Kolkata Court August 1993 Judgments
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Commissioner of Income-tax Vs. Graphite India Ltd.
Court: Kolkata
Decided on: Aug-13-1993
Reported in: (1994)121CTR(Cal)504,[1994]209ITR318(Cal)
Ajit K. Sengupta, J.1. This appeal by the Commissioner of Income-tax (Central-II) is directed against the judgment and order dated July 17, 1990 (see : [1991]188ITR146(Cal) ), of a learned single judge on the writ application filed by the respondent.2. The facts leading to this appeal are that the respondent/writ petitioner filed on June 12, 1981, a statement of advance tax under Section 209A(1)(a) of the Income-tax Act, 1961, for the assessment year 1982-83 on the basis whereof a sum of Rs. 1,34,97,379 was payable by way of advance tax. The respondent paid advance tax of Rs. 21,99,126, Rs. 5,56,615 and Rs. 5,00,000 on June 12, 1981, July 23, 1981, and November 19, 1981, respectively, by three instalments for the said assessment year 1982-83. As the income of the respondent was expected to be less, it filed on December 14, 1981, Form No. 29 estimating its income subject to advance tax and advance tax payable thereon estimated at Rs. 1,06,19,318. The respondent paid Rs. 31,66,807 and Rs...
Commissioner of Income-tax Vs. Western Estates
Court: Kolkata
Decided on: Aug-13-1993
Reported in: (1994)122CTR(Cal)21,[1994]209ITR343(Cal)
Shymal Kumar Sen, J.1. In this reference made at the instance of the Revenue, the following questions have been referred by the Tribunal to this court under Section 256(2) of the Income-tax Act, 1961 :'1. Whether on a correct interpretation of the provisions of income-tax law, the Tribunal was correct in not admitting the additional ground taken by the Department that the Commissioner of Income-tax (Appeals) erred in not giving opportunity of being heard to the Departmental Valuation Officer in the matter of working out the cost of construction of the flats and other units at 10, Gurusaday Road, Calcutta ?2. Whether, on the facts and in the circumstances of the case, the Tribunal was correct in law in upholding the order of the Commissioner of Income-tax (Appeals) deleting the addition made under Section 69B of the Income-tax Act, 1961 ?3. Whether, on the facts and in the circumstances of the case and also on a correct interpretation of the provision of Section 22 of the Income-tax Act...
Kumar Bros. Vs. Assistant Commissioner of
Court: Income Tax Appellate Tribunal ITAT Kolkata
Decided on: Aug-11-1993
Reported in: (1993)47ITD552(Kol.)
1. This appeal filed by the assessee is directed against the order of the CIT(A) confirming the penalty of Rs. 1 lac imposed on the assessee under Section 27 1B of the Act.2. The assessee is a registered firm. During the relevant accounting year, the assessee carried on business in jute goods and shares. The assessee also indulged in certain speculative transactions. In respect of the accounting year ended 12-11-1985, relevant for the assessment year 1986-87, the assessee was liable to have its accounts audited under Section 44AB of the Income-tax Act. The due date for obtaining the Audit Report was 30-6-1986. However, the Audit Report under Section 44AB was obtained by the assessee only on 30-9-1986. The Audit Report was filed along with the return of income on 21-10-1986. The Assessing Officer completed the assessment and initiated proceedings for penalty under Section 271B of the Act. The assessee explained in the course of the penalty proceedings that the Auditor M/s. S.K. Singhan...
Commissioner of Income-tax Vs. Duncan Brothers and Co. Ltd.
Court: Kolkata
Decided on: Aug-11-1993
Reported in: (1994)121CTR(Cal)492,[1994]209ITR44(Cal)
Ajit K. Sengupta, J. 1. At the instance of the Revenue, the following question has been referred by the Tribunal for the opinion of this court under Section 256(2) of the Income-tax Act, 1961, for the assessment year 1981-82 : 'Whether, on the facts and in the circumstances of the case, the Tribunal was justified in quashing the order passed under Section 263 of the Income-tax Act, 1961 ?' 2. The facts as found by the Tribunal are as under : The assessee-company was holding 5,000 shares of Duncan Brothers (Pakistan) Ltd. The said company was ultimately renamed as 'Duncan Brothers (Bangladesh) Ltd.' as a result of separation of Bangladesh from Pakistan. After the Indo-Pakistan conflict, the said company in East Pakistancame under the control of the Custodian of Enemy Property. The Custodian made a payment of Rs. 2,05,732 to the assessee-company as compensation for 5,000 shares held by it in Duncan Brothers (Bangladesh) Ltd. The cost of acquisition of the said shares by the assessee was ...
Burlingtons' Of Calcutta Vs. Assistant Commissioner Of
Court: Income Tax Appellate Tribunal ITAT Kolkata
Decided on: Aug-06-1993
Reported in: (1993)47ITD543(Kol.)
1. These appeals filed by the assessee relate to the assessment years 1982-83 and 1983-84. They are directed against the consolidated order of the CIT (A) by which he sustained the penalties imposed under Section 271(1)(a) of the Act on the assessee for a period of 10 months.The penalties sustained by the CIT (A) are Rs. 11,962 and Rs. 9,848 respectively.2. The assessee is a registered firm carrying on business in Calcutta.The accounting years ended on 31-1-1982 and 31-1-1983. The returns were due on 30-6-1982 and 30-6-1983. On 20-7-1982. there was a search in the assessee's business premises and the books of account were seized. On 11-7-1984, the ITO issued notices under Section 148 of the Act calling upon the assessee to file returns of income for the two years. In response thereto, the assessee filed the returns for both the years on 25-3-1985. On completion of the assessments, the ITO initiated proceedings for imposing penalties for the delayed submission of the returns. The asses...
