Kolkata Court April 1991 Judgments
Auckland Jute Co. Ltd. Vs. Commissioner of Income-tax
Court: Kolkata
Decided on: Apr-30-1991
Reported in: [1994]205ITR191(Cal)
Shyamal Kumar Sen, J. 1. The assessee is a company and the assessment year involved is 1964-65 for which the previous year ended on March 31, 1964. During the year, the assessee carried on the business of manufacture and sale of jute fabrics. 2. Bird and Co., during the year, were the managing agents of the assessee-company as also two other jute mills by name the Kinnison Jute Mills Co. Ltd. and Northbrook Jute Mills Ltd. and also of another company known as Becker Gray and Co. (1963) Ltd. (hereinafter referred as 'Becker Gray'). Becker Gray acted as an export house for the export of wide hessian manufactured by the assessee-company and the other aforesaid two jute companies to the U. S. A. Becker Gray exported this wide hessian to the U. S. A. through Messrs. White Lamp and Finlay acting as agents. 3. For exporting the wide hessian, the assessee used steel cores for winding the said wide hessian into rolls. 4. In the assessment of the assessee for the year under consideration, i.e., ...
Tag this Judgment!Dr. Gayatri Sen Majumdar Vs. Vice-chancellor of the University of Calc ...
Court: Kolkata
Decided on: Apr-30-1991
Reported in: (1991)2CALLT185(HC)
Khwaja Mohammad Yusuf, J.1. The petitioner, Dr. Gayatri Sen Majumdar, moved this writ petition against the Vice-Chancellor of the University of Calcutta and others for quashing the letters of interview already issued in respect of the posts of the Lecturers in the Department of Pali in the Calcutta University for appearing before the Selection Committee on 1st September, 1989. Her main grievance is that though qualified she was excluded from the interview for the post of Lecturer in the Department of Pali of the said University. Though the interview has already taken place on the aforesaid date still the High Court granted ad interim order of injunction on 1st September, 1989 to the effect that though the interview would take place but no steps would be taken for selection of candidates without the leave of the Court.2. The application was invited by the University of Calcutta on the basis of Advertisement No. East/3/88 published in 'The Statesman' of 4th May, 1988 relating to several ...
Tag this Judgment!Auckland Jute Co. Ltd. Vs. Commissioner of Income-tax. (and Vice Versa ...
Court: Kolkata
Decided on: Apr-30-1991
Reported in: [1993]205ITR191(Cal),[1993]73TAXMAN446(Cal)
SHYAMAL KUMAR SEN J. - The assessee is a company and the assessment year involved in 1964-65 for which the previous year ended on March 31, 1964. During the year, the assessee carried on the business of manufacture and sale of jute fabrics.Bird and Co., during the year, were the managing agents of the assessee-company as also two other Jute Mills by name the Kinnison Jute Mills Co. Ltd. and Northbrook Jute Mills Ltd. and also of another company known as Becker Gray and Co. (1963) Ltd. (hereinafter refereed as 'Becker Gray') acted as an export house for the export of wide hessian manufactured by the assessee-company and the other aforesaid two jute companies to the U.S.A. Becker Gray exported this wide hessian to the U.S.A. through Messrs. White Lamp and Finlay acting as agents.For exporting the wide hessian, the assessee used steel cores for winding the said wide hessian into rolls.In the assessment of the assessee for the year under consideration, i.e., 1964-65, the Income-tax Officer...
Tag this Judgment!Moodie Vs. Inland Revenue Commissioners and Anothers. Sotnick V. Inlan ...
Court: Kolkata
Decided on: Apr-30-1991
Reported in: [1992]193ITR501(Cal)
BALCOMBE L. J. - These two appeals, by taxpayers from order made by Hoffmann J. on 4 May 1990, raise the question whether a tax avoidance scheme, which was accepted as affective for its purpose by the house of Lords in Inland Revenue Commissioners v. Plummer [1980] A. C. 896 has been rendered ineffective by the subsequent decision of the House of Lords in W. T. Ramsay Ltd. v. Inland Revenue Commissioners [1982] A. C. 300. The special commissioners so held and their decision was affirmed by Hoffmann J. by the orders under appeal.The taxpayer, Mr. Moodie, heard of the scheme, known as the Cardale Capital Income Plan, from his bank. The scheme subsequently went through several editions, but the version with which the taxpayer was concerned was mark I and, as the commissioners found, was in its essential features identical to that which was considered in Plummers case. Those essential features may be summarised as follows. (a) By an annuity agreement made on 8 March 1971 with Home and Over...
Tag this Judgment!Commissioner of Income-tax Vs. Deoria Public Charitable Trust
Court: Kolkata
Decided on: Apr-29-1991
Reported in: [1992]196ITR110(Cal)
Ajit K. Sengupta, J. 1. In this reference under Section 256(1) of the Income-tax Act, 1961, for the assessment year 1983-84, the following question of law has been referred to this court :'Whether, on the facts and in the circumstances of the case, the Tribunal is justified in law in holding that the assessee is entitled to exemption under Section 11 of the Income-tax Act ?'2. The facts are in a narrow compass. The assessee is a public charitable trust. The accounting year relevant to the assessment year 1983-84 ended on September 30, 1982. The assessee invested its assets in shares of private companies. The assessee failed to produce evidence that the assets were converted into specified investments before November 30, 1983, as required by the provisions of Section 13(1)(d) read with Section 11(5) of the Income-tax Act, 1961. Therefore, the Income-tax Officer denied exemption under Section 11 of the Income-tax Act. The Income-tax Officer was of the view that the amended provisions of ...
