Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1993)45ITD22(Kol.)
..... per cent, of the profits. this would secure that companies pay a minimum tax, on at least 30 per cent, of their profits." 34. thereupon, chapter vi-b was introduced by section 32 of the finance act, 1983 [1983] 142 itr (st.) 34 as follows : 80wa. restriction on certain deductions in the case of certain companies. --(i) notwithstanding anything ..... while making the assessment for this year. interestingly, the department was aware of this position as can be seen from the memorandum explaining the amendment introduced by the finance act, 1989. at para 9.6 above (see page 191 supra), we have set down the amendment providing for the adjustment of amounts transferred from the book profit to ..... the shares were valued in the next year. much was made of the fact that the revaluation was made after the shares have been sold and after the finance act had come into force indicating that the assessee was well aware of the implications of the fresh impost under section 115j. apart from the fact that it is .....
Tag this Judgment!Court : Kolkata
Reported in : [1994]207ITR743(Cal)
..... has also referred to the right under that chapter as a pre-emptive right to purchase properties. these speeches may be considered for ..... co. ltd. v. appropriate authority : [1990]185itr453(cal) and naresh m. mehta v. appropriate authority : [1991]188itr585(mad) ).87. in addition, the finance minister, in justifying the introduction of chapter xx-c, in the long-term fiscal policy, has described the right of the government as a pre-emptive right of purchase. this was followed by the ..... budgetary speech at the time of introduction of the finance bill, 1986, containing the proposal to introduce chapter xx-c in the act, in which the finance minister .....
Tag this Judgment!Court : Kolkata
Reported in : (1992)2CALLT402(HC)
..... list and therefore their case could not come within the quota of selection grade posts. the petitioners had been recruited as direct sub-inspectors according to rule 3 of chapter xv of the police regulation, calcutta, and on appearing before the selection board for interview they are required to qualify in written test in essay writing in english and ..... principle underlined article 14 must characterise every state action whether it be under authority of law or in exercise of executive power (vide maneka gandhi v. union of india), : [1978]2scr621 . in the light of the discussion made hereinbefore it is quite clear that the petitioners are performing same and similar duties as the private-respondents nos. 5 to 12 ..... absolute with the aforesaid direction. there will be no order as to costs.10. all parties including the chief secretary to the government of west bengal and the finance secretary of the department of finance shall act upon the signed copy of the operative portion of this judgment. .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1992Cal283,(1992)2CALLT96(HC)
..... for, if he suit had come up for hearing immediately afterits filing. it is not perhaps inappropriate to mention that the same could have happened under the provisions of chapter xiiia of the rule on original side of this court.14. the case reported in : air1926mad594 was relied upon in the above regard. a learned single judge decided ..... reference to them should be necessary.15. with regard to amendment, one supreme court case was relied upon, i.e., the case of ganesh trading reported in : [1978]2scr614 and reliance was placed upon paragraph 5 of the report. nothing appears from a whole reading of the case to throw any doubt upon the validity of the amendments ..... the learned commissioner's report be made and published within a period of six months from date hereof.22. all parties the learned commissioner and the department will act upon a signed copy of the minuted portion of this judgment and decree upon the undertaking of the plaintiffs advocate-on-record to have a decree completed in the .....
Tag this Judgment!Court : Kolkata
Reported in : (1992)2CALLT106(HC)
..... roy referred to the provisions of paragraph 2.1(iii)(,b) of the brochure which reads as follows :-'2.1 : subject to exemptions and exclusions referred to chapter 3, the following reservations are in force in favour of the scheduled castes and scheduled tribes in filling vacancies in posts and services under the government of india ..... sought to be advanced is that nationalised banks are not bound by the directions given by the ministry of finance, (banking division), government of india, unless such directions are given under section 8 of the nationalisation act, and that there is no provision for reservation in the policy of the government with regard to group ..... to complete the backlog of unfilled reserve quota available to the scheduled castes and scheduled tribes officers in the promotional post, with effect from 1st january, 1978.12. it has also been alleged in the writ application that despite the representation made by the general secretary of the petitioner no. 1 association on .....
