Kolkata Court May 1986 Judgments
G. Atherton and Co. Vs. Commissioner of Income-tax
Court: Kolkata
Decided on: May-22-1986
Reported in: (1986)56CTR(Cal)10,[1987]165ITR527(Cal)
Sen, J.1. In the assessment year 1971-72, the corresponding accounting year ending on June 30, 1970, G. Atherton & Co. (P) Ltd. was assessed to income-tax. In the said year, the assessee was found to have suffered a business loss computed at Rs. 1,00,464. The assessee, however, received by way of interest on securities a gross amount of Rs. 180, interest from bank being Rs. 109 and earned income from dividend, Rs. 1,12,000.2. The Income-tax Officer by deducting from the business loss, the three items of positive income computed the net profit of the assessee at Rs. 11,825 and then deducted Rs. 94,989 claimed in the return on account of depreciation. The total loss suffered by the assessee was thus computed to be Rs. 83,174.3. On an appeal to the Appellate Assistant Commissioner against the assessment, the assessee contended that it was entitled to deduction under Section 80M of the Income-tax Act, 1961 ('the Act'), and that the Income-tax Officer was not justified in disallowing the sa...
Tag this Judgment!Dena Bank Vs. Bertram Scott (India) Ltd. (In Liqn.)
Court: Kolkata
Decided on: May-21-1986
Reported in: AIR1987Cal134,[1989]65CompCas70(Cal)
Bimal Chandra Basak, J. 1. This appeal arises out of an order passed by the learned Trial Judge dismissing an application filed by the plaintiff/appellant for amendment of the decree D/- 21st Feb., 1979 passed in the Suit No. 276 of 1978.2. The facts of this case are peculiar and it shows how a nationalised bank in our country functions while granting loans. We shall set out such facts from the application of the appellant-plaintiffs themselves.3. Various properties belonging to the defendant were mortgaged in favour of the West Bengal Financial Corporation of India (hereinafter referred to as the said Corporation) to secure a loan by a registered indenture of mortgage on 9th Feb. 1972. The properties mortgaged were described in the several schedules to the said deed of mortgage. Thereafter with the object of creating a second mortgage in favour of the petitioner, an indenture of mortgage was created on 13th Feb. 1975. It is stated that this was done with the object of creating second ...
Tag this Judgment!Nagendra Nath Chakravorty Vs. State of West Bengal and ors.
Court: Kolkata
Decided on: May-21-1986
Reported in: AIR1987Cal199,90CWN1153
Shyamal Kumar Sen, J.1. This appeal is against the judgment and order dt. July 18, 1976 of the learned single Judge in the first Court whereby the learned Judge was pleased to discharge the Rule Nisi issued and dismissed the writ petition of the appellant.2. The appellant, the writ petitioner in the first Court is a Contractor. He submitted a tender in the name Messrs. Chakraborty & Company being Tender No. 2/ESI of 1966-67 for a part of the work in the construction of a 300 bedded general hospital, excavation of a tank and for raising the site under the E.S.I. Scheme at Budge Budge in the district of 24 Parganas under the Presidency Circle. The said tender was opened in Feb. 1976. By a registered letter dt. 18th April, 1966 the respondent 5, the Executive Engineer, Eastern Circle, Public Works Department acting on behalf of the State of West Bengal accepted the appellant's tender for the above noted work at the rate of 24.5%. A registered letter dt. 25th April, 1966 was issued by the ...
Tag this Judgment!Dunbar Mills Ltd. Vs. Union of India (Uoi)
Court: Kolkata
Decided on: May-20-1986
Reported in: 1986(9)LC155(Calcutta)
Sudhir Ranjan Roy, J.1. The petitioner No. 1 carries on business of manufacturing and selling, inter alia, textiles and blended yarn and the petitioner No. 2 is a shareholder of the petitioner No. 1.2. The raw-materials required for the manufacturing process of the petitioner No. 1 include Viscose Staple Fibre. Such Fibre of various types is imported by the petitioner No. 1 from different foreign countries. One of the varieties of the Fibre is High Tenacity Viscose Staple Fibre, which is universally accepted and recognised in the trade, as 'Durafil' Brand of High Tenacity Viscose Staple Fibre.3. Viscose Staple Fibre is liable to Customs duty and the standard rate of duty specified for such Fibre in the Customs Tariff Act, 1975 is 140 per cent.4. On November 1, 1980 the Central Government published two Notifications being Notification Nos. 215-CUS and 216-CUS both dated November 1, 1980 the texts whereof are set out below:Notification No. 215-CUS dated 1.11.1980.In exercise of the power...
Tag this Judgment!Commissioner of Income-tax Vs. Shell Petroleum Co. Ltd.
Court: Kolkata
Decided on: May-19-1986
Reported in: [1987]164ITR346(Cal)
Dipak Kumar Sen, J. 1. The Shell Petroleum Co. Ltd., the assessee, is a non-resident company. During the relevant accounting year, the assessee was a shareholder of Burmah-Shell Refineries Ltd., an existing company within the meaning of the Companies Act, 1956 (hereinafter referred to as 'the Indian Company'). The assessee held 50% of the total share capital of the Indian company.2. In the assessment year 1957-58, the assessee was assessed to income-tax under the Indian Income-tax Act, 1922. Under the order of assessment passed on February 17, 1959, the total income of the assessee was computed at Rs. 1,40,07,571 which included dividends received from an Indian company. A certificate was issued by the Indian company under Section 20 of the Indian Income-tax Act, 1922, recording that 22.01% of the dividends declared by the Indian company came out of its profits exempt under Section 15C of the Act of 1922 and that the balance 77.99% had suffered full tax. The Income-tax Officer while ass...
