Court : Kolkata
Reported in : AIR1986Cal374,[1990]68CompCas344(Cal)
..... therefore in my opinion, the court has to find out from the facts of each case :--1 whether demands for enforcing the bank guarantees has been made strictly in accordance with the terms of the document concerned; or 2) whether there is any allegation of fraud against the beneficiary of which the bank has notice; or 3) whether there is any special equity arising out of the particular situation of the case giving rise to a strong prima facie ..... on the observation made in paragraph 16 of : air1985cal23 as follows :'the petitioner, as we find, relies upon the second condition for enforcement of the bank guarantee on the ground that out of the running bills of the opposite party only a part of the mobilisation advance has been recovered leaving a balance of ..... be remembered that under the general principles of law, no person can be the judge of his own cause but this general principle of law has to be given a go bye in case of bank guarantees and letters of credit for the sake of smooth functioning of the international trade and commerce. ..... banerjee & banerjee have failed to fulfil the terms and conditions of the contract referred to in aforesaid bank guarantee and committed breach of the terms of the aforesaid contract and in consequence we have suffered loss and/or damage far exceeding the amount guaranteed ..... all parties and the banks concerned are to act on the signed copy of ..... further alleged that it submitted its running bills from time to time up to november 1984 and the respondent no. .....
Tag this Judgment!Court : Kolkata
Reported in : [1987]61CompCas628(Cal),91CWN596
..... the expression 'prize amount' shall mean the amount, by whatever name it be called, arrived at by deduction from out of the total amount subscribed at each instalment by all subscribers, (a) the commission charged by the company or service charges as a promoter or a foreman or an agent and (b) any sum which a subscriber agrees to forgo, from out of the total subscriptions of each instalment, in consideration of the balance ..... or in any other capacity, moneys in one lump sum or in instalments by way of contributions or subscriptions or by sale of units, certificates or other instruments or in any other manner or as membership fees or admission fees or service charges to or in respect of any savings, mutual benefit, thrift or any other scheme or arrangement by whatever name called, and utilise the moneys so collected or any part thereof or the income accruing from investment or other use ..... substance or the true nature of the prohibited activities under section 2(e)(iii) the supreme court upheld the validity of the act knowing fully well that it covers miscellaneous non-banking companies conducting savings schemes with or without prize element previously regulated by the statutory directions of the reserve bank of 1973 and 1977 ; and (iv) there is no decision, no obiter, or no chance observation in the judgment ..... promulgation of the said act, it goes without saying that such a business is now being banned by the provisions of the said act with simultaneous repeal of those directions. .....
Tag this Judgment!Court : Kolkata
Reported in : (1986)56CTR(Cal)28,[1986]162ITR413(Cal)
..... the additional items for which the assessee claimed further deduction under section 35b were, inter alia, as follows :(a) commission in respect of export sales ;(b) salaries to export staff ;(c) ocean freight ;(d) bank charges ;(e) shipping expenses ;(f) postage, telegram and telephone ;(g) stationery and printing ;(h) staff welfare expenses ;(i) travelling expenses in india relating to export ;(j) marine insurance.4. ..... carriage of such goods to their destination outside india or on the insurance of such goods while in transit;(iv) maintenance outside india of a branch office or agency for the promotion of the sale outside india of such goods, services or facilities ;(v) preparation and submission of tenders for the supply or provision outside india of such goods, services or facilities, and activities incidental thereto ;(vi) furnishing to a person outside india samples or technical information for the promotion of the sale of such goods ..... this decision is not of particular relevance in the instant case inasmuch as there it was held by the high court that weighted deduction under section 35b(1)(b)(iii) of the income-tax act, 1961, would be available only in respect of expenses incurred outside india and not in respect of expenses incurred in india by reason of the specific language of the said sub-clause (iii).15. ..... jay engineering works : [1984]149itr297(delhi) . ..... cit : [1984]146itr425(mad) . .....
