Kolkata Court December 1984 Judgments
income-tax Officer Vs. Karnani Investment (P.) Ltd.
Court: Income Tax Appellate Tribunal ITAT Kolkata
Decided on: Dec-29-1984
Reported in: (1985)13ITD309(Kol.)
1. In all these appeals filed by the department, the only ground taken assails the finding of the Commissioner (Appeals) holding that income from leasehold property at 57, Park Street Calcutta is assessable as profits and gains of business and not as income from other sources under Section 56 of the Income-tax Act, 1961 ('the Act').2. The assessment years with which we are concerned in these appeals are 1973-74 to 1978-79. The assessee is a limited company. During the previous year relevant to the assessment year 1973-74, the assessee took house property at 57, Park Street, Calcutta, on lease from Karnani Properties Ltd. At the time of taking the property on lease by the assessee-company, the ground floor of the building was already in occupation of two tenants. After renovation of the building, the assessee let out the entire ground floor to the Allahabad Bank on a monthly rent of Rs. 5,000. Before the ITO, the assessee claimed that the income derived from the said property should be...
Tag this Judgment!Steel Trading Corpn. Vs. Income-tax Officer
Court: Income Tax Appellate Tribunal ITAT Kolkata
Decided on: Dec-28-1984
Reported in: (1985)13ITD410(Kol.)
1. This is an appeal by the assessee, challenging the order of the Commissioner (Appeals) by which he has sustained the order of the ITO passed under Section 154 of the Income-tax Act, 1961 ('the Act').2. Briefly speaking, the ITO in his order noted that action under Section 154 was initiated as charging of interest, through oversight while giving effect to the order of the Commissioner (Appeals), was not made. He pointed out that interest under Section 139(8) of the Act was duly charged in the regular assessment made under Section 143(3) of the Act. He inferred that non-charging of interest in his order passed under Section 251 of the Act was a mistake apparent from the record.The assessee complied with the notice and contended in a written submission dated 10-1-1983 that as the assessment resulted in a refund, no interest was to be charged. It was also claimed that in the case of a registered firm, charging of interest under Section 139(8), treating it as an unregistered firm, is de...
Tag this Judgment!Chandeswar Prosad Singh and anr. Vs. Sub Divisional Land Reforms Offic ...
Court: Kolkata
Decided on: Dec-21-1984
Reported in: AIR1986Cal1,89CWN414
Dipak Kumar Sen, J.1. At the instance of the parties this application has been heard along with a number of other applications as the facts involved are similar and the questions of law arising are the same.2. The petitioners in these applications are either owners or lessees of or licencees in various plots of land in the State of West Bengal, a number of which have been described as agricultural land in the records of right.3. Earth extracted from the said plots has been used or utilised or is alleged to have been used or utilised for manufacture of bricks either by the petitioners themselves or by persons to whom the petitioners have made available such earth.4. The authorities contend that such extraction, use and consumption of earth were illegal, wrongful and in contravention of the provisions of Mines and Minerals (Regulation and Development) Act, 1957 (hereinafter referred to as the said Act) and the West Bengal Mines and Minerals Rules, 1973 (hereinafter referred to as the sai...
Tag this Judgment!Rose Potteries Vs. West Bengal Financial Corporation
Court: Kolkata
Decided on: Dec-21-1984
Reported in: AIR1986Cal277
ORDERSuhas Chandra Sen, J.1. The petitioner defaulted in making repayment of loans obtained from the West Bengal Financial Corporation. A demand notice was served upon the petitioner by the Corporation on 12th July, 1984. It appears from the said demand notice that the amounts due to the Corporation amounted to Rs. 10,84,000/- towards principal, Rs. 7,22,077.53 towards interest up to 30th June, 1984. A further sum of Rs. 43,123.26 was also claimed towards other dues. The total claim amounted to Rs. 18,49,211.79. The petitioner was called upon to make payment within 15 days from the date of the receipt of the notice. In the notice it was further stated that 'in default of payment as stated above within 15 days from the date of receipt of this notice the provisions of the security deeds under reference and the State Financial Corporation Act, 1951 shall be enforced against you without further reference and you shall be held liable for all costs and consequence.'2. The case of the respond...
Tag this Judgment!Sm. Nirupoma Basak and ors. Vs. Baidyanath Pramanick
Court: Kolkata
Decided on: Dec-21-1984
Reported in: AIR1985Cal406
Pyne, J.1. This appeal is directed against the judgment and order dated May 18, 1981 passed by S. C. Deb, J. dismissing the appellants' application under Section 4 of the Partition Act, 1893 for purchase of the undivided 5/6th share from the respondent who purchased the same in the dwelling house of the appellants from other co-sharers. To understand the points in issue brief facts of the case may be stated.2. Premises No. 45, Nanda Ram Sen Street (hereinafter referred to as 'the said premises') was the ancestral dwelling house of the appellants and their other co-sharers. One Gopi Ballav Pramanick alias Basak had undivided 1/2 share of the said premises. On or about 11th July, 1975 Gopi Ballav Basak sold his undivided 1/2 share in the said premises to the respondent. It is alleged by the respondent that when Gopi Ballav Basak offered his undivided 1/2 share of the said premises for sale to the respondent the respondent stated to Gopi Ballav Basak that the said share should be offered ...
