classification for the purpose of taxation in our country. section 14 of the income-tax act, 1961, classified the income as follows for the purpose of computation of total income under the income-tax act:- business includes any trade, commerce or manufacture or any adventure ..... or concern in the nature of trade, commerce or manufacture.so, it is obvious that the definition given in the income-tax act, 1961, is inclusive one and not exhaustive. the hon'ble supreme court in barendra prasad ray v. ito [1981] 129 itr 295 : 6 taxman ..... rs. 3,55,380 as carried forward loss of earlier year.according to the assessee the income from the abovesaid property is to be classified under the head "business income" under section 28 of the income-tax act, 1961. however, the assessing officer disagreed with the assessee and after elaborate discussion the assessing officer .....

Commissioner of Income-tax Vs. Ahmed Tea Co. (P.) Ltd.

Court : Guwahati

..... penalty order of the inspecting assistant commissioner under section 271(1)(c) of the income-tax act, 1961 '2. the assessee filed a return of income for the assessment year 1966-67 on september 30, 1966, showing a total income of rs. 92,591. the relevant balance-sheet and profit and 'loss account was subsequently filed on january 18, 1967 ..... pathak, c.j. 1. the following question of law has been referred under section 256(1) of the income-tax act, 1961, hereinafter referred to as 'the act', by the income-tax appellate tribunal, gauhati bench, to the high court for decision : ' whether, on the facts and in the circumstances of the ease, the tribunal was justified in law in cancelling the .....

Commissioner of Income-tax, Assam, and Others Vs. Amaio Tea Setate.

Court : Guwahati

..... two different person.it was father held that on account of the method of computation prescribed in income-tax act, 60% of the income of the firm is agricultural in character and, therefore, it cannot be taxed under the income-tax act, that even though the flexible arrangement among partners regarding distribution of this sum may take different forms ..... was deriving income from sale, cultivation and manufactur of tea. the income-tax offecer computed the income of the firm for the assessment year 1962-63 at rs. 58,485 and under rule 8 of the income-tax rules, 1962, 40% of this income was made taxable under the income-tax act. the income-tax officer, while allocating the share of the income between the partners ..... be an employee of the firm, that though a firm is a taxable entity under the income-tax act it has no independent existence in the eye of law and that the income of the firm was the income of the partners constituting the firm. it was further held that this position in law of .....

Commissioner of Income-tax Vs. Arun Kumar Jhunjhunwalla and Sons

Court : Guwahati

..... 1. in this reference under section 256(1) of the income-tax act, 1961 (for short the 'act'), the following question has been referred for opinion of this court : ' whether, on the facts and in the circumstances of the case, the tribunal was correct in law in holding ..... of a single male member and widows of deceased male members, and apparently the income-tax act does not indicate that a hindu undivided family as an assessable entity must consist of at least two male members'. 8. the supreme court in the said decision further observed ..... that there must be at least two male members to form a hindu undivided family as a taxable entity also has no force. the expression 'hindu undivided family' in the income-tax act is used in the sense in which a hindu joint family is understood under the personal law of hindus. under the hindu system of law a joint family may consist .....

Commissioner of Income-tax Vs. Assam Mineral Development Corporation L ...

Court : Guwahati

Reported in : [2010]320ITR149(Gauhati)

..... on the facts and in the circumstance of the case, the tribunal was correct in law in holding that interest under sections 234b and 234c of the income-tax act, 1961, cannot be charged on the ground that the direction to charge such interest is not mentioned in the assessment order though the same is charged as per ..... july 20, 2006, upheld the order of the first appellate authority giving rise to the present second appeal under section 260a of the act.4. we have heard sri u. bhuyan, learned standing counsel, income-tax appearing for the revenue and sri u. k. borthakur, learned counsel appearing for the respondent-assessee.5. placing the impugned order dated july ..... to indicate that the computation sheet in the form prescribed (form no. itns 150) signed or initialled by the income-tax officer is an order in writing determining the tax payable within the meaning of section 143(3) of the act and, therefore, has to be treated as a part of the assessment order though the apex court has qualified .....

Assam State Transport Corporation Vs. Smt. Kamurun Nessa Mazumdar and ...

