Kolkata Court July 1982 Judgments
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Commissioner of Income-tax Vs. Keshardeo Bubna
Court: Kolkata
Decided on: Jul-14-1982
Reported in: [1984]146ITR113(Cal)
Suhas Chandra Sen, J. 1. The Income-tax Appellate Tribunal has referred the following two questions of law to this court under Section 256(1) of the I.T. Act, 1961 :'1. Whether, on the facts and in the circumstances of the case, the return of income furnished by the assessee was a valid return of income within the meaning of Section 139(4) read with Section 139(1) of the I.T. Act, 1961 ? 2. If the answer to question No. 1 is in the affirmative, then, whether, on the facts and in the circumstances of the case, the Tribunal was correct in cancelling the assessment made by the Income-tax Officer within four years from the end of the relevant assessment year on the basis of the return of income furnished by the assessee as void ?' 2. The facts briefly are that there was a search in the premises of the assessee in December, 1965, and some account books were seized therefrom. On a perusal of those books the ITO came to believe that the income of the assessee from pawn-broking business for th...
Dr. Nilkamal Bez Boruah and anr. Vs. the State of West Bengal and ors.
Court: Kolkata
Decided on: Jul-13-1982
Reported in: AIR1982Cal509,86CWN1046
M.M. Dutt, J.1. In this appeal the appellants, Nilkamal Bez Boruah and his wife Smt. Sushila Bez Boruah, alleged to have been divorced, have preferred this appeal against the judgment of B. C. Ray, J., : AIR1982Cal180 whereby the learned Judge discharged the Rule Nisi issued on the application of the appellants under Article 226 of the Constitution, challenging an order of requisition under Section 3(1) of the West Bengal Land (Requisition and Acquisition) Act II of 1948, hereinafter referred to as the Act.2. The appellants claimed to have purchased the premises No. 2, Park Lane Calcutta on or about August 9, 1952, with their joint funds. The appellant No. 2, the first wife of the appellant No. 1 is alleged to have been divorced in 1954 by a decree of divorce of the High Court at Madras. It is alleged that on January 7, 1980 by a consent decree passed in Title Suit No. 1940 of 1979, the said premises No. 2, Park Lane, Calcutta was partitioned by metes and bounds between the appellants....
Commissioner of Income-tax Vs. Incheck Tyres Ltd.
Court: Kolkata
Decided on: Jul-13-1982
Reported in: (1983)32CTR(Cal)54,[1983]141ITR937(Cal)
Suhas Chandra Sen, J. 1. The Tribunal has referred the following question of law to this court under Section 256(2) of the I.T. Act, 1961 : 'Whether, on the facts and in the circumstances of the case and having regard to the provisions of Section 3 read with Section 28(1) of the I.T. Act, 1961, the Tribunal was right in holding that the amount of opening stock of Rs. 3,03,000 could be considered in arriving at the result in the manufacturing and trading account relating to the assessment year 1965-66 ?' 2. The assessee, M/s. Incheck Tyres Ltd., is engaged in the business of manufacture of tyres. The relevant previous year of the assessee ended on 30th June, 1964, corresponding to the assessment year 1965-66. 3. The assessee-company had been incorporated on April 1, 1960. In the proceedings for assessment to tax for the accounting year relevant to the assessment year 1965-66, the ITO added Rs. 3,03,000 for the following reasons: 'On examination of various details it was further found th...
Commissioner of Income-tax Vs. Gwalior Commercial Co. Ltd.
Court: Kolkata
Decided on: Jul-13-1982
Reported in: [1983]141ITR930(Cal)
Sabyasachi Mukharji, J. 1. In this reference under Section 256(1) of the I.T. Act, 1961, in respect of the assessment years 1966-67 and 1967-68, for which the relevant previous years ended on 31st March, 1966, and 31st March, 1967, the following question has been referred to this court: 'Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that in determining the annual value of the house properties at 17 and 18, Gurusaday Road, Calcutta, and at 3/1, Raja Santosh Road, Calcutta, no account should be taken of the expenditure incurred in the purchase of air-conditioners, furniture and fans for the use of the tenants ?' 2. The assessee owns three properties situated at 17 and 18, Gurusaday Road, Calcutta, and 3/1, Raja Santosh Road, Calcutta. These properties have been let out to the members of the Birla family at the annual rent of Rs. 7,200 for the first two properties and Rs. 5,400 for the third property. The rentals were considered low by the I...
Commissioner of Income-tax (Central) Vs. Bhupender Singh Atwal
Court: Kolkata
Decided on: Jul-13-1982
Reported in: (1983)32CTR(Cal)3,[1983]140ITR928(Cal)
Sabyasachi Mukharji, J.1. In this reference under Section 256(1) of the I.T. Act, 1961, the Tribunal has referred to this court, for the assessment year 1968-69, the following question :' Whether, on the facts and in the circumstances of the case, and on a correct interpretation of Sections 48, 49 and 50 of the Income-tax Act, 1961, the Tribunal was justified in holding that the cost of acquisition by the firm would be the cost of acquisition of the asset to the assessee and the written down value of the asset on the date of dissolution of the old firm cannot be taken as the cost of acquisition to the assessee for computing capital gains and the depreciation allowed in the case of the old firm cannot be taken as depreciation obtained by the assessee '2. The assessment year, as we have mentioned before, was 1968-69 for which the accounting period was ending 30th September, 1967, for share in the firm and 31st March, 1968, for other incomes. There was a firm constituted under the partner...