Tag this Judgment!Court : Kolkata
Reported in : (1987)ILLJ260Cal
..... may, it was brought to the notice of this court by the respondent authority that by reason of a notification dated 12th may 1986 issued by the central government under the administrative tribunals act, 1985, the high court ought not to deal with the matter any further and the matter ought to be sent back to the tribunal for being dealt with before the tribunal.25. mr. ..... levying the damages if parties fail to pay the damages as levied, action is to be taken under section 8 of the employees's provident fund act for initiation of recovery proceedings.that besides the provisions made in the act there are departmental circulars, according to which the regional provident fund commissioner was not allowed to review his own orders, except in the following ..... mitra that inspite of the statutory provisions as contended in the administrative tribunals act, 1985 having due regard to the provisions of article 323a of the constitution, the high court still retains the jurisdiction in regard to the service matters for the purpose of issuance of appropriate writ or writs, more so by reason of the fact that the matter in issue does not ..... the objects provide that it is expected that the setting up of such an administrative tribunal to deal exclusively with service matters would go a long way in not only reducing the burden of various courts and thereby giving them more time to deal with other cases expeditiously but in also ..... american express international banking corporation reported ..... in 1984(1) .....
Tag this Judgment!Court : Kolkata
Reported in : [1987]165ITR558(Cal)
..... (3) whether, on the facts and in the circumstances of the case and having regard to the fact that the assessee-company itself included commission paid to its directors for the purpose of disallowance under section 40(c) of the income-tax act, the tribunal was justified in upholding the decision of the commissioner of income-tax (appeals) in entertaining the ground of appeal of the assessee claiming exclusion of commission for working out the disallowance under section 40(c) of the income-tax ..... 42,284 made on account of fluctuations in the exchange rate of dollars, at the time of repayment of the dollar loan raised from exim bank and icici, respectively, for purchasing machinery from abroad was a capital expenditure and not an allowable revenue expenditure ? 2. ..... in that case, a division bench of the madras high court considered section 35b(1)(b)(iii) of the income-tax act, 1961, and held that weighted deduction under the said clause of the section would be available only in respect of expenses incurred outside india and not in respect of any expenditure incurred in india if the distribution of ..... (vi) furnishing to a person outside india samples or technical information for the promotion of the sale of such goods, services or facilities.' 21. ..... engineering works : [1984]149itr297(delhi) . ..... 's case : [1984]146itr425(mad) , the madras high court considered the claim for weighted deduction made under section 35b(1)(b)(iii) and not under other clauses in the said ..... cit : [1984]146itr425(mad) .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1986)19ITD275(Kol.)
..... it has been held that the payment made by the indian concern to the non-resident company between which there was a subsisting agreement amounted to royalty even though it is called 'commission'.then, he took us through the cases wherein it has been held that technical fees or royalty are taxable in india if the patent or the technical know-how is commercially exploited ..... record to suggest that pgc was a mere agent or stooge or conduit pipe acting for or on behalf of the assessee, or that the agreement dated 24-4-1965 was a mere eye-wash.whatever might be the obligations of the assessee envisaged under the agreement dated 1-1-1964, in point of fact, the assessee has not rendered any services whatsoever in india and this fact has not been controverted by the revenue. ..... company under which the foreign company lent some personnel for carrying out the business activities of the indian company in india and the question was as to at which place the services were rendered by the non-resident company so that that place would become the place of accrual of the income. ..... the assessments for the five years under consideration were completed under section 143(3) of the income-tax act, 1961 ('the act') on different dates on the basis of the returns filed by the assessee.subsequently, these assessments were reopened under section 147(a) of the act on the ground that certain incomes chargeable to tax had escaped assessment due to the omission of the assessee to disclose fully and truly ..... [1984] .....
Tag this Judgment!Court : Kolkata
Reported in : (1987)0CALLT179(HC)
..... where the supreme court was dealing with the scope of section 58(1)(2)(i) of the reserve bank of india act, 1934 and has observed that the central board has the power to make service regulations for the employees of the reserve bank under section 58(1) of the act, apart from holding that section 58(1) confers power on the central board of directors of the reserve bank of make regulations in order to provide for all matters for which provisions necessary or convenient for the ..... it was also his case that during his continuance of service under the said institute he had to his credit various notable publications and was also commissioned by the indian council of social sciences research, new delhi, to prepare and survey of research in public enterprises in india. ..... , : (1984)illj67sc where a point arose as a to whether indian statistical institute, a society registered under the societies registration act, being 'under the control of the government of india', is an instrumentality of the central government and if, would be covered by article 12 of the constitution of india and thus whether, a writ petition under article 32 against that institute, for violation of ..... : (1984)iillj186sc , were considered amongst others and on consideration of them, the supreme court has observed that a state must have a relatively permanent legal organisation determining its structure and the relative power of its major ..... : (1984)illj67sc relying on amarjit singh, : (1975)illj228sc , sukdev singh v. .....
