Kolkata Court December 1978 Judgments
Blue Star Engineering Co. (Pvt.) Ltd. Vs. Commissioner of Income-tax
Court: Kolkata
Decided on: Dec-21-1978
Reported in: [1980]122ITR156(Cal)
Dipak Kumar Sen, J.1. The facts and/or admitted in these proceedings may shortly be stated as follows : M/s. Blue Star Engineering Co. (Pvt.) Ltd., the assessee, is a company in which the public are not substantially interested. In the relevant assessment year 1968-69, the previous year ending on the 31st December, 1967, it was assessed to income-tax. The assessment was completed on the 24th December, 1968, under Section 143(3) of the I.T. Act, 1961. The distributable income of the assessee for the purposes of Section 104 was determined to be Rs. 1,81,269. The dividend required to be distributed was 60% of the said amount, being Rs. 1,08,762. It was found that the assessee declared dividend of only Rs. 1,03,717 on the 9th May, 1968. As the shortfall was below 10% of the distributable surplus the ITO issued a notice dated the 8th December, 1972, under Section 105 of the I.T. Act, 1961, calling upon the assessee to declare a further dividend as required under the statute. 2. The assessee...
Tag this Judgment!Commissioner of Income-tax Vs. Calcutta Hydraulic Press Association
Court: Kolkata
Decided on: Dec-21-1978
Reported in: [1980]121ITR414(Cal)
Dipak Kumar Sen, J.1. Calcutta Hydraulic Press Association, the assessee, was registered under the Indian Trade Unions Act, 1926, in or about April, 1952. The objects of the assessee as appearing in its rules and regulations are, inter alia, as follows :'The object of the association is to regulate relations between the members and their employees and between member and members and additionally the objects of the association are to include the following: (b) to impose restrictive conditions on the conduct of the trade; (c) to adjust and/or control the production and working of the jute press houses in the membership of the association ; (d) to secure by agreement advantageous terms from balers in relation to baling in jute press houses; (e) to protect the members of the association against competition; (f) to secure the enactment of legislation beneficial to the trade ; (g) to secure the repeal of any legislation or prevent the passing of legislation which is damaging or may in any way...
Tag this Judgment!Bengal Paper Mill Company Ltd. Vs. Superintendent of Central Excise an ...
Court: Kolkata
Decided on: Dec-20-1978
Reported in: 1985(20)ELT302(Cal)
Sabyasachi Mukherji, J.1. The subject matters of challenge in this application under Article 226 of the Constitution are 7 notices issued under the Central Excise Rules, 1944. The particulars of the said notices have been set out in Annexure F at page 61 of the petition. Of these notices the first three notices dated 29th of, January, 1973, cover periods from 1-7-1970 to 30-11-1971 1-10-1966 to 30 6-1970 and 1-12-1971 to 31-1-1972, respectively. The other notices impugned are also notices all dated 29th of January 1973 These cover periods from 27-7-1970 to 31-1-1972, 1-2-1972 to 31-8-1972 and September 1972 to December 1972, respectively. These notices were issued under Rule 10A of the Central Excise Rules, 1944 as it stood at the relevant time. The last notice mentioned above dated 29-1-1973 covering the period from September 1972 to December 1972 was issued on the alleged ground that overweight was found by inspection group by the inspection report No. 26/70 of 19-11-1970. As the las...
Tag this Judgment!Commissioner of Income-tax Vs. Kanaiyalal Nimani and ors.
Court: Kolkata
Decided on: Dec-18-1978
Reported in: [1979]120ITR892(Cal)
Sudhindra Mohan Guha, J.1. This reference under Section 256(2) of the I.T. Act, 1961, at the instance of the revenue relates to the assessment year 1962-63, the relevant accounting year being 2018 R.N.2. The assessee is a lessee of premises No. 1, Strand Road, Howrah, measuring 7 bighas of land with a building thereon for 50 years, under a registered deed of lease dated March 8, 1939. The assessee erected many stalls in the demised premises and set up a market therein commonly known as ' Maagla Hat '.3. The assessee claimed before the ITO that the income derived from these stalls should be assessed under Sections 22 to 27 of the I.T. Act, 1961, but the ITO rejected the contention and assessed the income under the head ' Other sources '.4. On appeal by the assessee, the AAC confirmed the order of assessment subject to certain modifications. The assessee preferred a further appeal to the Tribunal. The Tribunal found that these stalls were not either ramshackle in nature or temporary shed...
Tag this Judgment!Sutlej Cotton Mills Ltd. Vs. Commissioner of Income-tax
Court: Kolkata
Decided on: Dec-18-1978
Reported in: [1979]119ITR666(Cal)
Dipak Kumar Sen, J.1. The dispute in the reference arises out of computation of capital gains on the sale of 20,000 shares of Gwalior Rayon & Silk Mfg. Co. Ltd., by Sutlej Cotton Mills Ltd., the assessee, in the assessment year 1970-71, the relevant previous year having ended on the 31st March, 1970.2. The facts found and/or admitted are as follows I The assessee acquired the said shares in the year 1955 at a price of Rs. 10 per share. Subsequently, the assessee received 20,000 bonus shares in respect of the said original shares. The assessee sold 20,000 of the said original shares during the relevant period. The ITO computed the capital gains accruing in the hands of the assessee by working out the cost of acquisition of the original shares by spreading out the initial cost between the original shares as also the bonus shares.3. On an appeal preferred by the assessee, the AAC upheld the order of the ITO.4. There was a further appeal by the assessee to the Income-tax Appellate Tribunal...
