Kolkata Court August 1996 Judgments
Pradeep Kumar Lodha Vs. the Institute of Chartered Accountants of Indi ...
Court: Kolkata
Decided on: Aug-29-1996
Reported in: AIR1997Cal113
ORDERVisheshwar Nath Khare, C. J. 1. This appeal under Section 22A of the Chartered Accountants Act, 1949, (hereinafter referred to as the Act) is directed againstthe decision taken at the 178th meeting of the Council of the Institute of The Chartered Accountants of India held on 6th, 7th and 8th Dec. 1995, and communicated by its letter dated Feb. 16, 1995, removing the name of the appellant from the Register of the members for a period of one month.2. The appellant before us is a practicising Chartered Accountant and carrying on his profession under the name and style of Kumar Pradeep and Company having his registered office at 62/1/A, Netaji Subhas Road, Calcutta. The appellant alleges that one Shri Shayam Sunder Gupta being satisfied with his professional work was anxious to propose his name for being appointed as Auditor in some of the companies in which the said Shyam Sundar Gupta held shares. It is further alleged that Shyam Sundar Gupta approached the appellant to ascertain as ...
Tag this Judgment!Commissioner of Wealth-tax Vs. Karan Thapar
Court: Kolkata
Decided on: Aug-29-1996
Reported in: [1997]223ITR531(Cal)
Visheshwar Nath Khare, C.J.1. By this reference at the instance of the Commissioner of Wealth-tax (Central-IX), Calcutta, the following questions have been referred by the Tribunal to this court for answer under Section 27(1) of the Wealth-tax Act, 1957 : ' (1) Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that for computing the average book profits of the company in which the assessee held shares on the relevant valuation date, the profits of five completed years immediately preceding the valuation date, should be taken into account when the Tribunal itself in W. T. As. Nos. 554, 555 and 556/(Cal) of 1980, in the case of Manmohan Thapar, dated 28th February, 1992, held that the profit of the accounting period ending with the valuation date is to be included for finding out the average profit for this purpose ?(2) Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the five year period as...
Tag this Judgment!Bangalaxmi Hosiery Mills P. Ltd. Vs. Union of India (Uoi)
Court: Kolkata
Decided on: Aug-29-1996
Reported in: 1997(94)ELT42(Cal)
Tarun Chatterjee, J.1. In this writ application the writ petitioner has come up to this Court for a declaration that, the Textile Committee Act, 1963 is not applicable to the writ petitioner No. 1 and also for setting aside the notice dated 8th December, 1995 being Annexure 'D' to the writ petition and the notice dated 9th January, 1996, 1st February, 1996 and 1st March, 1996 being collectively annexed as Annexure 'F' to the writ application and also for other incidental reliefs. The notices which have been challenged in this writ application have been annexed at pages 41 to 45 of the writ application. It appears from a reading of the said demand notices that the authorities have computed a net amount payable as cess by the writ petitioners for the years 4/1975 to 12/1979 a sum of Rs. 13,533.15p. and in respect of years 1/1980 to 12/1982 a sum of Rs. 14,227.20p., in respect of years 1/1983 to 3/1990 a sum of Rs. 78,234.05 p., in respect of years 4/1990 to 3/1993 a sum of Rs. 54,348.35p...
Tag this Judgment!Nathmal Girdharilall Steels Ltd. Vs. Commissioner of Customs
Court: Kolkata
Decided on: Aug-29-1996
Reported in: 1997(93)ELT682(Cal)
Tarun Chatterjee, J.1. In or about March, 1993 the writ petitioners in the name of 'Nathmal Girdharilall' participated in the sale of various items conducted by the Customs authorities after taking inspection of various materials under different items including 300 MT M.S. Angles under Item No. 392 lying at 3 and 4 Garden Reach Jetty (in short called G.R.J.). At the auction the offer of the writ petitioner for various items under lot numbers 369,371,377,378, 382,389, 391 and 392 were accepted by the Customs Authorities as the highest one. There is no dispute in respect of other lots excepting the lot No. 393. In respect of lot No. 393 a sum of Rs. 1.62 per kg. was accepted by the Customs authorities. Consideration was paid in full but because of an interim order passed by this Court in the writ jurisdiction the delivery could not be made.2. A writ application was moved in respect of the aforesaid lot including lots mentioned hereinabove on the ground that although the offer had been ac...
Tag this Judgment!Azimganj Estates Pvt. Ltd. Vs. Deputy Commissioner of Wealth Tax
Court: Income Tax Appellate Tribunal ITAT Kolkata
Decided on: Aug-28-1996
Reported in: (1997)60ITD348(Kol.)
1. This appeal by the assessee for the asst. yr. 1990-91 is directed against the order of the CWT(A)-II, Calcutta, dt. 10th Feb., 1995, whereby he partly allowing the assessee's appeal upheld the WTO's order in bringing within the ambit of WT Act the flat owned by the appellant-company.2. Shortly stated the facts leading to this appeal are that the assessee-appellant, being a private limited company, is a property developer. It is also alleged by the assessee that the flats developed by the assessee are meant for sale and till a suitable purchaser is available, the assessee temporarily lets out the flats on rent with a view to defray the interest on borrowings. The WTO had brought to tax the let out portion of the assessee's building situated at Camac Street, being 1282.66 sq. m., and also 940 sq. m. out of 1440 sq. m.being the portion of the assessee's own office use in Camac Street building together with the incomplete portions of the assessee's three buildings situated at Camac Str...
