Kolkata Court July 2002 Judgments

Paharpur Cooling Towers Ltd. Vs. Dy. Cit

Court: Income Tax Appellate Tribunal ITAT Kolkata

Reported in: (2003)85ITD745(Kol.)

These two appeals, filed by the assessee, are directed against two separate orders-both dated 15-12-1997-passed by the learned Commissioner (Appeals) XI, Calcutta, and, as a matter of convenience, these appeals are being disposed of by way of this consolidated order.We will first take up ITA No. 313/Cal./98 i.e. assessees appeal for the assessment year 1994-95.In first ground of appeal, the assessee is aggrieved of Commissioner (Appeals)s confirming the loss from purchase and sale of shares and securities of Rs. 1,41,60,772 as speculation loss as per Explanation to section 73, of the Income Tax Act, 1961 (hereinafter referred to as the Act).Briefly, the facts. During the course of assessment proceedings, assessing officer noticed that in the relevant previous year the assessee has sold some shares which were held by it as stock in trade and that the assessee incurred loss of Rs. 1,41,60,772 on such transactions. It is also an admitted position that main source of income for the assess...

Paharpur Cooling Towers Ltd. Vs. Deputy Commissioner of

Court: Income Tax Appellate Tribunal ITAT Kolkata

1. These two appeals, filed by the assessee, are directed against two separate orders - both dated 15-12-1997 - passed by the learned CIT(A) XI, Calcutta, and, as a matter of convenience, these appeals are being disposed of by way of this consolidated order.2. We will first take up ITA No. 313/Cal./98 i.e. assessee's appeal for the assessment year 1994-95.3. In first ground of appeal, the assessee is aggrieved of CIT(A)'s confirming 'the loss from purchase and sale of shares and securities of Rs. 1,41,60,772 as speculation loss as per Explanation to Section 73' of the Income-tax Act, 1961 (hereinafter referred to as 'the Act').4. Briefly, the facts. During the course of assessment proceedings, Assessing Officer noticed that in the relevant previous year 'the assessee has sold some shares which were held by it as stock in trade' and that the assessee incurred loss of Rs. 1,41,60,772 on such transactions. It is also an admitted position that main source of income for the assessee was un...

State Bank of India Vs. Madhumita Construction (Pvt.) Ltd. and ors.

Court: Kolkata

Reported in: AIR2003Cal7,II(2003)BC610

ORDERD.K. Seth, J.1. Plaintiff has made this application for : (i) appointment of receiver in respect of the assets and properties, books of accounts and records of the respondents No. 1 to 52 including movable assets with appropriate directions; (ii) injunction restraining the respondents No. 1 to 52 from disposing of or parting with possession, transfer, encumbering or dealing with their assets, profits including those mentioned in Annexure 'G' to the plaint without making the payments due to the plaintiff/petitioner; (iii) decree on admission against the respective respondents mentioned in prayer (d) and for consequential reliefs; (iv) filing of affidavits, directing disclosure of the amount received by the said respondents from different branches; (v) injunction restraining the respondents No. 53 to 57 from demanding any money from the petitioner in relation to the alleged void Letters of Credits (LCs) purported to have been negotiated by them through unjustified and fraudulent tra...

Employees' State Insurance Corporation Vs. Abdus Salam and Ors.

Court: Kolkata

Reported in: [2003(96)FLR129],(2003)ILLJ765Cal

A.K. Basu, J.1. Despite service of notice, none appears for the opposite parties to contest this application. The affidavit of service filed today be kept with the record.2. By this application under Article 227 of the Constitution, the petitioner Employees' State Insurance Corporation has challenged the order of the learned Judge, Employees' Insurance Court, West Bengal dated November 8, 2000 passed in connection with the Case No. 98/1996.3. Shorn of unnecessary detail the relevant fact behind filing of the present application is that the respondent No. 1 was an employee under respondent No. 2 and that on April 22, 1995, that respondent No. 1 came to resume his duty after a gap of almost four years and at that point of time in spite of his producing fitness certificate, the incharge of the Department did not allow the said respondent to resume his duty and at that point of time, the said respondent had an accidental fall resulting in injury for which he subsequently claimed benefit as...

Deep Narayan Singh and ors. Vs. Sarjan Singh and ors.

Court: Kolkata

Reported in: (2002)3CALLT239(HC),2002(3)CHN364

D.K. Seth, J.1. This appeal arises out of the judgment and decree dated 26th July, 1994 passed by the learned Judge, Second Bench, City Civil Court, Calcutta, in Title Suit No. 1299 of 1985 for partition. The suit was decreed against which the defendants have come up in appeal. The suit related to a business, which was claimed by the plaintiff to be a joint business. The plaintiff's case, inter alia, was that the origin of the business was a medicine shop carried on by Pujan Singh, since deceased, stepbrother of the plaintiff's and the defendants in the present suit, through the first wife of their father. After the death of said Pujan Singh, the three stepbrothers inherited the said business and the tenancy right. The plaintiff's and the appellant Ram Narayan Singh became seized and possessed of the said business after the death of the said Pujan Singh. But through cunning maneuver Ram Narayan managed to run the business solely. However, the plaintiff's had still access in the shop wh...

The Managing Committee of Barisha Girls' High School and Smt. Kasturi ...

