Kolkata Court November 1980 Judgments
DolphIn Laboratories Pvt. Ltd. Vs. Kaptab Pharmaceuticals
Court: Kolkata
Decided on: Nov-26-1980
Reported in: AIR1981Cal76
ORDERDipak Kumar Sen, J.1. The item in dispute in this suit is a drug known as 'Amoxycilin Tri-hydrale' hereinafter referred to as the said drug. The plaintiff, a private limited company, has its registered office in Calcutta and carries on the business of manufacture and sale of medicines and pharmaceutical products. The plaintiff's case is that it decided to manufacture medicines from the said drug and on the 13th Feb., 1976 applied to the Drugs Controller, Government of India for necessary permission. Pursuant to directions of the said authority the plaintiff arranged for clinical trial of the said drug in India in 1976. The trial was successful. The plaintiff thereafter invented the name 'Amotid' for the medicine it intended to manufacture from the said drug and applied for registration of the name to the Trade Mark Authorities on the 23rd Dec., 1978. This application is pending. Subsequent thereto, on the 4th Jan., 1979 the Drug Controller, Government of India approved manufacture...
Tag this Judgment!MartIn Burn Ltd. Vs. Bhagirath Murarka
Court: Kolkata
Decided on: Nov-26-1980
Reported in: [1982]52CompCas127(Cal)
Ramendra Mohan Datt, J.1. This appeal arises from the judgment and order dated March 30, 1978, passed by Roy Chowdhury J. on the petition for winding up the appellant-company. The learned judge admitted the petition and inter alia, directed advertisement to be issued. The further order was that if the company would pay Rs. 8,50,000 together with interest at the rate of 18% per annum from February 1, 1977, until payment and also the assessed costs of sixty gold mohurs before May 31, 1978, the winding-up petition would remain permanently stayed and in default the advertisement was to be published as directed. Regarding the remaining portion of the claim for Rs. 1,50,000, the order was that the petitioning-creditor would be at liberty to take appropriate steps. The learned judge held that the said portion of the claim was bona fide disputed by the company. The effect of the last portion of the order was that the winding-up petition as to the part of the claim to the extent of Rs. 1,50,000...
Tag this Judgment!Controller of Estate Duty Vs. Smt. Ila Das and ors.
Court: Kolkata
Decided on: Nov-26-1980
Reported in: (1981)25CTR(Cal)16,[1981]132ITR720(Cal)
SABYASACHI MUKHARJI J.1. One Debendra Nath Das died on the 26th December, 1957. To the misfortune of whoever are his heirs--we are, however, not actually concerned as to that--he left certain properties. The question of valuation of his estate still lingers on in 1980, twenty-three years after his death and may perhaps linger on for an ultimate solution for a decade more.2. The original account in respect of his estate was filed on 9th April, 1959. The assessment was completed under the E.D. Act, 1953, on 29th of January, 1960. The accountable person preferred an appeal before the CBR and it must be stated that the question of valuation of the two properties which are the subject-matter of this reference was not a matter in appeal before the CBR. The appeal was disposed of by the CBR on 30th August, 1961. The deceased during his lifetime was the owner of several premises including, inter alia, premises Nos. 95 and 96, Ultadanga Main Road, and the said premises had been acquired by acqu...
Tag this Judgment!Commissioner of Income-tax Vs. Kalyani Spinning Mills Ltd.
Court: Kolkata
Decided on: Nov-25-1980
Reported in: 85CWN308,[1981]128ITR279(Cal)
Sabyasachi Mukharji, J.1. The assessee is a limited company. This reference relates to the assessment years 1965-66 and 1966-67. For these assessment years the ITO did not allow depreciation on roads within the factory compound and the compound of the residential quarters of the factory employees. Against the orders of the ITO the assessee went up in appeal before the AAC. The AAC, following the order of the Appellate Tribunal for the assessment year 1963-64, held that depreciation should be allowed on these roads at the rate applicable to first class buildings. The revenue felt aggrieved by this order. It went up in appeal before the Tribunal. The Tribunal, following its previous decision, upheld the assessee's contention and dismissed the appeal and held that these roads were entitled to depreciation at the rate applicable to first class building materials. On the aforesaid facts the following question has been referred to this court:'Whether, on the facts and in the circumstances of...
Tag this Judgment!Commissioner of Income-tax Vs. Indian Oxygen Ltd.
Court: Kolkata
Decided on: Nov-24-1980
Reported in: [1982]135ITR333(Cal)
Sabyasachi Mukharji, J. 1. This reference relates to the assessment year 1964-65. The question arises as to the treatment of Rs. 75 lakhs representing a loan from the British Oxygen Co. Ltd., a company incorporated in the United Kingdom. The assessee-company is an Indian company, which was a 100% subsidiary of the British Oxygen Co. Ltd. till 1958. In 1958, the company was converted into a public limited company, as a result of which 30% of the shareholdings of the assessee-company had to be given up by the British Oxygen Co. Ltd. in favour of the public. The result was that the British company, viz., the British Oxygen Co. Ltd., sold 6,00,000 shares of Rs. 10 each with a premium of Rs. 35 for each share. The sale proceeds as reduced by any tax liabilities, if any, were agreed to be left with the assessee-company as a loan at a rate of interest, tentatively arrived at, of 6%, but which was variable. In November, 1957, the British Oxygen Co. Ltd. wrote a letter to the assessee in which ...
