Kolkata Court May 1983 Judgments
Titaghur Paper Mills Co. Ltd. Vs. Income-tax Officer
Court: Income Tax Appellate Tribunal ITAT Kolkata
Decided on: May-31-1983
Reported in: (1983)5ITD285(Kol.)
1. This appeal by the assessee is directed against the order of the Commissioner (Appeals), who upheld the disallowance of Rs. 5 lakhs made by the ITO being contribution made by the assessee-company for construction of a stadium.2. The assessee-company carries on business in manufacture of papers.It took lease of bamboo forest from the Government of Orissa at Dhenkanal and about 90 per cent of raw material was obtained by the assessee-company from this forest. The district magistrate and the President of the District Athletic Association, Dhenkanal, wrote a letter dated 22-7-1976 to the assessee-company mentioning that the District Athletic Association is an organisation entrusted with the responsibility of promoting sports and athletic activities in the district and for this purpose it has been decided to construct a stadium at Dhenkanal. He also wrote that the company has been operating in the district for the last half century and, therefore, it is natural to expect that they would...
Tag this Judgment!Royal Calcutta Turf Club Vs. Wealth-tax Officer, b Ward Viii and ors.
Court: Kolkata
Decided on: May-30-1983
Reported in: 1983(2)CHN53,(1983)2CompLJ345(Cal),(1984)43CTR(Cal)195,[1984]148ITR790(Cal)
M.N. Roy, J.1. 'Net wealth' under the Wealth-tax Act, 1957 (hereinafter referred to as 'the said Act'), means the amount by which the aggregate value computed in accordance with the provisions of the said Act of all the assets, wherever located, belonging to the assessee on the valuation date, including assets required to be included in his net wealth as on that date under the said Act, is in excess of the aggregatevalue of all the debts owed by the assessee on the valuation date otherthan-(i) debts which under Section 6 are not to be taken into account; (ii) debts which are secured on, or which have been incurred in relation to, any property in respect of which wealth-tax is not chargeable under this Act; and (iii) the amount of the tax, penalty or interest payable in consequence of any order passed under or in pursuance of the Act, or any law relating to taxation of income or profits, or the E.D. Act, 1953, the Expenditure-tax Act, 1957, or the G.T. Act, 1958, (a) which is outstandi...
Tag this Judgment!Union of India (Uoi) Vs. Calcutta Hardware and Iron Syndicate and ors.
Court: Kolkata
Decided on: May-30-1983
Reported in: [1984]145ITR115(Cal)
Anil K. Sen, J. 1. The Union of India obtained these two rules on applications under Article 227 of the Constitution. The subject-matter of challenge in these two rules is an order dated February 22, 1969, passed by the Commissioner, Presidency Division, whereby he disposed of the two appeals under Rule 86 of the Second Schedule to the I.T. Act, 1961, being Cases Nos. 66 and 67 of 1968-69. By the order impugned the Commissioner has held that the tax recovery proceeding initiated under the I.T. Act, 1961, for recovery of tax dues on an assessment made under the previous Act, namely, the Indian I.T. Act, 1922, is not maintainable. According to the Commissioner, demand for payment of such tax having been made under the provisions of the 1922 Act, proceedings for recovery had already started under that Act and notwithstanding the coming into force of the Act of 1961 shortly thereafter, such proceeding under the 1922 Act must continue in view of the provisions of Section 297(2)(c) of the 19...
Tag this Judgment!Remington Rand of India Ltd. Vs. Sohanlal Rajgharia and ors.
Court: Kolkata
Decided on: May-20-1983
Reported in: AIR1984Cal153,87CWN922
M.M. Dutt, J.1. This appeal is at the instance of the defendant in a suit for eviction, and it is directed against the judgment and order dt. April 21. 1978 of B. C. Basak. J passed on the implication of the defendant under Section 17 (2) of the West Bengal Premises Tenancy Act. 1956. hereinafter referred to as the Act.2. The defendant. Remington Rand of India Ltd., was initially a lessee of a two storied building being premises No. 5/A, Mangoe Lane. Calcutta for a term of 16 years under the plaintiff under a registered deed of lease dt. May 1. 1953. After the expiry of the lease, the plaintiffs and the defendant entered into an agreement referred to in the letter dt. December. 4. 1970 addressed by the defendant to the plaintiffs. The relevant portions of the said letter recording the agreement between the parties are as follows:--'(a) We have on 1st Dec. 1970 put you in vacant possession of the 1st floor of the premises No. 5/A. Mangoe Lane, Calcutta.(b) We shall continue to be in occ...
Tag this Judgment!Calcutta Chemical Co. Ltd. Vs. Krishna Das Pal and ors.
Court: Kolkata
Decided on: May-20-1983
Reported in: [1985]57CompCas503(Cal),87CWN945
Dutt, J.1. This appeal has been preferred by the Calcutta Chemical Co. Ltd., hereinafter referred to as ' the company ', against the order of a learned single judge of this court taking company matters, dismissing the application of the company to file a supplementary affidavit, a copy of the proposed supplementary affidavit having been annexed to the said application, in a proceeding under Sections 397 and 398 of the. Companies Act, 1956.2. The company has an overdraft account with its banker, the United Bank of India, hereinafter referred to as ' the bank '. The credit facilities that were available to the company under the said overdraft account at the relevant time was up to Rs. 146.37 lakhs. As such limit or extentof the credit facilities was considered by the company to be inadequate forits purpose, it approached the bank to enhance and/or modify the overalllimit of the credit facilities. After some discussions that took place betweenthe bank and the representatives of the compan...