Tag this Judgment!Court : Kolkata
Reported in : (1987)IILLJ277Cal
..... thereon within a stipulated time, secondly, a direction on the respondents to determine the total dues of the petitioner on account of service terminal benefits upto the date of cessation of his service in accordance with their letter dated march 23, 1978 whereby the said bank had advised that in accordance with the decision of the appellant authority, the petitioner had ceased to be in bank's service with immediate effect, within a fort night and to pay the same to the petitioner and thirdly, ..... . admittedly, the petitioner by his two representations dated april 10, 1978 and may 23, 1978 asked for clarification of the said bank's communication dated march 23, 1978, the particulars whereof have been indicated hereinbefore and whereby he was informed that he ceased to be in the bank's service with immediate effect and was further advised that leave due to him prior to his suspension might be availed of subject to the usual ceiling ..... . in that case a further contention was raised regarding the power of the central board under sections 43 and 50 of the state bank of india act, 1955 and the executive instruction under section 43, if would be enforceable, apart from the contention whether the state bank of india (supervising staff) service rules are statutory and as such, if enforceable under article 226 of the constitution of india, and in that case, it has been observed by the division bench of the allahabad ..... . 1984 i l.l.j 67.27 .....
Tag this Judgment!Court : Kolkata
Reported in : 1988(15)ECC287,1988(17)LC440(Calcutta),1989(33)ELT29(Cal)
..... in our jurisdiction, social justice is a pervasive presence; and so, save in special situations it is fair to be guided by the strategy of equity by asking those who claim the service of the judicial process to embrace the basic rule of distributive justice, while moulding the relief by consenting to restore little sums, taken in little transactions, from little persons, to whom they belong ..... under these circumstances the supreme court held as follows :-'the principles laid down in the aforesaid cases were based on the specific provisions in those acts but the same principles can safely be applied to the facts of the present case inasmuch as in the present case also the respondents had not to pay the amount from their ..... appeal by the assistant collector of central excise and union of india is directed against a judgment and order dated 3rd december, 1984 passed by a learned single judge in an application under article 226 of the constitution of india.facts2. ..... with interest on the said sum at the appropriate bank rate with effect from 1st september, 1979. ..... it is really a law returning to the public what it has taken from the public, by enabling the committee to utlise the amount for the performance of services required of it under the act. ..... with the same in the following manner :-we direct the amount to be deposited with the receiver because if it is deposited with the registrar, original side of this court, that would involve deduction of some amount on account of commission. ii. .....
Tag this Judgment!Court : Kolkata
Reported in : 1988(15)ECC216,1988(36)ELT445(Cal)
..... the actual accepted price, that it appeared from documents filed that the imports were made in an unauthorised, illegal manner and contrary to the accepted mode, that also against the imports and exports (control) act, 1947 and imports (control) order, 1955, that the show cause notice issued by the authority was valid, legal and bona fide. ..... show cause notice dated 9th may, 1985 or to the order, if any, passed in the matter and further the respondents are directed to store the imported goods in warehouse as provided under section 49 of the customs act without payment of the customs duty and to keep the same in the warehouse until further order from this court. ..... the details of local commission paid, if any. ..... while enhancing the l/c the licences were produced before the customs authorities and the same licences were given to the bank at the time of enhancing the l/c. ..... (1) of import trade control policy, 1984-85, which reads thus :-'138(1). ..... the petitioner is directed to serve copies of the writ petition upon all the respondents within one week from date and file affidavit of service thereafter.' 10. ..... 3073640 dated 13-7-1985 and p/l 3073639 dated 13-7-1984 for clearance of goods valued at rs. ..... (a) p/s 1960813 dated 19-12-1984(b) p/s 2240410 dated 20-1-1985(c) p/s 1960962 dated 23-1-1985(d) p/s 1960818 dated 23-1-1985(e) p/s 1960809 dated 19-12-1984the importers however, did not produce the above licences but produced entirely different licences ..... 13-7-1984 _________fl. 3 ..... 13-7-1984 _________a .....
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