Court : Kolkata
Decided on : Aug-31-1978
Reported in : AIR1979Cal50
..... 1940 pc 3, at pp. 5, 6) to show that the commissioner's report should not be rejected except on clearly denned and sufficient grounds. the court should not act as an expert and overrule the commissioner's report whose integrity and carefulness are not questioned and who did not blindly accept the assertion of either party. here the pleader ..... provisions of section 6 of the act. hence on that ground alone the suit will fail. since it was intermediary interest, the intermediary cannot, in the eye of law, retain the disputed land since the ..... (exts. 1 (a) and 1 (b)) show that the disputed property was a part of 'chukani jote'. so, it is a tenure. after the provisions of west bengal act i of 1954 came into force, the rights of the intermediaries vested in the state. the plaintiff has not proved that his vendor retained the disputed land according to the .....
Tag this Judgment!Court : Kolkata
Decided on : Aug-30-1978
Reported in : [1979]120ITR872(Cal)
..... india) ltd. v. asst. cct . in this case it was held by a single judge of this court on construction of section 20 of the bengal finance (sales tax) act, 1941, that though the cct on his own motion could revise any order passed by subordinate assessing authorities after giving the assessee an opportunity of being heard, ..... pal pvt. ltd, v. member, board of revenue : air1976sc1545 . the facts in this case were that the appellant company, a dealer registered under the bengal finance (sales tax) act, 1961, was assessed to sales tax for the relevant period. the cto rejected the appellant's books of account, enhanced the gross turnover and imposed a penalty. ..... may end with his order or may be revised by the higher appellate authorities including the appellate assistant commissioner and the tribunal recognised by the income-tax act. if, therefore, such higher appellate authorities such as the appellate assistant commissioner or the tribunal directs or orders him to do something again with regard to .....
Tag this Judgment!Court : Kolkata
Decided on : Aug-25-1978
Reported in : [1978]42STC398(Cal)
..... cause as to why security of rs. 50,000 should not be demanded from him under section 7(4a)(ii) of the bengal finance (sales tax) act, 1941, for proper use and safe custody of declaration forms.2. thereafter, the additional commissioner states that show cause notice was ..... am of the opinion that it is a fit case for demand of security under section 7(4a)(ii) of the bengal finance (sales tax) act, 1941, in the context of what has been stated earlier. i am also of the opinion that it would be fair ..... of rs. 50,000 in the instant case under section 7(4a)(ii) of the bengal finance (sales tax) act, 1941.3. the propriety of this order is challenged in this application. the commissioner may under section 7(4a)(ii) of ..... any undertaking supplying electrical energy to the public under a licence or sanction granted or deemed to have been granted under the indian electricity act, 1910 (9 of 1910), reasonable security for the proper use and safe custody of the forms referred to in the proviso to clause .....
Tag this Judgment!Court : Kolkata
Decided on : Aug-25-1978
Reported in : [1978]42STC458(Cal)
..... the division bench of this court in b. c. nawn & bros. private limited [1973] 31 s.t.c. 379. i hold that assessment under the bengal finance (sales tax) act, 1941, is an annual assessment and can be made only for an annual period. the statute does not provide for one comprehensive or consolidated assessment for several years. this ..... it did not raise objection in appeal or in revision should not be a ground for exercising the discretion of the court against the assessee.14. the bengal finance (sales tax) act, 1941, is a fiscal statute and it fixes a liability on the subject. the provisions of a fiscal statute have to be strictly construed and applied. with ..... section, west bengal v. b. c. nawn & bros. private ltd. [1973] 31 s.t.c. 379. here the respondent was a registered dealer under the bengal finance (sales tax) act, 1941 and its return period had been fixed by the assessing authority as each quarter of the 'akshoytritia year', according to the bengali calendar. it was liable to furnish .....
Tag this Judgment!Court : Kolkata
Decided on : Aug-10-1978
Reported in : [1981]129ITR560(Cal)
..... enquiring the genuineness of a loan shown by a third person, who alleges that the money was received from a person who may be a declarant under the said finance act. the enquiry will be necessarily confined to the question as to whether in fact the loan was received from the declarant. the enquiry cannot go further and the ..... from the end of the assessment year in which the income was first assessable, where such assessment year is the assessment year commencing on the 1st day of april, 1968; (iii) two years from the end of the assessment year in which the income was first assessable, where such assessment year is an assessment year commencing on or ..... also as in the return filed on september 7, 1967, the assessee herself had made the endorsement ' revised '. accordingly, he held that the assessment made on september 3, 1968, was sustainable under section 153(1)(c). he had further that as proceedings had been started under section 271(1)(c) by the ito for concealment of income, the assessment .....
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...... .....
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 : 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-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-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 .....
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