Tag this Judgment!Malchand Thirani and Sons Vs. Commissioner of Income-tax
Court: Kolkata
Decided on: Dec-15-1978
Reported in: [1980]121ITR976(Cal)
Deb, J.1. The question in this reference under Section 256(1) of the I.T. Act, 1961, reads as follows :' Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the share of income from property at Nohar in Rajasthan, share of income from Thirani building, Darjeeling, and share of income from the firm, M/s. Maheswari & Co., could be included in the assessment of the assessee in the status of the HUF '2. Prior to the partition hereinafter stated, the properties at Nohar and the Thirani building (hereinafter referred to as the ' house properties ') mentioned in the question were the Mitakshara coparcenary properties of the assessee, Malchand Thirani, his two brothers and his father, Iswardas Thirani, since deceased.3. Iswardas had a separate property, namely, a share in the firm, M/s. Maheswari & Co., in which he was a partner. He was assessed as an individual in respect of his share of income from this firm during his lifetime. Iswardas, his wi...
Tag this Judgment!Commissioner of Income-tax and Surtax Vs. Standard Pharmaceuticals Ltd ...
Court: Kolkata
Decided on: Dec-14-1978
Reported in: [1979]119ITR101(Cal)
Dipak Kumar Sen, J. 1. This reference arises out of the assessment of Standard Pharmaceuticals Ltd., Calcutta, the assessee, to surtax under the C. (P.) S.T. Act, 1964, in the assessment year 1964-65, the previous year relevant whereto ended on the 31st March, 1964. The item in dispute is an amount of Rs. 2,97,277. The assessee claimed this fund to be a dividend reserve and submitted that it should be included in the computation of the capital of the assessee under Rule 1(iii) of the Second Schedule to the said Act. The ITO held that this amount represented only a surplus in the profit and loss account and was not a reserve within the meaning of the said Act.2. Being aggrieved, the assessee preferred an appeal. The AAC rejected the contentions of the assessee on the ground that the said amount did not represent any reserve but was only a provision for the anticipated liabilities in connection with the declaration of dividends.3. The assessee appealed further to the Income-tax Appellate...
Tag this Judgment!Commissioner of Income-tax (Central) Vs. Christian Mica Industries Ltd ...
Court: Kolkata
Decided on: Dec-13-1978
Reported in: [1979]120ITR627(Cal)
Deb, J.1. This is a reference under Section 66(1) of the Indian I.T. Act, 1922. The Tribunal has referred the following question to this court:' Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the order of the Commissioner of Income-tax made under Section 33B(1) of the Indian Income-tax Act, 1922, was bad in law in so far as it directed the Income-tax Officer to pass a fresh order under Section 23A(1) of the Indian Income-tax Act, 1922 '2. The statement of the case relates to the assessment years 1955-56 and 1956-57 for which the relevant accounting years are the previous years ending 31st December, 1955, and 31st December, 1956, respectively. The assessee is a company to which Section 23A(1) of the Indian I.T. Act, 1922, applies. In view of the interim dividends declared by the assessee on February 19, 1956, and December 14, 1956, for the assessment years 1955-56 and 1956-57, respectively, the ITO dropped the proceedings under this se...
Tag this Judgment!Commissioner of Income-tax, Central Vs. Mrs. Leela Nath
Court: Kolkata
Decided on: Dec-12-1978
Reported in: [1980]121ITR965(Cal)
Dipak Kumar Sen, J.1. The facts found and/or admitted in these proceedings are, inter alia, as follows : Mrs. Leela Nath, the assessee, sold 1,100 fully paid-up shares and 294 partly paid-up shares of E. M. C. Ltd. on the 25th July, 1962, at their face value in the assessment year 1963-64, the previous accounting year ending on the 31st March, 1963, to another company named Electrical Machines Corporation (P.) Ltd. During the assessment, the ITO found that the purchaser-company was connected with the assessee. The majority of the shares in the purchaser-company were owned by the assessee, her husband, her children or other close relatives, the said company being thus controlled by the assessee and her family. The ITO further found that the market value of the shares sold was more than their face value on the basis of their break-up value as also on the basis of their yield or return inasmuch as there were huge accumulations of reserves and that dividend had been declared at the rate of...
Tag this Judgment!Sanat Kumar Burman Vs. Collector, Burdwan and ors.
Court: Kolkata
Decided on: Dec-07-1978
Reported in: AIR1979Cal139,83CWN514
ORDERSalil Kumat Datta, J.1. These Rules are for the issue of a Writ of Mandamus commanding the respondents, the Collector of Burdwan and others not to compel the petitioner to take licence for making bricks in the land or to create any disturbance in the running of his brick field thereon and also not to realise the licence fee or cess from him. There is further prayer for quashing the orders contained In Annexures 'B', 'C' and 'D' to the petition.2. The facts in brief are as follows. The petitioner claims to be the owner of a brick field in mouza Kandorsona, P.S. Burdwan situated in plots Nos. 567, 568, 573, 574 and 1119. The petitioner claimed to be a lessee from his lessor who is a raiyat under the State. The petitioner had been carrying on the business of brick manufacturing in the aforesaid lands since 1973. The Junior Land Reforms Officer, Burdwan in March 1973 treated the business as being carried on without permission of the Collector on the basis of the provisions under Secti...
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