Kolkata Court April 1946 Judgments
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General Family Pension Fund Vs. Commissioner of Income-tax, Bengal.
Court: Kolkata
Decided on: Apr-12-1946
Reported in: [1946]14ITR488(Cal)
GENTLE, J. - The General Family Pension Fund was incorporated under the Indian Companies Act, 1882 on 17th August, 1906; it is a company limited by guarantee; it has no share capital and its members are confined to persons who are subscribers for grants of pensions and annuities and who hold entrance certificates; the liability of each member is limited to a nominal sum of Rs. 5; since it complied with the provisions of Section 26 of the above Act, a licence was granted by the Bengal Government permitting the company to be registered without the word 'limited' being included in its name.The objects of the company, as contained in its Memorandum of Association, inter alia, are :-3. (a) To acquire and take over as a going concern and to carry on and conduct and continue the objects of an existing unincorporated association or institution called the General Family Pension Fund founded and formed for the purpose of carrying on any business that has for its objects the acquisition of gain w...
Ballygunge Bank Ltd., Calcutta Vs. Commissioner of Income-tax, Bengal.
Court: Kolkata
Decided on: Apr-12-1946
Reported in: [1946]14ITR409(Cal)
GENTLE, J. - This reference under Section 66(1) of the Income-tax Act is made by the Income-tax Appellate Tribunal at the instance of the assessee, the Ballygunge Bank, Ltd. The question referred for the opinion of the Court is :-'Whether in the circumstances of the case the rent derived from the buildings erected by the assessee was properly assessed under Section 9 of the Income-tax Act ?'The assessees are a public limited company, one of their objects being to acquire land by purchase, lease or otherwise, to deal in such land or to build houses thereon and to deal in or let out such houses.By deed of lease dated 28th February, 1936, the lessors let to the assessees, as lessees, vacant piece of land (including a tank) of an area exceeding 6 bighas for the term of 40 years at a progressive monthly ground rent therein specified. The lease provided, inter alia, that :-'Clause 5. The assessees would be entitled to parcel the land into a number of plots and to erect buildings etc., thereo...
Sm. Lilabati Vs. Guruprosad Baruah
Court: Kolkata
Decided on: Apr-05-1946
Reported in: AIR1947Cal259
Biswas, J.1. The plaintiff is the appellant in this case, and she brought the suit, out of which this appeal arises, for a declaration that her title to one-third share in certain properties in the town of Gauhati, which she had inherited from a deceased son, had not been affected by a sale in execution of a money decree. The trial Court decreed the suit, but on appeal the Special Subordinate Judge, Assam Valley Districts, reversed the decision.2. The facts were as follows. One Lakshmiram Bisaya died, leaving two widows, Lilabati and Goneswari, and three sons, Barada, Nagendra and Kanak, by Lilabati, and one Harendra, by Goneswari. Lilabati is the plaintiff and Harendra is defendant 2, while Barada and Nagendra are defendants 3 and 4, Kanak having died before the date of the suit. Upon Lakshmiram's death, his properties devolved upon his four sons. Then there was a partition amongst the parties, by virtue of which the sons by Lilabati, namely, Barada, Nagendra and Kanak, got certain pr...
Upendra Narayan Chatterjee and ors. Vs. Sudhir Chandra Jana and ors.
Court: Kolkata
Decided on: Apr-05-1946
Reported in: AIR1947Cal172
1. On 30-6-1915 Madan Mohan Jana and his wife Barada Kumari borrowed Rs. 20,000 from Adhar Chandra Chatterjee on a mortgage at compound interest of 9 per cent per annum with yearly rests. The property secured by the mortgage was Touzi No. 2901 of the 24-Perganas Collectorate. A suit instituted in 1930 by the two sons and legal representatives of Adhar Chandra on the said mortgage resulted on 9-7-1930 in a consent decree for Rs. 70,000 made payable in twenty-five annual instalments (Ex. A). On 15-7-1915 Madan Mohan alone borrowed from the same person Rs. 40,000 on a mortgage at 9 per cent, compound interest with yearly rests. The security was Touzi No. 2902 of the 24-Parganas Collectorate. A consent decree (Ex. A. 2) was passed on this mortgage on 11-7-1930, for the sum of Rs. 1,40,000 and the said amount was made payable in twenty-five yearly instalments. On 30-8-1915 Madan Mohan and his wife Barada Kumari again borrowed from the same person a further sum of Rs. 20,000 on the same inte...
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