Tag this Judgment!Court : Kolkata
Reported in : (1992)1CALLT77(HC),1991(2)CHN321,[1994]80CompCas81(Cal),1992CriLJ1448
..... the nine months period ending on march 31, 1988, and the various statements, details and information bearing the initials of t.k. sen gupta, the then finance director of gl which had been sent and furnished by s. coomar, deputy secretary of geci and also the representations regarding performance of gl during the last three ..... in maharashtra on september 7, 1957, under the name hindoo light-ing industries pvt. ltd. which was changed to 'genelec limited' with effect from january 16, 1978. geci acquired shares in gl in 1963 when the shareholding was substantially increased and gl became a subsidiary of geci in 1965. gl issued capital to the public through ..... 'geci') is one of the subsidiaries of gec plc. in which gec plc. holds 67 per cent. of its equity shares, registered in india under the companies act having its registered office at magnet house, 6, chitta-ranjan avenue, calcutta. it manufactures sophisticated/high tech electrical equipment. genelec limited (hereinafter referred to as 'gl') .....
Tag this Judgment!Court : Kolkata
Reported in : (1991)2CALLT267(HC)
..... abolishing the supervisory jurisdiction of the high court over all administrative tribunals. the pre-1976 position has, however, been restored by the 44th amendment act, 1978, so that all statutory or quasi-judicial tribunals other than military tribunals are again brought under the supervision of the high court. hence the decision in the ..... to participate in the proceeding with evidence at his option. the procedure adopted by the learned rent controller does not even remotely comply with the provision's of chapter-xx of the criminal procedure code. the procedure adopted is also against the principle of natural justice. it is inconceivable that the trial in respect of an offence under section ..... to follow, as nearly as may be, the procedure laid down in the code of criminal procedure for trial of the cases. the procedure laid down under chapter xx of the code relating to the trial of summons cases by the magistrate will apply to cases under section 31 of the west bengal premises tenancy .....
Tag this Judgment!Court : Kolkata
Reported in : 1992(57)ELT674(Cal)
..... only exception is when the government, as a conscious decision, makes it clear in the statute itself (section notes, chapter notes, headings and sub-headings) that a particular entry does not permit the presence of any other textile material in ..... 1990 circular no. 25/90-cx. 1 (hereinafter referred to as the said circular) was issued by the ministry of finance, government of india to'all principal collectorsall collectors of central exciseall collectors of central excise & customsall collectors of central excise & ..... a burden on him.' (v) union of india v. elphinstone spg. & wvg. mills co. ltd. reported in 1978 (2)eltj680at.j684:'the trade notices have no statutory effect. it is a matter of regret that senior officers of the ..... administrative circulars and/or instructions can grant such relief and when they do so the taxing authorities are bound to act in accordance with such instructions and circulars.14. the respondents have contended :(i) while functioning quasi-judicially officers should .....
Tag this Judgment!Court : Kolkata
Reported in : [1992]197ITR462(Cal)
..... the commissioner and the judge, and for substantially the same reasons, i would answer the first question in favour of the taxpayer company.schedule 12 to the finance act, 1973i have already anticipated my answer to the second quetion. once the legislative purpose underlying section 28 and part i of schedule 12 is understood - and ..... though not legally or equitably owned by a person, was nevertheless in that persons full possession and control, such as a charterer by demise. in i. congreso del partido [1978] q.b. 500, robert goff j. declined to follow brandon j.s decision. he held, at p. 538, that 'beneficially owned' referred only to equitable ownership ..... start by setting out for convenience the statutory provisions relevant to both question. i start with the act of 1970. section 258 provides :'(1) relief for trading losses ... may in accordance with the following provisions of this chapter be surrendered by a company (called the surrendering company) which is a member of a group of .....
Tag this Judgment!Court : Kolkata
Reported in : (1991)2CALLT287(HC),1992(57)ELT373(Cal)
..... public interest so to do, hereby exempts the goods specified in column (2) of the table hereto annexed and falling under chapter 39 or 73 or 84 or 90 of the first schedule to the customs tariff act, 1975 (51 of 1975), when imported into india for use in processing/packaging of food articles, from-788 section xvi.ch ..... was not entitled to exemption under the said notification. furthermore 'food articles' has not been defined in the act and as observed by supreme court in union of india and ors. v. tata iron and steel co. ltd. reported in : 1978(2)elt439(sc) :'in absence of any clear criterion to determine what is skelp and not strip, no ..... case the supreme court was called upon to consider whether non-alcoholic beverage base was food within the meaning of a notification issued under the central excise & salt act 1944. the court only considered whether non-alcoholic beverage base was a food product or food preparation covered by the exemption notification in that case. the supreme court was .....
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