Kolkata Court September 1991 Judgments
Govind Ram Agarwal Vs. Collector of Customs
Court: Kolkata
Decided on: Sep-26-1991
Reported in: 1992(60)ELT535(Cal)
Padma Khastgir, J.1. In this writ petition under Article 226 of the Constitution Govind Ram Agarwal has prayed for issuance by a rule, in the nature of mandamus commanding the respondents Collector of Customs and Union of India to refund a sum of Rs. 13,53,169.03 stated to be excess amount of duty of customs realised from the petitioners and also for an injunction restraining the respondents from cancelling the personal bonds, in respect of 17 consignments. The petitioner imported during the period February 1985 to September 1985 30 consignments of low carbon defective CRCA coils, G.I. Sheets, tin plate secondaries etc. etc. from the port of Antwerp to Calcutta. Upon arrival the 28 consignments goods were examined by the appraisal of Calcutta Customs. The price in respect of the said 28 consignments has been paid by the petitioner. In the bills of entry the petitioner stated that they have mentioned the correct value as per invoice value. The petitioners contended that without notice t...
Tag this Judgment!Kanchanjangha Electronic Pvt. Ltd. Vs. Collector of Customs
Court: Kolkata
Decided on: Sep-26-1991
Reported in: 1994(71)ELT37(Cal)
Suhas Chandra Sen, J.1. The petitioner has relied on a Notification No. 84-ITC (PN)/90-93 issued by the Government of India, dated 9th November, 1990 under the heading 'Import and Export Policy for April, 1990 - March 1993'. In that Notification, it has been stated, inter alia, as follows : *** *** ***'4. Actual users engaged in the manufacture of electronic items requiring OGL items for growth rates of more than 10 per cent or as per the production programme under the Phased Manufacturing Programme shall make an application for the same giving details of requirement of OGL items with justification. Units in the Small Scale Sector having Phased Manufacturing Programme shall apply to DC (SSI) while other to the concerned sponsoring authority. The concerned sponsoring authority/DC(SSI) shall work out the ceiling for import of OGL items and communicate to the concerned authority for issue of the OGL Import Entitlement Certificate. Customs will allow import within the ceiling as per the af...
Tag this Judgment!Commissioner of Income-tax Vs. Hindusthan Welfare Trust
Court: Kolkata
Decided on: Sep-25-1991
Reported in: [1994]206ITR138(Cal)
Ajit K. Sengupta, J.1. In this reference under Section 256(1) of the Income-tax Act, 1961 ('the Act'), the following question of law has been referred to this court at the instance of the Revenue for the assessment year 1981-82 :'Whether, on the facts and in the circumstances of the case, the Tribunal was right in law is holding that investment in fixed depositmade in the previous year relevant to the assessment year 1981-82 out of sale proceeds of shares of companies, amounted to acquiring of 'another capital asset' in terms of Section 11(1A) of the Income-tax Act, 1961 ?'2. The brief facts giving rise to this reference are that the assessee-trust is a public charitable trust whose income is entitled to exemption under Section 11 of the Act. During the previous year ending March 31, 1981, corresponding to the assessment year 1981-82, the assessee-trust held shares in 14 limited companies and it sold the same during the said previous year for a total sum of Rs. 63,52,565. The cost of t...
Tag this Judgment!Commissioner of Income-tax Vs. Sijua (Jheriah) Electric Supply Co. Ltd ...
Court: Kolkata
Decided on: Sep-25-1991
Reported in: [1993]203ITR739(Cal)
Ajit K. Sengupta, J.1. In this reference under Section 256(2) 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, the Tribunal was right in holding the the debenture redemption reserve of Rs. 11,00,000 should be taken into account for the purpose of computation of capital according to the Second Schedule to the Companies (Profits) Surtax Act, 1964, for the assessment year 1972-73 ?'2. The facts found by the Tribunal are that the assessee-company issued 1,500 debentures of Rs. 1,000 each in the previous year ending December 31, 1961 (the company was then observing the calendar year as its accounting year). For the security of these debentures, a trust deed dated July 26, 1951, was executed in favour of the trustees by the assessee-company. Clause 13 of the conditions of the said trust deed mentions as under :' 13. The company shall open a debenture redemp...
Tag this Judgment!Hindusthan Welfare Trust Vs. Director of Income-tax (Exemption)
Court: Kolkata
Decided on: Sep-25-1991
Reported in: [1993]201ITR564(Cal)
Ajit K. Sengupta, J.1. In this reference under Section 256(1) of the Income-tax Act, 1961, for the assessment year 1984-85, the following question of law has been referred to this court :'Whether the Income-tax Appellate Tribunal, on the facts and in the circumstances of the case, was justified in holding that the loss on sale of investments of Rs. 54,982 is not allowable in computing the income of the assessee and/or treated as application of income ?'2. The brief facts of the case are that during the year of account ending on March 31, 1984, the assessee-trust incurred a loss of Rs. 54,982 on sale of certain preference shares and debited the said amount to the income and expenditure account under the head 'Loss on sale of investment'. The Income-tax Officer refused to allow the said loss on the ground that the loss on sale of shares was not allowable in the case of the trust. On appeal to the Appellate Assistant Commissioner of Income-tax, the claim of the assessee was allowed and th...
