Court : Kolkata
Reported in : AIR1975Cal303
..... in the state of uttar pradesh. 5. on september 12, 1964, by an agreement in writing between the firm and the society, the firm agreed to supply coal to the society and the society agreed to act as selling agent of the firm in the district of faizabad, inter alia, on certain terms and conditions. in respect of the ..... report as null and void. 2. the applications have been made under the facts and circumstances as hereunder. 3. jaiswal coal company (i shall shortly call 'the firm') is a partnership firm, duly registered under the indian partnership act, 1932. the firm carries on business at gandhi house at no. 16, ganesh chandra avenue, calcutta. 4. fatehganj co ..... coal supplied to faizabad, the society will pay the railway freight, unloading, loading, transport and stacking charges upto the place of stacking. the coal will be sold to the .....
Tag this Judgment!Court : Kolkata
Reported in : [1994]209ITR298(Cal)
..... or any other form of power or in the construction of ships or in the manufacture or processing of goods or in mining. according to the explanation to clause (d) of sub-section (7) of section 2 of the above act, a company shall be deemed to be mainly engaged in the business of generation or distribution of electricity or any other ..... form of power or in the construction of ships or in the manufacture or processing of goods or in mining, if the income attributable to any of the aforesaid activities ..... included in its total income for the previous year is not less than fifty-one per cent. of such total income. 2. the question as to the exact meaning of the explanation to subsection 7(d) of section 2 of the finance act, 1966, came up for .....
Tag this Judgment!Court : Kolkata
Reported in : [1980]50CompCas296(Cal)
..... exhibit uuuu shows that there was also profit for the year 1968. from the side of the respondents it was argued that after the taking over of coaking coal mine, the position of lodna colliery became bad. we should not, however, forget that heavy and large compensation was granted for taking over. the position of lodna ..... aggrieved party challenging the sales of shares of the companies as illegal, fraudulent and ineffective, therefore, comes under the purview of section 155 of the companies act and are maintainable in law.19. in the present case the allegations of the petitioner-company relate to fraud and illegality and these applications are filed by ..... alreadymentioned were manipulated and not genuine have not been admitted.the petitioner's allegation that the sale transactions were not completed andthat the resolutions passed were not. acted upon have also been denied.all the material allegations against respondent no. 4 have also beenchallenged as false. it has also been denied that v.k. .....
Tag this Judgment!Court : Kolkata
Reported in : [1977]47CompCas802(Cal)
..... companies to amalgamate with any other company as there is a statutory power of amalgamation under the said section. i may also refer to an unreported judgment of mine in united bank of india ltd., since reported as united bank of india ltd. v. united india credit and development co. ltd. ., which is under ..... contention of mr. bose that without specific powers in the memorandum or the articles of both the companies and without an application tinder section 17 of the companies act, 1956, for alteration of the objects clause of the memorandum of the companies by incorporating powers to amalgamate, the scheme for amalgamation in this case cannot ..... in these circumstancesand on the application dealing with scheme or compromise or arrangement under section 391 is therefore expressly provided in section 394{l)(iv) of the companies act, 1956, which provides, inter alia, that the company may, either by an order sanctioning the compromise or arrangement or by subsequent order make provision for .....
Tag this Judgment!Court : Kolkata
Reported in : (1993)1CALLT352(HC),96CWN1157,(1993)ILLJ931Cal
..... the concerned departmental promotion committee (dpc).2. briefly the facts of the case are as follows: -the petitioner joined the nationalised coal company as a taken-over officer in 1971 and then joined bharat coking coal ltd. on the formation of the said company. at the time of take-over the petitioner was in e-3 grade ..... of such letters are included in annexure 'a' to the writ petition. petitioner further received letters of commendation from the higher authorities while working as supdt. of mines in e-5 grade. copies of such letters are annexure 'b' to the writ petition. petitioner was duly promoted from e-5 grade to e-6 grade ..... the merits and suitability of each candidate for promotion before making its recommendations. this committee, as we have stated, recommended the promotion of the respondent which was acted upon by the authorities and the recommendation was implemented during the pendency of the appeal. after all, the allegation against the respondent was of graft and corruption .....