Court: Kolkata

Reported in: (2003)2CALLT1(HC)

A.K. Mathur, C.J. 1. All these three appeals arise out of the same judgment and order dated 17th August, 2000. Therefore, they are being disposed of by a common judgment. 2. The brief facts which are necessary for disposal of these appeal are that in pursuance of selection to the post of assistant English Teacher in Barisha Girls' High School (hereinafter referred to as school) a panel was prepared of three persons, namely, (1) Smt. Susmita Das; (2) Smt. Smritikana Biswas (writ petitioner) and (3) Smt. Kasturi Chatterjee (added respondent), Smt. Susmita Das stood first, Smt. Smritikana Biswas stood second and Smt. Kasturi Chatterjee stood third in the panel./ Smt. Biswas filed a writ petition being W.P. No. 13517 (W) of 1997 and alleged that she stood second in the panel of the selected candidates and she was interested to join this post as the present place in which she is working, that is in Baduria Kadambini Girls' High School, Baduria, is 90 kilometers away from the place of her re...

Commissioner of Wealth-tax Vs. Bajoria Properties Pvt. Ltd.

Court: Kolkata

Reported in: [2002]258ITR29(Cal)

Maharaj Sinha, J.1. This is a wealth-tax matter and the only question which has come up for answer at the instance of the Revenue, is as follows : 'Whether, on the facts and in the circumstances of the case, the Tribunal was justified in directing the Assessing Officer to allow the sum of Rs. 50 lakhs received as advance sale consideration in terms of the agreement dated September 22, 1986, as debt owed in computing the net wealth under Section 40(2) of the Finance Act, 1983 ?'2. The undisputed facts of this case are as follows :The assessee is a private limited company and is the owner of a property being 3, Alipore Road, Calcutta.3. On September 22, 1986, the said company entered into an agreement with one Satyam Properties and Finance Private Limited for sale of the said property, at Alipore, for a consideration of Rs. 3 crores. Out of the said amount of Rs. 3 crores, Rs. 50 lakhs was paid during the year ended on March 31, 1987. The intending purchaser, however, obtained possession...

Rashbehari Karmakar Vs. Indrajit Mukherjee and anr.

Court: Kolkata

Reported in: (2003)2CALLT293(HC),2002CriLJ4250

P.K. Biswas, J.1. This is an application under Section 439(2) read with Section 482 of the Criminal Procedure Code praying for cancellation of the Bail granted by the learned Sessions Judge, Burdwan in Criminal Miscellaneous Case No. 3097 of 1997 confirming an interim bail dated 23.12.97 granted earlier by the learned Sessions Judge, Burdwan to the opposite party No. 1, Sri Indrajit Mukherjee in connection with Kalna P.S. Case No. 145 of 1995 corresponding to G.R. Case No. 294 of 1994 pending before learned SDJM, Kalna, Burdwan under Sections 326/307/120B/ 201 of the Indian Penal Code.2. The facts leading to the filing of the present application may be summarised as follows: 3. Sri Gurudas Halder, an active member of the State Government Employees' Federation, West Bengal was having a dispute with his landlord. S.I., Sri Tapan Choubey attached to the Kalna P.S., sided with the aforesaid landlord and in order to teach a lesson to Sri Balder, he was taken into custody and was placed in t...

Cwt Vs. Bajoria Properties (P) Ltd.

Court: Kolkata

Reported in: (2002)177CTR(Cal)343

Ajoy Nath Ray, J.This is a wealth-tax matter and the only question which has come up for answer at the instance of the revenue, is as follows :'Whether, on the facts and in the circumstances of the case, the Tribunal was justified in directing the assessing officer to allow the sum of Rs. 50 lakhs received as advance sale consideration in terms of agreement dated 22-9-1986, as debt owed in computing the net wealth under section 40(2) of the Finance Act, 1983 ?'2. The undisputed facts of this case are as follows :The assessee is a private limited company and is the owner of a property being 3, Alipore Road, Calcutta.On 22-9-1986, the said company entered into an agreement with one Satyam Properties and Finance (P) Ltd. for sale of the said property, at Alipore, at a consideration of Rs. 3 crores. Out of the said amount of Rs. 3 crores Rs. 50 lakhs was paid during the year ended on 31-3-1987. The intending purchaser, however, obtained the possession of the land for the purpose of constru...

Murari Ganguly and ors. Vs. Kanailal Garai and ors.

Court: Kolkata

Reported in: AIR2003Cal105

Arun Kumar Mitra, J. 1. The suit being title suit No. 282/1974 for recovery of possession from trespassers, permanent and mandatory injunction and damages was decreed on contest with cost against the defendant Nos. 1 to 3 and ex parte without costs against the defendant No. 4.2. One Jugal Kishore Ghosh was the owner of the disputed lands described in the schedule of the plaint measuring about 41 Decimals of area. The said land was duly retained by the said Jugal Kishore Ghose under Section 6(1) of West Bengal Estates Acquisition Act, 1953.3. The said Jugal Kishore, a Hindu governed by the Dayabaga School of Law died intestate on 8th Agrahayan, 1376 B.S. leaving behind his widow Smt. Radha Bonodini Ghose and three daughters namely Smt. Panchubala Ghose, wife of late Sridhar Chandra Ghosh, Sm. Sandhya Rani Ghosh wife of Shri Gobardhan Ghosh and Sm. Anandamoyee Konar wife of late Bishnupada Konar as his heirs and legal representatives. After the death of the said Jugal Ghose, each of his ...