Deputy Commissioner of Vs. Bengal Rowing Club
Court: Income Tax Appellate Tribunal ITAT Kolkata
Decided on: Aug-06-1993
Reported in: (1994)48ITD512(Kol.)
1. The appeal is delayed by one day. After perusing the petitions dated 27-2-1989, for the condonation of the delay and after hearing the Id.departmental representative, we are satisfied that the delay was due to reasonable cause. We condone the same and admit the appeal.2. The assessee in the present case is the Bengal Rowing Club. We are concerned with the assessment year 1985-86 for which the relevant previous year ended on 31-12-1984. The Club filed a return of income on 17-6-1985, showing "nil" income. The assessment was originally completed under Section 143(1), but later reopened under Section 143(2)(b) of the Act. In the course of the assessment proceedings pursuant to the notice under Section 143(2)(b), the assessee produced its books of account and other relevant details as required by the Income-tax Officer. The Income-tax Officer took note of the facts that the total receipts by way of subscription amounted to Rs. 5,23,810, interest on Fixed Deposit amounted to Rs. 40,767 ...
Indian Bank Officers' Association and Ors. Vs. Indian Bank and Ors.
Court: Kolkata
Decided on: Aug-06-1993
Reported in: (1994)121CTR(Cal)443,[1994]209ITR72(Cal)
Ruma Pal, J.1. Two questions arise for determination in thiscase :'(1) Whether accommodation provided by a nationalised bank for which rent is fixed under the Regulations of the bank is a perquisite within the meaning of Section 15 read with Section 17(1)(iv) and Section 17(2) of the Income-tax Act, 1961 (referred to as 'the Act') ? (2) Whether the demand for tax treating such accommodation as perquisites could be made retrospectively ?' 2. The petitioners are employees of the Indian Bank. The Indian Bank is a nationalised bank and is governed by the provisions of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970. In exercise of the powers conferred by Section 19 read with Sub-section (2) of Section 12 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, the board of directors of the Indian Bank in consultation with the Reserve Bank of India and with the previous sanction of the Central Government made the Indian Bank (Officers) Servic...
B.K. Roy Pvt. Ltd. Vs. Commissioner of Income-tax and ors.
Court: Kolkata
Decided on: Aug-05-1993
Reported in: [1995]211ITR500(Cal)
Suhas Chandra Sen, J.1. The relevant facts are that during the previous year relevant to the said assessment year, the petitioner received a sum of Rs. 21,20,000 from Messrs. Shaw Wallace and Company Limited as compensation on surrender of its monthly tenancy. The said tenancy was the capital asset of the petitioner and no cost of acquisition was incurred for its acquisition. In the assessment proceedings, the Assessing Officer accepted that the said sum could not be assessed to tax since there was no cost of acquisition of the said monthly tenancy.2. The contention made on behalf of the assessee is that the view of the Assessing Officer is in consonance with the Division Bench decision of this court and other High Courts and the Supreme Court. The decision of the Division Bench of this court is in the case of CIT v. Mangtu Ram Jaipuria : [1991]192ITR533(Cal) . The Commissioner in the notice initiating the proceedings is not disputing this aspect and is accepting the fact that the said...
In Re : Haryana Finance Trading Co.
Court: Kolkata
Decided on: Aug-05-1993
Reported in: (1993)2CALLT264(HC)
R. Bhattacharyya, J.1. By an agreement of Hire Purchase, dated 19.7.90, the respondent came to possess a Motor Vehicle bearing No. 364052 349770 on the chasis and No. 692 Do 7 360996 on the Engine subject to performance of its terms and conditions embodied in the agreement among which a dispute, if any, to be resolved by the sole arbitrator was one. The respondent succeeded in making part payment of the 10 instalment out of 23 and the total amount thus paid was Rs. 1,26,130.00 in aggregate.2. The respondent for his lack of financial capability could not square lap the dues payable under the agreement and surrendered the possession of the vehicle inconsequence on 20.10.1992. He requested fervently the financier, to recover the dues and the sum if received in excess be paid to the hirer.3. The financier intimated by its letter dated 22.11.92 to the hirer that the amount could not be recovered as the estimated value or price came down to Rs. 2.8 lakhs demanding further sum from him to pay...
S.M. Anwar and Co. and anr. Vs. State of West Bengal and anr.
Court: Kolkata
Decided on: Aug-05-1993
Reported in: 1993CriLJ3754
ORDERGitesh Ranjan Bhattacharjee, J.1. One Food Inspector filed a complaint, with the consent endorsed thereon by the Local (Health) Authority and Chief Municipal Health Officer, against the present petitioners who are a firm and its partner in respect of offence punishable under Section 16(1)(a)(i) and (ii) read with Section 7 of the Prevention of Food Adulteration Act, 1954 (PFA Act, for short). The complaint was filed in the Court below sometime in July, 1990 on the basis of a report of the Public Analyst in respect of the sample of tea duly purchased by the Food Inspector from the shop of the petitioners and forwarded to the Public Analyst for examination. The Public Analyst was of the opinion that the sample of tea did not conform to the prescribed standard in respect of total ash, ash insoluble in HC1 and water soluble extract and hence the sample was adulterated. His findings on these matters are thus :Total ash determined on tea drired to a ... 8.21%constant weight at 100C.Ash ...
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