Kolkata Court January 1965 Judgments
Macneill and Berry Ltd. Vs. Commissioner of Wealth Tax
Court: Kolkata
Decided on: Jan-29-1965
Reported in: AIR1966Cal6,[1966]59ITR209(Cal)
Mitter, J.1. The question referred to thisCourt under Section 27(1) of the Wealth Tax Act is as follows:'Whether on the facts and in the circumstances of the case, the amounts appearing inthe Company's balance sheets as on 31-3-1957 and 31-3-1958 after 31-3-1958 as liabilities for taxes in respect of which the assessments were still pending and dividends which were proposed but not declared were deductible in determining the net wealth of the company for the assessment years 1957-58 and 1958-59?'2. The question really comprises two distinct and separate matters. The first part concerns an amount of Rs. 13,26,251 which the Company estimated to be due on account of taxes in respect of a period upto March 31, 1957 for which the assessment had not been completed, and another sum of Rs. 11,19,126 being an estimated amount of income tax for the year ending March 31, 1958. The second part of the question concerns an amount of Rs. 12,00,000 representing the dividends proposed by the Directors ...
Tag this Judgment!Tea Estates India Private Ltd. Vs. Commissioner of Wealth Tax
Court: Kolkata
Decided on: Jan-29-1965
Reported in: AIR1966Cal9,69CWN428,[1966]59ITR428(Cal)
Masud, J.1. The facts relevant to this reference under Section 27(1) of the Wealth Tax Act are as follows:2. The relevant Wealth Tax assessment years relate to 1957-58, 1958-59 and 1959-60, the corresponding valuation dates of which are 30th June 1956, 30th June 1957 and 30th June 1958 respectively. The assessee is a limited company engaged in the business of growing, manufacturing and selling tea and owns tea estates in India. In respect of the assessment for the years 1957-58 and 1958-59, the assessee claimed deductions for the value of their water supply system representing water tanks, pipelines etc. and roads and bridges employed and used in the assessee's tea estates in computing the net wealth of the assessee on the valuation dates. The relevant amounts are Rs. 14,057 and Rs. 16,690 being the value of water supply for the two years respectively aiid Hs. 33,702 and Rs. 31,948 being the value of roads and bridges respectively for the two years. The assessee also claimed that a par...
Tag this Judgment!Akshoy Kumar Dey and Co. Vs. Commercial Tax Officer and ors.
Court: Kolkata
Decided on: Jan-29-1965
Reported in: [1966]18STC505(Cal)
B.C. Mitra, J.1. This is an appeal against a judgment and order of Banerjee, J., dated 14th January, 1963, discharging a rule obtained by the appellant under Article 226 of the Constitution.2. The appellant is a partnership firm and carries on business as a dealer in bullion and also as wholesale and retail distributor of bullion and specie and manufacturer of ornaments and utensils. In 1941 it was registered under the Bengal Finance (Sales Tax) Act and was granted a registration certificate bearing number CS/4517A. Under this certificate the appellant could purchase bullion, without paying sales tax, for the purposes of manufacture only. But the certificate did not cover the purchase and resale of bullion and specie, as such.3. Under the Bengal Finance (Sales Tax) Act, 1941, transactions in bullion and specie were not liable to sales tax, as provided in serial No. 22 of the Schedule of exempted goods under Section 6 of the Act. The Act however was amended in 1955 by the Bengal Finance...
Tag this Judgment!Commissioner of Wealth-tax, Calcutta Vs. Tungabhadra Industries Ltd.
Court: Kolkata
Decided on: Jan-29-1965
Reported in: [1966]60ITR447(Cal)
MITTER J. - In this reference under section 27(1) of the Wealth-tax Act, 1957, the question referred to the court is :'Whether, on the facts and in the circumstance of the case, for the purpose of dertermining the net value of the assets of the assessee under section 7(2) of the Wealth-tax Act, 1957, the Tribunal was right in directing that the written down value of the fixed assets of the assessee should be adopted as the value thereof, instead of their balance-sheet value ?'The facts taken from the statement of the case are as follows :The relevant assessment years are 1957-58, 1958-59 and 1959-60 and the valuation dates for these applications are September 30, 1956, September 30, 1957, and September 30, 1958. In assessing the net wealth of the assessee, the Wealth-tax Officer proceeded under section 7(2)(a) of the Wealth-tax Act and included in the computation the entire balance-sheet value of the assets without any adjustment. The assessee contended that so far as the fixed assets ...
Tag this Judgment!Shri Kishan Rathi Vs. Mondal Brothers and Co. (Private) Ltd. and anr.
Court: Kolkata
Decided on: Jan-27-1965
Reported in: [1967]37CompCas256(Cal),70CWN164
P.B. Mukharji, J.1. This application under article 227 of the Constitution raises an important point of company law.2. The dispute arises on a loan of Rs. 1,000 granted by the plaintiff-petitioner to the defendant company on a bill of exchange being a hundi for Rs. 1,000. On November 22, 1958, the defendant limited company drew a hundi for Rs. 1,000 on the second defendant, Ram Chandra Nag, who is also an opposite party here, payable to the plaintiff 90 days after date without grace which was accepted by the second defendant. It is the plaintiff's case that the hundi was presented to the defendants for payment but the hundi was dishonoured. The plaintiff sent letters of demand, but the money due was not paid. There was a reply by the defendant company on August 3, 1959, denying the hundi and the loan. The plaintiff filed the present suit on December 3, 1959, before the Small Cause Court, Calcutta.3. The trial court decreed the suit of the plaintiff in full with costs. The only contesta...
