Court : Kolkata
Decided on : Mar-17-1978
Reported in : AIR1978Cal516
..... have not only requested mr. t. goswami to furnish the particulars but at the foot of the letters it will appear that they have also intimated their clients ashok finance corporation to find out the names of the heirs and legal representatives. in this endorsement messrs. p.d. himatsingka & co. also brought to the knowledge of their ..... ignorant of the death of a defendant and could not for that reason make an application for substitution of the legal representative within the period specified in the limitation act and the suit has in consequence abated and under sub-rule (5) (b) the plaintiff applies after the expiry of the specified period for setting aside abatement ..... ) since this application has been taken out.6. mr. punja has drawn my attention to order 22. rules 4 and 9 and also arts. 120 and 121 of the limitation act. he has further referred to cases reported in : [1964]3scr467 , : air1975cal12 , 0065/1976 : air1976cal299 (fb).7. in the case reported in : [1964]3scr467 (union of india .....
Tag this Judgment!Court : Kolkata
Decided on : Mar-17-1978
Reported in : [1978]113ITR303(Cal)
..... of challenge is a notice issued under section 148 of the income-tax act, 1961, dated the 29th march, 1973, for the assessment year 1968-69. the petitioners are the trustees of a trust known as birla janakalyan trust. the assessment for the assessment year 1968-69 in respect of the said trust was completed on or about 27th ..... to the assessment year 1968-69. the income-tax deducted at source on the said dividend income amounted to rs. 74,645. in the course of the assessment proceedings of the petitioners the petitioners claimed exemption from income-tax under section 11 of the income-tax act, 1961. the petitioners' claim for exemption under section 11 was ..... at source was wrongly allowed to the petitioners. i say that the proceedings under section 147(b) were lawfully and validly commenced in respect of the assessment year 1968-69 on the basis of the aforesaid information.'2. the question, therefore, is whether there has been any escapement of income of the trust of which the petitioners .....
Tag this Judgment!Court : Kolkata
Decided on : Mar-17-1978
Reported in : [1979]119ITR340(Cal)
..... : [1942]10itr131(all) , mahabir prasad poddar v. ito : [1976]102itr478(cal) , balchand v. ito : [1969]72itr197(sc) , cit v. adinarayana murthy : [1967]65itr607(sc) , chooharmal wadhuram v. cit : [1968]69itr88(guj) , shewaram d. bhatia v. cit : [1971]82itr638(bom) , cit v. kurban hussain : [1971]82itr821(sc) , cit v. swaminathan chettiar : [1947]15itr430(mad) , mohd. haneef v. cit : [ ..... to deal with those cases, in any detail. it is well settled that the ito's jurisdiction to reopen an assessment under section 147 (section 34of the 1922 act) would depend upon the issuance of a valid notice. if the notice issued by him is invalid for any reason then the entire proceedings that would be taken ..... sole proprietor thereof.22. on or about march 23, 1965, the impugned notice dated march 18, 1965, issued by the said ito under section 148 of the act for the assessment year 1948-49 was received in the said office at 2nd floor of the aforesaid premises. it is stated by the respondent that the said notice .....
Tag this Judgment!Court : Kolkata
Decided on : Mar-16-1978
Reported in : [1979]120ITR466(Cal)
..... kumar sen, j.1. this reference under section 256(1) of the i. t. act, 1961, arises out of the income-tax assessment of tinsukia development corporation ltd., the assessee, in the assessment years 1966-67, 1967-68 and 1968-69.2. the facts found and/or admitted are shortly that the assessee was formed with ..... quoted with approval the decision of the calcutta highcourt in commercial properties ltd.'s case, : air1928cal456 andobserved as follows (p. 51) : ' by section 6 of the income-tax act the following six different heads of income are made chargeable: (1) salaries, (2) interest on securities, (3) income from property, (4) profits and gains of business, profession ..... up markets. ' the supreme court held that the income received by the appellant was indisputably income from the property and, therefore, was rightly assessed under section 9 of the act. (d) cit v. chugandas & co. : [1965]55itr17(sc) . the facts in this case were that the assessee, a firm dealing in securities, discontinued its .....
Tag this Judgment!Court : Kolkata
Decided on : Mar-16-1978
Reported in : [1978]42STC90(Cal)
..... the transactions by and between the assessee and the other members of the consortium amounted to sales both within the meaning of the indian sale of goods act and the bengal finance (sales tax) act, 1941.11. it is not disputed that the assessee transferred the goods to the other members of the consortium. it is also undisputed that the ..... dealer. we are unable to agree with mr. dutt. sale has been defined both in the indian sale of goods act and in the bengal finance (sales tax) act, 1941. the definition in section 2(g) of the bengal finance (sales tax) act is as follows :2. (g) 'sale' means any transfer of property in goods for cash or deferred payment or ..... goods by the applicant-company to other companies of the same consortium against payment of price constituted sales within the meaning of the indian sale of goods act and the bengal finance (sales tax) act, 1941.(2) whether or not sales of unserviceable goods, scraps, discarded and surplus materials were exigible to tax under the bengal .....
