Kolkata Court August 1978 Judgments
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Vishnu Agencies (P.) Ltd. Vs. Commissioner of Income-tax
Court: Kolkata
Decided on: Aug-28-1978
Reported in: [1979]117ITR754(Cal)
Dipak Kumar Sen, J.1. This reference under the I.T. Act, 1961, arises from the assessment of Messrs, Vishnu Agencies (P.) Ltd., the assessee, in the assessment years 1963-64, 1964-65 and 1965-66, the relevant previous years having ended on the 31st January of the years 1963, 1964 and 1965, respectively.2. During the relevant years, the assessee had engaged or employed a number of persons under different agreements in writing as follows :1. Agreement dated the 2nd February, 1959. This agreement was entered into by and between the assessee and one Mangilal Sethia whereby the assessee engaged the latter as its sole selling agent in respect of spun R.C.C. pipes and collars manufactured by the assessee on the following terms and conditions : (a) The agency would be effective on and from the 1st February, 1959. (b) The sole selling agent would deposit a sum of Rs. 10,000 to be held by the assessee without interest during the subsistence of the agreement. (c) The sole selling agent would not ...
Kedak Nath Goenka and ors. Vs. Superintendent of Central Excise and or ...
Court: Kolkata
Decided on: Aug-28-1978
Reported in: 1978(2)ELT538(Cal)
P.C. Borooah, J. 1. The five petitioners and the opposite party No. 3 are Directors of Messrs Premier Irrigation Equipment (Private) Limited having its registered office at 17/1C, Alipore Road, Calcutta-27 and its factory at Boral in the District of 24 Parganas. The company is licensed under the Central Excise Rules to manufacture aluminium tubes from aluminium strips.2. On March 10, 1978 the Superintendent of Central Excise, Centralised Preventive Organisation, Calcutta, filed a petition of complaint in the court of the Chief Judicial Magistrate, Alipore, 24 Parganas, against the petitioners and the opposite party no. 3 alleging inter alia, that on November 10, 1974 when officers of the Centralised Preventive Organisat on visited the factory of the company at Boral and verified the stock of aluminium pipes lying in the approved store-room, he detected a shortage of 30,688.5 metres of pipes of different sizes valued at Rs. 10,78,498.57 p. and involving Central Excise duty of Rs. 4,31,3...
Orient Trading Co. Ltd. Vs. Commissioner of Income-tax
Court: Kolkata
Decided on: Aug-25-1978
Reported in: [1981]131ITR477(Cal)
Deb, J.1. The questions involved in this reference under Section 256(2) of the I.T. Act, 1961, are as follows :' 1. Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the cost price of 55,100 shares should be taken at Rs. 5,51,000 and not at Rs. 1,45,000 ? 2. Whether the Tribunal was right in holding that on the facts and in the circumstances of the case, the exchange of one security for another could be described as realisation of the security resulting in profit ' 2. The statement of the case relates to the assessment year 1963-64, for which the relevant previous year ended on July 31, 1962.3. The assessee is a company. The assessee held 14,500 shares of Asiatic Oxygen & Acetylene Co. Ltd. of the face value of Rs. 10 each as its stock-in-trade. The assessee is a dealer in shares. The aforesaid shares were valued by the assessee at Rs. 1,45,000, i. e., at the cost price at the end of the assessment year 1962-63, and were included in the ...
Hindustan Gas and Industries Ltd. Vs. Commissioner of Income-tax
Court: Kolkata
Decided on: Aug-25-1978
Reported in: [1979]117ITR549(Cal)
Dipak Kumar Sen, J. 1. Hindusthan Gas & Industries Ltd., the assessee, incurred expenditure of Rs. 10,080 and Rs. 50,687, respectively, for payment of professional charges to its solicitors, Messrs. Orr, Dignam & Co., for preparing a prospectus in connection with the issue of its preference shares and payment of underwriting commission and brokerage for the issue of the same, in the assessment year 1964-65, the corresponding previous year having ended on the 31st March, 1964. In its assessment to income-tax the assessee claimed deduction of the said expenditure from its business income. The ITO disallowed the claim on the ground that the said items were not expenditure of a revenue nature. On appeal, the AAC confirmed the order of the ITO. There was a further appeal by the assessee to the Tribunal. It was contended on behalf of the assessee before the Tribunal, inter alia, that the said amounts of expenditure should be treated as revenue expenditure. It was further contended that the s...
Commissioner of Income-tax (Central) Vs. New Central Jute Mills Co. Lt ...
Court: Kolkata
Decided on: Aug-25-1978
Reported in: [1979]118ITR1005(Cal)
Sen, J.1. This reference arises out of the income-tax assessment of New Central Jute Mills Co. Ltd., the assessee, in the assessment year 1958-59, the relevant previous year being the one ended on the 31st March, 1958. On an application of the Commissioner of Income-tax (Central), Calcutta,under Section 66(1) of the Indian I.T. Act, 1922, the Tribunal has referred for the opinion of this court the following questions as questions of law arising out of its order :'1. Whether, on the facts and in the circumstances of the case, the sum of Rs. 1,46,875 spent on the purchase of loom hours was an allowable revenue expenditure under the Indian Income-tax Act, 1922 ? 2. Whether, on the facts and in the circumstances of the case, the sum of Rs. 7,79,117 (sic) paid to the U.P. Government as interest on moneys borrowed from it was allowable as a deduction against the interest income of Rs. 1,75,471 earned from the Central Bank of India Ltd. ' 2. The first question appears to be covered by a decis...
