Kolkata Court November 1985 Judgments
Commissioner of Income-tax Vs. Steel Rolling Mills of Hindusthan (P.) ...
Court: Kolkata
Decided on: Nov-20-1985
Reported in: (1986)51CTR(Cal)386,[1987]164ITR633(Cal)
Dipak Kumar Sen, J. 1. Messrs. Steel Rolling Mills of Hindusthan (P.) Ltd., the assessee, carries on the business of manufacture of steel castings, forgings and casting of iron rolls and ingots. On January 1, 1970, the assessee entered into an agreement with Caltex (India) Ltd. and Apeejay Structural Ltd. Under the said agreement, the assessee agreed to purchase low pressure gas cylinders from Caltex (India) Ltd, directly or from any manufacturer nominated by the latter and to hire out the said cylinders to Apeejay Structural Ltd. for sale or distribution of Calgas on the terms agreed to by and between the said Apeejay Structurals Ltd. and the assessee which would not be contrary to or inconsistent with the said agreement. The said agreement provided further that during its currency, the assessee and Apeejay Structurals Ltd. would not sell, pledge, pawn or otherwise alienate the cylinders to others without the prior consent of : Caltex (India) Ltd. Which Would retain an option to purch...
Tag this Judgment!Construction Machinery P. Ltd. Vs. Commissioner of Income-tax
Court: Kolkata
Decided on: Nov-19-1985
Reported in: [1987]164ITR394(Cal)
Dipak Kumar Sen, J. 1. Construction Machinery Private Ltd., the assessee, was incorporated under the Companies Act, 1956, on May 19, 1971, with three shareholders, namely, Atma Singh, Prem Chand Bhalla and Joginder Singh (the son of Atma Singh) who were allotted, respectively, 1010, 110 and 410 shares in the assessee-company. The assessee-company was incorporated with the principal object of taking over the business of Atma Singh carried on by him as a sole proprietor under the name and style of M/s. Construction Equipments and Parts Distributors.2. On May 19, 1971, the date on which the assessee-company was incorporated, a separate agreement was entered into by and amongst the said Atma Singh, Prem Chand Bhalla and Joginder Singh, which provided that Atma Singh would be the first managing director of the assessee-company for life and that the entire management and control of the assessee would be retained in his hands. It was agreed further that the other two shareholders,namely, Prem...
Tag this Judgment!Justice Anandamoy Bhattacharjee Vs. Income-tax Officer
Court: Income Tax Appellate Tribunal ITAT Kolkata
Decided on: Nov-15-1985
Reported in: (1986)81ITD181(Kol.)
1. The assessee, the Hon'ble Mr. Justice A.M. Bhattacharjee, was the Judge of the Sikkim High Court during the accounting period from 1-4-1979 to 31-3-1980 relevant to the assessment year 1980-81 and he is still Judge of the said High Court. He has a residential house in Siliguri in the District of Darjeeling, West Bengal. Besides income of Rs. 1,000 from other sources and that of Rs. 1,452 from house property his income from salary as per return filed by him in the sum of Rs. 43,500 has been assessed to income-tax by the ITO, Special Ward, Siliguri. He in the original return showed his status as 'resident' and 'ordinarily resident'. However, a second return was filed by him in which he claimed his status as 'non-resident'. His objection has been that his income from salary as a Judge of the Sikkim High Court was not taxable. His objection concurrently failed before the ITO and in appeal before the AAC. Hence, this second appeal.2. Arguments of the learned counsel for the assessee in ...
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