Tag this Judgment!Swapan Mandal Alias Bhaskar Purkait Vs. the State of West Bengal
Court: Kolkata
Decided on: Sep-25-1991
Reported in: (1992)1CALLT255(HC)
Jyotirindra Nath Hore, J.1. For committing murder of Dolly Gomesh alias Lily Mondal, wife of Late Robert Gomesh of Kundarali P.S. Baruipore appellant Bhaskar Purkait alias Swapan Mandal was convicted by the learned Addl. Sessions Judge, 11th Court, Alipore Under Section 302 Indian Penal Code and sentenced to imprisonment for life. The appellant seeks to assail the said order of conviction and sentence in this appeal.2. Briefly stated, the prosecution case is as under :-On 28.2.79 at about 6 p.m. the accused and the deceased introducing themselves as husband and wife under the false names of Swapan Mandal and Lily Mandal respectively came to Ambi Hotel at Diamond Harbour and booked room No. 4 of the hotel on payment of Rs. 20/- as room charge. They signed in the visitor's register and wrote the necessary particulars. They occupied room No. 4 and took two plates of food served by P.W. 2 Renubala, cook of the hotel, in the room on payment of usual charges. The lock and key of the room wer...
Tag this Judgment!Swapan Mandal Alias Bhaskar Purkait Vs. State of West Bengal
Court: Kolkata
Decided on: Sep-25-1991
Reported in: 1992CriLJ1011
J.N. Hore, J.1. For committing murder of Dolly Gomesh alias Lily Mondal, wife of Late Robert Gomesh of Kundarali P.S. Baruipore appellant Bhaskar Purkait alias Swapan Mandal was convicted by the learned Addl. Sessions Judge, 11th Court, Alipore Under Section 302 Indian Penal Code and sentenced to imprisonment for life. The appellant seeks to assail the said order of conviction and sentence in this appeal.2. Briefly stated, the prosecution case is as under:--On 28-2-79 at about 6 p.m. the accused and the deceased introducing themselves as husband and wife under the false names of Swapan Mandal and Lily Mandal respectively came to Ambi Hotel at Diamond Harbour and booked room No. 4 of the hotel on payment of Rs. 20/- as room charge. They signed in the visitor's register and wrote the necessary particulars. They occupied room No. 4 and took two plates of food served by P.W. 2 Renubala, cook of the hotel, in the room on payment of usual charges, the lock and key of the room were made over ...
Tag this Judgment!Commissioner of Income Tax Vs. Hindusthan Welfare Trusts.
Court: Kolkata
Decided on: Sep-25-1991
Reported in: (1993)111CTR(Cal)284
AJIT K. SENGUPTA, J. :In this reference under s. 256(1) of the IT Act, 1961, the following question of law has been referred to this Court at the instance of the Revenue for the asst. yr. 1981-82 :'Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that investment in fixed deposit made in previous year relevant to the asst. yr. 1981-82 out of sale proceeds of shares of companies, amounted to acquiring of 'another capital asset' in terms of s. 11(1A) of the IT Act, 1961 ?'2. The brief facts giving rise to this reference are that the assessee trust is a public charitable trust whose income is entitled to exemption under s. 11 of the Act. During the previous year ending 31st March, 1981, corresponding to the asst. yr. 1981-82, the assessee trust held shares in 14 limited companies and it sold the same during the said previous year for a total sum of Rs. 63,52,565. The cost of the said shares sold during the previous year was Rs. 23,25,466 ...
Tag this Judgment!Commissioner of Income-tax Vs. New India Investment Corporation Ltd.
Court: Kolkata
Decided on: Sep-23-1991
Reported in: [1994]205ITR618(Cal)
Ajit K. Sengupta, J.1. In this reference under Section 256(1) of the Income-tax Act, 1961, the following questions of law have been referred to this court for the assessment year 1985-86 :'1. Whether, on the facts and in the circumstances of the case and also on a proper interpretation of Sections 71 and 72 of the Income-tax Act, 1961, the Tribunal was correct in law in holding that the speculation profit of the current year would not be available for set off under Section 70 of the Income-tax Act, 1961, against the current business loss of the assessee before adjustment under Sub-section (2) of Section 73 of the Income-tax Act, 1961 ? 2. Whether, on the facts and in the circumstances of the case, the Tribunal was correct in law in upholding the Commissioner of Income-tax (Appeals)'s order that speculation profit of the current year should first be adjusted against the speculation loss of earlier years and not against the current year's business loss ?' 2. Shortly stated, the facts are...
Tag this Judgment!income-tax Officer Vs. New Card Board Industries
Court: Income Tax Appellate Tribunal ITAT Kolkata
Decided on: Sep-20-1991
Reported in: (1992)40ITD50(Kol.)
1. These cross-appeals are filed by the revenue and the assessee. The relevant assessment year involved is 1982-83. They are disposed of by a common order for the sake of convenience. As regards appeal filed by the revenue, the first objection is against the deletion of Rs. 25,000 on account of a debit note issued by the assessee. The brief facts of the case are that the assessee had income from business of supply of paper and paper boards. It also had transport business during the year.On an examination of the books of account the Assessing Officer has found that the assessee did not account for a debit note of Rs. 25,000 raised on 26-10-1981 relating to its claim for rain water damage of orient craft paper supplied by M/s. Bengal Trading Co. The claim for the damage was raised as per assessee's letter No. CBA 15073 dated 21-7-1981 and the amount of damage was settled at a lump sum of Rs. 25,000. It was submitted on behalf of the assessee that the aforesaid amount was not accounted f...
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