Debendra Ch. Das Vs. Commercial Tax Officer and ors.
Court: Kolkata
Decided on: Aug-25-1978
Reported in: [1978]42STC458(Cal)
C.K. Banerji, J.1. The petitioner carries on business in clothes under the name and style of M/s. Kalpana Dress House as the sole proprietor thereof in Alipurduar in the district of Jalpaiguri. The petitioner alleges that he is neither liable to pay sales tax under the Bengal Finance (Sales Tax) Act, 1941, as his turnover never exceeded nor exceeds Rs. 50,000 nor he is an importer of goods from one State to another so as to be liable under the Central Sales Tax Act. On 19th January, 1973, N. D. Sharma, the Commercial Tax Officer, Coochbehar, respondent No. 1, made an order whereby he rejected the books of account of the petitioner for the year 1371 B. S. as not being maintained in regular course on the ground that although the petitioner claimed to have started the said business on 1st Baisakh, 1371 B. S., but the books for the said year showed an opening stock of goods valued at Rs. 4,785.50, which indicated that the business was older than as alleged by the petitioner. The closing st...
Paharpur Cooling Towers (Pvt.) Ltd. and anr. Vs. Additional Commission ...
Court: Kolkata
Decided on: Aug-25-1978
Reported in: [1978]42STC398(Cal)
S. Mukharji, J.1. In this application under Article 226 of the Constitution the petitioners challenge the order passed by the Additional Commissioner of Commercial Taxes, which is annexure E to the present petition. By the impugned order the Additional Commissioner had directed the dealer to deposit a security of Rs. 50,000. The order is set out in pages 46 to 52 of the annexure to the present petition. The order proceeds on the basis that on perusal of a report dated 21st February, 1975, of the Commercial Tax Officer, Alipore Charge, a prima facie case was found that the dealer in question had mala fide used declaration forms which he had received from the Commercial Tax Officer concerned. The order, further, states as follows :It also transpired that for one particular transaction made, the dealer issued two declaration forms, Nos. C 695557 dated 3rd February, 1969 and C 004180 dated 22nd April, 1969. It, further, transpired that M/s. East India Sales & Service Corporation, 1, Bonfie...
Bar Council of West Bengal and ors. Vs. Miss Ajanta Aughstin
Court: Kolkata
Decided on: Aug-24-1978
Reported in: AIR1979Cal35,83CWN35
ORDERMurari Mohan Dutt, JJ.1. This Rule is at the instance of the defendants, the Bar Council of West Bengal and two others, and it is directed against order No. 12, dated April 5, 1977, of the learned Judge, Second Bench, City Civil Court, Calcutta. By the said order the learned Judge decided issue No. 2 in favour of the plaintiff. That issue relates to the jurisdiction of the City Civil Court to entertain and try the suit instituted by the plaintiff.2. The plaintiff is a practising advocate and her name has been entered in the State Roll maintained by the Bar Council of West Bengal, under the provisions of the Advocates Act, 1961 and the rules framed thereunder. The defendants Nos. 1, 2 and 3 held an election of the members of the Bar Council of West Bengal on Aug. 11 and 12, 1975. It is the case of the plaintiff that she came to know about the said election from her advocate friends, and on Aug. 12, 1975 the plaintiff went to cast her vote in the said election, but she was refused t...
Sushil Kumar Lahiri and ors. Vs. Registrar of Companies
Court: Kolkata
Decided on: Aug-24-1978
Reported in: [1983]53CompCas54(Cal)
P.C. Barooah, J. 1. On the basis of a complaint filed by the Assistant Registrar of Companies on October 19, 1976, in the Court of Chief Metropolitan Magistrate, Calcutta, the petitioners, who are directors of Lahiris Architectural Industries (P.) Ltd., of 12/2, Clive Row, Calcutta, are being prosecuted in case No. C/No. 4888 of 1976 under Section 210(5) of the Companies Act, 1956, for not laying at its annual general meeting held on June 27, 1975, the balance-sheet and the profit and loss account for the financial year ending on December 31, 1974. In this application, the petitioners have prayed that the proceedings pending against them in the Court of the Metropolitan Magistrate be quashed inasmuch as the complaint was filed beyond the period of one year. 2. It is submitted on behalf of the petitioners by Mr. Jitendra Nath Bose, learned advocate for the petitioners, that the offence was complete on June 27, 1975, and an application under Section 473 of the Cr. PC for condoning the pe...
Upper Ganges Sugar Mills Ltd. Vs. Commissioner of Income-tax, Central
Court: Kolkata
Decided on: Aug-24-1978
Reported in: [1981]129ITR438(Cal)
S.C. Deb, J. 1. The following question is involved in this reference under Section 256(1) of the I.T. Act, 1961, read with Section 18 of the Companies (Profits) Surtax Act, 1964: ' Whether, on the facts and in the circumstances of the case and on a proper interpretation of Expl. 1 to Rule 2 of the Second Schedule to Companies (Profits) Surtax Act, 1964, the Tribunal was right in holding that the sum of Rs. 70,33,000 being the adjustment made in respect of the excess depreciation charged in the earlier years could not be treated as part of the capital for the purposes of determining the statutory deduction under Section 2(8) of the said Act ' 2. The question related to the surtax assessment for the assessment year 1970-71. The assessee is a company to which the Companies (Profits) Surtax Act, 1964 (hereinafter referred to as ' the Act'), applies. 3. While computing the capital of the company for the assessment year 1970-71 under the Second Schedule to the aforesaid Act, the ITO included...
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