Mumbai Court February 1993 Judgments
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Commissioner of Income-tax Vs. Gordhandas Vallabhdas Kapadia and Other ...
Court: Mumbai
Decided on: Feb-10-1993
Reported in: [1993]204ITR272(Bom)
U.T. Shah J.1. In this consolidated reference made by the Income-tax Appellate Tribunal ('the Tribunal') two issues are involved, namely, (i) whether the entire property of the bigger Hindu undivided family was partitioned amongst the seven smaller assessee Hindu undivided families, and (ii) whether the assessee-Hindu undivided families are entitled to benefit under section 54 of the Income-tax Act, 1961 ('the Act'). 2. This reference relates to the assessment years 1971-72 and 1972-73. There was a bigger Hindu undivided family of one Shri Vallabhdas Chaturbhuj Kapadia, having a property on Walkeshwar Road. The karta of that bigger Hindu undivided family Vallabhdas died some time in 1945 leaving behind his widow, one son, Gordhandas, and three daughters. The widow died some time in April, 1966. During her lifetime, she along with her son, Gordhandas, lived in the said Walkeshwar property. Gordhandas had six sons, Vijay, Krishna, Pratap, Rajesh, Dalip and Ravindra. On the death of the w...
National Organic Chemical Industrial Ltd. Vs. Commissioner of Income-t ...
Court: Mumbai
Decided on: Feb-10-1993
Reported in: (1993)115CTR(Bom)434; [1993]203ITR410(Bom)
Mrs. Sujata Manohar, J. 1. The assessee-company is a chemical manufacturing concern which manufactures petrochemicals under technical and financial agreements with foreign collaborators. The petro-chemical complex of the assessee-company consists of several plants which have been completed stage by stage from time to time. 2. The assessment year concerned is 1971-72 for which the previous year is the calendar year 1970. During the previous year, the assessee constructed a jetty at Shahbag in Thane District in the Panvel Creek. The jetty was for the purpose of handing storage and transportation of materials manufactured or handled by the assessee or its agents. The assessee incurred an expenditure of Rs. 6,41,193 for the purpose of construction of this jetty in the relevant previous year. The jetty was constructed under a licence granted to the assessee by the Government of Maharashtra. Under the terms of the agreement, the property in the jetty was always to be that of the Government o...
ici India Ltd. Vs. Presiding Officer and Others
Court: Mumbai
Decided on: Feb-10-1993
Reported in: 1993(3)BomCR387; (1993)IILLJ568Bom
1. These are two writ petitions under Article 226 of the Constitution of India filed by the employer and the workmen respectively, challenging the Award of the National Industrial Tribunal dated April 8, 1991 made in reference No. NTP-2 of 1987. Since the two writ petitions are in the nature of cross-petitions, the parties shall, hereinafter, be referred to as they are arrayed in Writ Petition No. 2416 of 1991, in which the Petitioner is the employer, Respondent No. 1 is the Presiding Officer, National Industrial Tribunal, Bombay and Respondents 2 to 8 are Trade Unions/Associations representing the present and past workmen of the Petitioner Employer. 2. A Company Know as ICI(India) Pvt. Ltd. was incorporated some time in 1926. Between 1939 to 1961, three Indian subsidiaries, by name (1) Alkali and Chemicals Corporation of India Ltd., (2) Indian Explosives Ltd. and (3) Chemicals and Fibers of India Ltd., of the parent U.K. Company were set up in India. In 1982, the other subsidiary comp...
National Organisation of Bank Workers' Federation of Trade Unions Vs. ...
Court: Mumbai
Decided on: Feb-10-1993
Reported in: [1992(65)FLR164]; (1993)IILLJ537Bom
H.D. Patel, J.1. The petitioner claiming to be a Federation of Registered Trade Unions working in various Nationalised and Non-Nationalised Banks in India has filed this appeal challenging the judgment of the learned Single Judge dated January 21, 1992, in Writ Petition No. 1834 of 1986.2. The second respondent is an Association of Banks and has been co-ordinating the activities of the member Banks in relation to matters of common interest and represents the member Banks at National level in labour matters. It is claimed by the appellant that the second respondent used to negotiate with them as well as other Federation of Trade Unions. The third tripartite settlement is signed by the second respondent on behalf of its member Banks in the year 1979. Despite the settlement, some issues remained to be resolved and such issues were referred for adjudication by arbitrators. The arbitrators, however, renounced the reference and, therefore the appellant, the second respondent and other federa...
Mumbai Mazdoor Sabha and anr. Vs. S.A. Patil and ors.
Court: Mumbai
Decided on: Feb-10-1993
Reported in: 1993(3)BomCR265; [1994(68)FLR171]; (1994)IILLJ891Bom
D.R. Dhanuka, J.1. Both writ petitions, being Writ Petition No. 321 of 1988 and Writ Petition No. 295 of 1988, have been heard together as the basic issues involved in these two writ petitions are almost identical.These writ petitions involve consideration of the following interesting and important questions of law:(a) Whether the Industrial Court had no jurisdiction to consider the question of alleged invalidity of Clause 2 of the impugned settlement prohibiting the employer from retrenching its workmen without first obtaining consent of union of employees while considering complaint made under Section 28 of Maharashtra Recognition of Trade Union and Prevention of Unfair Labour Practice Act, 1971 read with Item 9 of Schedule IV to the said Act? (b) Whether Clause 2 of the settlement in each case survived even after service of notice of termination of settlement and expiry of notice period as a part of contract of service or otherwise? (c) Whether Clause 2 of the settlement in each cas...
