Kolkata Court December 1976 Judgments
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B.C. Nawn and Bros P. Ltd. Vs. Commissioner of Income-tax
Court: Kolkata
Decided on: Dec-08-1976
Reported in: [1977]109ITR632(Cal)
Sankar Prasad Mitra, C.J.1. This is a reference under Section 256(1) of the Income-tax Act, 1961. For the assessment year 1963-64, the assessee filed a return on 15th December, 1964, showing the total income of Rs. 29,937. The return was due under Section 139 on 24th October, 1963.2. On September 25, 1967, the Income-tax Officer made the assessment and computed the total income at Rs. 2,60,720. On the 19th September, 1969, the Commissioner of Income-tax passed an order under Section 263 of the Act of 1961 and directed the Income-tax Officer to levy interest under the proviso to Section 139(1) which he had omitted to do at the time of making the assessment. The Income-tax Officer in accordance with the Commissioner's direction levied the interest of Rs. 6,046.3. An appeal was preferred on the 15th December, 1969, to the Appellate Assistant Commissioner. On behalf of the assessee it was 'urged before the Appellate Assistant Commissioner that interest under Section 139(1) was not levied a...
Commissioner of Wealth-tax Vs. Smt. Chandrakala Lal
Court: Kolkata
Decided on: Dec-07-1976
Reported in: [1978]111ITR185(Cal)
Deb, J.1. The following question is involved in this reference under Section 27(1) of the Wealth-tax Act, 1957 ;'Whether, on the facts and in the circumstances of the case, the conclusion of the Tribunal that the break-up value of the shares of Messrs. Lal Holdings (P.) Ltd. should be determined on the basis of its balance-sheet figures was in accordance with law ?'2. The reference relates to the wealth-tax assessment years 1963-64 and1964-65, for which the respective valuation dates are March 31, 1963, andMarch 31, 1964. The assessee held certain shares in two private limitedcompanies, namely, M/s. S. Lal & Co. (P.) Ltd. and M/s. Lal Holdings (P.)Ltd. Messrs. Lal Holdings (P.) Ltd. held certain shares in Messrs. S. Lal &Co.; (P.) Ltd. The shares held by the assessee in these two companies werevalued by the Wealth-tax Officer by adopting the break-up method ofvaluation of assets and not on the basis of book value of those shares. Theappellate authorities had set aside the said valuatio...
Taramoni Dasi Vs. Kalidasi Majhi and ors.
Court: Kolkata
Decided on: Dec-03-1976
Reported in: AIR1977Cal43,81CWN661
N.C. Mukherji, J.1. This Rule was issued on an application under Section 115 of the Code of Civil Procedure and is directed against Order No. 18 dated 25th May, 1974 passed by Sri A. N. Mitra, Additional District Judge, 4th Court, Alipore, in Title Appeal No. 530 of 1973. By the above order the learned Additional District Judge held that the appeal was maintainable in his court and directed the appellant to pay the deficit court-fees. Being aggrieved, the appellant has come up before us.2. The facts of the case may briefly be stated as follows :--The opposite parties 2 to 4 brought a suit. The plaint case is that the suit property comprising 13 decimals of land with pucca building thereon belonged to Ambika Charan Pramanik, now deceased, the husband of the defendant No. 1 and Gurupada Pramanik in equal shares. Ambika died leaving behind the defendant No. 1 as his widow who inherited 8 annas share and continued to possess the same in ejmali with Gurupada Pramanik who owned the remaining...
Commissioner of Income-tax Vs. Guest Keen and Nettlefold Ltd.
Court: Kolkata
Decided on: Dec-03-1976
Reported in: [1978]115ITR205(Cal)
Sankar Prasad Mitra, C.J. 1. This is a reference under Section 256(1) of the Income-tax Act, 1961. The assessee is a sterling company. It has been assessed to income-tax as a non-resident. The assessment relates to the assessment years 1961-62 and 1962-63.2. The assessee had a controlling interest in M/s. Guest Keen Williams Ltd. of India. It had 14,10,600 ordinary shares of Rs. 10 each in the Indian company. The issued capital of the Indian company was divided into 20 lakhs ordinary shares of Rs. 10 each.3. The Indian company on May 13, 1960, applied for rights issues of capital at the rate of one share for each share held already by a shareholder.4. The assessee held certain shares in a company called Sankey Electrical Stamping Private Ltd. and wanted to transfer these shares to the Indian company. The Government of India gave approval to the transfer at a price of Rs. 165 per share.5. The Indian company was permitted to make the rights issue at Rs. 28.50 as against the face value of...
In Re: Janak Ltd. (In Liquidation)
Court: Kolkata
Decided on: Dec-03-1976
Reported in: [1978]112ITR320(Cal)
Salil Kumar Roy Chowdhury, J. 1. In this matter before me, the only question for consideration is whether the tax dues of the Government of India claiming arrears of income-tax which has been assessed, demand raised and certificate issued, against the company cannot be disputed any longer in any way whatsoever, would have priority over other ordinary creditors of the company. Previously, the matter came up for direction and as to the assessment by the income-tax department in respect of certain years and payment of their dues out of the fund in the hands of the official liquidator; being Mr. S. Acharyya. In this particular case, from time to time, I also made certain orders relying on the relevant decision of the Supreme Court as to the authority of the liquidator vis-a-vis the courtto go into the question of assessment of tax liabilities, but now the only point which has been raised and required for consideration and decision by me is whether between the ordinary creditors of the comp...
income-tax Officer, 'i' Ward and Ors. Vs. B.N. Bhattacharya
Court: Kolkata
Decided on: Dec-03-1976
Reported in: 81CWN351,[1978]112ITR423(Cal)
Sabyasachi Mukharji, J.1. The subject-matters of challenge in the writ application out of which this appeal arises were the notices under Section 34(1)(a) of the Indian Income-tax Act, 1922, for the assessment years 1940-41 to 1950-51, 1952-53 and 1953-54.2. It is the case of the revenue that the petitioner-respondent was assessed to income-tax for the assessment year 1939-40 on the basis of the return filed by him. For the assessment years 1941-42 to 1943-44, the respondent did not file any return and the assessments for the said years were made at nil under Section 23(4) of the Indian Income-tax Act, 1922. For the assessment year 1944-45 and subsequent years up to 1948-49, no action had been taken for the respondent's assessment under the Act. For the assessment year 1949-50, the respondent's assessment file was closed on the basis of the report submitted by an inspector of income-tax regarding the financial position of the respondent and, thereafter, no further action was taken for ...
Sm. Safura Bibi Vs. Ram Prasad Saw and ors.
Court: Kolkata
Decided on: Dec-01-1976
Reported in: AIR1977Cal207,(1977)1CompLJ55(Cal),81CWN446
Salil Kumar Datta, J.1. This Rule was obtained against Order No. 170 dated 9th July, 1975 in a Partition Suit whereby the application of the plaintiff was allowed. The effect of the order is that the defendant No. 2's application under Section 4 of the Partition Act which was earlier allowed stood disallowed in view of some subsequent events. The facts, in short, are as follows:--On 5th March, 1953 the Partition Suit was filed by the plaintiff who, admittedly, acquired a share of the dwelling house of the defendants. In course of the proceedings, the defendant No. 2 filed an application on 30-4-1957 under Section 4 of the Partition Act, 1893 for purchase of the share of the plaintiff who was, admittedly, a stranger purchaser. This application was allowed on 17-5-1957 when the preliminary decree was also passed. The preliminary decree contained direction on the Commissioner to make a valuation of the plaintiff's share which was determined at two annas six gondas two karas and two kranti...
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