Kolkata Court August 2011 Judgments
Duncans Industries Limited Vs. Commissioner of Income Tax, W.B.
Court: Kolkata
Decided on: Aug-12-2011
1. This appeal under Section 260A of the Income-tax Act, 1961 is at the instance of an assessee and is directed against an order dated 23rd June, 2004, passed by the Income-tax Appellate Tribunal, “C” Bench, Kolkata in Income-tax Appeal bearing ITA No.1220 (Kol) of 1997 for the Assessment Year 1991-92 and thereby dismissing the appeal filed by the assessee. 2. Being dissatisfied, the assessee has come up with the present appeal. The facts giving rise to filing of the appeal may be summed up thus: a) The assessee is a public limited liability company within the meaning of the Companies Act, 1956 and the present appeal arises out of the assessment made under the Income-tax Act, for the Assessment Year 1991-92 for which the relevant previous year was the financial year ended on March 31, 1991. The assessee was amalgamated with M/s. Chand Chhap Fertilizers and Chemicals Limited with effect from January 01, 1994 pursuant to an order dated September 13, 1994 passed by this Court....
Tag this Judgment!Ms. Bee Pee Jay Finance Ltd. Vs. Commissioner of Income Tax, Central a ...
Court: Kolkata
Decided on: Aug-12-2011
1. This appeal under Section 260A of the Income-tax (“Act”), 1961 is at the instance of an assessee and is directed against an order dated 16th July, 2003, passed by the Income-tax Appellate Tribunal, “A” Bench, Kolkata, in ITA No.2567/Kol of 2002 for the Assessment Year 1999-2000. 2. A Division Bench of this Court while admitting this appeal on January 12, 2004 formulated the following substantial question of law: “Whether on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the assessee was liable to pay interest u/s. 234B and 234C of the Income Tax Act on the tax payable on the book profit computed u/s 115J of the Act notwithstanding the fact that it was a deemed profit.” 3. It appears that the aforesaid question has recently been answered by a Three-Judge-Bench of the Supreme Court in the case of Joint Commissioner of Income-tax vs. Rolta India Ltd., reported in [2011] 330 ITR 470 (SC) in the affirmativ...
Tag this Judgment!Status Home and Enclaves (P) Ltd. Vs. Commissioner of Income Tax, West ...
Court: Kolkata
Decided on: Aug-12-2011
1. This appeal under Section 260A of the Income-tax Act, 1961 is at the instance of an assessee, and is directed against an order dated June 13, 2003 passed by the Income-tax Appellate Tribunal, “B” Bench, Kolkata, in Income-tax (SS) Appeal No.36 (Kol) of 2000 for the Block Period from 1992-93 to 1997-98 and thereby dismissing the appeal preferred by the assessee. 2. Being dissatisfied, the assessee has come up with the present appeal. The facts giving rise to filing of this appeal may be summed up thus: a) The appellant is a private limited company within the meaning of the Companies Act, 1956 and is assessed to tax under the Income-tax Act. The present appeal arises out of the appellant’s assessment for the block period from 1992-93 to 1997-98. b) The appellant was incorporated with the object of, inter alia, doing real estate business. According to the appellant, the first project undertaken by the appellant was at ‘L’ Road, Jamshedpur and from time to ...
Tag this Judgment!Bimal Kumar Parasramka and ors. Vs. Rajendra Prasad Agarwalla and ors.
Court: Kolkata
Decided on: Aug-12-2011
1. This appeal filed by the plaintiff and a cross-objection filed by the defendants therein were taken up together and we propose to deliver a common judgment disposing of both the appeal and the cross-objection. This appeal is at the instance of the plaintiff in a suit for declaration and permanent injunction and is directed against an order dated 22nd June, 2011 passed by a learned Single Judge of this Court by which His Lordship passed direction for filing affidavits on an application of the plaintiff for interlocutory reliefs and granted an ad interim order of injunction in favour of the plaintiff thereby restraining the defendant from surrendering possession in respect of the cold storage involved in the suit in favour of the any person or otherwise creating any third party’s right in respect thereof without the previous leave of the Court. The learned Single Judge refused to grant further interim relief claimed by the plaintiff for appointment of a receiver. 2. Being dissat...
Tag this Judgment!Ms. Peico Electronics and Electricals Limited (Now Known as Philips In ...
Court: Kolkata
Decided on: Aug-12-2011
1. This appeal under Section 260A of the Income-tax Act, 1961 is at the instance of an assessee and is directed against order dated 30th January, 2004, passed by the Income-tax Appellate Tribunal, “D” Bench, Kolkata, in ITA No.1629/Kol/2001 relating to the Assessment Year 1990-91 allowing the appeal filed by the Revenue. 2. Being dissatisfied, the assessee has come up with the present appeal. The facts giving rise to filing of this appeal may be summed up thus: a) With the return of income filed by the appellant, a computation under Section 115J of the Act was furnished wherein an adjustment as contemplated in Item No. (iv) of Explanation to Section 115J(1A) was claimed by the assessee to the extent of an amount of Rs.13,85,66,479/- to reduce the adjusted book profit shown at Rs.4,57,78,389/- and in this way, the assessee had arrived at the book profit to nil. b) According to the assessee, there was no tax liability under Section 115J of the Act. However, the claim of adjus...