Tag this Judgment!Commissioner of Income-tax Vs. Mrs. Moktar Begum and ors.
Court: Kolkata
Decided on: May-19-1986
Reported in: [1986]162ITR402(Cal)
Sattsh Chandra, C.J. 1. In this reference made at the instance of the Revenue, the Income-tax Appellate Tribunal has referred several questions. But the crucial question of law arising out of the Tribunal's order is whether the business income earned by a proprietary concern owned by a Muslim widow and her minor children could be assessed in the status of an association of persons.2. For the assessment year 1966-67, the Income-tax Officer assessed the income of the concern in the status of an association of persons. This view was upheld by the Appellate Assistant Commissioner, but was reversed by the Tribunal. The Tribunal held that the assessment was properly to be made on the widow as a representative assessee, under Section 161 of the Income-tax Act, 1961.3. One Imam Ahmed Khan carried on the business as a whole saler in fish, under the name and style of 'Fida Hossain & Co.' as its sole proprietor. He died on March 3, 1960. He left behind his widow, Mrs. Moktar Begum, and seven mino...
Tag this Judgment!Bhaskar Ghosh and anr. Vs. Santosh Kumar Ghosh and ors.
Court: Kolkata
Decided on: May-16-1986
Reported in: AIR1988Cal320
Sankar Bhattacharyya, J. 1. This is a second appeal from the decree of the lower appellate court affirming the decree of a learned Munsif in a suit for declaration of right of easement and permanent injunction. 2. The case of the plaintiffs was that they are the owners of the lands described in Schedules Kha and Ga to the plaint. Plot No. 564 of Mouza Beladanda is a tank locally known as 'Boalpukur' and Plot No. 563 is the hank of the tank, described in Schedules Ka and Ka(1) respectively to the plaint. 3. According to the plaintiffs, there is a katan (opening made by cutting the bank) on the southern bank of the tank delineated by the letters Ka, Kha, Ga and Gha in the sketch map appended to the plaint through which, the water of the tank is drained out into a nala (channel) to its south for irrigating the Kha and Ga Schedule lands situated to the south and southeast of the tank. The katan is filled up with earth after the irrigation is over. 4. This right is being exercised from time...
Tag this Judgment!Commissioner of Income-tax Vs. Colour Film Distributors
Court: Kolkata
Decided on: May-16-1986
Reported in: [1987]165ITR511(Cal)
Suhas Chandra Sen, J.1. The Tribunal has referred the following question of law to this court for its opinion under Section 256(1) of the Income-tax Act, 1961 :'Whether, on the facts and in the circumstances of the case, and on a proper interpretation of the agreement dated December 25, 1965, the Tribunal was correct in holding that the entire amount of Rs. 2,25,000 and not merely the sum of Rs. 18,265 actually incurred by the assessee towards expenditure on account of publicity during the previous year relevant to the assessment year 1968-69, constituted an allowable deduction in making the assessment for the said year ?'2. The case relates to the assessment year 1968-69 for which the relevant previous year ended on June 30, 1967. The dispute is with regard to computation of profit from the film 'Phool aur Patthar'.3. The assessee is a distributor of films. It entered into an agreement with M/s. Ralhan Productions for distribution of the film 'Phool aur Patthar' in what is known in th...
Tag this Judgment!Commissioner of Income-tax Vs. Empire Jute Co. Ltd.
Court: Kolkata
Decided on: May-16-1986
Reported in: (1986)56CTR(Cal)22,[1986]161ITR556(Cal)
Ajit Kumar Sengupta, J.1. In this reference under Section 256(1) of the Income-tax Act, 1961, for the assessment year 1972-73, the following question of law has been referred to this court:'Whether, on the facts and in the circumstances of the case, and on a correct interpretation of Section 2(45), Section 80B(5) and Section 80A(2) of the Income-tax Act, 1961, the Tribunal was correct in holding that for the purpose of rebate under Section 80G and relief under Section 80M of the said Act, the total income and gross total income should be computed without setting off brought forward losses and unabsorbed depreciation of the earlier years ?'2. The facts leading to this reference are stated hereafter:3. The assessee claimed deductions under Section 80G and Section 80M of the Income-tax Act, 1961, but these claims of the assessee were negatived by the Income-tax Officer since he found the assessable income for the year under consideration after setting off of losses and unabsorbed deprecia...
Tag this Judgment!Commissioner of Income-tax Vs. North Koshalpur Colliery Co. Pvt. Ltd.
Court: Kolkata
Decided on: May-16-1986
Reported in: (1986)55CTR(Cal)409,[1986]161ITR756(Cal)
Ajtt Kumar Sengupta, J. 1. In this application under Section 256(1) of the Income-tax Act, 1961, the following question of law has been referred to this court 1'Whether, on the facts and in the circumstances of the case, and on a correct interpretation of the provisions of Sections 80-I and 80B, the Appellate Tribunal was right in holding that the assessee was entitled to deduction under Section 80-I on the profits from priority industry before deducting therefrom the unabsorbed depreciation and unabsorbed development rebate brought forward from the earlier years ?'2. This reference relates to the assessment for the assessment year 1972-73 of the assessee which is a private limited company. The assessee-company claimed before the Income-tax Officer that the deduction under Section 80-I should be given on the entire income from a priority industry. The Income-tax Officer, however, set off the unabsorbed depreciation and unabsorbed development rebate brought forward from the immediately ...
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