Tag this Judgment!Commissioner of Income Tax Vs. Shankar Industries.
Court: Kolkata
Decided on: Apr-29-1991
Reported in: (1993)112CTR(Cal)25
AJIT K. SENGUPTA, J. :In this reference under s. 256(2) of the IT Act, 1961, for the asst. yr. 1961-62 the following question of law has been referred to this Court :'Whether, on the facts and in the circumstances of the case, the Tribunal misdirected itself in law in holding that the ITO was not justified in initiating the proceedings under s. 147(a)/148 of the IT Act, 1961, and in that view setting aside the orders of the ITO ?'2. Shortly stated the facts are that the assessee is a registered firm. The ITO made the assessment for the asst. yr. 1961-62, in due course. Subsequently the said assessment was reopened under s. 147(a) of the IT Act, 1961, on the ground that certain hundi loans were not genuine. After having heard the assessee, the ITO made the reassessment and included therein Rs. 1,85,000 as income of the assessee from 'undisclosed sources' and Rs. 15,132 being interest thereon. On appeal, the ITOs action was confirmed by the learned AAC.3. Thereafter, the assessee came up...
Tag this Judgment!Deputy Commissioner of Vs. Nippon Yusen Kaisha Ltd.
Court: Income Tax Appellate Tribunal ITAT Kolkata
Decided on: Apr-26-1991
Reported in: (1991)38ITD354(Kol.)
1. The assessee is a non-resident company engaged in the business of operation of ships. The assessee declared freight earnings at Rs. 18,21,23,117 and total receipts from detention/demurrage on containers at Rs. 31,63,688. The Assessing Officer took 7.5 per cent of the total freight earnings as the taxable profits of the assessee-company. To this extent there is no dispute between the parties. The Assessing Officer further took the entire receipts of Rs. 31,63,688 from detention/demurrage as income of the assessee and therefrom allowed deduction of 5 per cent as expenses on estimate basis. Thus, out of total receipts from detention/demurrage of Rs 31,63,688, Rs. 30,05,504 was taken as income of the assessee. This was challenged by the assessee-company in appeal before the C.I.T. (Appeals). It was contended by the assessee before the C.I.T. (Appeals) that the detention/demurrage charges were part and parcel of the carriage of goods within the meaning of Section 44B and, therefore, the...
Tag this Judgment!Bethuadahari Regulated Market Committee Vs. Tapan Kumar Saha and Other ...
Court: Kolkata
Decided on: Apr-26-1991
Reported in: AIR1991Cal371,95CWN550
ORDERN.P. Singh, C.J.1. The appellant has filed this appeal against the judgment of a learned Judge of this Court, directing the respondents of the writ application not to realise the market fee within the market area in question till the respondents fully perform their duties and obligations as enjoined by the provisions of the West Bengal Agricultural Produce Marketing (Regulation) Act of 1972 (hereinafter referred to as 'the Act').2. It is the case of the petitioners of the writ application (hereinafter referred to as 'the petitioners') that they are traders and agriculturists residing within the 'Market Area' comprising Nakasipara, Kaligunj, Krishnanagar II and Tehatta II in the District of Nadia. It has been alleged that although a notification has been issued declaring several villages as 'Market Area' in accordance with the provisions of Section 3 of the Act but no infrastructural arrangements have been made by the Market Committee for providing any service to the agriculturists...
Tag this Judgment!Goodricke Group Ltd. (No. 2) (Successors-in-interest to Leesh River Te ...
Court: Kolkata
Decided on: Apr-26-1991
Reported in: [1993]201ITR266(Cal)
Ajit K. Sengupta, J.1. In this reference under Section 256(1) of the Income-tax Act, 1961, for the assessment year 1977-78, the following questions of law have been referred to this court :'1. Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the loss of Rs. 1,71,066 incurred by the assessee-company due to fluctuation of exchange rates in remittance of profit from India to its U. K. office was not an allowable deduction in its income-tax assessment for the assessment year 1977-78 ? 2. Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the loss of Rs. 368 incurred by the assessee-company in remittance of dividend was not an allowable deduction in the income-tax assessment ? 3. Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that, in computing long term capital gains arising out of the transfer of the original shares, the cost of acquisition of th...
Tag this Judgment!Star Iron Works Pvt. Ltd. Vs. Director of Enforcement
Court: Kolkata
Decided on: Apr-25-1991
Reported in: 1992(59)ELT411(Cal)
ORDERAjit K. Sengupta, J.1. This appeal is directed against the order dated September 6,1990 passed by the Foreign Exchange Regulation Appellate Board rejecting the appeal preferred by the appellant against the order of the Deputy Director, Enforcement Directorate levying a penalty of Rs. 10,000.00 for contravention of Section 9(1)(c) of the Foreign Exchange Regulation Act, 1973. The facts leading to this appeal are stated hereinafter.2. The appellant was required to export certain electrical materials to Doha, Qatar. In connection with the said export, the appellant had to furnish a bank guarantee in favour of the foreign buyer which the appellant duly did through the Central Bank of India. The said bank guarantee was for a value of US Dollars 7415.75 equivalent to Rs. 96,500/-. According to the appellant the entire matter of furnishing of the bank guarantee was routed through the Central Bank of India, an authorised deal er under the said Act. All Rules and Regulations in the matter ...
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