Court : Kolkata
Reported in : [1978]111ITR231(Cal)
..... done so the mistake or error was apparent on the face of the records.35. in the meantime the relevant section 18a(6) had been amended with retrospective effect and in certain circumstances conferred power on the income-tax officer to reduce or waive the interest payable. the high court observed that if ..... : [1958]34itr130(sc) . the facts of this case before the supreme court were that the assessee, a firm registered under section 26a of the indian income-tax act, 1922, had preferred appeals against the assessments for the assessment years 1947-48, 1948-49 and 1949-50. the appellate assistant commissioner passed orders and reduced the assessments for ..... november, 1947. in the assessment, the income-tax officer included capital gains on account of transfer of goodwill computed under section 12b of the indian income-tax act, 1922, the assessee appealed from the order of assessment to the appellate assistant commissioner. one of the grounds in the appeal related to the computation of capital .....
Tag this Judgment!Court : Kolkata
Reported in : [1978]112ITR592(Cal)
..... attention to the relevant note on clause 40 appearing at page 65 of the said report. the said note reads thus :'clause 40 seeks to amend section 271 of the income-tax act to provide that where the income returned by an assessee is less than ninety per cent. of the assessed income the assessee shall be deemed ..... proceeding before the income-tax officer, the petitioner was represented by shri v. newatia of m/s. price waterhouse peat & co., and shri o.p. mathur, taxation officer of the company. they were heard by the income-tax officer and the income-tax officer for reasons recorded in his order disallowed the entire claim of the ..... the assessee has concealed its income or has furnished inaccurate particulars. mr. ginwalla has argued that by applying the above principles which are all clearly wrong principles of law, the authorities concerned are seeking to assume, and exercise jurisdiction in the matter of the penalty proceedings against the petitioner. in support of his contention that by .....
Tag this Judgment!Court : Kolkata
Reported in : [1976]38STC163(Cal)
..... he submitted that it is not always possible to reopen an assessment even though clause (la) has been given retrospective operation by the west bengal taxation laws (amendment) act. he submitted that the assessment must be completed within four years. after completion of the assessment, a further period of four years is available to ..... a measure, which must be held to be unreasonable and, therefore, the provision in sub-section (1) of section 4 of the west bengal taxation laws (amendment) act by which retrospective operation has been given to the definition of 'business' must be struck down. we are of the opinion that the manner in which ..... taxation laws (amendment) act, 1968. by the said amending act, the second ordinance was repealed. by section 4 of the said amending act, section 4 of the second ordinance was re-enacted. by the west bengal taxation laws (amendment) act, 1969 (act 25 of 1969), the earlier act was repealed and by section 4 of the said act, section 4 of the earlier act was .....
Tag this Judgment!Court : Kolkata
Reported in : [1979]118ITR906(Cal)
..... arguments were advanced on behalf of the assessee.14. the division bench held (p. 264) :'in the facts and circumstances of the case and in the light of the law as cited above, the contentions of mr. pranab pal cannot be stated to be without substance. from the notice in this case it cannot be ascertained who is the assessee ..... it is well settled that if the commissioner does not apply his mind and grants the sanction mechanically, there is no valid sanction by the commissioner in the eye of law and the notice under such circumstances must be considered to be bad. in support of this submission the learned advocate-general has referred to the decision of the supreme court ..... be tested or judged in the light of the conduct of the parties concerned. if the notice itself is otherwise invalid or bad in law, the invalidity or illegality of the notice cannot be cured by any act of the assessee to whom the said notice is issued. the legal effect remains that if no valid notice has been issued and the .....
