Judgment Search Results Home > Cases Phrase: income tax act 1961 section 234d interest on excess refund Court: kolkata Page 4 of about 125 results (0.036 seconds)

Anandram Gajadhar Vs. Commissioner of Income-tax, Central

Court : Kolkata

Reported in : [1978]113ITR566(Cal)

..... the circumstances of the case, a penalty can be imposed under section 46(1) of the indian income-tax act, 1922, read with section 21 of the excess profits tax act, 1940, after 1st april, 1962, with effect from which date the indian income-tax act, 1922, was repealed by the income-tax act, 1961 ' 2. the facts which have been found or admitted are as follows :the assessee was assessed to ..... of the constitution, inter alia, on the ground that proceedings for imposition of penalty had become barred by limitation under section 231 of the income-tax act, 1961. this section is materially similar to section 46(7) of the earlier act of 1922. sabyasachi mukharji j., dealing with the question whether a proceeding for imposition of penalty was a proceeding for recovery of a sum .....

Commissioner of Income-tax Vs. Arati Debi and ors.

Court : Kolkata

Reported in : [1978]111ITR277(Cal)

..... in this reference.6. thereafter, at the instance of the revenue the tribunal referred the question of law set out hereinbefore under section 66(1) of the indian income-tax act, 1922, to the high court.7. the short point that arises for consideration in this reference is whether the advance made to the assessee in the assessment ..... . ltd., in the accounting year relevant to the assessment year 1952-53, could be treated as dividend within the meaning of section 2(6a)(e) of the indian income-tax act, 1922, and that accordingly only rs. 1,001 out of the total advance of rs. 29,563 made by the said company to the assessee in the said ..... year under consideration, viz., assessment year 1955-56, under section 2(6a)(e) read with section 12(1b) of the indian income-tax act, 1922. while considering section 2(6a)(e), sabyasachi mukharji j. in the case of commissioner of income-tax v. bhagwat tewari : [1976]105itr62(cal) , observed as follows :'the section speaks of 'any payment' meaning thereby every .....

Commissioner of Income-tax Vs. KelvIn Jute Co. Ltd.

Court : Kolkata

Reported in : (1980)17CTR(Cal)138,[1980]126ITR679(Cal)

..... assessee is right in contending that, the question as framed is incorrect, because the expression ' and the subsequent amendment made to the income-tax act, 1961 ', is misconceived. the subsequent amendment to the income-tax act, 1961, does not affect the position. he, therefore, submitted that the court has to adjudicate on a controversy which was not before the ..... :' whether, on the facts and in the circumstances of the case and in view of the promulgation of the income-tax (amendment) ordinance, 1972, and the subsequent amendment made to the income-tax act, 1961, the tribunal was right in holding that there was no rectifiable error in its order dated 12th july, 1972, ..... law, later on made. if that is the proper controversy, then even though the expression 'subsequent amendment to the income-tax act, 1961 ', is incorrect, the real controversy was whether the deduction of wealth-tax was correctly allowed or not. in that view of the matter, we reframe the question as follows :' whether, on .....

Abc Dubash Mining and Anr. Vs. The Income Tax Settlement Commission an ...

Court : Kolkata

..... to do so. learned senior advocate for the petitioners has referred to the various provisions of chapter xixa of the income tax act, 1961 particularly to the sections 245d(2c) and 245d(3) of the income tax act, 1961. he has submitted, in reference to the various sections of chapter xixa that, the settlement commission is required to ..... him, the decision making process of the settlement commission stands vitiated as the settlement commission did not adhere to the provisions of chapter xixa of the income tax act, 1961. he has referred to the four orders passed by the settlement commission in the settlement proceedings. referring to the firs.order dated september 15, 2015 ..... . learned senior advocate for the petitioners has submitted that, the settlement commission did not adhere to the scheme laid down under chapter xixa of the income tax act, 1961 in dealing with and disposing of the application for settlement made by the assessee. he has submitted that, an assessee is entitled to approach the .....

Commissioner of Income-tax, West Bengal Vs. Nawn Estates Private Ltd.

Court : Kolkata

Reported in : [1968]70ITR784(Cal)

..... and setting up markets.'on a cognate topic, almost similar in nature, the supreme court in travancore titanium product ltd. v. commissioner of income-tax on section 10(2) (xv) of the income-tax act lays down the principle that 'the nature of expenditure or outgoing should certainly be adjudged in the light of accepted commercial practice in trade. ..... under schedule d must consist only of the remaining activities. and, if that is so, the rules of schedule d (see section 137(a) of the income tax act, 1952) prohibit the deduction in that assessment of any expenses incurred in relation to the activities of the office, since such expenses are not wholly and exclusively ..... whether, on the facts and in the circumstances of the case, the sum of rs. 17,000 was allowable as deduction under section 12(2) of the indian income-tax act, 1922 ?'the facts giving rise to the above question are briefly as follows :the assessee is a private limited company owning immovable properties, some leasehold and some .....

