Court : Kolkata
Decided on : Jun-16-1978
Reported in : [1979]44STC11(Cal)
..... dipak kumar sen, j. 1. m/s. ascu hickson limited have initiated the pre-sent reference under section 21(1) of the bengal finance (sales tax) act, 1941. the west bengal commercial taxes tribunal has drawn up a statement of case and has referred the following questions for the opinion of this court as ..... was unsuccessful.13. it was contended before the supreme court that the appellant had entered into an agreement with the state trading corporation of india ltd. and had been acting as the agent of the latter and, therefore, could not be assessed as a dealer. the supreme court considered and construed the agreement and noted the following terms ..... order to resolve the controversy whether delivery, despatch or consignment of cement by the appellant to the said cement marketing company ltd. were sales under the bihar sales tax act, 1944. the following terms in the agreement were noted by the supreme court:(a) cement marketing company ltd. was appointed as sole and exclusive sales manager for sale .....
Tag this Judgment!Court : Kolkata
Decided on : Jun-21-1978
Reported in : 1978(2)ELT643(Cal)
..... petitioner was also not up held by the respondent no. 2. thereafter the petitioner made an application under section 131(1) of the customs act, 1962 before the joint secretary, ministry of finance, for revision of the said order and also for refund of the claim for rs. 23,234.09 p. but the said revisional ..... 1973 affirming the decision of the assistant collector of customs for refund and the revisional order passed under section 131 of the customs act by the joint secretary, government of india, ministry of finance, dismissing the revisional application are under challenge.2. the case of the petitioner company in short is that the petitioner had been ..... notification issued by the government of india dated august 20, 1965 'sulphur' is exempted from the whole of the customs duty leviable thereon under the indian tariff act, 1944. between november 1969 and april 1971 the petitioner imported a number of consignments of 'crystex n-insoluble sulphur' and the petitioner claimed that all the said .....
Tag this Judgment!Court : Kolkata
Decided on : Jul-03-1978
Reported in : AIR1978Cal379,82CWN1031
..... on which the said relief undertaking was declared as such, by the said relief undertaking with the government, the industrial reconstruction (corporation) of india limited or any other financing institution shall remain suspended.' 8. on september 21, 1976 two guarantors defendants nos. 6 and 7 namely b. k. agarwalla and b. p. agarwalla, took ..... and assurances though in force at the time of the declaration in 1976 were entered into long before and prior to the institution of the suit in 1968. 25. the order under appeal is in respect of contracts and assurances of properties of the company which are within the ambit of the notification and ..... force for more than five years in the aggregate ('five years' have been substituted by 'seven years' by the west bengal relief undertakings (special provisions) (amendment) act, 1974). section 4:-- application of certain enactments and contracts, agreement etc. to relief undertaking. the state government may, if it is satisfied that it is necessary or .....
Tag this Judgment!Court : Kolkata
Decided on : Jul-05-1978
Reported in : [1979]119ITR431(Cal)
..... to in the said section meant benefits or amenities or perquisites in kind and did not include direct cash payments to the employee.14. he submitted that by the finance act, 1964, the word 'remuneration ' in clause (c)(iii) of the said section 40 was specifically deleted and the expression ' whether convertible into money or ..... thousand rupees per month for any period of his employment after the 28th day of february, 1963:...... ' 8. section 40(c)(iii) was amended by the finance act of 1964, whereafter it reads as follows :' (iii) any expenditure incurred after the 29th day of february, 1964, which results directly or indirectly in the provision ..... the assessee) laid out or expended wholly and exclusively for the purposes of the business or profession...... '7. section 40(c)(iii) was originally introduced by the finance act, 1963, and provided, inter alia, as follows :' 40. amounts not deductible.--notwithstanding anything to thecontrary in sections 30 to 39, the following amounts shall not .....
Tag this Judgment!Court : Kolkata
Decided on : Jul-13-1978
Reported in : [1978]42STC248(Cal)
..... price thereof and the frame is then appropriated to the contract of sale within the meaning of explanation 2(a) to section 2(g) of the bengal finance (sales tax) act, 1941. the petitioner then fixes the glasses, according to prescription, to the frame which has already become the chattel of the customer. there are thus two ..... . it is alleged that the commercial tax officer, alipore, who examined the petitioner's books of account, records and documents under section 14(1) of the act, completely misunderstood the nature of the transaction and the legal implication thereof and by an order dated 7th april, 1970, held that the petitioner manufactures spectacles from ..... parts of spectacles purchased by him and sells such spectacles to customers. according to the said officer, the petitioner is a manufacturing dealer whose liability under the act would arise upon the taxable quantum of rs. 10,000 within a year or part thereof. the commercial tax officer estimated that the gross turnover of the .....
