Kolkata Court December 1989 Judgments
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In Re: Nopany and Sons Pvt. Ltd.
Court: Kolkata
Decided on: Dec-05-1989
Reported in: (1990)1CALLT265(HC),[1991]70CompCas262(Cal)
Umesh Chandra Banerjee, J.1. The basic requirement of the provisions of Section 434 of the Companies Act, 1956, is the existence of a debt due and payable by the company to the petitioning creditor and in the event the petitioning creditor establishes such a claim even though prima facie, the question of the maintainability of the petition under the provisions of the Companies Act for winding up of the company cannot be doubted. At this juncture, it is to be noted that this burden lies on the company to satisfy the court as to the existence of a bona fide dispute in regard to the matter in issue and in the event a debt is bona fide disputed, the proper course would be for the law courts not to proceed with the winding up proceedings further and give leave to the petitioning creditor to file a suit for the adjudication of disputes in the matter in issue. While directing filing of the suit, the court may, however also, direct furnishing of some securities. Incidentally, it is to be noted...
Borhat Tea Co. Ltd. Vs. Income-tax Officer.
Court: Kolkata
Decided on: Dec-05-1989
Reported in: [1990]33ITD9(Cal)
ORDER1. This appeal filed by the assessee is against the order of the Commissioner of Income-tax, West Bengal-I dated 14-3-1988 under section 263 of the Income-tax Act, 1961.2. The assessment for the assessment year 1985-86 was completed under section 143(3) on 26-12-1985. The Commissioner found the said assessment order as erroneous in so far as it was prejudicial to the interest of revenue on the ground that the ITO had applied an incorrect rate of tax and that there had been an incorrect application of Article 12(2) of the D. T. A. Convention resulting in a total under charge of tax of Rs. 37,690. In that view he started proceedings under section 263 by issue of notice dated 23-2-1988. The assessees counsel appeared before the Commissioner and filed written submissions. It had been stated therein that the rate of tax at 15% was correctly applied by the ITO on interest on short-term deposits with Banks and the Housing Development Finance Corporation and that the said interest satisfi...
Steel Rolling Mills of Hindusthan Pvt. Ltd. Vs. Commissioner of Income ...
Court: Kolkata
Decided on: Dec-05-1989
Reported in: (1992)107CTR(Cal)65
BHAGABATI PRASAD BANERJEE, J. :The Tribunal has referred the following questions raised at the instance of the assessee :'(i) Whether, on the facts and in the circumstances of the case the Tribunal was right in law in declining to admit the additional grounds;(ii) Whether, on the facts and in the circumstances of the case Tribunal was justified in holding that it would not be proper to admit the additional grounds in question at this stage and whether in concluding so it has relied on irrelevant facts;(iii) Whether, on the facts and in the circumstances of the case, the Tribunal has exercised its discretion judicially in refusing to entertain the additional grounds after having found precisely that all the necessary materials in support of the assessees case was already on record and no further investigation would be required;(iv) Whether, on the facts and in the circumstances of the case, the Tribunal misdirected itself by applying the ratio and in finding support of its conclusion in...
Commissioner of Income-tax Vs. Jai Hind Investment Industries (P.) Ltd ...
Court: Kolkata
Decided on: Dec-04-1989
Reported in: [1993]202ITR316(Cal)
Suhas Chandra Sen, J.1. The Tribunal has referred the following three questions of law to this court under Section 256(1) of the Income-tax Act, 1961 :'1. Whether, on the facts and in the circumstances of the case, the sum of Rs. 60,432 should be assessed as business income of the assessee? 2. Whether, on the facts and in the circumstances of the case, the sum of Rs. 60,432 was dividend income of the assessee under Section 2(22)(d) of the Income-tax Act, 1961 ? 3. If the answer to question No. 2 is in the affirmative, then whether, on the facts and in the circumstances of the case, the assessee was entitled to relief under Section 80M of the Income-tax Act, 1961, in respect of the sum of Rs. 6,04,320 ?' 2. The assessment year involved is 1974-75 for which the relevant accounting period is the year ended March 31, 1974. The facts of this case, as found by the Tribunal, are as follows :The assessee-company had purchased 20,144 shares of the Punjab National Bank Ltd., on January 2, 1974, ...
Commissioner of Income-tax Vs. Richardson and Cruddas Ltd.