Tag this Judgment!Karali Bauri Vs. Subhas Das Musib and ors.
Court: Kolkata
Decided on: May-20-1983
Reported in: 1983CriLJ1474
B.C. Chakrabarti, J.1. This is a revisional application at the instance of the de facto complainant and is directed against an order of acquittal passed by the learned, Additional Sessions Judge, Bankura in Sessions Case No. 7 of January, 1981. The opposite parties 1 to 5 faced trial on various charges under Sections 148, 302/149, 323/149 and 324/149, I.P.C. They were acquitted of all the charges.2. Against the order of acquittal - the State did not prefer any appeal. The Rule was obtained by the petitioner who is the brother of the de facto complainant. The de facto complainant Bibhuti has since died.3. Facts of the case leading to the present revisional application may be briefly stated thus.The incident occurred on 6th Agrahayan 1385 B. S. on plot 259 of mouza Kargahir. The case for the prosecution was that on that day in the morning the petitioner along with his brother, sister, wife and other members of his family went upon the land and while they were tying the harvested paddy in...
Tag this Judgment!New India Investment Corporation Ltd. Vs. Income-tax Officer and ors.
Court: Kolkata
Decided on: May-19-1983
Reported in: (1983)37CTR(Cal)311,[1983]143ITR909(Cal)
D.K. Sen, J.1. New India Investment Corporation Ltd., the petitioner, was at the material time and still is an assessee within the meaning of the I.T. Act, 1961. The petitioner's income, it is alleged, consists of, inter alia, profits from dealing in shares, dividends, interest on loans and interest from Government securities. The petitioner maintains its accounts in accordance with the mercantile system. 2. It is alleged that in 1970, the petitioner advanced money on interest to Bagla & Co. At the beginning of the accounting year 1972 the balance due from Bagla & Co. was Rs. 12.10 lakhs. Bagla & Co., it is alleged, had financial difficulties and on the 3rd August, 1972, an agreement was entered into by and between the petitioner and Bagla & Co. which provided that Bagla & Co. would repay the principal amount of the advance in instalments and that no interest would be charged by the petitioner in respect of the amounts outstanding in the past and also in the future.It is alleged that t...
Tag this Judgment!West Bengal State Electricity Vs. Income-tax Officer
Court: Income Tax Appellate Tribunal ITAT Kolkata
Decided on: May-18-1983
Reported in: (1983)5ITD636(Kol.)
1. The assessee's appeal is directed against the Commissioner's order under Section 263 of the Income-tax Act, 1961 ('the Act'), setting aside the ITO's order of assessment for the assessment year 1976-77.2. The Commissioner on scrutiny of the ITO's record found that the ITO in computing the income for the assessment year under appeal allowed deduction under Section 36(1)(iv) of the Act, the amount contributed by the assessee to a trust called "The West Bengal State Electricity Board Employees' Provident Fund" even though the fund was not a 'recognised fund'. The Commissioner was of the opinion that the employees' provident fund having been exempted in terms of Section 17 of the Employees' Provident Funds and Family Pension Fund Act, 1952 ('the EPF Act') the fund ceased to be a recognised provident fund within the meaning of Section 2(38) of the Act. The Commissioner in this connection relying on a circular issued by the CBDT-Circular No. 153, dated 30-11-1974-[1975] 98 ITR (St.) 37 h...
Tag this Judgment!Hindusthan Petrolium Corporation Ltd. Vs. Sashi Bhusan Mondal
Court: Kolkata
Decided on: May-18-1983
Reported in: AIR1984Cal81
ORDER1. This is an application for leave to prefer an appeal against an order dt. May 2, 1983 passed by a learned single Judge of this Court in Original Side Suit No. 40 of 1974. By the impugned order the learned single Judge has merely overruled the objections filed by the defendant against the Special Referee, such Referee being appointed in terms of the preliminary decree. The said report is yet to be accepted and decree is yet to be passed on the basis thereof, which alone will decide the rights of the parties. In that view we do not think that the order appealed against can be treated to be a judgment within the meaning of Clause 15 of the Letters Patent and appealable as such. On this ground alone we refuse the leave to prefer an appeal and reject the application accordingly. We make it very clear that we are not expressing ourselves on the merits of the challenge to the order now proposed to be appealed against, since that in our view would be open for challenge if ultimately th...
Tag this Judgment!Straw Products Ltd. Vs. Income-tax Officer.
Court: Kolkata
Decided on: May-17-1983
Reported in: [1983]6ITD35(Cal)
ORDERPer Shri B. C. Mitra, Accountant Member - The assessees appeal is directed against the order of the Commissioner under section 263 of the Income-tax Act, 1961 directing the ITO to disallow in the assessment for the assessment year 1977-78, a sum of Rs. 81,571, being the legal expenses incurred in bringing about the merger of Dena Bank Ltd. with the assessee company. The grounds taken are as under :1. That the learned Commissioner was wrong in holding that the order of assessment was erroneous and prejudicial to the interests of the revenue.2. That the Commissioner erred in holding that the legal expenditure of Rs. 81,571 relating to the merger of Dena Bank Ltd. was of capital nature.3. That the ITO had duly considered the details of all the legal expenses incurred as a portion of the expenditure was disallowed in the assessment and, consequently, the Commissioners order was without jurisdiction, bad in law and against the facts of the case.2. The assessee, Straw Products Ltd., dur...
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