Guwahati Court May 1996 Judgments
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J.D. Enterprises Vs. Commissioner of Income-tax
Court: Guwahati
Decided on: May-31-1996
D.N. Baruah, J. 1. Pursuant to the direction given by this court by a judgment and order, dated August 2, 1988, passed in Civil Rule No. 3(M) of 1986 under Section 256(2) of the Income-tax Act, 1961, the following twoquestions have been referred by the Income-tax Appellate Tribunal for theopinion of this court : '1. Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the Form No. 11 filed along with the deed was defective and if so whether the said defect is rectifiable under the provisions of Section 185(2) of the Income-tax Act, 1961 ?2. Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in reversing the order of the Appellate Assistant Commissioner granting registration of the firm ?'2. The Income-tax Officer, A-Ward, Digboi, while passing the order under Section 185 found that the assessee-firm was constituted by a deed of partnership dated February 23, 1978, with three partners, namely, ...
B.C. Gupta and Sons Ltd. Vs. Commissioner of Income-tax
Court: Guwahati
Decided on: May-31-1996
N.S. Singh, J. 1. This reference has been made at the instance of the assessee under Section 256(1) of the Income-tax Act, 1961, by the Income-tax Appellate Tribunal with three questions, stated to be questions of law, arising out of the order dated March 19, 1992, passed by the Income-tax Appellate Tribunal in I. T. A. No. 108/(Gau) of 1990, for opinion of this court. The questions referred to us are quoted below : '(i) Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the transfer took place on the date of taking possession by the Government even though initial compensation/advance had been determined and became payable in subsequent years ? (ii) Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the land was legally transferred within the meaning of Section 17 of the Land Acquisition Act, 1894, when the land was neither waste or arable ? (iii) Whether, on the facts and in the circu...
Amrit Kumar Khatoniar Vs. Oil India Ltd. and 4 ors.
Court: Guwahati
Decided on: May-31-1996
J.N. Sarma, J.1. This application has been filed with a prayer to restore the seniority of the petitioner in the service along with his alleged continuity and with a further prayer for direction that he be promoted with immediate effect to Grade-III to which he is entitled as per Oil Executives Recruitment and Promotion Rules, 1990. The further prayers are:(ii) To pay to the petitioner all the arrears with effect from July 2, 1983 till December 7, 1990 with interest.(iii) That the petitioner be not harassed in any way or by way of transfer from present place of posting to any other place.2.The brief facts of the case are as follows:3.The petitioner passed his BE examination from Assam Engineering College, Gauhati in the year 1981. The petitioner joined Oil India Limited, Duliajan (hereinafter referred to OIL) as Executive Trainee on November 8, 1982 after having been selected through written test and Viva Voce as per Rules and practice of OIL. The petitioner was to undergo one year tr...
Commissioner of Income Tax Vs. Assam Plantation Crops Development Corp ...
Court: Guwahati
Decided on: May-31-1996
D. N. BARUAH J., :The Tribunal, Guwahati Bench, Guwahati, pursuant to the direction given by this Court under s. 256(2) in Civil Rules Nos. 1(M), 2(M), 8(M) and 13(M) of 1987 has referred the following question for opinion of this Court :'Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that the interest earned by the assessee on money kept in fixed deposits with a bank, was not assessable under the IT Act, 1961, because the said money so kept in fixed deposits was to be used later as capital for starting the business of the assessee and hence the interest earned was capital receipt, even though the assessee had some business transactions in the sale of ginger and coffee seedlings during the accounting year in which the interest was earned ?'2. The assessee is a State Government undertaking engaged in rubber, coffee and onion plantations in different parts of the State. The entire share capital was held by the State Government. I...
Agartala Nail Industries and anr. Vs. Union Bank of India, Agartala Br ...
Court: Guwahati
Decided on: May-31-1996
1. This Misc. Application has been filed by the appellant under Order XXXIII, Rule 1 read with Section 151 of the C.P.C. 2. The petitioner as appellant filed First Appeal No. 126/94 under Order XLI, Rule 1, C.P.C. read with Section 96, C.P.C. against the judgment and decree dated 3-5-94 passed by the learned Asstt. District Judge, West Tripura in Title Suit No. 101 (Mort) of 1988. 3. Petitioner No. 2 herein is the proprietor of the firm/factory, namely, Agartala Nail Industries (petitioner No. 1). 4. Petitioner's case in the suit is that the petitioner took loan amounting to Rs. 1,01,165/-from the plaintiff-Union Bank of India, a Nationalised Bank, as term loan for plant and machinery, shed etc. and Rs. 38,000/- under cash credit loan for accommodation as working capital in the name of the firm. As the defendant (appellant/ petitioner) failed to repay the loan amount the suit was filed for recovery of dues outstanding in cash credit loan account and term loan account secured by guara...
