Kolkata Court June 1987 Judgments
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United Provinces Electric Supply Vs. Income-tax Officer
Court: Income Tax Appellate Tribunal ITAT Kolkata
Decided on: Jun-03-1987
Reported in: (1987)23ITD69(Kol.)
1. This is appeal of the assessee-company, viz., The United Provinces Electric Supply Co. Ltd. (in voluntary liquidation) against the order of the CIT (Appeals) arising out of the assessment order for the assessment year 1981-82.2. The assessee-company was in voluntary liquidation and a liquidator was appointed for winding it up. A return of income was filed on 24-7-81 by the liquidator showing a business loss of Rs. 23,447. Income from interest and under other heads was shown at Rs. 2,16,265 and against that expenses were claimed at Rs. 2,39,712. However, it was claimed by the assessee that the said receipt of Rs. 2,16,265 was not its income and even otherwise net income of a company in liquidation could be taxed. In this connection the assessee took the following grounds of appeal : (1) For that the company being in liquidation has no income referred to in Section 5 of the Income-tax Act 1961. (2) For that the Finance Act, 1981 has not fixed any rate of tax for a company in liquidat...
Calcutta Metropolitan Water and Sanitation Authority Vs. Chakraborty B ...
Court: Kolkata
Decided on: Jun-03-1987
Reported in: AIR1988Cal423
Dipak Kumar Sen, J. 1. Thematerial facts in and the proceedings leading up to this appeal are, in short, that a tender of Messrs. Chakraborty Bros., the respondent, submitted pursuant to an invitation to tender No. SE(N)/SB-k8/1976 issued by the Calcutta Metropolitan Water and Sanitation Authority. the appellant, for the work of laying 48' diameter underground R.C.C. conduit pipe along Prananath Chowdhury Lane and Rustomji Parsi Road, in the Cossipore area of Calcutta, known as Cossipore Chitpore Drainage Project, was accepted by the appellant on or about the 25th March, 1975. The work order was issued by the appellant to the respondent on the 3lst March, 1976. The work was completed by the respondent in 1978 and sometime in 1981 a completion certificate was issued by the appellant to the respondent On the final bill for Rs. 4,75.5247-being raised by the respondent on the 6th April, 1983 in respect of the work done disputes and differences arose between the parties. In the terms of the...
Commissioner of Income-tax Vs. West Bengal State Electricity Board
Court: Kolkata
Decided on: Jun-02-1987
Reported in: [1988]173ITR579(Cal)
Dipar Kumak Sen, J. 1. In this application, the Commissioner of Income-tax, West Bengal-I, Calcutta, seeks a certificate that the judgment and order dated August 5, 1986, in Income-tax Reference No. 317 (sic) of 1977 involves Substantial questions of law and that the same is a fit case for appeal to the Supreme Court. The questions which are stated to arise from the said judgment have been set out in the petition as follows :'(i) Whether a technician deputed by the foreign company under an Indian company or local authority on certain terms and conditions will be treated as an employee of the Indian company or the foreign company for the purpose of assessment of his salary paid by the Indian company in India and will be taxed under the Income-tax Act, 1961 ? (ii) Whether a foreign technician who declares before the Government of India that he was an employee of an Indian company, that his service would be performed in India and that he had necessary qualifications to get the exemption a...
Commissioner of Income-tax Vs. Smt. Asha Devi Agarwal
Court: Kolkata
Decided on: Jun-02-1987
Reported in: (1988)69CTR(Cal)188,[1988]169ITR400(Cal)
Dipak Kumar Sen, J. 1. The facts and proceedings on record leading up to this appeal are, inter alia, that Champa Gouri Ajmera, Lilam Mohta and Savita Motani, the owners of an undivided 1/5th share of premises No. 15, Cossipore Road, Calcutta (hereinafter referred to as the said property), by a deed of conveyance executed and registered on September 7, 1977, conveyed the said property to Asha Devi Agarwal, the respondent herein, for a consideration of Rs. 90,000.2. By a notice dated May 8, 1978, issued under Section 269D(1) of the Income-tax Act, 1961, the competent authority under Section 269D of the said Act initiated proceedings for the acquisition of the said property. The said notice was printed in the Gazette of India on June 10, 1978. Copies of the said Gazette were received on July 25, 1978, and made available for sale to the public.3. Prior to the issue of the said notice, a report had been submitted by the Valuation Officer, Unit VIII, Calcutta, recording that the fair market...
Commissioner of Income-tax Vs. Standard Pharmaceutical Ltd.
Court: Kolkata
Decided on: Jun-01-1987
Reported in: [1989]177ITR142(Cal)
Dipak Kumar Sen, J.1. The Commissioner, West Bengal-III, seeks a certificate in this application that the judgment and order of this court dated September 2, 1985, involves substantial questions of law and is a fit case for appeal to the Supreme Court. The substantial questions which are stated to arise from the judgment are as follows :'(1) Whether, on the facts and in the circumstances of the case and having regard to the fact that no money was received against the debentures, the Tribunal was right in holding that the said debentures should be included in computing the capital of the assessee-company under Clause (iv) of Rule 1 of the Second Schedule to the Companies (Profits) Surtax Act, 1964 ? (2) Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the sum credited to the 'Dividend reserve account' was a reserve within the meaning of Clause (iii) of Rule 1 of the Second Schedule to the Companies (Profits) Surtax Act, 1964, in computin...
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