Kolkata Court August 1967 Judgments
Browse smarter
Open an 18-section brief on any judgment
Structured AI Brief in seconds on any result - plus Semantic Search when you need meaning, not just keywords.
- AI Brief & Ask
- Semantic AI Search
- Devil's Bench
Credentials emailed - log in to pick up where you left off.
Smt. Radha Devi Saraogi Vs. Controller of Estate Duty
Court: Kolkata
Decided on: Aug-01-1967
Reported in: [1968]38CompCas314(Cal),72CWN696,[1968]68ITR521(Cal)
Banerjee, J.1. This reference, under Section 64(1) of the Estate Duty Act, 1953, has been made in the circumstances hereinafter stated.2. One Ramjiwan Saraogi died on July 13, 1955. He was, at all material times, the karta of Hindu undivided family consisting of himself, his wife and two minor sons. The share of the deceased, in the undivided family, was, as such, only one-fourth. During the lifetime of the deceased, he effected a number of insurances on his own life. All the policies were, it is said, assigned by the deceased in favour of his wife. The total amount receivable under the said policies was Rs. 2,01,036.3. In computing the principal value of the estate, for the purpose of assessment of estate duty, the question arose whether the insurance money, amounting to Rs. 2,01,036, should be treated as the absolute property of the deceased or the property of the Hindu undivided family, of which the deceased was the karta. The widow of the deceased, Sm. Radha Debi Saraogi, who is th...
Commissioner of Income-tax, West Bengal Vs. Abhijit Sen.
Court: Kolkata
Decided on: Aug-01-1967
Reported in: [1968]68ITR23(Cal)
BANERJEE J. - This is a reference under section 66(1) of the Indian Income-tax Act, 1922.The assessment year involved is the year 1960-61, corresponding to the previous year ended on September 30, 1959.The reference has been made in the circumstances hereinafter stated in brief. The assessee, Abhijit Sen, during the relevant period was a director of a private company known as Messrs. Sen and Pandit Private Ltd. He used to receive a sum of money by way of salary and a further sum by way of house allowance. The assessee himself, his brother, Sanjoy, and his father, Sudhir Kumar, were also sharesholders in the private company and used to receive dividends declared by the company on their respective shares. On February 5, 1958, Sudhir Kumar transferred, by way of gift, 10,000 shares in the private limited company to the wives of his two sons, namely, the assessee and Sanjoy, each getting 5,000 shares. On the same day, the assessee and Sanjoy each made a gift of 5,000 shares in the private ...
- ‹ Prev
- 1
- 2
- Next ›