Court : Kolkata
Reported in : (1993)111CTR(Cal)284
..... of the transfer of property act, 1982 provides how such debt can ..... of the transfer of property act, 1982 which defines actionable claim to ..... to the various provisions of the general law and also drew support for his contentions from the other provisions of the it act from the cognate legislation like the wt act, 1957 wherein the deposits in bank have been statutorily acknowledged as asset distinct from money.9. ..... during the next previous year ending on 31st march, 1982 the assessee trust gave loans to private parties after encashment of the said fixed ..... both the said sections grant exemption in respect of long-term capital gains when the sale proceeds are invested ..... certain types of assets including bank deposits should be held or a minimum period of six months from the valuation date for claiming the exemption under the said section. ..... of the minimum period of six months has the effect of mutilating the concept of asset as obtaining under the it act and its cognate act, viz. ..... the wt act are also ..... 54e of the act exempts long-term capital gains from tax when the sale proceeds arising on transfer of long-term capital assets are invested in acquisition ..... 256(1) of the it act, 1961, the following question of law has been referred to this court at the instance of the revenue for ..... 11(1a) of the it act, 1961 provided that where a capital asset being property held under trust wholly for charitable or religious purpose is transferred and the whole or any part of the net consideration is utilised .....
Tag this Judgment!Court : Kolkata
Reported in : [1992]73CompCas590(Cal)
..... bounced even on the third presentation to the bank for payment on november 16, 1989, and november 9, 1989, well within the period of their validity, the, complainant issued the notice in writing under section 138(b) of the act within fifteen days from the dates of receipt of the bank's intimations as to non-payment of cheques which were received on november 17, 1989, and november 10, 1989, respectively ..... . having heard the submission made on both sides and having considered the materials on record and also the provisions of section 138 of the act, i am of the opinion that, in the facts and circumstances of the case, the notice issued on november 18, 1989, under section 138(b) of the act and received by the accused persons on november 22, 1989, is a valid and legal notice, and that the instant ..... the aforesaid argument, the supreme court observed as follows (page 1825 of air 1984 sc) : 'we do not think that the language of section 10 of the essential commodities act justified the submission made on behalf of the petitioners that if it is alleged that the person contravening the order made under the essential commodities act is a company, the prosecution of directors, the officers, and the servants of the company or other persons is precluded unless the company ..... . as there are definite allegations against the accused persons inasmuch as the commission of the alleged offence has been attributed to neglect on the part of the accused persons the learned magistrate appears to be quite justified .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1991)39ITD345(Kol.)
..... the other issues raised in this appeal regarding nature of receipt and taxability under section 41(1) are not considered on merits by us as they will be decided when the assessing officer makes a regular assessment in the appropriate year regarding the taxability of rs. ..... it is further contended that it is also not a remission or refund of sales-tax and cannot also be taxed under section 41(1) of the it act. ..... is of capital in nature, the departmental representative stated that since the grant of subsidy is directly linked with sales-tax paid by the assessee, that amounts to refund of sales-tax and the sum is chargeable to tax under section 41(1) of the income-tax act. ..... on the ground that the subsidy did not accrue or arise during the assessment year 1981-82, and also erred in holding that the same was of capital receipt and hence not liable to tax under section 41(1) of the it act.3. ..... ground that the subsidy did not accrue, or arise during the accounting year relevant to the assessment year 1981-82, and has also held that the receipt is of capital nature and is not assessable under section 41(1). ..... v.cit [1954] 26 itr 27 (sc), this court considered the question as to the point at which income could be said to accrue or arise to an assessee for the purpose of the indian income-tax act. .....
Tag this Judgment!Court : Kolkata
Reported in : (1992)1CALLT151(HC)
..... maruti harique yadav) where the chief justice gajendragadkar held that while exercising jurisdiction under section 115 of the code of civil procedure it was not competent to the high court to correct errors of fact, however gross they may be or even errors of law, unless the said errors have ..... of his client and placed section 14(3)(c) and section 42 of the specific relief act and placed air 1967 mad. ..... the petitioners that section 14(3) of the act has no application in this case as the plaintiff does not even claim to be in possession of the property as indicated in sub-clause (c) (iii) of sub-section (3) of section 14.10. ..... building or construction contract cannot be specifically enforced under section 14(i)(a), (b) and (c) of the specific relief act, 1963 and accordingly no injunction can be granted in view of the bar imposed by section 41(e) and (h) of the said act. ..... cannot be specifically enforced under the provision of section 14(1)(a), (b) and (c) of the specific relief act, 1963 and accordingly no injunction can be granted in view of the bar imposed by section 41(e) of the said act. ..... amendment act of 1976 to section 115(1) cannot and does not mean that an interlocutory order is always revisable if it has occasioned a failure of justice or has caused irreparable injury even though the requirements of the sections are not ..... possession in pursuance of the contract a suit for specific performance is not maintainable according to section 14(3) proviso (c) (iii) of the act of 1963. .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1991Cal327
..... 16 of the specific relief act it is necessary for the plaintiff to allege and prove his continuous readiness and willingness to perform his part of the contract from the date of the contract till the date of hearing. ..... 20 of specific relief act, the court has the discretion either to grant or refuse to grant the decree for specific performance of contract. .....