Commissioner of Income-tax Vs. Assam Plantation Crops Development Corp ...
Court: Guwahati
Decided on: May-31-1996
D.N. Baruah, J. 1. The Income-tax Appellate Tribunal, Guwahati Bench, Guwahati, pursuant to the direction given by this court under Section 256(2) in Civil Rules Nos. 1(M), 2(M), 8(M) and 13(M) of 1987 has referred the following question for opinion of this court ; ' Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that the interest earned by the assessee on money kept in fixed deposits with a bank, was not assessable under the Income-tax Act, 1961, because the said money so kept in fixed deposits, was to be used later as capital for starting the business of the assessee and hence the interest earned was capital receipt, even though the assessee had some business transactions in the sale of ginger and coffee seedlings during the accounting year in which the interest was earned ?' 2. The assessee is a State Government undertaking engaged in rubber, coffee and onion plantations in different parts of the State. The entire share ca...
Akshay Bhandar Vs. Commissioner of Income-tax
Court: Guwahati
Decided on: May-30-1996
D.N. Baruah, J.1. The Income-tax Appellate Tribunal at the instance of the assessee referred the following three (3) questions under Section 256(1) of the Income-tax Act, 1961 (for short, 'the Act') for opinion of this court : '(1) Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in reversing the order of the Commissioner of Income-tax (Appeals) and in restoring the order of the Income-tax Officer imposing a penalty of Rs. 32,208 under Section 271(1)(c) of the Income-tax Act, 1961 ? (2) Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that the penalty of Rs. 32,208 was correctly levied in the instant case under Section 271(1)(c) of the Income-tax Act, 1961, referring and relying on the Explanation 1 to the said section ? (3) Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in reversing the order of the Commissioner of Income-tax (Appeals) de...
Bezbaruah Tea Co. (P.) Ltd. Vs. Commissioner of Income-tax
Court: Guwahati
Decided on: May-29-1996
D.N. Baruah, J. 1. In this reference under Section 256(1) of the Income-tax Act, 1961, the following question has been referred by the Income-tax Tribunal, Gauhati Bench, Gauhati, for the opinion of this court : ' Whether, on the facts and in the circumstances of the case and on proper interpretation of law and rules thereof, the Tribunal is correct in holding that the assessee-company will not be entitled to the benefit of lower rate as an industrial company, as, under Rule 8 of the Income-tax Rules, 1962, 40 per cent. of the combined income (both agricultural and non-agricultural) is liable to tax under the Income-tax Act, 1961 ?'2. The assessee is a company incorporated under the Companies Act and owns a tea estate and carries on the business of tea plantation and sale of tea. The company is an assessee under the Income-tax Act. For the assessment year 1982-83, the Income-tax Officer observed that the company was assessed at a non-industrial rate. The composite income from agricult...
Commissioner of Income Tax Vs. India Carbon Ltd.
Court: Guwahati
Decided on: May-28-1996
D. N. BARUAH, J. :In this reference under s. 256(1) of the IT Act, 1961, the following two questions have been referred for opinion of this Court :'1. Whether the Tribunals finding that the expenditure of Rs. 1,38,000 incurred by the assessee for obtaining a feasibility report for converting coke plant to a cement plant is not a capital expenditure is sustainable in law ?2. Whether the Tribunal was justified in allowing the claim of deduction of Rs. 1,38,000 as revenue expenditure ?'2. The assessee is a company carrying on a business of manufacturing of petroleum coke. But for some reasons, the assessee-company found that the said calcination plant at Budge Budge was not going well since 1979, and the assessee-company explored the possibility of manufacturing of cement. For that purpose, the assessee-company entrusted the two companies, namely, J. C. B. Pvt. Ltd., and J. R. C. I. Ltd., to submit a feasibility report for converting the existing Coke kiln to a cement plant without makin...
Commissioner of Income-tax Vs. India Carbon Ltd. (No. 2)
Court: Guwahati
Decided on: May-28-1996
D.N. Baruah, J. 1. In this reference under Section 256(1) of the Income-tax Act, 1961, the following two questions have been referred for opinion of this court ; ' 1, Whether the Tribunal's finding that the expenditure of Rs, 1,38,000 incurred by the assessee for obtaining a feasibility report for converting coke plant to a cement plant is not a capital expenditure is sustainable in law ? 2, Whether the Tribunal was justified in allowing the claim of deduction of Rs. 1,38,000 as revenue expenditure ?' 2. The assessee is a company carrying on a business of manufacturing of petroleum coke. But for some reasons, the assessee-company found that the said calcination plant at Budge Budge was not going well since 1979, and the assessee-company explored the possibility of manufacturing of cement. For that purpose, the assessee-company entrusted the two companies, namely, J. C. B. Pvt. Ltd., and J. R. C. I. Ltd., to submit a feasibility report for converting the existing coke kiln to a cement...
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