Court : Guwahati
..... referred by the income-tax appellate tribunal, gauhati bench, under section 256(1) of the income-tax act, 1961, hereinafter referred to as "the act" :"whether, on the facts and in the circumstances of the case and on proper construction of the explanation to section 271(1)(c) of the income-tax act, 1961, the tribunal was ..... correct and justified in cancelling the penalty order ?"the facts of the case, as appear from the statement of the case, may be briefly stated as follows :the assessee is a registered firm and has a rice mill at gauhati and various other activities. the assessment proceedings were taken against the assessee for the assessment year 1961 ..... he added this amount. for this amount of rs. 19,154, penalty proceedings under section 271(1)(c) of the act were initiated and the income-tax officer referred thee matter to the inspecting assistant commissioner as required under the law. the inspecting assistant commissioner thereafter held that the .....
Tag this Judgment!Court : Guwahati
..... appellate assistant commissioner took a reasonable view in the matter which was the only course for him.'5. under section 32 of the income-tax act, 1961, depreciation allowance may be allowed subject to the provisions of section 34 of the act, in respect of buildings, machinery, plant or furniture owned by the assessee and used or the purpose of the business or profession. the ..... . lachmi devi choukhani, and the third partner, mangtulal choukhani, is not an owner of the mill in question. that being so, depreciation allowance as allowable under section 32 of the income-tax act, 1961, cannot be allowed to the assessee-firm, inasmuch as the assessee-firm is not the owner of the mill in respect of which the ..... pathak, c.j. 1. this is a reference under section 256(1) of the income-tax act, 1961. the question of law referred is as under : 'whether, on the facts and in the circumstances of the case, the tribunal was justified in upholding the direction of the appellate .....
Tag this Judgment!Court : Guwahati
baharul islam, j. 1. at the instance of the commissioner of income-tax, assam, nagaland, manipur and tripura, the income-tax appellate tribunal, calcutta bench 'b' (hereinafter merely 'tribunal'), has referred, under section 66(1) of the indian income-tax act, 1922 (hereinafter called 'the act') the following question to us :'whether, on the facts and in the circumstances of the case, the tribunal was right in coining to ..... the conclusion that the provisions of section 23 a of the indian income-tax act, 1922, were not attracted in the instant case, after taking into account the capital expenditure incurred by the company and its tax liability as also the fact that the assessee had declared a dividend of rs. 12,000 in september, 1958 .....
Tag this Judgment!Court : Guwahati
..... conclusion that the provisions of section 23a of the indian income-tax act, 1922, were not attracted in the instance case, after taking into account the capital expenditure incurred by the company and its tax liability as also the fact that the assessee had declared a dividend of rs. 12,000 in september, 1958 ..... baharul islam j. - at the instance of the commissioner of income-tax, assam, nagaland, manipur and tripura, the income-tax appellate tribunal, calcutta bench "b" (hereinafter merely "tribunal"), has referred, under section 66(1) of the indian income-tax act, 1922 (hereinafter called "the act") the following question to us :"whether, on the facts and in the circumstances of the case, the tribunal was right in coming to the .....
Tag this Judgment!Court : Guwahati
..... year, namely, assessment year 1968-69, was sought to be proved as covering the deficiency of the year in question.7. clause (iii) to section 33 of the income-tax act, 1961, as amended by act no. 15 of 1965, provides for the allowance of development rebate at 35% of the actual cost of machinery or plant to the assessee engaged in priority industry. this ..... under section 256(1) of the income-tax act, 1961 (hereinafter referred to as 'the act'), and the following question of law has been referred : 'whether, on the facts and in the circumstances of the case, the tribunal is justified in holding that the development rebate of rs. 12,319 was wrongly allowed by the income-tax officer, and the income-tax officer was justified in withdrawing the same .....
Tag this Judgment!Court : Guwahati
..... purposes of this act to continue to be a hindu undivided family except where and in so far as a ..... that the status of the assessee was 'individual' as held by the income-tax officer as well as the appellate assistant commissioner.3. the tribunal then in its order referred to section 171(1) of the income-tax act and observed as follows : 'under section 171(1) of the income-tax act, 1961, a hindu family hitherto assessed as undivided shall be deemed for the ..... pathak, c.j. 1. the following question of law has been referred for decision under section 256(1) of the income-tax act, 1961, by the income-tax appellate tribunal: 'whether, on the facts and in the circumstances of the case, the tribunal was right in holding that the assessments could not be made .....
Tag this Judgment!Court : Guwahati
..... be recovered from the assessee by way of penalty. ' 9. so, as provided under section 46(1)of the indian income-tax act, 1922, when an accountable person is in default in making a payment of estate duty, then the assistant controller may in his discretion impose some penalty in addition to ..... 8:...' 7. the forms e.d. 7 and e.d. 8 are prescribed. 8. section 46(1) of the indian income-tax act, 1922, reads as follows: 'when an assessee is in default in making a payment of income-tax, the income-tax officer may in his discretion direct that, in addition to the amount of the arrears, u sum not exceeding that amount shall ..... person, petitioner, has challenged the orderof penalty passed by the assistant controller of estate duty, dibrugarh, under section 73(5) of the estate duty act, 1953, read with section 46(1) of the indian income-tax act, 1922. 2. the facts of the case are stated in detail in civil rule no. 119 of 1971 (pranavi ram baruva v. asst. .....
Tag this Judgment!Court : Guwahati
..... , 1964, cancelled the renewal of registration grantedfor the assessment year 1955-56 with the prior approval of the inspecting assistant commissioner of income-tax. the order was passed under section 186(1) of the income-tax act, 1961 {hereinafter referred to as 'the 1961 act'). the income-tax officer held that the renewal of registration for the assessment year 1955-56 was erroneous as the minor partners were made liable ..... assessment proceedings.--for the purposes of clauses (a) and (b) of sub-section (2) of section 297 of the income-tax act, 1961 (xliii of 1961) (hereinafter referred to as the repealing act), proceedings relating to registration of a firm or a claim for refund of tax shall be regarded as a part of theproceedings for the assessment of the person concerned for the relevant assessment year .....
Tag this Judgment!Court : Guwahati
..... referred :' whether, on the facts and in the circumstances of the case, the interest received by the assessee on the deposit made with the bank was income exempt from tax under section 10(3) of the income-tax act, 1961?'2. the facts, which appear from the statement of the case, are as follows:the assessee, india carbon ltd., gauhati, is a public limited company incorporated ..... above facts, the above question of law has been referred.10. section 10(3) of the income-tax act, 1961, as it was at the relevant time, is as follows :' 10. 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--......(3) any receipts which are of .....
Tag this Judgment!Court : Guwahati
..... be sanctioned without any difficulty. the remuneration, according to him, was fixed for benefiting the himatsinghka family. thus, applying the provisions of section 40(c) of the income-tax act, 1961, the income-tax officer held the remuneration paid to be excessive and fixed the reasonable remuneration at rs. 4,000 per month. on this basis rs. 48,000 was allowed as deduction ..... years 1965-66, 1966-67, 1967-68 and 1968-69 in view of the provisions of section 40(c) of the income-tax act, 1961 ?' 2. the facts of the case are as follows : the assessee-company was incorporated in 1961, with technical collaboration of m/s. great lakes carbon corporation of u.s.a. to undertake the manufacture of calcined ..... pathak, c.j. 1. the following question of law has been referred under section 256(1) of the income-tax act, 1961, by the income-tax appellate tribunal (hereinafter referred to as the tribunal): 'whether, on the facts and in the circumstances of the case, the tribunal was right in upholding the .....
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