Tag this Judgment!Court : Kolkata
Decided on : Jul-20-1978
Reported in : [1980]50CompCas75(Cal)
..... january, 1973, accorded sanction to the petition under the provisions of the second proviso to sub-section (5) of section 439 of the companies act, 1956, read with the government of india, ministry of finance, department of the company affairs, and insurance, notification no. g.s.r. 71 dated 1st january, 1966, to present this petition for ..... , in ye dhootpapeshwer sales corporation ltd. [1972] 42 comp cas 139 (bom) and, lastly, the supreme court decision in seth mohan lal v. grain chambers ltd. : [1968]2scr252 .9. mr. law submitted that in the present case although there is some delay in filing the winding-up petition after obtaining the sanction under sub-section (5) of ..... company and its directors were also prosecuted for non-filing of the balance-sheets and profit and loss accounts for the years ending 31st december, 1967, 31st december, 1968, and 31st december, 1969, which ended in conviction.3. it is alleged in para. 8 of the petition that the company did not file its balance-sheets .....
Tag this Judgment!Court : Kolkata
Decided on : Jul-24-1978
Reported in : 1979CENCUS250D,1987(27)ELT428(Cal)
..... the rate of export duty, to be assessed on tobacco unmanufactured, is .75 p per kilogram. the petitioner has further contended that under government of india, ministry of finance, department of revenue and insurance, notification no. 137-customs dated 23rd june, 1966 the central government exempted tobacco manufactured falling under this item viz. item no. 24 ..... the invoice, the shipping bill and the bank's certified invoice produced by the petitioner, would be without jurisdiction and not maintainable under the provisions of the act. in view of the above, it has been stated by the petitioner that the action of the authorities concerned in the instant case, was not only ..... was liable to pay only .75 paise per kilogram, in terms of the said tariff. it has been contended by the petitioner that without the authorities concerned acted illegally and without jurisdiction in making an assessment of 20% ad valorem, as a result whereof much in excess of duty actually payable, has been realised from .....
Tag this Judgment!Court : Kolkata
Decided on : Jul-27-1978
Reported in : [1979]119ITR751(Cal)
..... to income other than income chargeable under the head ' salaries' and so far as it is not due to variations in the rates of tax made by the finance act enacted for the year for which the regular assessment is made, simple interest at the rate of six per cent. per annum from the 1st day of january in ..... years from the end of such assessment year;(ii) where the return relates to a previous year relevant to the assessment year commencing on the 1st day of april, 1968, three years from the end of the assessment year;(iii) where the return relates to a previous year relevant to any other assessment year, two years from the end ..... and in an appeal against the assessment, the aac would not be required to consider grounds, if any, taken against chargeability of interest under section 215 of the i.t. act, 1961.23. after consideration of the above decisions we record our respectful agreement with the main principles laid down in jagdish prasad ramnath : [1955]27itr192(bom) , keshardeo shrinivas .....
Tag this Judgment!Court : Kolkata
Decided on : Jul-31-1978
Reported in : [1980]50CompCas381(Cal)
..... reputation and is running a chain of five-star hotels in india, as stated above, which naturally involves large sums of money and for raising adequate finance the company had to accept such deposits. the company, it appears has foreign collaborations and acquired technical know-how and expertise for running big hotels, both ..... . in the said supplementary affidavit the petitioners have annexed a chart showing the ceiling on the deposits as actual position from the commencement of the companies (amendment) act, 1974, wherefrom it appears that admittedly there were certain excess deposits under rule 3(2)(ii) and rule 3(3) of the companies (acceptance of deposits) ..... the steps the company took pending the disposal of the representation application before the central government for exemption to be granted under section 58a, of the companies act, 1956. the said representation for exemption asked for several prayers being granted which are set out in para. 11 and various sub-paragraphs of the .....
Tag this Judgment!Court : Kolkata
Decided on : Aug-04-1978
Reported in : [1981]128ITR302(Cal)
..... dividends paid and proposed must then be deducted to disclose the funds which have been ploughed back, or retained in the business, as opposed to 'external' sources of finance, such as funds arising from the issue of shares or debentures.' 22. on the -facts and records in the present reference, it appears to us that the ..... a fund within the meaning of that rule.17. mr. roy also brought to our notice a circular, being circular no. i.p. (xv-5) of 1968, dated 23rd january, 1968, which, inter alia, provides as follows:'treatment of the amount standing to the credit of ' reserve for un-expired risks'.--attention is invited to the provisions ..... of the second schedule to the companies (profits) surtax act, 1964, which lay down the rules for computing the capital employed by a company for the purposes of the said act...... .....
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