Commissioner of Income-tax, Central Vs. Satya Paul
Court: Kolkata
Decided on: Jul-12-1982
Reported in: [1984]148ITR21(Cal)
Sabyasachi Mukharji, J. 1. In this reference under Section 256(1) of the I.T. Act, 1961, the following question has been referred to this court :' Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in deleting the addition of Rs. 3,05,343, being the amount realised by the assessee by sale of import entitlements to M/s. Martin & Harris Pvt. Ltd. '2. This reference relates to the assessment year 1966-67. In October, 1965, the Govt. of India promulgated what was called the 'National Defence Remittance Scheme' so that foreign exchange might become available for the country's defence and other essential requirements. Under the scheme, Indian Nationals (abroad) were allowed to remit money from foreign countries on and after October 26, 1965, by way of gifts, remittances for family maintenance, transfer of capital, etc. Neither the remitters nor the recipients were liable to income-tax on such amounts. It was also assured that the source of such remittan...
Hooghly Docking and Engineering Co. Ltd. Vs. M.M.P. Lines (P) Ltd. and ...
Court: Kolkata
Decided on: Jul-09-1982
Reported in: AIR1983Cal267
Datta, J. 1. This appeal arises from the order of Sabyasachi Mukharji J. dated 30th Sept., 1977, whereby the learned Judge has entertained an application made on behalf of the defendant No. 1 in the plaintiff's suit and was pleased to make an order appointing joint Receivers who were directed to allow the vessel in suit to be plied in respect of certain charter party agreement entered into by and between the defendant No. 1 and one M/s. Indo Icelandic Fisheries Pvt. Ltd. 2. We find from para. 13 of the petition that the agreement was to the effect that the said prospective charterer had clearly stipulated that unless the said vessel was delivered to them at the Port of Madras by late Oct., 1977, they would have the option to cancel the charter. However, nothing has since been heard of from the said party after the order was stayed by the appeal court In our view, the plaintiff has claimed a lien over the vessel which is in the custody and possession of the plaintiff and such lien shoul...
Indian Oxygen Ltd. Vs. Income-tax Officer
Court: Income Tax Appellate Tribunal ITAT Kolkata
Decided on: Jul-08-1982
Reported in: (1984)7ITD81(Kol.)
1. The first ground of appeal in this case is with regard to the exclusion of the sum of Rs. 86,24,000 from the capital account of the assessee-company in terms of the Second Schedule of the Companies (Profits) Surtax Act, 1964 ('the Act') on the ground that the said amount represented dividend declared out of the general reserve. The point in issue stands now concluded against the assessee vide the ratio of the decision of the Hon'ble Supreme Court in the case of Vazir Sultan Tobacco Co. Ltd. v. CIT [1981] 132 ITR 559. The issue is, therefore, decided against the assessee and the order of the learned Commissioner (Appeals) upholding the exclusion of the said sum is upheld.2. The next controversy is with regard to the exclusion of a further sum of Rs. 78,69,681 representing the amount transferred to 'general reserve' from 'revaluation reserve' while computing the assessee's capital base in terms of Explanation 1 to Rule 2 of the Second Schedule of the Act. The revaluation reserve had ...
Indian Iron and Steel Co. Ltd. Vs. C.G. Engineering Private Ltd.
Court: Kolkata
Decided on: Jul-08-1982
Reported in: AIR1983Cal6,(1982)2CompLJ291(Cal),87CWN61
ORDERPratibha Bonnerjea, J.1. This is an application for setting aside the award No. CG/19/79/381 dated 2-9-1981 made and published by the Tribunal of Arbitrators of Indian Chamber of Commerce.2. The petitioner is a manufacturer of iron and steel materials and the respondent is a dealer of iron and steel materials as well as of Galvanized corrugated sheets. Since July 1973, the respondent has business transactions with the petitioner's branch in Calcutta. On 15-12-76, the petitioner allotted in favour of the respondent 2 wagons of defective G. C. Sheets 0.63 mm. and 2 wagons of defective B. P. Sheets 16/24 G to be supplied on a 'priority' basis from Burnpur Works. Two works orders being MDS/ W. BEN/A/10685 and MDS/W. BEN/A/ 10686 both dated 29-12-T6 were issued by the petitioner in favour of the respondent. After all the formalities were completed, the petitioner despatched 2 wagons of defective B. P. Sheets against works order No. A10686. It is the respondent's case that the petitione...
Jyotsna Ranjan Chakrabarti Vs. N.K. Mitra
Court: Kolkata
Decided on: Jul-08-1982
Reported in: AIR1982Cal518,86CWN1031
ORDERB.C. Chakrabarti, J. 1. This revisional application at the instance of the tenant is directed against an order of eviction passed by the Additional Rent Controller, Barrackpur in case No. R. C. 45 of1981 under Section 29B of the West Bengal Premises Tenancy Act. 2. The petitioner's case in brief is as follows : The petitioner was inducted as a tenant in the western hali portion of the ground floor of premises No. 292B. Bangur Avenue, Dum Dum by the then owner Smt. Probhabati Mitra at a monthly rental of Rs. 150/- payable according to English Calendar. 3. In November, 1979, the petitioner was informed by Smt. Probhabati Mitra that she had gifted the entire ground floor of the said premises to her son Sri N. K. Mitra (Opposite party No. 1). Since then the opposite party No. 1 started collecting rent from the petitioner. In or about the month of February, 1980 the petitioner received a notice to quit dated February 15, 1980 under Section 106 of the Transfer of Property Act read with ...
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