Court : Kolkata
Reported in : [1977]107ITR123(Cal)
..... in such undertaking the indian parliament seems to have been motivated in introducing section 15c to the indian income-tax act, 1922, the same was inserted by section 13 of the taxation laws (extension to merged states and amendment) act, 1949. the said section as introduced in 1949 provided as follows :'15c. exemption from tax of newly established ..... account for computing the capital employed in cases to which the explanation to section 84 applies.' 10. as a result of the amendment effected by the finance (no. 2) act, 1967, these amendments in section 84 were effective for the prescribed period and from 1st april, 1968, section 84 stood repealed and section 80j was ..... is only the indication how the rule-making authority understood the expression 'capital employed.' in section 15c of the indian income-tax act, 1922, and section 84 of the act of 1961, before its amendment in 1967.13. the main consideration upon which, in my opinion, this question has to be resolved is, whether having regard .....
Tag this Judgment!Court : Kolkata
Reported in : [1973]32STC346(Cal)
..... ' under section 2(1a) of the act includes any trade, commerce, manufacture or any adventure or concern in the nature of trade, commerce or manufacture, ..... accordance with the provisions of the act. a dealer is defined under section 2(c) of the act to mean a person who carries on the business of selling goods in west bengal and includes the government. the expression 'business' was not defined under the act. by section 4(1) of the taxation laws (amendment) act, 1968, the expression 'business ..... is not intended that profit must in fact be earned. the supreme court in the above case had no occasion to consider the amended new definition introduced by the act. the concept of business as understood in the ordinary and commercial sense has to yield to the statutory definition given now in the .....
Tag this Judgment!Court : Kolkata
Reported in : (1997)140CTR(Cal)569
..... to whom a flat had been let out.on appeal by the assessee, the cit(a) held that even after the amendment made to the provisions of s. 23(1) of the act w.e.f. 1st april, 1976 by the taxation laws (amendment) act, 1975, the rental value of the property for the purposes of assessment should be calculated on the basis of the municipal ..... the deposit made by the tenant, since there is no provision to this effect in s. 22 or 23 of the it act, 1961. we may add that schedule iii to the wt act, 1957 which is inserted by the direct tax laws (amendment) act, 1989 w.e.f. 1st april, 1989 lays down the method of valuation of different assets including, inter alia, an ..... immovable property. rule 5 of part b of schedule iii of the said act lays down the manner in which the gross maintainable .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1984)8ITD537(Kol.)
..... for making a false verification in the return filed under section 14 [section 36(2)]. section 36, however, stood deleted with effect from 1-10-1975 by the taxation laws (amendment) act, 1975, and in its place new provisions were brought in with erfect from 1-10-1975 as per sections 35a to 35n of the ..... return of net wealth; for, in such a case, reopening of the assessment is necessary for making use of the information contained in the declaration as the 1976 act makes no amendment to the procedure of assessment or reassessment. rule 5(2), therefore, does not require filing of a return of net wealth in such cases. it requires filing ..... of such declared incomes and wealth. the immunity granted by the 1976 act is, may it be noted, not from taxation and payment of tax but from penalties and prosecutions under the 1961 act and the 1957 act and confiscations, prosecutions and penalties under the customs act and the gold (control) act. the payment of tax is, in fact, condition precedent to earning .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1985)13ITD896(Kol.)
..... tax.7. further, whatever fear the assessee has that he would be required to pay tax at the enhanced rate without setting deduction has been taken away by the taxation laws (amendment) act, 1984 by making a provision that actual amount of tax paid irrespective of the period to which it pertains would be an allowable deduction in the year of actual ..... 23(1) was justified only in the year in which the levy was made. it is also contended by him that in view of amendment of the first proviso to section 23 by the taxation laws (amendment) act, 1984, with effect from 1-4-1985, the assessee would get a chance to claim deduction of the taxes in the year in which ..... they would be actually paid.5. in order to resolve the issue, it is necessary to refer relevant provisions of the calcutta municipal act, 1951. section 172 of .....