Court: Kolkata
Decided on: Dec-04-1989
Reported in: [1993]202ITR350(Cal)
Suhas Chandra Sen, J. 1. The following question of law has been referred to this court by the Tribunal under Section 256(2) of the Income-tax Act, 1961 :' Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that the entire remuneration to the custodian and other administrative expenses were admissible deductions under Section 57(iii) of the Income-tax Act ?'2. The assessment year involved is the assessment year 1974-75 for which the relevant period of account is the year ending on May 30, 1973.3. The facts stated by the Tribunal are as under :The dispute in all these appeals related to the assessee's claim for deduction of remuneration to the custodian and other administrative expenses incurred by it against its income from other sources. The assessee is a limited company and was engaged in the manufacture and production of various engineering equipment of national importance. It went into bad ways and, therefore, the Government of I...
Commissioner of Income-tax Vs. Sutlej Cotton Mills Ltd.
Court: Kolkata
Decided on: Dec-04-1989
Reported in: [1992]196ITR421(Cal)
Bhagabati Prosad Banerjee, J. 1. The Tribunal has referred the following question of law under Section 256(1) of the Income-tax Act, 1961, to this court :' Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the payment of Rs. 10,778 under the Emergency Risks Insurance Act, 1971, for defaulted premium was not in the nature of penalty and it should, therefore, be allowed as business expenditure '2. In this proceeding, the assessment year involved is 1978-79 for which the relevant year of account is the year ended on March 31, 1978.3. The facts found by the Tribunal as contained in the statement of case are as follows :' The assessee is a limited company. The assessment year involved is 1978-79, the relevant accounting period for which ended on March 31, 1978. In the course of assessment of the company for the assessment year 1978-79, the Income-tax Officer found that the company paid Rs. 10,778 as shortfall of premium and Rs. 1,353 as c...
Tarapada Bhattacharjee Vs. State of West Bengal and ors.
Court: Kolkata
Decided on: Dec-04-1989
Reported in: (1990)2CALLT399(HC)
Paritosh Kumar Mukherjee, J.1. This writ petition was moved by Tarapada Bhattacharjee, Secretary of Panskura I Gram Panehayat, challenging the impugned order dated 21st February, 1989, whereby the Block Development Officer, Panskura I, District Midnapore, purported to terminate the service of the petitioner on attaining the age of 58 years with effect from 30th April, 1989, afternoon, as per the Death-cum-Retirement Benefit Scheme, 1985.2. It is the case of the writ petitioner in the instant writ petition that the petitioner had exercised option addressed to the Director of Panchayat by letter dated September 22, 1988, that the petitioner had exercised option previously before the appropriate authority by his letter dated February 21, 1986, and wanted to retire on attaining the age of 58 years as per Scheme 5 of the Death-cum-Retirement Benefit Scheme for the Employees of Panchayats. The said Clause 5 runs as follows :'5(A)(i) : Every employee willing to come under the scheme will have...
Sk. Salam Vs. Sant Singh and Another
Court: Kolkata
Decided on: Dec-01-1989
Reported in: AIR1990Cal315,I(1991)DMC371
ORDERHaridas Das, J.1. This civil revisional application by the respondent/petitioner Sk. Salam is directed against an order dt. Mar. 27, 1989 passed by the learned Additional District Judge, Tenth Court, Alipore rejecting the petitioner's application under S. 34(2) of the Special Marriage Act, 1954 (hereinafter referred to as the said Act) in Matrimonial Suit No. 28 of 1988 (original suit, being Matrimonial Suit No. 757 of 1987).2. It appears that the opposite party No. 1 Sant Singh, father of Sm. Jaginder Kaur instituted the suit under S. 24(i) and 25(III) of the said Act for a decree that the purported marriage between the petitioner and Jaginder Kaur (the opposite party No. 2 herein) alleged to have been contracted under the provisions of the said Act was null and void and for annulment of such marriage by a decree of nullity mainly on the ground that the opposite party No. 2 was a minor being under 18 years of age on the date of the alleged marriage and that her consent to such al...
Nand Kishore Todi and ors. Vs. the Union of India (Uoi) and ors.
Court: Kolkata
Decided on: Dec-01-1989
Reported in: (1990)1CALLT348(HC)
Monoranjan Mallick, J.1. The petitioners who are husband and wife claiming to be non-resident Indians residing in the United States of America have applied for permission under Section 31(1) of the Foreign Exchange Regulation Act, 1973 to acquire and hold immovable property in India being Flat No. B320 on the 2nd floor of the premises No. 106 or Narkeldanga Main Road, Calcutta in Form No. IPI-1 along with requisite papers at the Calcutta Head Office of Reserve Bank of India on 10th March 1987.2. The petitioners said permission has been refused by the controller, Reserve Bank of India Exchange Control Department, Central Office,. Bombay by the order dated, 25th July 1987 and thereafter by order dated, 24th August, 1987. As the representations of the petitioners through their authorised representative S. K. Khemka & Co., Chartered Accountants, to the Controller, Reserve Bank of India has found no response of the Reserve Bank of India, the petitioners have moved this Court under Article 2...
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