Tag this Judgment!Court : Kolkata
Decided on : Mar-15-1978
Reported in : [1979]119ITR145(Cal)
..... 1975crilj1545 , his contention must fail and we return our answer to question no. 1 in the affirmative and against the assessee.10. now, briefly speaking, the finance act, 1965, provides that the concessional rate of tax is payable by a company which is wholly or mainly engaged in the manufacture or processing of certain types of ..... years 1964 and 1965, respectively.3. in the assessment proceedings, the assessee was treated as a manufacturing concern and was taxed at concessional rates under the finance acts of 1965 and 1966, respectively. thereafter, the comptroller and auditor-general of india raised certain objections in the audit report regarding the assessments. the ito, ..... was not a company engaged in the manufacture or processing of goods and was, therefore, not entitled to the concessional rates of tax under the respective finance acts ' 2. the assessee is a private limited company and is engaged in pharmaceutical business. the assessment years are 1965-66 and 1966-67 and the .....
Tag this Judgment!Court : Kolkata
Decided on : Mar-14-1978
Reported in : [1979]117ITR741(Cal)
..... on the business of tobacco manufacture and used to purchase large quantifies of tobacco leaf in the united states of america through its buying organisation in that country. to finance the purchases and the expenses of this organisation the assessee used to buy dollars in the united kingdom through its bankers and used to remit the same to the assessee ..... the case, the tribunal was right in holding that the sum of rs. 1,52,710 was the income of the assessee and liable to tax in the assessment year 1968-69 ?'6. mr. s.r. banerjee, learned advocate for the assessee, has contended before us at the hearing that mere receipt of a surplus resulting from devaluation and ..... control authorities it had remitted to its agent in the u.s.a. dollars for the purpose of purchasing capital goods and for meeting other expenses. the assessee had also acted as the sole selling agent of a u.s.a. concern for sale of their products in india. in that connection, the assessee had incurred expenses on behalf of .....
Tag this Judgment!Court : Kolkata
Decided on : Mar-13-1978
Reported in : [1979]117ITR452(Cal)
..... , the assessee, who was a tobacco manufacturer, used to purchase large quantity of tobacco leaf in the united states through its buying organisation in that country. to finance the purchases and expenses the assessee used to buy and accumulate dollars each year before the commencement of the tobacco leaf season. at the outbreak of war in september ..... rupee. the assessee claimed that the surplus or profit was in the nature of a windfall having nothing to do with its business. it was solely due to an act of the government and was, therefore, not liable to tax. the revenue authorities rejected such contention. on a reference, the high court distinguished canara bank ltd. : ..... v. nainital bank ltd. : [1965]55itr707(sc) , this court rejected the claim of the assessee and held that devaluation was an act of the state and also that of a sovereign power. such an act was extrinsic to and had no connection with the business of the assessee who, therefore, could not claim a business loss. the court .....
Tag this Judgment!Court : Kolkata
Decided on : Mar-10-1978
Reported in : AIR1978Cal577,[1979]49CompCas602(Cal),82CWN712
..... vacated.21. that decision also, in my opinion, is not applicable to the facts and circum stances of the present case. in longlands farm's case (1968-3 all er 552) theplaintiff brought an action against the defendants for cancelling the agreementon the ground that the condition precedent viz. the planning permission was notobtained by ..... 's bench division in kuenigl v. donnersmarck (1955) 1 qb 515 and a decision of the chancery division in re longlands farm v. superior development, ltd. (1968) 3 all er 552.9. mr. sen, further contended that the petitioner did not make any application for securing approvals as contemplated by clause 10.4, of the ..... the respondents nos. 1 and 2 and affirmed by joti prasad mukherji, director (investment), ministry of finance (department of economic affairs). in that affidavit it is stated that the petitioner not being an applicant under the foreign exchange regulation act, 1973 the disapproval of the respondent no. 3 by the respondent no. 1 cannot be availed .....
Tag this Judgment!Court : Kolkata
Decided on : Mar-09-1978
Reported in : [1979]116ITR781(Cal)
..... off. the management agread to reopen the mill on the 1st january, 1960, and work with full complement of working 165 looms within three weeks thereof. the management required finances of rs. 6 lakhs for which an application was made to the state government which the union of the workmen agreed to support. on 16th november,1959, there was ..... lease and the relevant provision of law, held that the rental income was assessable as business income and, therefore, was assessable under section 28 of the i.t. act, 1961. the tribunal also held that the sum of rs. 3,033 spent in connection with lease agreement was an expenditure of a revenue nature incidental to theassessee's ..... the sum of rs. 3,033 spent in connection with the lease agreement was an expenditure of revenue nature incidental to the assessee's activities under section 37 of the act. the question no. 1 is, therefore, answered by saying that the income of the assessee from lease rent was assessable as business income under section 28 of the .....
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