Kolkata Court March 1986 Judgments
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Official Trustee of W.B. for Trust Vs. Income-tax Officer
Court: Income Tax Appellate Tribunal ITAT Kolkata
Decided on: Mar-06-1986
Reported in: (1986)16ITD483(Kol.)
1. These two appeals filed by the same assessee are heard together and disposed of by this common order for the sake of convenience.2. The assessee is an AOP deriving income from securities and dividends. The assessment years involved in these two appeals are 1980-81 and 1981-82.3. The only common ground taken in these two appeals states that the Commissioner (Appeals) should not have dismissed the appeals filed before him by the assessee on the ground that the assessments made by the ITO should not have been made on a protective basis.4. We have heard Shri A.K. Mitter, the learned representative for the assessee, who contended before us that the only grievance of the assessee against the assessment orders now under consideration is that the assess ments have been made as a protective measure in each year.To a query put by us, he stated that he did not have any Tribunal order or other authority in support of the ground taken by him in these two appeals. Shri S. Dasgupta, the learned r...
In Re: Sakow Industries P. Ltd. (In Liquidation)
Court: Kolkata
Decided on: Mar-06-1986
Reported in: [1990]67CompCas16(Cal)
Bimal Chandra Basak, J.1. This appeal arises out of an order passed by the learned judge taking company matters dismissing an application of the appellants herein making the following prayers :'(a) An order of injunction be issued restraining the Official Liquidator, High Court, his servants and agents from selling, transferring and/ or encumbering the demised premises situate at Kaikhali, Dum Dum, comprising of the holdings under Dag Nos. 80/81, 83, 84/85 and 87 more fully described in the Schedule to the deed of lease dated June 23, 1966, being annexure 'A' to the affidavit.(b) The sale notice in the above matter be recalled and/or cancelled and/or set aside and all proceedings taken thereunder be permanently stayed ;(c) Leave be granted to the official liquidator to disclaim the said demised premises more fully mentioned in the said deed of lease dated June 23, 1966, in favour of the appellant ;(d) Direction be given to the official liquidator to hand over possession of the demised ...
Commissioner of Income-tax Vs. Bharat Refineries Ltd.
Court: Kolkata
Decided on: Mar-06-1986
Reported in: (1986)53CTR(Cal)107,[1986]162ITR652(Cal)
Dipak Kumar Sen, J. 1. On October 6, 1971, Bharat Refineries Ltd., formerly known as Burmah Shell Oil Storage and Distributing Co. of India Ltd., the assessee, filed its return of income for the assessment year 1971-72, the accounting year ending on December 31, 1970. The return was accompanied with a statement of computation of the assessable income. The assessee's profit and loss account and balance-sheet were, however, not enclosed with the return.2. In response to a notice under Sections 143(2) and 142(1) of the Income-tax Act, 1961, the assessee produced and filed its profit and loss account and balance-sheet for the said assessment year on June 8, 1973. The Income-tax Officer by his order dated March 27, 1974, made an assessment of the income of the assessee. He also charged interest under Section 139(8) of the Income-tax Act, 1961, for the period from October 1, 1971, till October 6, 1971, for late filing of the return.3. The Commissioner of Income-tax took the view that the ord...
Birendra Nath Adhikary Vs. Commercial Tax Officer and ors.
Court: Kolkata
Decided on: Mar-06-1986
Reported in: [1986]62STC324(Cal)
Ajit Kumar Sengupta, J.1. The petitioner carries on the business of manufacturing steel trunk. The accounting period of the petitioner runs from 1st day of April to 31st day of March. The petitioner started its business on 1st May, 1959. The gross turnover of the petitioner exceeded the taxable quantum of Rs. 10,000 on 20th August, 1970. The petitioner applied for registration under Section 7 of the Bengal Finance (Sales Tax) Act, 1941, in the year 1974. The registration was granted to the petitioner on 20th September, 1974. The respondent No. 1, Commercial Tax Officer, Sealdah Charge, held that the gross turnover of the petitioner exceeded the taxable quantum of Rs. 10,000 on 20th August, 1970, and therefore the petitioner was liable to pay tax under Section 4(2) of the Act with effect from 20th October, 1970. A proceeding thereafter was initiated under Section 11(2) of the Act and a notice in form VI was issued on 7th October, 1974, directing the petitioner to produce all the books o...
Commissioner of Income-tax Vs. Premchand Jute Mills Ltd.
Court: Kolkata
Decided on: Mar-05-1986
Reported in: [1987]164ITR288(Cal)
Dipak Kumar Sen, J. 1. Premchand Jute Mills Ltd., the assessee, owned And ran a jute mill known as 'Premchand Jute Mills' situate at Ghengail, Howrah, Under a deed of lease executed by the assessee, the said jute mill was let out for a period of five years with effect from November 12, 1958, with option to the lessee to have the lease renewed for another five years at a rent of Rs. 32,000 per month.2. After the expiry of the initial period of five years, the lessee exercised its option in 1963 and the lease continued up to November 11, 1968.3. After the expiry of the said lease, the assessee did not resume its business in the mill but entered into an agreement to sell the mill. Delivery of possession of the mill was given to the intending purchaser under a written agreement. The shareholders of the assessee, however, did not approve of the proposed sale whereupon the assessee recovered possession of the said mill from the intending purchaser.4. Thereafter, the assessee executed another...
Commissioner of Income-tax Vs. Bharat Mining Corporation Ltd.
Court: Kolkata
Decided on: Mar-03-1986
Reported in: [1986]160ITR941(Cal)
Dipak Kumar Sen, J.1. Bharat Mining Corporation Ltd., the assessee, was assessed to income-tax for the assessment year 1972-73 the accounting year ending on March 31, 1972, The assessee claimed deduction of an amount of Rs. 30,107 which was stated to have been paid on account of interest for late payment of provident fund dues in respect of a colliery owned by the assessee. The Income-tax Officer disallowed the claim on the ground that the amount paid represented a penalty imposed on the assessee.2. In an appeal by the assessee, the Appellate Assistant Commissioner accepted the contention of the assessee noting that interest paid by the assessee on account of late payment of cess had been allowed by the Tribunal and the Appellate Assistant Commissioner in the case of the assessee earlier. The Appellate Assistant Commissioner in this view allowed the claim of the assessee for deduction of interest paid for late payment of provident fund dues and allowed the appeal on this point.3. Being...
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