Kolkata Court August 1987 Judgments
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Luxmi Prosad Bhattacharjee and ors. Vs. Amulya Chandra GuIn and ors.
Court: Kolkata
Decided on: Aug-07-1987
Reported in: AIR1989Cal71
Monoj Kumar Mukherjee, J.1. The appellants before us instituted the suit, out of which the present appeal arises, against the three respondents in the City Civil Court at Calcutta praying for a decree for specific performance of contract against, alternatively, for recovery of Rs. 7,000/- with interest from, the respondent 1. The case of the appellants was as follows. Sri Pran Krishna Bhattacharjee, father of the appellants, was a tenant under Respondent 1 in respect of the suit premises and the other two respondents were sub-tenants under him, In or about April, 1974 the respondent 1 agreed to sell the suit premises to the appellants and took a sum of Rs. 1,500/- as earnest money. Pursuant thereto the appellants entered into a formal agreement with the respondent 1 on Jan. 10, 1975 for purchase of the suit premises for a consideration of Rs. 45,000/- on terms and conditions embodied in the deed. A further sum of Rs. 500/- was paid to the respondent 1 on the date of execution of the ag...
Commissioner of Income-tax Vs. Birla Charity Trust
Court: Kolkata
Decided on: Aug-03-1987
Reported in: (1987)66CTR(Cal)172,[1988]170ITR150(Cal)
Dipak Kumar Sen, J. 1. The material facts on record and the proceedings leading up to this reference are, inter alia, that Birla Charity Trust, the assessee, is a trust founded in 1920. It is not in dispute thatthe income of the assessee is spent for charitable purposes. Between 1956 and 1963, the assessee received from time to time ordinary shares of Jiyajee Rao Cotton Mills Ltd. ('the company'), from various parties aggregating 96,490 shares.2. In the assessment year 1971-72, the relevant accounting year ending on March 31, 1971, the assessee received dividends on the said shares amounting to Rs. 1,44,735. In its return of income as well as in its assessment, the assessee claimed that the said amount of Rs. 1,44,735 was not exigible to income-tax under the provisions of Section 13(1)(c)(ii) of the Income-tax Act, 1961 ('the Act'), read with the second proviso to the said section. The Income-tax Officer rejected the contentions of the assessee and held that the funds of the assessee r...
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