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Commissioner of Income-tax (Central) Vs. Birla Bros. (Private) Ltd.

Court : Kolkata

Reported in : [1969]72ITR44(Cal)

..... as a deduction in computing the profits of the assessee ' 3. birla brothers (private) limited, hereinafter called ' the assessee ', carried on, inter alia, banking and financing business and acted as themanaging agents of various companies, one of which was messrs. starch products limited. messrs. u. p. sales corporation limited, a company incorporated on february 4, 1943 ..... assessee's contention that the case falls under section 10(2)(xi) of the act. 11. the income-tax officer found as a fact that, though technically the u. p. sales corporation limited was not managed by the assessee, the entire finance of this company was provided by it. it has also been found by ..... here that there was evidence before the income-tax officer that, though technically the u. p. sales corporation limited was not managed by the birlas, the entire finance of the company was provided by birla brothers limited. further, it appears that on the 31st march, 1947, the debtors, viz., u.p. sales corporation limited .....

Hindusthan Motors Ltd. Vs. Monopolies and Restrictive Trade Practices ...

Court : Kolkata

Reported in : AIR1973Cal450,77CWN711

..... the house of lords it must be noted that those were cases where the term 'control' or 'controlling interest' came up for construction as in the finance acts with or without special explanatory clauses. it was observed that normally control over a company must mean exercise of power by voting rights and a person is said ..... application information with regard to the inter-connection, if any, of the new undertaking (which is intended to be established) with every other undertaking, the scheme of finance for the establishment of the new undertaking and such other information as may be prescribed. (3) (a) the central government may call upon the person or authority ..... has been contended by mr. roy choudhury that the commission went wrong in holding that control over corporate bodies can be any control other than de jure control finance wise, capital wise or management wise. thirdly, mr. roy choudhury has found fault with the commission when it proceeded with the inquiry relying on the report of .....

C. Mackertich Ltd. Vs. Custodian

Court : Kolkata

Reported in : [2002]108CompCas811(Cal)

..... i, d.k. tyagi, appointed as custodian under section 3(1) of the special court (trial of offences relating to transactions in securities) act, 1992 vide government of india, ministry of finance, department of economic affairs (banking division) no. e4/3/94-scs/vig, dated 4-9-2001, having been satisfied on information received that ..... since they involved not only the banks but also the stock market, financial institutions, psu, the central bank of the country and even the ministry of finance, other economic ministries in varying degrees. the most unfortunate aspect has been the emergence of a culture of non-accountability which permeated all sections of the government ..... by the mr. d.k. tyagi, the custodian appointed under section 3(1) of the special court (trial of offences relating to transactions in securities) act, 1992 ('the act'). 3. from the said notification, it appears that in exercise of power under section 3(2), the custodian has notified certain persons and entities andissued a .....

Rasoi Products and anr. Vs. Commercial Tax Officer and ors.

Court : Kolkata

Reported in : [1982]51STC248(Cal)

..... become a new commodity after the same is powdered.15. the petitioner had been assessed for the years 1373 to 1384 b. s. under the bengal finance (sales tax) act, 1941, after taking into consideration the returns after verifying the documents, vouchers and only after the authorities were satisfied that the said commodities had been purchased ..... assessee. it is the petitioners' further grievance that the assessment for the years 1373 b.s. to 1384 b.s. having been completed under the bengal finance (sales tax) act of 1941, after taking into consideration the return with supporting documents, vouchers and after the authorities being satisfied that the said commodities had been purchased from ..... have given various particulars of the purchase of the said turmeric as also black pepper/white pepper as shown in the orders of assessment under the bengal finance (sales tax) act, 1941, for the years 1373 b. s. to 1384 b. s. the entire gross amounts of sales were assessed as consideration of sales in .....

E.i.T.A. (India) Ltd. and anr. Vs. D. Dutta and ors.

Court : Kolkata

Reported in : [1986]63STC416(Cal)

..... a notified commodity except in accordance with such conditions as may be prescribed. the language is similar to the language used in section 4b of the bengal finance (sales tax) act. in both the sections it has been specifically stated that 'such conditions shall be made with a view to ensuring that there is no evasion of tax ..... in the seizure case no. 288/m(41)/ccp dated 9th november, 1985 is stated to be contravention of the provisions of section 4b of the bengal finance (sales tax) act. the allegation is 'the driver was carrying 300 tins of cocoanut oil which were seized for lack of s.t. permit.29. no separate argument was advanced ..... with mr. nathmal himmatsinka, advocate.8. the petitioners were also severed with show cause notices for imposition of penalty for contravention of the provisions of the bengal finance (sales tax) act. the proceedings initiated by the show cause notices were stayed by an interim order dated 13th december, 1985. it may be noted that this interim order was .....

