Kolkata Court January 1992 Judgments
Browse smarter
Open an 18-section brief on any judgment
Structured AI Brief in seconds on any result - plus Semantic Search when you need meaning, not just keywords.
- AI Brief & Ask
- Semantic AI Search
- Devil's Bench
Credentials emailed - log in to pick up where you left off.
Rama Prasad Goenka Vs. Commissioner of Wealth-tax
Court: Kolkata
Decided on: Jan-31-1992
Reported in: [1992]195ITR510(Cal)
Ajit K. Sengupta, J.1. In this reference made at the instance of the assessee, the following question of law has been referred by the Tribunal to this court under Section 27(1) of the Wealth-tax Act, 1957 :'Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was correct in its decision that income-tax refunds determined after the valuation date should be considered as an asset for inclusion in the net wealth as on the valuation date ?'2. This reference relates to the assessment for the assessment year 1974-75 corresponding to the valuation date March 31, 1974. During the material time, the assessee was a director of Duncan Brothers and Co. Ltd., from where he drew salary. The assessee also had income from other sources such as dividend, interest and director's fees, etc. He was also a partner in the firm styled 'Badridas Keshav Prosad'. The assessee claimed substantial income-tax refunds on account of taxes deducted at source. Most of these ref...
Mohan Mukherjee and Bhupati Prasanna Guha Vs. State and anr.
Court: Kolkata
Decided on: Jan-31-1992
Reported in: (1992)1CALLT499(HC)
Amal Kumar Chatterjee, J.1. These four revisional applications heard together seek to quash two proceedings, being G.R. Case No. 1210 of 1978 and G.R. Case No. 1510 of 1978, both pending before the learned Chief Judicial Magistrate of Hooghly. It appears that Charge has been framed Under Section 420/120B I.P.C. in both the cases against the petitioners which according to the learned Advocate for the petitioners, should not have been framed because the matter in dispute was a civil one and further there was no evidence of any inducement made by any of the petitioners. Another ground taken on behalf of the petitioners was that much more than three years have been taken to complete the investigation and as such, the investigation should have been stopped in accordance with the provisions of Section 167(5), Code of Criminal Procedure, 1973.2. After hearing the learned Advocates for all the parties and on perusal of the record it does not appear that there is any ground for interference by ...
National Insurance Co. Ltd. Vs. Commissioner of Income-tax
Court: Kolkata
Decided on: Jan-30-1992
Reported in: [1995]213ITR862(Cal)
Ajit K. Sengupta, J.1. In this reference under Section 256(2) of the Income-tax Act, 1961, the following question of law has been referred to this court :' Whether, on the facts and in the circumstances of the case and on a proper interpretation of Sections 140(c) and 292B of the Income-tax Act, 1961, the Tribunal was justified in law in holding that the return of income filed on February 14, 1978, over the signature and verification of Mr. N. L. Kanodia, a director, was invalid ?'2. Shortly stated, the facts are that for the assessment year 1977-78, the assessee-company filed a return of income on February 14, 1978. The return was signed and verified by one Shri N. L. Kanodia, director-cum-general manager of the company. Since this verification was not in accordance with the provision of Section 140(c), the Income-tax Officer sent a letter to the managing director of the company pointing out the provision of Section 140(c). It was further pointed out that in case the managing director...
Commissioner of Income-tax Vs. Oberoi Building and Investment Pvt. Ltd ...
Court: Kolkata
Decided on: Jan-30-1992
Reported in: [1993]203ITR403(Cal)
Shyamal Kumar Sen, J.1. Pursuant to the direction of this court under Section 256(2) of the Income-tax Act, 1961, the Tribunal has referred the following question :'Whether, on the facts and in the circumstances of the case, the Tribunal was justified in computing the cost of acquisition of right shares issued by Messrs. East India Hotels Limited at Rs. 6.25 per share as against Rs. 1.79 taken by the Income-tax Officer ?'2. The facts relevant for the said question as found by the Tribunal are as follows :3. The assessee is a company deriving income from business and other sources. It held certain shares of Messrs. East India Hotels Limited as investment. During the previous year under consideration, Messrs. East India Hotels Limited declared bonus shares as well as right shares in the holding of one share for every five shares held in both the cases. Simultaneously, it also issued new equity shares for the public. The assessee sold its right to purchase 29,000 right shares at Rs. 3.50 ...
Allahabad Bank Vs. S.M. Engg. Industries and ors.
Court: Kolkata
Decided on: Jan-30-1992
Reported in: (1992)2CALLT138(HC)
Ajoy Nath Ray, J.1. This is a bank's suit against six defendants. It is the admitted case that prior to 1982 the 2nd defendant carried on business under the name and style of the 1st Defendant. The bank's case is that in the year 1982 a partnership was constituted by the defendant Nos. 2, 3 and 4 adopting the same name as is now borne by the first defendant. The 5th defendant and the 6th defendant are sought to be made liable by the bank as guarantors in respect of the 1st defendant after it became a partnership concern.2. In 1980 and 1981 several sums of money were advanced by the bank to the 2nd defendant. The amounts are mentioned in paragraphs 7 and 8 of the plaint and the only witness deposing on behalf of the bank has proved these advances made to the 2nd defendant to my complete satisfaction. The matter of passing of decree as against the 2nd defendant is accordingly beyond any dispute.3. The bank's case is that in or about the month of May, 1982 several documents were executed ...