Tag this Judgment!Court : Kolkata
Reported in : [1978]112ITR111(Cal)
..... (b) of sub-section (1).' 8. it has to be noted that this is a new chapter being chapter xxa which has been inserted into this income-tax act by the taxation laws (amendment) act, 1972, which has come into effect on and from 15th november, 1972. the said chapter consists of 19 sections, i.e., from section 269a to section 269s ..... at all satisfactorily without referring to the past history of legislation on the subject and the speech of the mover of the amendment who was, undoubtedly, in the best position to explain what defect in the law the amendment had sought to remove......if the reason given by him only elucidates what is also deducible from the words used in ..... the amended provision, we do not see why we should refuse to take it into consideration as an aid to a correct interpretation. it .....
Tag this Judgment!Court : Kolkata
Reported in : [1993]201ITR785(Cal)
..... subsequent proceedings. the provisions of sections 139(8), 215(3) and 214(1a) are referred to in this connection. it is only by amendment under the taxation laws (amendment) act of 1984 that provisions have been made for enhancement of interest either payable by the assessee or payable by the central government consequent upon modification ..... of the tax liability. the amendment has effect from april 1, 1985. it is, therefore, to be inferred that, prior to the amendment, the law entitled ..... or rectification cannot augment the tax liability is not correct. it can in many cases reduce the excess of advance tax. but section 215 before its amendment act, 1984, did not envisage enhancement of the interest chargeable under section 215. sub-section (3) of section 215 only provides for the reduction of .....
Tag this Judgment!Court : Kolkata
Reported in : [1993]201ITR520(Cal)
..... the commissioner of income-tax (appeals), it was contended that the rent receivable should not have been taken as determined by the calcutta corporation. considering the amendment brought by the taxation laws (amendment) act, 1975, the commissioner of income-tax (appeals) rejected the claim of the assessee. he also rejected the claim of the assessee for deduction of legal ..... charges of rs. 5,264 on the ground that there was no such provision for deduction under section 24(1) of the act. being aggrieved, the assessee ..... ajit k. sengupta, j.1. in this reference under section 256(1) of the income-tax act, 1961, for the assessment year 1081-82, the following question of law has been referred to this court :' whether, on the facts and in the circumstances of the case, the income from house property was assessable .....
Tag this Judgment!Court : Kolkata
Reported in : [1971]80ITR428(Cal)
..... questions first in the tight of the section itself and later on to discuss the case law pn the point. 12. section 15c of the income-tax act, 1922, was introduced by the taxation laws act, 1949 (67 of 1949) taxation laws (extension to merged states and amendment) act, 1949--[1950] 18 i.t.r.(st.) 17. it finds its place under chapter ..... 3 of the indian income-tax act, 1922, dealing with 'taxable income' and its juxtaposition is within ..... machinery or plant used in a business which was being carried on before the 1st day of april, 1948 (now amended as 'previously used in any other business'. the amendment applies retrospectively by the finance act of 1959);....(iii) employs 10 or more workers in a manufacturing process carried on with the aid of power, or .....
Tag this Judgment!Court : Kolkata
Reported in : [1971]27STC373(Cal)
..... into ^he bengal finance (sales tax) act with retrospective effect. this amended provision has tried to define 'business'. it says that 'business' includes 'any trade, commerce or manufacture ..... a 'dealer' in the bihar sales tax act, 1959. in the bihar act 'dealer' means, inter alia, any person who sells any goods whether for commission, remuneration or otherwise. the bihar definition seems to be of a slightly wider amplitude. then again, by the west bengal taxation laws (amendment) act, 1969, section 2(la) was incorporated ..... sense. in other words, activity of a commercial character must be clearly established before a person can be brought into the net of taxation under this act. in the reference before us if the employer sells certain commodities of daily use to the employee without any profit to provide the employee .....
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