P.C. Roy and Co. (India) Private Ltd. Vs. A.C. Mukherjee and Another.

Court : Kolkata

Reported in : [1958]33ITR817(Cal)

..... that the hire which is payable to the owner, is payable in london, and, therefore, is not liable to indian income-tax act. in fact, as he points out, the income-tax authorities have not sought to impose any tax on the hire as such. he then proceeds to argue that the amounts that have been advanced in terms of clause 14 ..... contemplated by the charterparty agreement that it should be so made. thus, there is no injustice in enforcing the provision of section 18(3b) of the indian income-tax act. of course, this might give rise to certain practical difficulties. it was pointed out by mr. mitter that if advances are made to masters of ships, then ..... necessary for me to indicate how this will ultimately be adjusted between the petitioner and the owner.in my opinion, therefore, the income-tax authorities have rightly taken steps under section 18(3b) of the indian income-tax act, and the petitioner has not been able to satisfy me that any interference is called for. that being so, this application .....

Deputy Commissioner of Income Tax Vs. General Electric Co. Plc.

Court : Kolkata

Reported in : (2001)71TTJ(Cal)973

..... note filed by the learned counsel, at the time of concluding his submissions, before us.12. we find that under section 9(1)(i) of the income tax act, 1961, any income accruing or arising, whether directly or indirectly, inter alia, through the transfer of a capital asset situated in india, shall be deemed to accrue or arise ..... capital gains was not protected by the dtaa provisions and, even under the express provisions of this dtaa, capital gains are to be taxed as per domestic law i.e. indian income tax act, 1961 in the present case. therefore, indo-uk dtaa only supports the case of the assessing officer to the extent that as far as ..... the learned authorised representative further submitted that the provisions of indo-netherlands dtaa are not applicable in the present case and, therefore, the provisions of the income tax act will prevail, coming to the no-objection certificate issued by the assessing officer, it was pointed out that such a certificate cannot substitute assessment order and .....

Calcutta Electric Supply Corporation Ltd. Vs. Commissioner of Income-t ...

Court : Kolkata

..... earlier in this judgment for the opinion of the court.6. section 10 of the indian income-tax act provides:the tax shall be payable by an assessee under the head ' profits and gains of business...' in respect of the profits or gains of any business... carried ..... 44 on the other hand, the assessees claimed that this amount could not be regarded as profits under section 10 (2) (vii), indian income-tax act, but the taxing authorities assessed the amount to tax and that view was upheld by the appellate tribunal. as i have stated, the appellate tribunal on being requested framed the question set out ..... by the applicant company from the government of india in the circumstances of this case is taxable as profits under section 10 (2) (vii) of the income-tax act?2. the assessees are the well-known electric supply company which provide this city with electricity. the assessees had a stand-by electricity generating plant at bhatpara .....

Sahara India Commercial Corpn. Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Reported in : (2009)223CTR(Cal)361,[2009]178TAXMAN269(Cal)

..... j.1. these two writ petitions were filed by the petitioners challenging the show-cause notices and the orders of transfer passed under section 127 of the income-tax act, 1961 (for short 'the act'). since admittedly identical issues are involved, the petitions were heard analogously. however, for the sake of convenience facts in w.p. no. 1920, sahara ..... of 'sahara' group of casesin exercise of the powers conferred by sub-section (2) of section 127 of the income-tax act, 1961 (43 of 1961) and all other powers enabling me in this behalf, i, the commissioner of income-tax, kolkata-hi, kolkata, hereby transfer the case, particulars of which are mentioned in column '2' and '3' of ..... central circle-6, new delhi, in exercise of powers vested in me under section 127(2) of the income-tax act, 1961.6. this order will take effect from 9-8-2005.sd/-(v.k. bhatia)commissioner of income-tax: kol-iiikolkata.'[emphasis supplied]11. in order to deal with the first question it is necessary to refer .....

Grindlays Bank Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Reported in : [1993]200ITR441(Cal)

..... of law to this court at the instance of the assessee under section 256(1) of the income-tax act, 1961 :'(1) whether, on the true and proper interpretation of section 195 of the income-tax act, 1961, the assessee was itself liable to pay any income-tax in respect of interest to be paid to its customers as an agent and whether, on ..... the facts and in the circumstances of the case, the assesseewas liable to deduct income-tax on such interest under section 195 of the income-tax act, 1961? (2) whether, on the facts and in the circumstances of the case and on a true and correct interpretation of section 201(1a ..... with regard to 24 branches as it did not credit to the government the tax deducted at source within the time permissible under rule 30 of the income-tax rules, 1962. he, therefore, levied interest for delayed payment under section 201(1a) of the income-tax act, 1961. as per detailed calculations in the chart annexed to the order, he computed .....