The State Vs. Sankar Das Banerjee
Court: Kolkata
Decided on: Jan-30-1992
Reported in: (1992)1CALLT226(HC)
Jyotirindra Nath Hore, J.1. The State of West Bengal has preferred this, revision against the order dated 11.1.89 passed by the learned Chief Metropolitan Magistrate, Calcutta, discharging the accused for non-completion of the investigation within the time fixed Under Section 167(5) of the Code of Criminal procedure.2. The accused opposite party was arrested on 11.5.88. As this was a summons case, the investigation ought to have been completed within six months from that date, that is to say, 11.11.88. But the investigation was not completed within that time and it was completed on 28.12.88 and charge-sheet was submitted on 29.12.88. As the investigation was not completed within the statutory period, the learned Magistrate refused to take cognizance and discharged the accused.3. It is well settled that non-compliance of Section 167(5) of the Code of Criminal Procedure is not a more irregularity which can be cured Under Section 461 of the said Code. In case the police continues investig...
Lakshmi Commercial Bank Ltd. Vs. Bengal National Textiles Mills Ltd. a ...
Court: Kolkata
Decided on: Jan-29-1992
Reported in: AIR1992Cal278
ORDER1. This is an application made by way of Master's Summons on behalf of the named plaintiff in the suit. However, it is today an undeniable fact that the Lakshmi Commercial Bank Ltd. has merged into Canara Bank which is a nationalised Undertaking.2. There are several prayers in the Summons. The suit was originally presented in 1984 without first obtaining leave under Clause 12. The said leave is sought for today for the purpose of regularising the suit. The third defendant has died during these years and another person is sought to be substituted in his place. There has been a change of name of the first defendant, as named in the plaint and amendments are sought in that regard also.3. The point of primary importance is whether leave under Clause 12 of the Letters Patent can, in law, be granted today.4. Under Clause 12 of the Letters Patent it has been clearly provided that this Court shall not receive, try or determine suits in case such leave is necessary in terms of the Clause, ...
Jayashree Roy Chowdhury Vs. Oriental Insurance Company Limited
Court: Kolkata
Decided on: Jan-29-1992
Reported in: AIR1992Cal355
1.This suit was instututed by Smt. Jayashree Roy Choudhury the soleproprietor of the business under the name of Industrial Distributors against the Oriental Insurance Co. Ltd., for realisation of a sum of Rs. 66,500/- on account of compensation for the loss of 190 gas cylinders, which according to the plaintiff were lost due to risks covered under the Burglary Insurance Policy bearing No. 3130/22/C/Misc./760/DP/79 dated 6th July, 1979. The said insurance policy was originally for the period from 7th July, 1979 to 7th July, 1980 (4 PM). By and under a special endorsement dated July 7, 1980, the said policy was renewed for a further period of 12 months from 7th July, 1980 to 7th July, 1981 (4 PM).2. According to the plaintiff on the night of February 17-18, 1981, at about 2AM, a burglary took place at the godown of the plaintiff at No. 99C, Kankulia Road, Calcutta, where the insured goods were kept by the plaintiff. By reaosn of the said burglary, according to the plaintiff, 190 gas cyli...
Commissioner of Income-tax Vs. Oriental Co. Ltd.
Court: Kolkata
Decided on: Jan-29-1992
Reported in: [1995]215ITR844(Cal)
Ajit K. Sengupta, J.1. In this reference under Section 256(2) of the Income-tax Act, 1961, for the assessment years 1977-78 and 1978-79, the following question of law has been referred to this court :'Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was justified in law in holding that the Income-tax Officer had exceeded his jurisdiction in computing the net dividend income and then allowing relief under Section 80M by passing the rectification order under Section 154 of the Income-tax Act, 1961 ?'2. Shortly stated, the facts are that the assessee is a limited company deriving income from business in money-lending, interest on securities and dividend. The Income-tax Officer had completed the original assessments allowing reliefs under Section 80M of the Act on the gross amounts of dividend following the decision of the Supreme Court in the case of Cloth Traders (P.) Ltd. v. Addl. CIT : [1979]118ITR243(SC) . Subsequently, the Income-tax Offic...
Calcutta Electric Supply Corporation (India) Ltd. Vs. Inspecting Assis ...
Court: Kolkata
Decided on: Jan-29-1992
Reported in: [1992]196ITR610(Cal)
Suhas Chandra Sen, J.1. In this writ petition, the petitioner has challenged the two notices under Section 154 of the Income-tax Act, 1961, both dated September 9, 1986, issued by the Inspecting Assistant Commissioner of Income-tax, Assessment Range-XI, Calcutta, for the assessment years 1980-81 and 1981-82.2. The allegation in the notice is that :' Interest claimed for loans taken to set up new projects had been allowed by the Income-tax Officer when the new project was not commissioned during the previous year. Thus, interest had been allowed as a deduction at pre-commencement stage of the business/production of the new unit.'3. The case of the petitioner is that the petitioner is engaged in the business of generation and distribution of electricity. Its business is being carried on under a licence granted by the Government of West Bengal for a certain number of years. The generating stations are located at Mulajore, Cossipore, Metiabruze and Titagarh. In the course of its electric s...
- ‹ Prev
- 2
- 3
- 4
- Next ›
- Last »