Court : Guwahati

..... cent with effect from 1-4-1972 and to 15per cent with effect from 1-10-1984. the changes in the rate of interest made by the parliament in the income tax act from time to time can be taken as index of the prevailing rates of interest during the relevant periods. it can, therefore, be held that between 1-4-1972 ..... more authentic. in this connection, reference may be made to the rates of interest specified under the income tax ac 1961. this act provides for charging of interest from the tax payers on delayed payment of tax and also for payment of interest by the government to the tax payers on delayed refunds. the rate of interest originally was 4%, which was raised to 6 per ..... awarded between the corporation and the claimants in the ratio of 2 : 1. so far as the amount of claim is concerned, except the claim on account of loss of income for rs. 2,000/- the tribunal held the claim as proved. accordingly, compensation of rs. 17,646/- was awarded. interest at the rate of 6% per annum was .....

Chandypore Tea Estate Vs. Commissioner of Taxes, Assam.

Court : Guwahati

..... assessable entity apart from the individual partners who constitution the firm ?(2) whether, from the facts and circumstances of the case, the provisions of section 13 of the assam agricultural income-tax act, 1939, are applicable to the chandypore tea estate ?"this reference was apparently made at the instance of the chandypore tea estate, hereinafter referred to as the "petitioner-firm". the reference ..... firm registered under the indian partnership act, 1932, hereinafter called the "income-tax act." the income derived by the petitioner-firm having been regarded as agricultural income, forty per cent. thereof had been assessed to income-tax, and in doing so, as the firm was registered under the income-tax act, the assessment procedure indicated in section 23(5)(a) of the income-tax act was followed and the incomes of the partners were individually .....

Warren Tea Ltd. Vs. State of Assam and ors.

Court : Guwahati

..... posed in the present writ petition, it would be apposite to make a short resume of the relevant provisions of (i) the assam agricultural income-tax act, 1939,(ii) the assam agricultural income-tax rules, 1939,(iii) the income-tax act, 1961, and (iv) the income-tax rules, 1962.5. the concise facts which should be sufficient for answering the above question posed in the present writ petitions are that the ..... writ petitions is 'whether or not the portion of the claim for deduction disallowed by the income-tax officer while making assessment because of limit provided in the income-tax act, 1961 and income-tax rules, 1962, could be allowed by the agricultural income-tax officer under the assam agricultural income-tax act, 1939 and the assam agricultural income-tax rules, 1939, provided the said portion of the claim relates to plantation, manufacture and sale .....

Warren Tea Limited Vs. State of Assam and ors.

Court : Guwahati

..... the question posed in the present writ petition, it would be apposite to make a short resume to the relevant provisions of (i) assam agricultural income tax act, 1939 (ii) assam agricultural income tax rule, 1939 (iii) income tax act, 1961 and (iv) income tax rules, 1962.5. the concise facts which should be sufficient for answering the above question posed in the present writ petitions are that assessee/writ petitioner ..... writ petitions is 'whether or not the portion of the claim for deduction disallowed by the income tax officer while making assessment because of limit provided in the income tax act, 1961 and income tax rules, 1962 could be allowed by the agricultural income tax officer under the assam income tax act, 1939 and the assam agricultural income tax rules, 1939 provided the said portion of the claim relates to plantation, manufacture and sale of .....

Kaushik Medhi Vs. Ito

Court : Guwahati

..... difference of opinion between the members of the bench, therefore, the following questions are referred to the hon'ble president of the tribunal under section 255(4) of the income tax act, 1961, for opinion of the third member. the points of difference are as under : '1. whether, on the facts and in the circumstances of the case and keeping ..... any stage?'phool singh j.m. (as third member)20-10-2004the hon'ble president, tribunal, exercising his powers under section 255(4) of the income tax act, 1961, (hereinafter referred to as the 'act'), has referred the following points of difference as framed by the respective members who heard the above appeal, to me as third memberpoints of difference as ..... the merribers of the bench, therefore, the following questions are referred to the hon'ble president of the tribunal under section 255(4) of the income tax act, 1961, for opinion of the third member. the points of difference are as under:1. whether, on the facts and circumstances of the case, the .....