Tag this Judgment!Commissioner of Income-tax Vs. Britannia Industries Co. Ltd.
Court: Kolkata
Decided on: Nov-24-1980
Reported in: (1981)20CTR(Cal)272,[1982]135ITR35(Cal)
Sudhindra Mohan Guha, J.1. On the oral application of the learned advocate for the revenue, the name of the respondent in the cause title is changed to Britannia Industries Company Ltd.2. In this reference, we are posed with a short point, viz.:'Whether, on the facts and in the circumstances of the case, and on a correct interpretation of Section 40(c)(iii) of the Income-tax Act, 1961, and of Rule 3(c)(ii) of the Income-tax Rules, 1962, the Appellate Tribunal was justified in holding that the value of the perquisite of free car provided to the employees should be Rs. 150 per month in respect of each employee to whom the free use of the assessee's car was provided ?'3. This reference, at the instance of the Commissioner of Income-tax, West Bengal-IV, Calcutta, under Section 256(1) of the I.T. Act, 1961, relates to the assessment year 1966-67. For this assessment year, the assessee, which is a limited company, claimed that the value of the perquisite of free car provided to the employees...
Tag this Judgment!Das Consultants Pvt. Ltd. Vs. National Mineral Development Corporation ...
Court: Kolkata
Decided on: Nov-21-1980
Reported in: AIR1981Cal202,85CWN387
ORDERSabyasachi Mukharji, J. 1. This is an application under Section 33 of the Arbitration Act, 1940 for determination of the existence of the arbitration agreement mentioned in paragraph 2 of the petition. This peti-tion is made by a firm, formerly known as Atkins Das Private Limited now known as Das Consultants Private Limited. Subsequent to the filing of this petition, originally there was an affidavit affirmed on behalf of the petitioner on 4th July, 1980, by one Ram Krishna Majurndar wherein it was stated that the subject matter of the claim was over Rupees 50,000/-. There was a further supplementary affidavit on behalf of the petitioner affirmed by the same deponent Ram Krishna Majumdar, wherein it was stated that the Court should also determine the effect of the arbitration agreement and declare that the instant arbitration agreement covered the disputes relating to work done in pursuance of the letter of indent dated 28th April, 1972 as amended on the 24th May, 1972 as also the...
Tag this Judgment!Smt. Sudhira Bala Roy and ors. Vs. State of West Bengal and ors.
Court: Kolkata
Decided on: Nov-18-1980
Reported in: AIR1981Cal130,85CWN273
M.M. Dutt, J. 1. In this appeal, the appellants, who are admittedly owners of premises No. 196/1, Rash Behari Avenue, Calcutta have challenged the propriety of the judgment of a learned single Judge of this Court dated July 24, 1980, whereby the learned Judge, while issuing the Rule Nisi on the application of the appellants under Article 226 of the Constitution, has refused their prayer for an interim order directing the respondents to restore possession of the first and second floors of the said premises to the appellants.2. The case of the appellants as stated in the writ petition is inter alia that they had let out the first and second floors of the disputed premises to 'Suralirtha', a music and dance school. The appellants filed a suit for eviction being Title Suit No, 581 of 1978 of the second court of Munsif at Alipore against the persons in management of the said school on the grounds of reasonable requirement of the appellants of the said two floors of the disputed premises, de...
Tag this Judgment!Commissioner of Income-tax Vs. Gourepore Co. Ltd.
Court: Kolkata
Decided on: Nov-17-1980
Reported in: [1982]135ITR606(Cal)
Sabyasachi Mukharji, J. 1. In this reference, we are concerned with three assessment years, viz., the assessment years 1965-66, 1966-67 and 1967-68. In respect of these three years, only one question has been referred to this court under Section 256(1) of the I.T. Act, 1961 ;'Whether, on the facts and in the circumstances of the case, and on a correct interpretation of Explanation 2 to Section 28, Section 43(5) and Section 73 of the Income-tax Act, 1961, the Tribunal was right in holding that the losses of Rs. 50,096, Rs, 3,06,370, and Rs. 7,000 for the assessment years 1965-66, 1966-67 and 1967-68, respectively, were not losses from speculation business and should be set off against the assessee's other income of the respective years '2. The Tribunal for all these years, on this aspect, followed the principle decided by it for the assessment year 1961-62 and it will, therefore, benecessary to examine the facts found by the Tribunal and also the reasonings of the Tribunal. There, the T...
Tag this Judgment!L. Mullick and Co. and ors. Vs. Binani Properties P. Ltd. and ors.
Court: Kolkata
Decided on: Nov-14-1980
Reported in: [1983]53CompCas693(Cal)
ORDER (1) That all the property, rights and powers of the transferor-company specified in the first, second and third parts of the Schedule hereto and all other property, rights and powers of the transferor-company be transferred without further act or deed to the transferee-company and, accordingly, the same shall pursuant to Section 394(2) of the Companies Act, 1956, be transferred to and vest in the transferee-company for all the estate andinterest of the transferor-company therein but subject nevertheless to all charges now affecting the same [other than (here set out any charges which by virtue of the compromise or arrangement are to cease to have effect) ]. (Paragraphs 2, 3, 4, 5 and 6 are not relevant for our purpose and, as such, omitted)SCHEDULE PART I (Insert a short description of the freehold property of the transferor-company) PART II (Insert a short description of the leasehold property of the transferor-company) PART III (Insert a short description of all stocks, sh...
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