Kolkata Court July 1975 Judgments
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Commissioner of Income-tax Vs. G.D. Kothari
Court: Kolkata
Decided on: Jul-23-1975
Reported in: [1977]110ITR691(Cal)
R.N. Pyne, J.1. This reference, at the instance of the revenue under Section 66(1) of the Indian Income-tax Act, 1922, relates to the assessment year 1958-59, the relevant previous year for which having ended on March 31, 1958. The facts mentioned in the statement of case prepared by the Tribunal are these. The assessee is a partner in two registered firms known as Kothari and Co. and Kothari Trading Co. In making the assessment on the assessee the Income-tax Officer took the following amounts as the share income from the said firms and allocated them as follows :Name of the firmShare of business loss under section 10Share of dividend income under section 12 Rs.Rs.Kothari & Co.5,31,38961,150Kothari Trading Co. 41,33031,9712. It may be noted that if the dividend was not taken separately, then the share income taken as a unit would have been a loss in each of these cases. By the share income being taken separately in respect of business loss and dividend income the assessee stood to lose...
Commissioner of Income-tax Vs. North Dhemo Coal Company Ltd.
Court: Kolkata
Decided on: Jul-23-1975
Reported in: [1977]106ITR592(Cal)
Dipak Kumar Sen, J. 1. In this reference under Section 66(1) of the Indian Income-tax Act, 1922, the following questions have been referred:'(1) Whether, on the facts and circumstances of this case, the assessee was entitled to full depreciation allowance under Section 10(2)(vi) of the Indian Income-tax Act, 1922, read with Rule 8 of the Rules thereto for the assessment years 1958-59 and 1959-60 ? (2) Whether, on the facts and in the circumstances of this case, the sum of Rs. 1.65,424 was properly treated as revenue expenditure and allowed accordingly ?' 2. On question No. 1, learned standing counsel appearing on behalf of the assessee did not seriously contest the position that in view of Rule 8 of the Indian Income-tax Rules, 1922, as construed by this court in the case of Anantapur Textiles Lid. v. Commissioner of Income-tax : [1976]102ITR340(Cal) , it could not be disputed that the assessee will not be entitled to full depreciation as claimed. In the premises, the first question is...
inspecting Asst Commissioner of Income-tax and ors. Vs. Somendra Kumar ...
Court: Kolkata
Decided on: Jul-23-1975
Reported in: (1977)ILLJ108Cal
Salil Kumar Datta, J.1. This is an appeal against the judgment and order of Sabyasachi Mukherjee, J., dated December, 3, 1970 whereby the rule obtained by the petitioner on his application under Article 226(1) of the Constitution was made absolute. The petitioner according to his case has been a lower division clerk in the Income-tax Office, District I (I) as a permanent employee without any blemish in his service career. By an order dated May 21, 1966 passed by the Inspecting Assistant Commissioner of Income-tax, Range XIII, Calcutta, the appellant No. 1 before us, the petitioner-respondent was placed under suspension as a disciplinary proceeding against him was contemplated and he was further directed not to leave the headquarters without obtaining previous permission of the appellant. The petitioner, thereafter was served with a memorandum dated July 25, 1966 issued by the said appellant proposing to hold an inquiry against him under Rule 14 of the Central Civil Services (Classifica...
Commissioner of Income-tax Vs. Clive Row Investment Holding Co. Ltd.
Court: Kolkata
Decided on: Jul-22-1975
Reported in: [1977]107ITR600(Cal)
Deb, J. 1. This reference, under Section 66(1) of the Indian Income-tax Act, 1922, relates to the assessment years 1955-56, 1956-57, 1960-61 and 1961-62. The assessee is an investment company. It was formed in 1946. Andrew Yule & Co. held the majority shares of the assessee and is acting as its secretaries. In 1946, the assessee purchased a large number of shares of Calcutta Discount Company Ltd., which held many shares of Andrew Yule & Co. On December 29, 1954, the assessee purchased shares of Andrew Yule & Co. of the value of Rs. 83,38,234 and in December, 1959, Andrew Yule & Co. also purchased all the shares of Calcutta Discount Company. 2. The Income-tax Officer has assessed the assessee on the surplus arising out of the sale of many shares in these assessment years and the appeals filed by the assessee have been dismissed by the Appellate Assistant Commissioner. 3. In the appeals filed by the assessee before the Appellate Tribunal it was submitted on its behalf that it was an inve...
Sushan Chandra Pal and ors. Vs. State of West Bengal and ors.
Court: Kolkata
Decided on: Jul-21-1975
Reported in: AIR1976Cal32
ORDERAmiya Kumar Mookerji, J.1. The petitioners are the members of the Mindnaipore District Bus Owners' Co-ordination Committee. They challenge a notification issued by the Public Works Department, Government of West Bengal dated 21st October, 1974 by which the tolls were levied with respect to seven bridges mentioned in the schedule to the said notification. A notice in vernacular has also been issued by respondents Nos. 2 and 3 stating that all machine driven vehicles driving from the Deshapran Sashmal Setu near Midnepore and Rasulpur Bridge near Contai were required to pay bridge toll according to the schedule rates with effect from 1st December, 1974. The said seven bridges differ widely in their size, circumference and engineering skill. The cost of construction of those bridges or repairs thereof also widely varies. The cost of construction or repairs of each bridge has not been stated in the said notification and consequently the rates of toll that have been levied, have no corr...
