Kolkata Court August 1993 Judgments
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Commissioner of Income-tax Vs. Eastern Investments Ltd.
Court: Kolkata
Decided on: Aug-04-1993
Reported in: [1995]213ITR334(Cal)
Ajit K. Sengupta, J.1. In this reference under Section 256 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 was correct in law in holding that interest on debentures did not accrue or become due during the relevant accounting year and, therefore, it was not assessable in the assessment year 1983-84 ?'2. Briefly stated the relevant facts of the case are that during the course of assessment proceedings, the Assessing Officer found that the assessee had not disclosed income on account of interest on debentures of Messrs. Bird and Co., and Messrs, Kumardhubi Engg. Works Ltd. although it was found that in the assessment orders for the earlier years such interest on debentures was taken on due or accrual basis. The explanation furnished by the assessee that it had lodged its claim with the prescribed authorities and as on the last date of the a...
Balaji International Vs. Collector of Customs
Court: Kolkata
Decided on: Aug-04-1993
Reported in: 1994(70)ELT203(Cal)
Ruma Pal, J.1. This is an application, filed by the respondent No. 3, formodification of an order, passed by this Court on 30th June, 1993. The ordersought to be modified was passed at the suggestion of the parties and providedfor release of the goods imported by the writ petitioners subject to the writpetitioners making payment of the admitted Duty, further payment of 20% ofthe difference of Duty as provisionally fixed and the admitted Duty in cash andexecuting a P.D. Bond in terms of the Provisional Assessment Rules. Uponcompliance of these conditions the goods were to be released to the writpetitioners within 72 hours. Directions were also given for participation in theadjudication proceedings before the Customs Authorities.2. The goods in question were Fax Machines which had arrived at thePort of Calcutta in July, 1992. On 12th August, 1992 the goods were seizedunder Section 110 of the Customs Act, 1962 (hereinafter referred to as 'the saidAct'). It is undisputed that the writ peti...
Sudha Commercial Co. Ltd. Vs. Assistant Commissioner of
Court: Income Tax Appellate Tribunal ITAT Kolkata
Decided on: Aug-03-1993
Reported in: (1993)47ITD413(Kol.)
1. These appeals by the assessee pertain to the assessment years 1986-87 and 1987-88. The assessee is a company dealing in shares.During the accounting years ended 31-3-1986 and 31-3-1987, the company sold shares to the extent of Rs. 43,55,683 and Rs. 1,22,44,509 respectively. In the profit and loss accounts for these years, the opening stock and purchase on shares were brought to the debit side and the sales and closing stock were brought to the credit side of the profit and loss accounts. The net profit as per profit and loss account was Rs. 9,40,871 and Rs. 4,88,874 respectively. The computation of the total income starts from its figures in the assessment orders. The dividends of Rs. 1,68,400 and Rs. 2,83,312 were excluded from the business income and brought to tax under the head 'Other sources'.While so doing, the Income-tax Officer estimated that an amount of Rs. 25,000 for the assessment year 1986-87 and Rs. 50,000 for the assessment year 1987-88 was referable to the earning o...
Board of Trustees, Port of Calcutta Vs. Haldia-calcutta Port and Dock ...
Court: Kolkata
Decided on: Aug-03-1993
Reported in: (1994)1CALLT367(HC),(1994)IILLJ575Cal
A.M. Bhattacharjee, C.J. 1. I have gone through the judgment prepared by Bataybal, J. appearing hereinafter. For the reasons stated in the judgement, I agree that the appeals are to be allowed and the writ petition giving rise to these two appeals is to be dismissed.2. The right to form association or union is a fundamental right guaranteed by Article 19(1)(c) of the Constitution. If the union is a union of workers, a recognition of the union by the employers would obviously facilitate the activities of such a trade union. But every activity which facilitates the exercise of a fundamental right specifically guaranteed by the Constitution is not necessarily comprehended in that fundamental right. Even if it appears that a given fundamental right may not be fully exercised without some further or additional right, such further or additional right cannot as a matter of course be ragarded as part of the guaranteed fundamental right. The test to be applied is, whether the right claimed is a...
Commissioner of Income-tax Vs. Usha Telehoist Ltd.
Court: Kolkata
Decided on: Aug-02-1993
Reported in: [1995]212ITR177(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 has been raised before this court :'Whether, on the facts and in the circumstances of the case, when according to the finding of the Commissioner in his order, the commission of Rs. 2,50,587 was sales commission simpliciter, the Tribunal was justified in law in holding that relief under Section 35B(1)(b)(iv) of the Income-tax Act, 1961, is allowable on the same and thereby vacating that portion of the order of the Commissioner ?'2. Shortly stated the facts are that originally the Assessing Officer allowed deduction under Section 35B(1)(b)(iv) of the Act on the commission of Rs. 2,50,587 paid to the foreign agents.3. Subsequently, the said assessment was set aside by the Commissioner of Income-tax, West Bengal-1, Calcutta, vide his order under Section 263 of the Act, since it was viewed by him that the commission paid to foreignagents did not...
Commissioner of Income Tax Vs. Satya Co. Ltd.
Court: Kolkata
Decided on: Aug-02-1993
Reported in: (1997)140CTR(Cal)569
AJIT K. SENGUPTA, J. :In this reference under s. 256(2) of the IT Act, 1961 (the Act) made at the instance of the Revenue the following questions have been referred by the Tribunal for the opinion of this Court :Asst. yrs. 1982-83 & 1983-84 :'1. Whether, on the facts and in the circumstances of the case, the Tribunal was justified in upholding the direction of the CIT(A) to adopt the annual value of the house property at 10, Sarat Chatterjee Avenue, Calcutta-29, taking the principal valuation and adding 1/9th of it ?2. Whether, on the facts and in the circumstances of the case, the Tribunal was justified in ignoring the concrete evidence of tenancy in adjoining flat and relying on the municipal valuation for determination of annual value ?'Asst. yrs. 1984-85 & 1985-86 :'3. Whether, on the facts and in the circumstances of the case, the Tribunal was justified in upholding the direction of the CIT(A) to adopt the annual value of the house property at 10, Sarat Chatterjee Avenue, Calcutta...
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