Tag this Judgment!Sunil Kumar Mondal Vs. Abdul Wadood and ors.
Court: Kolkata
Decided on: Aug-28-1996
Reported in: (1997)1CALLT202(HC)
Nripendra Kumar Bhattacharyya, J.1. The present revision under Article 227 of the Constitution of India is directed against the Judgment and/or order dated 17th December, 1994 passed in Civil Revision No. 177 of 94 by the learned Additional District Judge, 8th court, Alipore, 24 Parganas (South) whereby the learned Additional District Judge allowed the revision preferred by the defendants and set aside the order of the learned Additional Munsif, 1st court, Alipore dated 22nd April, 1994 passed in Title Suit No. 1 of 1993. 2. The brief background of the case is that in a suit for eviction of the tenant Md. Khalil, by the plaintiffs on the ground of default, subletting nuisance and reasonable requirement. The death of the tenant, Md. Khalil, took place on 22nd June, 1975. Upon his death his legal heirs were substituted including defendant No. 7, Md. Habib in the trial court. The legal heirs of deceased Md. Khalil filed a written statement. Thereafter Md. Habib died on 16-3-82 and the pla...
Tag this Judgment!Sanatan Biswas Vs. State of West Bengal and ors.
Court: Kolkata
Decided on: Aug-28-1996
Reported in: (1997)1CALLT208(HC)
Bijitendra Mohan Mitra, J. 1. In this writ application a writ of Mandamus is being prayed for recording the name of the petitioner as Bargadar in respect of the land in question. This case has a background which is different from ordinary case and it apparently appears to be outside the pale of the ambit of the relationship of owner and Bargadar which is a relationship in terms of the statute between private individuals. Here, in this case, the interesting departure from the usual practice is that a Deed of Indenture was entered in between the State of West Bengal as a Donor and the other party figuring in the said Deed of Instrument executed in the month of November, 1990 as a Donee. The gift made by the State is for rehabilitation of the refugees from Bangladesh and the said gift is subject to stipulation of the embargo whereby the Donee would not be entitled to alienate or transfer in any way the land in question. The spirit of the execution of the said Deed of Indenture of Gift is ...
Tag this Judgment!Azimganj Estates Pvt. Ltd. Vs. Deputy Commissioner of Wealth Tax.
Court: Kolkata
Decided on: Aug-28-1996
Reported in: (1997)57TTJ(Cal)328
ORDERS. R. CHAUHAN, J. M. :This appeal by the assessee for the asst. yr. 1990-91 is directed against the order of the CWT(A)-II, Calcutta, dt. 10th Feb., 1995, whereby he partly allowing the assessees appeal upheld the WTOs order in bringing within the ambit of WT Act the flat owned by the appellant-company.2. Shortly stated the facts leading to this appeal are that the assessee-appellant, being a private limited company, is a property developer. It is also alleged by the assessee that the flats developed by the assessee are meant for sale and till a suitable purchaser is available, the assessee temporarily lets out the flats on rent with a view to defray the interest on borrowings. The WTO had brought to tax the let out portion of the assessees building situated at Camac Street, being 1282.66 sq. m., and also 940 sq. m. out of 1440 sq. m. being the portion of the assessees own office use in Camac Street building together with the incomplete portions of the assessees three buildings si...
Tag this Judgment!United Credit Limited Vs. Assistant Commissioner of Income
Court: Income Tax Appellate Tribunal ITAT Kolkata
Decided on: Aug-27-1996
Reported in: (1997)60ITD367(Kol.)
1. In these appeals by the assessee the only question is whether the departmental authorities were justified in making additions of Rs. 44,90,434 and Rs. 25,42,968 on account of interest accrued to the assessee.2. The appeals arise this way. The assessee is a public limited company. It was registered in the year 1970 to carry on the business of merchant-cum-development banking in all its aspects. The company could not, however, undertake development banking for want of resources and had to confine its activities to merchant banking with industrial consultancy. In the year 1980, a special resolution was passed in the annual general metering of the company to change the main object to include financial consultancy, computerised data processing, housing finance, hire - purchase and equipment leasing, export and import finance, etc. In pursuance of the new object the company utilised its funds more towards housing finance besides also utilising them in the field of equipment leasing and c...
Tag this Judgment!Nav Bharat Vanijya Ltd. Vs. Commissioner of Income-tax
Court: Kolkata
Decided on: Aug-27-1996
Reported in: [1997]226ITR537(Cal)
Visheshwar Nath Khare, C.J.1. These two references under Section 256(1) of the Income-tax Act, 1961, one at the instance of Nav Bharat Vanijya Limited, the assessee, being Income-tax Reference No. 187 of 1992, and the other at the instance of the Commissioner of Income-tax, Central-1, Calcutta, being Income-tax Reference No. 44 of 1993, raise a common question of law and as such we propose to decide both the references together.2. In Reference No. 187 of 1992, the assessment year involved is the assessment year 1980-81. For the said assessment year, the assessee claims Rs. 3,87,464 as deduction under Section 80K of the Income-tax Act being 100 per cent. of the dividend received from Straw Products Ltd. The claim has been made by the assessee on the basis of the provisional certificate granted by the Assessing Officer under Section 197(3) dated July 14, 1978, for the year ending December 31, 1977. Since the assessment in the case of Straw Products Ltd. was completed, the Assessing Offic...
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