Kolkata Court November 1977 Judgments
Khimji Keshavji Trust Estate Vs. Commissioner of Income-tax
Court: Kolkata
Decided on: Nov-30-1977
Reported in: [1978]113ITR751(Cal)
Sen, J.1. At the instance of the Commissioner of Income-tax, West Bengal-I, Calcutta, (sic) the Tribunal in this case has referred the following question to this court under Section 256(1) of the Income-tax Act, 1961 :'Whether, on the facts and in the circumstances of the case and on a proper construction of the deed of trust dated 3rd January, 1942, the Tribunal was correct in holding that the individual shares of the beneficiaries were indeterminate or unknown and hence the provisions of Section 164 of the Income-tax Act, 1961, were attracted to the entire income of the trust ?'2. The facts found and/or admitted in these proceedings are as follows :3. The assessee is Khimji Keshavji Trust Estate, Calcutta. The assessment years involved are 1965-66 and 1966-67, the relevant previous years being 2020 and 2021 Gujrati Dewali years.4. By an indenture dated 3rd January, 1942, one Khimji Keshavji transferred certain properties to a trust, inter alia, for the benefit of his relations. By th...
Tag this Judgment!Katihar Jute Mills (P.) Ltd. Vs. Commissioner of Income-tax (Central A ...
Court: Kolkata
Decided on: Nov-29-1977
Reported in: [1979]120ITR861(Cal)
C.K. Baneeji, J. 1. This reference under Section 66(1) of the Indian I.T. Act, 1922 (hereinafter referred to as 'the Act') is at the instance of the assessee, Katihar Jute Mills (P.) Ltd., Howrah. The relevant assessment year is 1955-56 for which the relevant accounting year is the calandar year 1954. The facts found by and/or admitted before the Tribunal areas follows :The assessee is a limited company owning a jute mill. The original assessment under Section 23(3) of the Act was made on the 27th January, 1960. In the said assessment a sum of Rs. 5,22,450 was brought to tax representing the price of loom hours.2. The assessee preferred an appeal before the AAC with regard to two points, namely, (1) treatment of the loss in speculative transactions, and (2) certain disallowances out of expenses. The AAC disposed of the appeal in the following terms :' Before the Income-tax Officer the contract papers were not produced. These are now produced. I have examined the account books also. I f...
Tag this Judgment!Commissioner of Income-tax Vs. National Properties Ltd.
Court: Kolkata
Decided on: Nov-29-1977
Reported in: [1978]113ITR793(Cal)
Sen, J.1. The facts found and/or admitted in this reference under Section 66(1) of the Indian. Income-tax Act, 1922, at the instance of the Commissioner of Income-tax, West Bengal I, Calcutta, are as follows :Messrs. National Properties Ltd., Calcutta, the assessee, is a limited company incorporated in 1937. The assessment year involved is 1960-61, the relevant previous year being the year ended on the 30th June, 1959.2. On the 14th August, 1946, the assessee purchased 5/9ths share of an undivided garden house on the Ultadanga Main Road, Calcutta, with trees and tanks covering a total area of 30 bighas of land. Thereafter, in a partition suit filed by the assessee against the other co-owners, partition was effected under a decree passed by the 6th Subordinate Judge, 24-Parganas, and exact demarcation of the share allotted to the assessee was made. The assessee obtained about 17 bighas of land situated at 83, 84 and 86/2, Ultadanga Main Road, Calcutta. The cost of the property was Rs. 1...
Tag this Judgment!Sushil Krishna Roy Vs. Narayan Ch. Mukherji
Court: Kolkata
Decided on: Nov-28-1977
Reported in: AIR1978Cal174
N.C. Mukherji, J. 1. Both these appeals arise out of the judgment and decree passed by Shri T. B. Ganguly, Additional District Judge, 1st Court at Alipore in Title Appeal No. 860 of 1970 dated 19-2-71, modifying those of Shri B. K. Datta, Munsif, 1st Court, Alipore in Title Suit No. 86 of 1970 dated 10-6-70. S. A. 1135 of 1971 has been filed by the defendant, while as S. A. 304 of 1973 has been filed by the plaintiff against the order of the learned Additional District Judge by which the suit was sent back to the learned Munsif for ascertaining if the plaintiffs requirement can be satisfied by a portion of the suit premises.2. The facts of the case may, briefly, be stated as follows:--The defendant was a monthly tenant in the suit premises at a monthly rent of Rs. 92.04 payable according to English calendar. The plaintiff reasonably required the suit premises for his own use and occupation. The defendant contested the suit on the ground that the notice was bad as the same was in respec...