Tag this Judgment!Nurun Nahar (Deceased) and Seikh Abdus Sadek Vs. Sk. Abdul Rasool and ...
Court: Kolkata
Decided on: Aug-12-2011
1. This appeal is at the instance of an applicant for grant of probate of a Will executed by a Mohammedan testatrix and is directed against the order dated April 21, 2011 passed by a learned Single Judge of this Court and thereby dismissing the application for grant of probate, not on merit, but on the ground that the Executor had alternative remedy of institution of a suit for getting the same relief, as the mandatory requirement of obtaining a probate was not necessary in case of a Will left by a Mohammedan testatrix as provided in Section 231(2) of the Indian Succession Act, 1925. 2. Being dissatisfied, the Executor has come up with the present appeal. 3. Therefore, the only question that arises for determination in this appeal is whether notwithstanding the fact that the Indian Succession Act has excluded its operation in case of the grant of probate executed by a Mohammedan testatrix, the learned Single Judge refused to exercise jurisdiction vested in His Lordship by law by not en...
Tag this Judgment!Jai Mica Supply Co. Pvt. Ltd. Vs. Commissioner of Income Tax, West Ben ...
Court: Kolkata
Decided on: Aug-12-2011
1. This appeal under Section 260A of the Income-tax Act, 1961 (“Act”) is at the instance of an assessee and is directed against an order dated April 7, 2003 passed by the Income-tax Appellate Tribunal, “B” Bench, Kolkata in ITA No.698/Cal/1995 for the Assessment Year 1990-91 and thereby dismissing the appeal filed by the appellant. 2. Being dissatisfied, the assessee has come up with the present appeal. The facts giving rise to filing of the present appeal may be summarized thus: a) The appellant is a private liability company within the meaning of the Companies Act, 1956 and is regularly assessed to tax under the Income-tax Act, 1961 and the present appeal arises out of the assessment of the appellant for the Assessment Year 1990-91 for which the relevant previous year was the financial year ending on March 31, 1990. b) The appellant carries on business of manufacturing various Mica products from raw mica obtained from mines. c) Mica obtained from the mines is ...
Tag this Judgment!Surajmall Lalchand and Sons Vs. Assistant Commissioner of Income Tax C ...
Court: Kolkata
Decided on: Aug-12-2011
1. This appeal under Section 260A of the Income-tax Act, 1961 is at the instance of an assessee and is directed against order dated 22nd August, 2002, passed by the Income-tax Appellate Tribunal, “B” Bench, Kolkata, in Income-tax Appeal No.1036 (Cal) of 1997 for the Assessment Year 1993-94 and thereby partly allowing the appeal filed by the Revenue. 2. Being dissatisfied, the assessee has come up with the present appeal. The facts giving rise to filing of this appeal may be summed up thus: a) The appellant is a registered Partnership Firm carrying on business of giving loans and advances and the present appeal arises out of assessment for the Assessment Year 1993-94, of which the Previous Year ended on 31st March, 1993. b) For the Assessment Year under consideration, the appellant filed a return of income on 3rd February, 1994 disclosing the total income of Rs.1,41,540/-. The return was processed under Section 143(1) (a) of the Act and notice was issued under Section 143(2)...
Tag this Judgment!Ms. Dheeraj Construction and Industries Ltd. Vs. Commissioner of Incom ...
Court: Kolkata
Decided on: Aug-11-2011
1. This is an application for review of an order dated 1st July, 2011 passed by this Bench in I.T.A. No.218 of 2001 by which this Bench disposed of an appeal under Section 260A of the Income-tax Act filed by the assessee against an order dated March 30, 2001 passed by the Income-tax Appellate Tribunal in Income- tax Appeal bearing IT (SS) A No.69/(Cal) of 1997 for the block-period between April 1, 1985 and February 12, 1996. 2. The main point involved in the aforesaid appeal was whether the addition of Rs.39,78,315/- and a further sum of Rs.20 lac based on alleged bogus purchase could be made in block assessment notwithstanding the fact that those findings were based on no material recovered from search and seizure. 3. This Court held that the aforesaid findings were not based on any material unearthed on search and seizure and thus, was not liable to be assessed on the block assessment under Chapter XIVB of the Income-tax Act but should be subject to regular assessment. 4. We arrived ...
Tag this Judgment!Birla Corporation Ltd. Vs. Birla Education Trust and ors.
Court: Kolkata
Decided on: Aug-04-2011
1. In these two appeals, under challenge is an order of the Company Law Board, Principal Bench dated 11 July 2011. This order was passed in an interlocutory proceeding registered as C.A. no. 332 of 2011 arising out of a company petition, being C.P. No. 01 of 2010. Another application, registered as C.A. No.338 of 2011, taken out by the Birla Corporation Limited and the appellants in ACO No.82 of 2011 (the company), seeking dismissal of the said interlocutory application was also considered in the said order and direction for affidavits has been given in that application. The company petition was filed by the respondent no. 1 to 6 representing more than 10% shareholders of the company alleging mismanagement and oppression in the respondent company. This petition was filed under the provisions of Sections 235, 237, 247, 250, 397, 398 and 402 of the Companies Act. Earlier, two other orders were passed by the Company Law Board (CLB) in different interlocutory proceedings arising out of the...
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