Tag this Judgment!State of West Bengal and ors. Vs. Gwal Dass Mohotta
Court: Kolkata
Decided on: Dec-21-1984
Reported in: [1985]59STC346(Cal)
M.N. Roy, J. 1. This is an application for stay of operation of an order passed by the learned trial Judge on 22nd June, 1984 by the appellant/petitioners, who were respondents in that proceeding.2. It would appear that against the imposition of turnover tax by the West Bengal Taxation Laws (Second Amendment) Act, 1979, various applications were moved under Article 226 of the Constitution of India and many of such applications were heard by B. C. Basak, J., and by his judgment and orders dated 18th July, 1980, made in Matter No. 492 of 1980 [Associated Pigment Ltd. v. State of West Bengal 1983 (16), STA 409], the said learned Judge disposed of the applications holding inter alia amongst others that 'in the calculation of gross turnover, the non-taxable sales, that is, the sales referred to in Section 27 of the Act and Article 286 of the Constitution are not to be taken into consideration. However, I have held that for that reason the provisions of Section 6B(1)(a) or (b) and 4AAA(1) (a...
Tag this Judgment!Gosto Behari Pramanik Vs. Sm. Malati Sen and ors.
Court: Kolkata
Decided on: Dec-20-1984
Reported in: AIR1985Cal379,89CWN545
ORDERPrabir Kumar Majumdar, J.1. This revisional application is at the instance of the defendant-petitioner and is directed against the order dated 9th November, 1979 passed by the learned Additional District Judge, 3rd Court, Alipore in Misc. Appeal No. 461 of 1979 reversing the Order No. 9 dated 9th July, 1979 passed by the learned Munsif, 6th Court, Alipore in Title Suit No. 283 of 1979.2. The opposite party No. 1 being the plaintiff instituted a suit being Title Suit No. 283 of 1979 in the Court of Munsif, 6th Court at Alipore, against the petitioner as also opposite parties Nos. 2 to 4 for a declaration and for injunction, contending, inter alia, that the compromise decree in Title Suit No. 40 of 1971 and the proceedings in Title Execution Case No. 75 of 1974 being fraudulent and fictitious were neither binding nor enforceable against the plaintiff, and the defendant No. 1, the petitioner herein, be restrained by permanent injunction from executing the said decree.3. The opposite ...
Tag this Judgment!Commissioner of Income-tax Vs. Remington Rand India Ltd. and ors.
Court: Kolkata
Decided on: Dec-20-1984
Reported in: (1985)49CTR(Cal)242,[1986]159ITR922(Cal)
Ajit K. Sengupta, J. 1. In this reference under Section 256(1) of the Income-tax Act, 1961, the following question of law has been referred to this court for the assessment year 1972-73 :'Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the sum of Rs. 5,90,279 representing the actuarial valuation of the gratuity payable in future to the employees under the terms of the Company's Gratuity Scheme was an allowable deduction in computing the profits and gains of the assessee's business ?'2. The facts leading up to this reference are stated hereafter. In the course of the assessment proceedings, the assessee claimed before the Income-tax Officer deduction of Rs. 5,90,279 for meeting the liability to pay gratuity to the employees in accordance with the Company's Gratuity Scheme. This claim was made on the basis of the actuarial valuation of the liability as on the last day of the previous year. The payment ofgratuity to the employees was ...
Tag this Judgment!Bank of Tokyo Ltd. Vs. Inspecting Assistant
Court: Income Tax Appellate Tribunal ITAT Kolkata
Decided on: Dec-19-1984
Reported in: (1985)13ITD32(Kol.)
1. These four appeals of the assessee raising certain common grounds are disposed of by this consolidated order for the sake of convenience.The appeals relate to the assessment years 1976-77 to 1979-80.2. The assessee is a non-resident banking company. The grounds raised for the four assessment years under appeal are discussed seriatim below.3. The assessee claimed deduction of Rs. 2,25,376 representing Income-tax paid by the assessee on behalf of 10 of its employees, who left India on the basis of guarantee bonds furnished by, the assessee-company with the object of facilitating the grant of exemption certificates by the ITO assessing the employees. The IAC disallowed the assessee's claim and on appeal, the Commissioner (Appeals), in upholding the IAC's order, held that the bank had guaranteed the payment of tax liability of the individual employees as an employer and it was not the bank's business to guarantee tax payments of its employees. The Commissioner (Appeals) further observe...
Tag this Judgment!Commissioner of Income-tax Vs. Hari Charan Shyam Sundar P. Ltd.
Court: Kolkata
Decided on: Dec-18-1984
Reported in: [1986]159ITR703(Cal)
Ajit K. Sengupta, J. 1. These are two references for the assessment year 1970-71--one under Section 256(1) and the other under Section 256(2) of the Income-tax Act, 1961. Both the references arise out of the same order and the questions are interlinked. For the sake of convenience, both the references are heard together and disposed of by one judgment. 2. The assessee is a private limited company. On Sri Hari Charan and the members of his family are the shareholders of the assessee company. The assessee company sold 1,500 equity shares of Eastern India Cotton Manufacturing Company (P.) Limited to three persons who are the close relatives of the directors and the shareholders of the assessee company. The said shares were sold during the previous year relevant to the assessment year 1970-71 at Rs. 120 per share. 3. The Income-tax Officer was of the view that the fair market value of the said shares was Rs. 167 per share and because the assessee had sold the said shares at a rate much low...
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