Tag this Judgment!Sri Kishan Rathi Vs. Mondal Bros. and Co. (P) Ltd. and anr.
Court: Kolkata
Decided on: Jan-27-1965
Reported in: AIR1967Cal75
ORDER1. This application under Article 227 of the Constitution raises an important point of Company law.2. The dispute arises on a loan of Rupees 1000 granted by the plaintiff-petitioner to the defendant company on a bill of exchange being a Mundi for Rs. 1000. On the 22nd November, 1958, the defendant limited company drew a Hundi for Rs. 1000 on the second defendant Ram Chandra Nag who is also an opposite party here, payable to the plaintiff 90 days after date without grace which was accepted by the second defendant. It is the plaintiff's case that the Hundi was presented to the defendants for payment but the Hundi was dishonoured. The plaintiff sent letters of demand, but the money due was not paid. There was a reply by the defendant company on the 3rd August, 1959, denying the Hundi and the loan. The plaintiff filed the present suit on the 3rd December, 1959, before the Small Causes Court, Calcutta.3. The trial Court decreed the suit of the plaintiff in full with costs. The only con...
Tag this Judgment!Krishnalal Sadhu and ors. Vs. State of West Bengal and ors.
Court: Kolkata
Decided on: Jan-27-1965
Reported in: AIR1967Cal275
Bose, C.J. 1. This is an appeal from an Order of G.K. Mitter, J. dated the 27th August 1959 discharging a Rule issued under Article 226 of the Constitution. 2. The appellant No. 1 Krishnalal Sadhu (since deceased) and the appellants Nos. 2, 3 and 4 were the owners of C. S. plots Nos. 5246, 5248, 5249 and 5250 of mouza Chinsurah in the district of Hooghly measuring more or less 13 eottahs or Order 271 acres of land. On the 9th June 1946 a notification was issued under Section 4 of the Land Acquisition Act for acquisition of the said plots. In the said notification it was stated that the said plots were likely to be required to be taken by Government partly at the public expense and partly at the expense ot Chinsurah Balika Bani Mandir H.E. School for a public purpose, namely, for a playground and hostel for students and teachers of the said Institution. After the issue of the said notification objections were invited under Section 5-A of the Land Acquisition Act. The appellant Krishnala...
Tag this Judgment!Gulsan Bibi and ors. Vs. Sabaratan Bibi and ors.
Court: Kolkata
Decided on: Jan-25-1965
Reported in: AIR1966Cal213,69CWN416
ORDERP.B. Mukharji, J.1. In this matter, a second appeal had been filed which has since been dismissed as being incompetent. The present application under Section 115 of the Code of Civil Procedure now remains to be disposed of.2. The application arises out of an order setting aside an auction sale held by the Court on the ground of fraud in suppressing the process and summons of the Court in respect of the sale held. It has been found by both the Courts as a fact that there were material irregularity and fraud in publishing and conducting the sale. That finding of fact, supported both by oral and documentary evidence on record, cannot now be questioned in this application.3. The only point argued by Mr. Lala Hemanta Kumar for the petitioner is that the lower appellate Court was wrong in not holding that the application to set aside the sale was barred by limitation under Section 18 of the Limitation Act. His main argument on Section 18 of the Limitation Act follows from the following ...
Tag this Judgment!Phonographic Performance (Eastern) (Private) Ltd. Vs. Commissioner of ...
Court: Kolkata
Decided on: Jan-21-1965
Reported in: AIR1966Cal92
Mitter, J. 1. The two questions referred to this Court under Section 66 (1) of the Income-tax Act are as follows:'1. Whether on the facts and in the circumstances of the case, the sums of Rs. 1,39, 439 and Rs. 1, 57, 453 were assessable as the income of the applicant company for the assessment years 1956-57 and 1957-58 respectively? 2. Whether on the facts and in the circumstances of the case, the applicant company was rightly denied the full rebate in super tax on account of dividends distributed during the relevant previous years?' 2. The facts are as follows: The assessee is a private company limited by guarantee not having a share capital incorporated in April 1941. Originally it had only five members all of whom were engaged in manufacturing gramophone records, perforated rolls and other contrivances for production of sound mechanically. In the relevant accounting years there were eight more members. The main objects of the company, according to clause 3 of its memorandum of assoc...
Tag this Judgment!Commissioner of Income-tax Vs. Sudhir Kumar Laha and anr.
Court: Kolkata
Decided on: Jan-21-1965
Reported in: AIR1965Cal476
Mitter, J. 1. This is a reference under Section 66(1) of the Act the question referred being- 'Whether on the facts and circumstances of the case the assessment under Section 34(1) (a) was correctly set aside ?' 2. The facts are as follows : One Joggeswar Laha by his will dated December 22, 1920 appointed his wife Nrityakali Dassi, his nephew Anath Krishna Laha and one Radha Kanto Paul as executrix, executors and trustees of his will. He bequeathed his business solely to his said nephew and devised and dedicated rights in his properties both movable and immovable and all the rest and residue of his estate including the outstandings of his business to various religious and charitable trusts. He further directed thereby that his executrix, executors and trustees should stand possessed of all his properties both movable and immovable upon trust to collect all his assets and spend Rs. 5,000/- for the purpose of his Adyashradha ceremony and the sum of Rs. 2500/-for the similar ceremony of h...
Tag this Judgment!- ‹ Prev
- 2
- Next ›
- Last »