New Central Jute Mills Co. Ltd. Vs. T.N. Kaul and ors.
Court: Kolkata
Decided on: Jul-18-1975
Reported in: AIR1976Cal178
ORDERSabyasachi Mukharji, J. 1. The petitioner is a public limited company under the Companies Act, 1956. The petitioner owns two jute mills, i.e. Albion Jute Mills and Lothian Jute Mills at Budge Budge in West Bengal and a factory at Varanashi in Uttar Pradesh known as Sahu Chemicals and Fertilisers. Messrs. Sahu Jain Ltd., was at all material times the managing agents of the petitioner, On Monday, the 13th May, 1961, there was a search at the premises No. 11, Clive Row, Calcutta and the search continued on the 14th and 15th May, 1968 and certain documents and papers were seized. The propriety of the search and the validity of the seizure are the subject-matters of challenge in this application under Article 226 of the Constitution. The search was conducted by virtue of an authorisation issued by the respondent No. 1 Assistant Director, Enforcement Directorate, Ministry of Finance under Section 19-D of the Foreign Exchange Regulation Act, 1947. As a result of that search certain docum...
Braithwaite and Co. (India) Ltd. Vs. Commissioner of Income-tax
Court: Kolkata
Decided on: Jul-18-1975
Reported in: [1978]111ITR825(Cal)
Sen, J. 1. This reference arises out of the assessment of M/s. Braith-waite & Co. (India) Ltd., a public limited company, within the meaning of the Companies Act, 1956, for the assessment year 1965-66. The facts found as appearing from the statement of the case and the annexures thereto are as follows :On the 2nd May, 1964, the Companies (Profits) Surtax Act, 1964, received the assent of the President and came into force while the corresponding earlier Act, namely, the Super Profits Tax Act, 1963, ceased to be in operation. On the 15th May, 1964, the recommendations of the directors for the ensuing annual general meeting of the assessee was finalised. The statement of the chairman of the assessee to the members was recorded as follows: 'The profit for the year after providing Rs. 14,19,333 for depreciation and transferring Rs. 7,03,186 to development rebate reserve, amounted to Rs. 1,24,47,705 which shows an increase of approximately Rs. 18 lakhs over the previous year. This result is ...
Dabros Industrial Co. (P.) Ltd. Vs. Commissioner of Income-tax
Court: Kolkata
Decided on: Jul-18-1975
Reported in: [1977]108ITR424(Cal)
Dipak Kumae Sen, J. 1. The facts found in this reference tinder Section 256(2) of the Income-tax Act, 19.61, are briefly stated as follows :A business of manufacture of sprayers and dusters for plant protection was being carried on till 1st May, 1965, by a firm of seven partners. On the 1st May, 1965, Dabros Industrial Company (P.) Ltd., the assessee, was incorporated and took over the business from the firm. The seven partners of the firm became directors of the company.2. In the assessment year in question, i.e., 1966-67, the previous year ending on the 31st December, 1965, the assessee on the basis of a total turnover of Rs. 3,25,756 disclosed a gross profit of Rs. 49,290 calculated at the rate of about 15%. The Income-tax Officer found that the assessee did not maintain any day to day stock book, manufacturing accounts, raw material consumption accounts or production accounts. In the absence of the aforesaid, he held that it was not possible to arrive at the correct profits on the ...
Sumitra Debi Gour Vs. Calcutta Dyeing and Bleaching Works
Court: Kolkata
Decided on: Jul-17-1975
Reported in: AIR1976Cal99
ORDER1. This suit has taken quite a long time. The argument was concluded at 4 p. m. yesterday the 16th instant on the 20th day of its hearing.2. The suit was filed by one Sumitra Debi GOUR against the defendant, Calcutta Dyeing and Bleaching Works, a firm belonging to, as has been stated several times, Agarwala group of business concerns carrying on its business at P.38. India Exchange Place, Calcutta-1. The plaintiff Sumitra Debi GOUR is the wife of one Madan Mohan GOUR who until 12th November, 1970, was associated with this Agarwala group of business. In fact prior to his resignation or withdrawal from service from this Agarwala group of business Mr. Madan Mohan Gour, the husband of the plaintiff, was the Managing Director of Indo-Dan Milk Products Co. Ltd. belonging to the said Agarwala Group.3. Shortly, the plaintiff's case is that she lent and advanced diverse sums of money to the defendant company a firm, and at the time of the filing of the suit or immediately prior thereto aft...
Commissioner of Income-tax (Central) Vs. Assam Oil Company Ltd.
Court: Kolkata
Decided on: Jul-17-1975
Reported in: [1977]107ITR261(Cal)
Dipak Kumar Sen, J.1. This reference arises out of the assessment of Assam Oil Company Ltd., Digboi, Assam, in respect of the assessment year 1962-63, the corresponding previous year being the calendar year 1961. The facts found as appearing from the statement of the case and the annexures thereto can be briefly narrated as follows : 2. The assessee carries on the business of sale of petroleum and oil products produced by refining of crude oil, obtained, inter alia, by mining. Under a lease known as Digboi Mining Lease Nos. 1 and 2 executed by the then Province of Assam in favour of the assessee on the 6th September, 1943, the assessee obtained a lease of the mines, beds, veins and seams of natural petroleum including natural gas situated in or under four square miles of land, particularly described in the deed of lease for a period of 25 years commencing from the 1st January, 1942. This lease was in renewal of similar earlier leases starting from the 26th November, 1892. Therelevant p...
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