Ansuman Mullick Vs. Mallika Investment Co. (P.) Ltd. and ors.

Court : Kolkata

Reported in : AIR2004Cal316

..... treated as admitted, and at this stage they have to be accepted at their face value. the decision in sahu jain ltd. v. deputy secretary, ministry of finance, 70 cwn 399 discussed and legal position regarding this.39. i find that in talbot & co. v. haricharan halwasiya, : air1952cal47 the suit was filed alleging ..... 1470, and found its ratio to be the following :--'............a renewal clause, if exercised, cannot override the provisions of section 107 of the transfer of property act requiring leases above one year to be registered............'15. the legal position, therefore, is that renewal of lease and extension of lease are two distinctly separate ..... to say that there had been a renewed lease, which had enured in its favour, because admittedly the requirements of section 107 of the transfer of property act were not satisfied................'while holding as above the bench referred to the supreme court decision in delhi development authority v. durga chand kaushish, : [1974]1scr535 .....

Karam Chand Thaper and Bros. Vs. Deputy Commissioner of Income Tax

Court : Kolkata

Reported in : (1998)61TTJ(Cal)576

..... learned departmental representative, vis-a-vis 4a, we are of the opinion that it was never intended to be retrospective in operation. memorandum explaining provisions in finance (no.2) bill, 1996 may be usefully extracted hereinbelow:'under the existing provisions, the terms 'actual cost'means the actual cost of the assets to ..... relates to the claim of guest house expenditure. learned departmental representative submitted that in view of the specific provisions of section 37(4) of the income tax act, 1961, rates, taxes and repairs of the guest house are not allowable as deduction. first appellate authority decided the issue in favour of the assessee-company ..... also to claim depreciation and for such colourable transaction, judicial sanction should not be given. drawing our attention to explanation 3 to section 43(1) of the act, learned departmental representative submitted that apart from applying the mcdowell & co. ltd.'s case (supra), the order of the assessing officer can be supported by .....

Peerless General Finance and Investment Co. Ltd. Vs. Deputy Commission ...

Court : Kolkata

Reported in : (2005)195CTR(Cal)161,[2005]273ITR16(Cal)

..... 4. in the circumstances stated above, i have reason to believe that, by reason of the omission and failure on the part of the assessee, the peerless general finance and investment co. ltd., to disclose fully and truly all material facts necessary for its assessment for the assessment year 1981-82, income exceeding rs. 50,000 ..... limit then it was for the reserve bank of india or the central government to take action or to grant permission as may be provided under the foreign exchange regulation act, 1973. the hon'ble apex court clearly held (headnote) : 'that, however, could not be a ground for the income-tax officer to assume jurisdiction to ..... certificate, wrong basis of calculation and suppression of relevant facts :(a) income from forfeiture of lapsed certificates.(b) profit under section 41(1) of the income-tax act as a result of cessation of liability already claimed as 'interest and bonus accrued.'(c) excess deduction claimed under the head, 'interest and bonus accrued', at a fixed .....

C.I.T. Kolkata Ii Vs. Tata Tea Ltd.

Court : Kolkata

..... expenditure required to replace the entire computer but within a network system should be allowed as an expenditure as was the intention of the legislation in the finance act, 1999 by inserting section 36(1)(xi). thus the expenditure was for replacement of a system within a larger system which is permissible in law. ..... make such computer system y2k compliant computer system : provided that no such deduction shall be allowed in respect of such expenditure under any other provisions of this act : provided further that no such deduction shall be admissible unless the assessee furnishes in the prescribed form, along with the return of income, the report of ..... appellant. mr.abhratosh majumdar, mr.avra mazumder,advocates for the respondent. soumitra pal, j.:- the court : this appeal, under section 260a of the income-tax act, 1961preferred against the order passed by the income tax appellate tribunal for the assessment year 2000-2001, was admitted on the following substantial questions of law: 1. .....

C.I.T. Kolkata I Vs. M/S. Vivek Engineering and Casting Ltd.

Court : Kolkata

..... of lending and investment and has also earned huge interest on such money lending business as indicated in the above figures. the amendment of section 36(1)(vii) by finance act w.e.f.01-04-89, the assessee is not required to establish that the debt has become bad in the previous year and mere written off of the bad ..... agree with the submission of the ld. counsel on this issue that this is not relevant for allowing the claim after the amendment of section in the provisions of the act with effect from 01-04-89. hon ble gujarat high court in the case of cit vs girish bhagwatprasad (2002) 256 itr772(guj.) has held that under the provisions ..... erred in deleting the disallowance made by the assessing officer without considering the conditions stipulated under section 36(i)(vii) read with section 36(2) of the income-tax act and only concentrating on the fact that the loan has become irrecoverable irrespective of the basis of legal requirement for allowing any debt as bad debt ?. the assessee had .....