Dr. Sheela Laxmikant Kulwal Vs. the State of Maharashtra and ors.
Court: Mumbai
Decided on: Feb-10-1993
Reported in: 1994(1)BomCR527
V.S. Sirpurkar, J.1. All these petitions can be disposed of by this common judgment, as they involve common question of law.2. All the petitioners are challenging the refusal to their admission to the post-graduate degree course on the ground that they were not eligible to be considered as they had already joined and were already registered for diploma courses. It is an admitted position and a common ground that the petitioners have lost their admission to the degree courses owing to the fact that they were already admitted to the diploma courses.3. For the sake of convenience, we shall state the facts in Writ Petition No. 3258 of 1992 filed by Dr. Sheela Laxmikant Kulwal. It is an admitted position that the advertisement for the course of N.S. (opthalmology) was issued on 4-11-1992. This advertisement was for July, 1992 batch. It is commonly understood that there are two terms, first term beginning from January upto July and the second term beginning from July. The said terms are give...
Papaya Chinaya Muthwas Vs. State of Maharashtra and anr.
Court: Mumbai
Decided on: Feb-10-1993
Reported in: 1993(3)BomCR300
B.P. Saraf, J.1. By this writ petition, the petitioner has challenged the legality and validity of a notification dated 15-6-1988 issued by the Deputy Collector (ENC) and Competent Authority, Borivali under section 4(1) of the Maharashtra Slum Areas (improvement, Clearance and Redevelopment) Act, 1971 ('the Act'), declaring areas specified therein as a slum improvement area and a communication dated 16-8-1988 addressed to the petitioner informing about the issue of the said notification. The challenge is on two grounds : First, that a similar notification issued on 21-4-1983 by the Competent Authority was set aside by the Appellate Tribunal constituted under the Act by judgment dated 19-10-1984 in Appeal No. 34 of 1984, on the ground that there were sufficient facilities available for the population residing over the property in question and, as such, declaration of the area as Slum Area was not justified : Second, that there is no change in the factual circumstances that existed at th...
Commissioner of Income-tax Vs. Unichem Laboratories Ltd.
Court: Mumbai
Decided on: Feb-09-1993
Reported in: 1993(3)BomCR253; [1994]205ITR33(Bom)
Mrs. Sujata Manohar, J. 1. Income-tax Reference No. 233 of 1978 : 2. This reference pertains to the assessment years 1973-74 and 1974-75. The first dates of the previous years are October 1, 1971, and October 1, 1972, respectively. For the purposes of capital computation under the Companies (Profits) Surtax Act, 1964, the capital has to be computed as on the first day of the previous year relevant to the assessment year. 3. The directors of the assessee-company in their reports dated January 25, 1972, and January 20, 1973, recommended equity dividends of Rs. 5,40,000 and Rs. 6,30,000, respectively, from out of the profits of the years ending on September 30, 1971, and September 30, 1972. These were approved by the shareholders in the annual general meeting held on March 17, 1972, and March 15, 1973, respectively. 4. It was contended by the assessee that the recommendation for the declaration of dividend was not done on the first day of the previous year much less was there any declarat...
Commissioner of Income Tax Vs. Ramkumar Venugopal and Co.
Court: Mumbai
Decided on: Feb-09-1993
Reported in: [1995]215ITR732(Bom)
Smt. Sujata Manohar, J.1. The assessee is a partnership firm doing business in Bardan (Jute sacks), Kultan, Sutli, etc. In other words, the firm is doing business in jute products. For the asst. yr. 1966-67 the assessee had debited its profit and loss account by an amount of Rs. 31,988 being loss on account of a hedge transaction in the Bardan account. The ITO, however, held on going through the accounts that the assessee, although it had the requisite stock of Bardan, did not have stock that quality of Bardan which was contracted for the purposes of forward sale. The differences arising out of the renewal of such contracts for forward sale were settled from time to time. He, therefore, held that the loss had not arisen from a hedging contract but it was a speculation loss. 2. The AAC confirmed the findings of the ITO. The assessee appealed before the Tribunal. Before the Tribunal was pointed out that the assessee used to enter into forward contracts with customers in Calcutta for jute...
Commissioner of Income-tax Vs. Tarachand Kalyanji
Court: Mumbai
Decided on: Feb-09-1993
Reported in: (1993)111CTR(Bom)249; [1993]204ITR43(Bom)
Smt. Sujata Manohar, J. 1. The assessment year involved is 1969-70. The assessee carried on business as a building contractor. It had constructed more than 17 buildings for the Government and other authorities. In the year 1950, it was assessed to tax under the Excess Profits Tax Act and a tax of Rs. 25 lakhs was demanded from him in 1950. The assessee mortgaged certain immovable property on August 12, 1955, for Rs. 5 lakhs. Under the terms of the mortgage, compound interest at the rate of 6 3/4 per cent. was payable on the mortgage loan. A charge was also created on the property for the payment of compound interest. This loan of Rs. 5 lakhs was raised for meeting the excess profits tax liability. 2. Similarly, on May 16, 1962, the assessee created an equitable mortgage on his Ghotkopar property for securing a loan of Rs. 1,50,000. A charge was also created on this property for the payment of interest. This loan was also raised for discharging the above excess profits tax liability. 3....
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