Kolkata Court August 1975 Judgments
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Parthasarathi Sinha and ors. Vs. Official Liquidator, Ballygunge Real ... Overruled
Court: Kolkata
Decided on: Aug-01-1975
Reported in: [1976]46CompCas555(Cal),79CWN972
Masud, J.1. The important point to be decided in this appeal is whether misfeasance proceeding in connection with a company in liquidation can lawfully proceed against the heirs and legal representatives of an alleged delinquent director after his death. The facts of the case may briefly be stated as follows :2. On January 8, 1958, Ballygunge Real Property and Building Society Ltd. was directed to be wound up under the Companies Act, 1956. On January 2, 1963, the official liquidator took out summons under Section 543(1) of the said Act against its directors including Dr. S. N. Sinha for a declaration that the said directors were guilty of misfeasance and breach of trust and also for an order directing them to repay or restore the money or property of the said company which they were alleged to have retained wrongfully. On November 16, 1969, Dr. Sinha died intestate leaving his son, Parthasarathi Sinha, and two married daughters, Smt. Maya Bose and Smt. Mira Mitra, as his heirs and lega...
Carew and Co. Ltd. Vs. Commissioner of Income-tax
Court: Kolkata
Decided on: Aug-01-1975
Reported in: [1976]104ITR471(Cal)
Dipak Kumar Sen, J.1. In this reference under Section 256(1) of the Income-tax Act, 1961, the only question referred to us is as follows :'Whether, on the facts and in the circumstances of the case, theTribunal was justified in upholding the disallowance of Rs. 3,32,158,Rs. 3,79,290 and Rs. 3,64,760 representing interest on bank overdraft anddebenture loan as allocated to the Pakistan branch by the assessee-companyin the assessments for the assessment years 1960-61, 1961-62 and 1962-63,respectively '.2. The assessment years involved as will appear from the question itself are 1960-61, 1961-62 and 1962-63, the relevant previous years each ending on the 30th June. The assessee, Carew & Co.'Ltd., is an Indian company and has its registered office in Calcutta. The assessee carries on the business of manufacturing and selling spirits, liquors, sugar, etc. The assessee has distillery and factories at Rosa and Asansol in the Union of India and also at Darsana, formerly in East Pakistan, now B...
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