Kolkata Court December 1974 Judgments
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Riverside (Bhatpara) Electric Supply Co. Ltd. Vs. Commissioner of Inco ...
Court: Kolkata
Decided on: Dec-12-1974
Reported in: [1977]109ITR399(Cal)
Sabyasachi Mukharji, J.1. The assessee is a company carrying on business of the distribution of electricity. It has service lines through which electricity is transmitted for distribution. In the case of such service lines a portion of the cost thereof is borne by the consumer concerned. Prior to the coming into force of the Income-tax Act, 1961, the Indian Income-tax Act, 1922, then in force, provided for depreciation allowance on such service lines. At that time question arose as to whether the contribution received from the consumers of electricity in respect of the service lines would go to reduce the actual cost of the said assets for the purpose of calculation of depreciation. In the case of Commissioner of Income-tax v. Ranchi Electric Supply Co. Ltd. : [1954]26ITR89(Patna) , it was held by the Patna High Court that the 'actual cost' was the actual cost incurred in installing the connections irrespective of any contribution received from any consumer. Consequently, the amount pa...
J. Stone and Company Vs. Fifth Industrial Tribunal and ors.
Court: Kolkata
Decided on: Dec-10-1974
Reported in: (1976)IILLJ73Cal
B.C. Basak, J.1. In this application under Article 226 of the Constitution of India the petitioner-company is challenging an order passed by the 5th Industrial Tribunal (hereinafter referred to as the Tribunal) on the 16th August, 1972 in a reference made by the Government of West Bengal on the 6th May, 1971 (hereinafter referred to as the said reference) under Section 10 the Industrial Disputes Act, 1947 (hereinafter referred to as the said Act).2. The facts of this case are shortly as follows: The petitioner-company has its registered office and a factory at 16, Taratolla Road, Calcutta. It carries on the business of manufacture and sale of train and other railway equipments. In the year 1948 an award was made which is known as First Omnibus Engineering Tribunal Award. 'The petitioner-company and its workmen were party to the same. The issues referred to for adjudication on were, amongst others, 'Minimum basic pay and scales of pay', 'Dearness allowances', 'Holidays and leave.' The s...
Rakhal Chandra Banerjee Vs. Commissioner of Income-tax
Court: Kolkata
Decided on: Dec-05-1974
Reported in: [1978]113ITR419(Cal)
Sabyasachi Mukharji, J. 1. In this reference under Section 256(1) of the Income-tax Act, 1961, we are concerned with the assessment years 1964-65 and 1965-66 for which the relevant accounting years are the years ending on 31st March, 1964, and 31st March, 1965, respectively. The assessee is an individual. He carries on business of executing contracts for the Executive Engineer, North Bengal Construction Division, and the Executive Engineer, Torsa Bridge Construction. The assessee received gross amounts of bills amounting to Rs. 4,93,995 for the assessment year 1964-65 and Rs. 4,43,982 for the assessment year 1965-66. As the assessee did not maintain any books of account the Income-tax Officer applied net profit rate of 12.6 per cent. on the gross bill amounts received by the assessee in each of the two years under consideration and computed the total income for the two years. The assessee being aggrieved by the said order filed appeals before the Appellate Assistant Commissioner and co...
Commissioner of Income-tax Vs. Bhagwat Tewari
Court: Kolkata
Decided on: Dec-05-1974
Reported in: [1976]105ITR62(Cal)
Sabyasachi Mukharji, J. 1. This is a reference under Section 66(1) of the Indian Income-tax Act, 1922. This reference relates to the assessment year 1958-59, the relevant previous year of which ended on 31st May, 1958. The assessee is the managing director of S. B. Electric Mart Pvt. Ltd. in which he held at the relevant time 950 ordinary shares out of 2,000 ordinary shares of Rs. 100 each being issued and subscribed capita] of the company. In the balance-sheet as on 31st December, 1957, there was an entry indicating as follows :Figures for the previous yearLoan and AdvancesFigures for the current year.Advance to directorRs.Rs.Rs.Head Office 61,70214,556.1416,315.69 457 Branch 62,159 1,759.55 (The maximum due at any time during the year at head office is Rs. 1,50,000 and at branch Rs. 1,759.55).2. Out of the above figures the amount outstanding from the assessee was rupees 13,385. The Income-tax Officer considered the applicability of Section 2(6A)(e) of the Indian Income-tax Act, 1922...
Bhagwati Trading Company Ltd. Vs. Commissioner of Income-tax
Court: Kolkata
Decided on: Dec-04-1974
Reported in: [1977]109ITR353(Cal)
Sabyasachi Mukharji, J. 1. This reference under Section 256(1) of the Income-tax Act, 1961, relates to the assessment years 1958-59, 1961-62 and 1962-63. We are concerned here with the application of Section 23A of the Indian Income-tax Act, 1922, for the first two years and Section 104 of the Income-tax Act, 1961, for the last year. The question involved in this reference is whether the company can be deemed to be one in which the public were substantially interested within the meaning of the provisions of the aforesaid sections referred to hereinbefore. The relevant provisions of Section 23A of the Indian Income-tax Act, 1922, was Clause (b) of Explanation 1 of Section 23A which was as follows :'Explanation 1.--For the purposes of this section, a company shall be deemed to be a company in which the public are substantially interested--...... (b) if it is not a private company as defined in the Indian Companies Act, 1913 (VII of 1913), and...... (iii) the affairs of the company or the...
Rai Kumar Srimal Vs. Commissioner of Income-tax
Court: Kolkata
Decided on: Dec-03-1974
Reported in: [1976]102ITR525(Cal)
Sabyasachi Mukharji, J.1. In this reference under Section 256(1) of the Income-tax Act, 1961, we are concerned with the jurisdiction and exercise of the discretion by the Appellate Assistant Commissioner. In order to appreciate the questions referred to, this court it is necessary to refer to certain facts. The assessment relates to the assessment year 1961-62, the previous year being the financial year ending on March 31, 1961. For the said year the assesses had disclosed an income of Rs. 6,000 in his return, stating that such income was derived by him as a broker. But since no books of account had been maintained, the Income-tax Officer estimated the brokerage income at Rs. 8,000 on the basis of past records. The assessee, however, had opened an account with the Chartered Bank as far back as 1948 but from the bank's statements the Income-tax Officer could see that the account was not operated from the 1st November, 1956, to 31st May, 1960, and the balance in the account thereafter wa...
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