Tag this Judgment!Court : Kolkata
Reported in : [1975]45CompCas226(Cal)
..... this is an application under section 17 of the companies act, 1956, for sanction of the alteration of the memorandum of association. the company carried on mainly the business of colliery as the name itself suggests. the colliery business has been taken over by the state as a result of nationalisation. the company, therefore, proposes to venture into new ..... companies, [1973] 43 comp cas 353 (punj)2. counsel for the registrar of companies, however, drew my attention to the decision of this court in in re bharat mining corporation ltd., [1967] 37 comp cas 430 (cal) where it was observed by p.b. mukharji j., as the learned judge then was, that it would be illogical ..... company previously cannot any longer be carried on and that is not because of any inability of the company to carry on the business but because of the nationalisation. it is true that the original objects permitted other ventures but when a company is incorporated various ventures are thought of but a company generally pursues those .....
Tag this Judgment!Court : Kolkata
Reported in : [1977]47CompCas689(Cal)
..... imaginary and he referred to the affidavit-in-opposition of rajaram sharma in support of his contention. he submitted that the other banks which have been nationalised have been amalgamated with well-established and reputed companies, as for example, central bank of india with tata engineering and locomotive company and bank of india ..... said years have been approved and adopted by the shareholders of the petitioner-bank in its annual meetings.(d) the petitioner-bank by reason of the nationalisation of the banking business has either to diversify its business and change its name to carry on other business or to send itself in voluntary liquidation ..... bank was one of the foremost banking concerns of the eastern region in india and banking business being nationalised with effect from 10th of july, 1969, under the provisions of the banking companies (acquisition and transfer of undertakings) act, 1970, the undertaking of the petitioner-bank became vested in the corresponding new bank, viz., united .....
Tag this Judgment!Court : Kolkata
Reported in : [1978]112ITR111(Cal)
..... building society ltd. and the said hindusthan co-operative insurance society ltd. devolved on the life insurance corporation of india upon nationalisation of the insurance business in terms of the said life insurance act, 1956 and, accordingly, it was only the life insurance corporation of india which could convey the property to the petitioner. ..... the said notice proceeded on the basis that hindusthan building society ltd. was one of the two transferors though the said hindusthath building society ltd. was acting merely as a confirming party, as described in the said conveyance whereby the said property was conveyed to the petitioner. it was stated that the confirming ..... section 269c, i hereby initiate proceedings for the acquisition of the aforesaid property by the issue of thisnotice under sub-section (1) of section 269d of the income-tax act, 1961 (43 of 1961), to the following persons, namely-(i) m/s. life insurance corporation of india, (ii) m/s. hindusthan building society ltd. ( .....
Tag this Judgment!Court : Kolkata
Reported in : [1979]117ITR256(Cal)
..... court reiterated that such decisions correctly laid down the law for determining what was an association of persons within the meaning of section 3 of the indian i.t. act, 1922. the supreme court observed that 'for forming an 'association of persons', the members must join together for the purpose of producing an income. an 'association ..... fourth purchaser jointly appointed and/or empowered one of the joint purchasers as their attorney for the purpose of managing the property, collecting rents and doing all other acts in respect of the said property on behalf of all the purchasers. in these circumstances, the ito assessed the four persons as an association of individuals, in ..... assessment for the assessment year 1947-48. he contended that, in the circumstances, the said notice was vague and invalid.13. section 148 of the i.t. act, 1961, enjoins the issue of a notice for assessment of escaped income. the section requires that before making the assessment the ito 'shall serve on the assessee' .....
Tag this Judgment!Court : Kolkata
Reported in : [1973]92ITR130(Cal)
..... of income-tax v. prem bhai parekh observed that the court could not ignore the clear and unambiguous expression contained in section 16(3) of the act and the expression should receive a proper interpretation. counsel for the revenue sought support from the aforesaid observation for contending that the supreme court had doubted ..... in question. in cannot be said that that income arose directly or indirectly from the transfer of the assets referred to earlier. section 16(3) of the act created an artificial income. that section must receive strict construction as observed by this court in commissioner of income-tax v. keshaval lallubhai patel, : [1965]55itr637 ..... tax officer making the assessment for the assessment year 1962-63 included the profits of the wife from the firm under section 64(iii) of the income-tax act, 1961. the assessee preferred an appeal to the appellate assistant commissioner. the appellate assistant commissioner upheld the order of the income-tax officer. the assessee, .....
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