Tag this Judgment!Court : Kolkata
Reported in : [1993]199ITR132(Cal)
..... supreme court held that the properties in respect of which leases had expired in 1958 and 1963 and notices had been received by the assessee to hand over possession were not 'assets' within the meaning of section 2(e)(2)(iii) of the wealth-tax act and their value was not liable to be included in the net wealth of the assessee.21. ..... in the case before the supreme court, the question was whether section 2(e)(v) of the wealth-tax act, 1957, excluded from the concept of 'asset' any interest in property where the interest was available for a period not exceeding six years. ..... on these facts, seven questions were raised by the assessee under section 26(1) of the gift-tax act, 1958, but only two questions have been referred. ..... the assessee made an application in this court under section 26(3) of the gift tax act, 1958, requiring the tribunal to draw up a statement of case and refer the other five questions which have not been referred by the tribunal. ..... in view of this judgment, the application under section 26(3) of the act will stand rejected.29. ..... in this reference under section 26(1) of the gift-tax act, 1958, for the assessment year 1973-74, the following questions have been referred to this court :'1. ..... , on the date of the notification under section 4(1) of the act. ..... section 107 of the transfer of property act, 1882, specially excludes the words ' or on behalf' clarifying thereby that the lease cannot be entered into by minor or on behalf of a minor. .....
Tag this Judgment!Court : Kolkata
Reported in : (1992)103CTR(Cal)360,[1992]194ITR114(Cal)
..... : [1985]156itr369(mad) , where it has been held that the object of the second proviso to section 23(1) of the act is to allow a reduction from the annual value of the two residential units and not from the annual ..... at the hearing, it has been contended on behalf of the revenue that the object of the proviso to section 23(1) of the act is to encourage construction of residential units which would be used as such and not for construction of houses which would ..... in this reference under section 256(1) of the income-tax act, 1961, the following question of law has been referred to this court for the assessment year 1982-83 :'whether, on the facts and in the circumstances of the case, the tribunal was justified in law in directing the income-tax officer to allow deduction under the second proviso to section 23(1) of the income-tax act, 1961, in respect of the portion of ..... the tribunal held that the assessee was entitled to deduction under the second proviso to section 23(1) of the act :'we have considered the contentions of both the parties as well as the facts on ..... our view, the benefit conferred by clause (b) of the second proviso to section 23(1) of the act could only be availed of if the building was actually used for residential ..... the benefit envisaged under clause (b) of the second proviso to section 23(1) of the act is to a building comprising one or more residential units constructed during the period specified therein and is not dependent upon its user by the tenant to whom .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1991Cal299,(1991)1CALLT223(HC),1991(1)CHN183
..... act and section 13(6) of the west bengal premises tenancy act expiring on the last date of december, 1976 but the defendant did not comply with the notice. ..... this appeal is directed against the judgment and decree dated may 25, 1982 passed by the learned subordinate judge, 3rd court, howrah in title appeal no. ..... the defendant's tenancy was determined by service of a combined notice under section 106 of the t. p. ..... 13(1)(ff) of the west bengal premises tenancy act does not mean absolute owner. ..... 13(1)(ff) of the west bengal premises tenancy act and as such he has not considered the question whether the plaintiff reasonably requires thesuit premises for his own occupation and whether he is in possession of reasonably suitable accommodation and allowed the appeal setting aside ..... 13(1) of the west bengal premises tenancy act.15. ..... 13(1)(ff) of the west bengal premises tenancy act. ..... 13(1)(ff) of the act. mr. ..... 13(1)(ff) of the west bengal premises tenancy act. mr. ..... 17(4) of the west bengal premises tenancy act. .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1991Cal205
..... it may be mentioned in this connection that article 372 of the constitution has a provision similar to section 296 of the government of india act, 1935 and section 18(3) of the indian independence act, 1947 for continuance of the moorshedabad act, 1891 until altered or replaced by a competent legislature. ..... ' it is further stated that there was no question of any discretion in this matter to be exercised bythe government and the line of succession was a matter of law as confirmed by the act of 1891 and the government of india was bound to recognise the eldest male of the eldest branch of the said nawab bahadur sir has-san ali as the nawab of murshidabad, each time a succession is opened out ..... submitted that the concept of locus standi has undergone enormous change after the supreme court decision in the transfer of judges case reported in : [1982]2scr365 and a person with bare interest with a minimum nature can challenge the vires of any statute. ..... das that there is no definition in the act of 1980 of 'unauthorised occupant', and in this connection he has cited the famous goonda case of state of madhya pradesh ..... this case there was no definition of 'goonda' and in the murshidabad's case also there is no definition of 'unauthorised occupant' in the act of 1980. ..... reply to this, the counsel for the state government handed over the court the calcutta gazette extraordinary of 1st august, 1985 containing four notifications all of 1st august, 1985 where some definitions have been spelt out. .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1991Cal241
..... that since the property was recorded in the names of the said two trespassers in the municipal register who were pakistani nationals and possession of the said properties had been taken under the enemyproperty act on that score and a declaration was also obtained by the assistant custodian of enemy property that such property had vested as enemy property there was no question of delivering possession to the heirs and legal ..... respondents 4 to 9, it was not at all proper and legal on the part of the assistant custodian of enemy property at calcutta to treat the property as enemy property and/or for taking steps in furtherance of the said unauthorised act of possession of the said property to the loss and detriment of the heirs and successors of the said plaintiff in t.s. ..... in this connection has referred to the definition of enemy property as appearing in s ..... were declared as rank trespassers in respect of the said property, and decree for recovery of possession had been passed against them, such property could not be treated as enemy property under the said act and the action taken by the custodian of enemy property and/or asstt. ..... custodian of enemy property on the basis of the said act of taking possession of the property had inducted a number of tenants in the said premises and had been realising rents and profits ..... 'enemy property' according to the said act means any property for the time being belonging to or held or managed on behalf of an enemy, an enemy subject or an enemy .....
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