Kolkata Court February 1963 Judgments
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Commissioner of Income-tax, Calcutta Vs. Associated Clothiers Ltd., Ca ...
Court: Kolkata
Decided on: Feb-05-1963
Reported in: AIR1963Cal629
P.B. Mukharji, J. 1. In this Reference under Section 66(2) of the Income-tax Act the High Court directed the Tribunal to refer the following question for its decision:'Whether on the facts and in the circumstances of the case the Tribunal was right in holding that the sum of Rupees forty thousand two hundred and forty seven could not be deemed to be profits of the assessee company under second proviso to Section 10(2) (vii) of the Indian Income-tax Act?'2. The assessee is Associated Clothiers Ltd. of 21, Old Court House Street, Calcutta and is a private Limited Company. It was formerly carrying on business as clothiers and dealers under the name of M/S Phelps and Company Limited. M/S Phelps and Co. started as a partnership on the 5th February, 1912 and was later converted into a Limited Company on the 30th September, 1939, On the 21st March, 1952 the name of Phelps and Company Ltd. was changed into the name of the assessee. But on the same day a new Phelps and Co. was incorporated. On ...
Bengal Jute Mill Co. Ltd. Vs. Lalchand Dugar
Court: Kolkata
Decided on: Feb-04-1963
Reported in: AIR1963Cal405
Sinha, J.1. This is an appeal against an order made by Ray, J. dated the 29th May, 1962 staying the suit filed by the respondent-appellant being suit No. 1432 of 1961 (Bengal Jute Mill Co. Ltd. v. Lalchand Dugar) and all proceedings thereunder. The facts are as follows: On or about 10th October, 1960 the petitioner agreed to buy from the respondent and the respondent agreed to sell to the appellant 80,000 bags of 8. Twills manufactured by the respondent, at the rate of Rs. 160/- per 100 bags, free alongside export vessel in the Port of Calcutta. The contract, being contract No. 280 dated 10th October, 1980, was made by an exchange of bought and sold notes made in the usual form of the East India Jute and Hessian Exchange Ltd., Calcutta through a broker S. N. Goenka who is a licensed broker of the said Exchange. Both the bought and sold notes contained a written condition that delivery of the goods was to be given against payment in cash positively on 10th October, 1960 against Mill's p...
Rebati Ranjan Chakravarti Vs. Suranjan Chakravarti and ors.
Court: Kolkata
Decided on: Feb-04-1963
Reported in: AIR1963Cal642
Sinha, J.1. This is an appeal against an order passed by Mallick, J. on the 28th August, 1962 whereby he dismissed two applications for the appointment of a Receiver, one in respect of a Trust known as the 'Ram Ranjan Trust', and another in respect of a Trust Known as the Brojabala Trust. The applications were dismissed on a preliminary ground, namely, that the Court had no jurisdiction to entertain them. The Court did not adjudicate on the merits of the applications. The short facts are as follows: Maharaja Ram Ranjan Chakravartti of Hetampur created a trust known as the 'Ram Ranjan Trust', by a Deed of trust dated 11th August, 1887; and his wife Maharani Padma Sundari Debi created another trust called the 'Brojabala Trust' by a Deed of trust dated 27th February, 1895. These trusts related to various immoveable properties situated outside the jurisdiction of this Court. The trusts were created for various purposes including the Seva Puja of certain deities and for certain charitable p...
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