Tag this Judgment!Court : Kolkata
Reported in : [1978]111ITR825(Cal)
..... , i.e , 1954-55, ended on 31st march, 1956, under the unamended act and though the amending act retrospectively extended the period to two years with effect from 1st april, 1956, the proceedings which were available before the amendment had become barred before that date. this decision does not in our opinion apply in ..... or reserve, (b) proposed addition to reserve, and (c) sinking fund.32. correspondingly, under the head 'current liabilities and provision', sub-head 'provision' came, (1) provision for taxation; (2) proposed dividend; (3) for contingencies; (4) provident fund scheme; (5) for insurance and similar several bonus schemes ; (6) other provisions.33. mr. roy contended ..... statutory form under the heading 'current liabilities and provisions'.41. on careful consideration of the respective submissions.it appears to us that in view of the law laid down by the supreme court in the case of mysore electrical industries ltd. : [1971]80itr566(sc) , the contentions of the assessee cannot be .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1976Cal32
..... government to amend the schedule to the act providing for exemption from sales tax, was challenged on the ground of excessive delegation of legislative power. venkatarama aiyar, j., said:''now, the authorities are clear that it is not unconstitutional for the legislature to leave it to the executive to determine details relating to the work of taxation laws, such ..... to time, repaired at the expenses of the government of west bengal;now, therefore, in exercise of the power conferred toy section 2 of the indian tolls act, 1851 (act 8 of 1851) the governor is pleased hereby to direct that rates of tolls specified in part ii of the said schedule shall toe levied on each of ..... birbhum challenging the levy tolls with regard to dwarakeswar, mayurakshi and ajoy bridges. it is unnecessary to state the facts of each individual case, since common points of law arise in all the writ petitions. so my order in this rule shall govern all these writ petitions. 3. an affidavit-in-opposition has been filed on .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1975Cal450,79CWN996
..... cannot, as pointed out in crawford v. spooner, (1846) 6 moo pc 1, aid the legislature's defective phrasing of an act or add and amend or by construction, make up deficiencies which are left in the act. even where there is causus omissus, it is, as said by lord rusell of killowen in hansraj gupta v. dehra dun ..... of two judges drew the attention of the chief justice to the fact that the cases involved matters of importance including the question whether certain division bench decisions were good law. the chief justice thereupon constituted a larger bench of three judges. in paragraphs 6 and 7 of the judgment this larger bench (described as full bench) observes ..... jj. on 24th december, 1974. the reference was held to be incompetent and the case was sent back to the referring judge for being dealt with in accordance with law. it was observed that the referring judge did not express his disagreement but merely stated that the matter needed to be reconsidered. the reference, therefore, was not in .....
Tag this Judgment!Court : Kolkata
Reported in : [1977]108ITR253(Cal)
..... down the book value of the goodwill by rs. 30 lakhs in that very year. the sole motivefor the reduction in the value of the goodwill was the companies (amendment) act, and there was no tax evasion nor even any tax avoidance angle to it. the subsequent annual reductions in value of the goodwill were also similarly motivated.11. it ..... or as purely capital loss.32. in the case of commissioner of income-tax v. gangadhar banerjee and co. (p.) ltd. : [1965]57itr176(sc) the supreme court approved the law as laid down by the judicial committee in the case of commissioner of income-tax v. williamson diamonds ltd. [1959] 35 itr 290. in that case, the judicial committee had ..... of income-tax v. chunilal prabhudas & co. : [1970]76itr566(cal) was cited before the tribunal in support of the contentions of the department. the tribunal found that the law laid down in that case did not apply to the facts and circumstances of the case before it.16. in the present reference before us, mr. b.l. pal, learned .....
Tag this Judgment!Court : Kolkata
Reported in : (1976)5CTR(Cal)180
..... it might form a useful code applicable to the circumstance existing at the time when the consolidating act was passed. relying on the aforesaid observations, counsel submitted, the purpose of the income-tax act, 1961 was to consolidate all other taxation laws and, therefore, the imposition of levies on the capital value of the assets contained in other ..... perhaps impossible to define in any precise general formula. it was a word of widest connotation. the indian income-tax and excess profits tax (amendment) act (act xxii of 1947) which amended the indian income-tax act, 1922 by enlarging the definition of the term 'income' in section 2 (6-c) so as to include capital gain and adding ..... by the supreme court in an appeal from the decision in a reference under the indian income-tax act, 1922 and supreme court was concerned with the vires of the indian income-tax and excess profits tax (amendment) act. it is now well settled that the supreme court is not competent to decide the question of vires .....
Tag this Judgment!Court : Kolkata
Reported in : [1978]111ITR934(Cal)
..... [1969]74itr651(ap) , where the division bench of the andhra pradesh high court held that when the land was taken over by the government under the land acquisition act, the right of the owner to compensation was an inchoate right till the compensation was actually determined and had become payable. but once it became payable, the determination ..... to enhance the rent on the ground that rs. 484 was the amount which was fixed as the standard rent as per provisions of the west bengal rent control act. in the premises according to the government, the petitioner was not entitled to any enhanced rent. the petitioner, thereafter, served a notice dated 25th august, 1962, ..... 484 as letting value of the said premises as it would be contrary to law or excess of standard rent. counsel also drew my attention to the relevant provisions of sub-section (2) of section 8 of the requisitioning and acquisition of immovable property act, 1952. it appears that the amount of compensation is paid on various counts .....
Tag this Judgment!