Tag this Judgment!Commissioner of Income-tax Vs. Braithwaite, Burn and Jessop Constructi ...
Court: Kolkata
Decided on: Nov-24-1977
Reported in: [1978]113ITR577(Cal)
Dipak Kumar Sen, J. 1. This reference under Section 256(1) of the Income-tax Act, 1961, is at the instance of the Commissioner of Income-tax, West Bengal-I, Calcutta. The assessment year involved is 1963-64, the relevant previous year being the one ended on 30th September, 1962. 2. In the said assessment year, the Braithwaite, Burn &. Jessop Construction Co. Ltd., Calcutta, the assessee, provided for the following item under the heading 'reserve and surplus' in its balance-sheet as at the 30th September, 1962. Rs.Reserve for taxation---As per last balance-sheet15,48,450Less Surplus due to decrease of anticipated profits oncontracts-in-progress written back4,22,8503. In the same balance-sheet under the heading ' Provision ', there was an item as follows : Rs.Provision for taxation35,44,546Less :Advance payments21,94,3314. In the assessment for super profits tax the assessee contended that the said sum of Rs. 15,48,500 under the heading 'Reserve for taxation' was a reserve and ought to b...
Tag this Judgment!Commissioner of Income-tax Vs. New India Investment Corporation Ltd.
Court: Kolkata
Decided on: Nov-24-1977
Reported in: [1978]111ITR948(Cal)
Dipak Kumar Sen, J.1. In this reference under Section 256(2) of the Income-tax Act, 1961, at the instance of the Commissioner of Income-tax, West Bengal-II, Calcutta, the question for determination is as follows :'Whether, on the facts and in the circumstances of the case, theTribunal was right in holding that the Income-tax Officer was not justifiedin apportioning the total expenditure incurred by the assessee as betweenthe several heads of income and treating the appropriate portion thereof asexpenditure against the dividend income ?'2. The assessee is New India Investment Corporation Ltd. and the assessment years involved are 1963-64, 1964-65 and 1965-66. The facts found and/or admitted are as follows :The assessee, an investment company, deals in shares and derives income from business, interest on securities, dividend and other receipts.3. For the assessment years in question the assessee claimed expenditure respectively of Rs. 79,560, Rs. 89,125 and Rs. 63,308. The Income-tax Off...
Tag this Judgment!J.C. Chakravarti Vs. Union of India (Uoi) and ors.
Court: Kolkata
Decided on: Nov-24-1977
Reported in: (1978)IILLJ139Cal
S.K. Dutta, J.1. The petitioner was appointed as an Assistant Manager, Calcutta in the Sterling General Insurance Co. Ltd. (hereinafter also referred to as the Sterling) by a letter dated March 17, 1971 with effect from April 1, 1971, by way of ' contractual appointment', for a period of 3 years ending on the 31st March, 1974. The letter of appointment provided that on the expiry of the contract period, i.e.,. March 31, 1974 the petitioner's service would stand automatically terminated unless renewed by mutual agreement on terms as would be agreed upon. It was further provided that either party would be entitled to terminate the employment by a month's notice in writing or on payment of month's salary in lieu thereof. The employer reserved his right to terminate the service without notice at any time on ground of misconduct, gross negligence, absence from duty without permission, breach of discipline, etc.2. While the petitioner was working in the company on the basis of the said contr...
Tag this Judgment!Commissioner of Income-tax (Central) Vs. Turner Morrison and Co. Ltd.
Court: Kolkata
Decided on: Nov-23-1977
Reported in: [1978]114ITR629(Cal)
Sen, J.1. In this reference under Section 256(1) of the Income-tax Act, 1961, at the instance of the Commissioner of Income-tax (Central), Calcutta, Messrs. Turner Morrison & Co. Private Ltd., of 6, Lyons Range, Calcutta-1, the assessee, was assessed to income-tax for the assessment year 1962-63. The relevant previous year corresponding to the said assessment year 1962-63 is the calendar year, 1961. The Income-tax Officer in. making the assessment disallowed a sum of Rs. 1,75,000 out of the sum of Rs. 3,91,150 claimed by the assessee as having been paid as directors' remuneration. The Income-tax Officer held that such payment to the extent of the said sum of Rs. 1,75,000 was excessive and unreasonable. 2. Further, the assessee had paid a sum of Rs. 6,826 as contribution to a provident fund in East Pakistan where the assessee carried on business during the said assessment year. This provident fund was recognised by the Pakistan authorities but not by the Indian revenue authorities. The ...
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