Court : Kolkata
Reported in : [1973]32STC171(Cal)
..... , 1957, the commercial tax officer, lyons range charge, calcutta, issued a notice in form no. vi under sections 11 and 14(1) of the bengal finance (sales tax) act, 1941, to the chief commercial superintendent, south eastern railway, directing him to produce on 12th november, 1957, the books of accounts and other documents for the ..... foregoing section, rendering the surplus, if any, of the proceeds of the sale to any person entitled thereto.6. section 71 deals with carriage of passengers. chapter via deals with certain limitations on the railway servants which are not relevant. the other provisions are not relevant for the purpose of this case. therefore, as ..... would be necessary to refer to certain relevant provisions of the statute. section 7 of the indian railways act, 1890, gives certain authority to railway administration to execute certain works. there are other provisions in chapter iii, which authorise certain incidental works to be done by the railway for the purpose of carrying on .....
Tag this Judgment!Court : Kolkata
Reported in : [1974]97ITR405(Cal)
..... to deal with in the aforesaid decision, corresponded to clause (a) of section 49a of the indian income-tax act, 1922, as amended by the finance act, 1953, while section 49aa corresponded to clause (b) of the instant act. it was observed by the division bench that section 49a, which the court had occasion to deal with, provided ..... of the present section 49a, it is necessary to mention, corresponded to section 49a before the amendment by the finance act, 1953. clause (b) of the present section 49a corresponded to section 49aa before the amendment by the finance act, 1953. section 49a provided as follows :'49a. agreement for granting relief in respect of double taxation or for ..... as may be necessary for implementing the agreement. ' 7. it is to be mentioned that at that time the said clauses were contained in a chapter dealing with refund, which was chapter vii. the heading of the clause, as would be apparent, postulated that it was dealing with two kinds of subjects, viz., it was dealing .....
Tag this Judgment!Court : Kolkata
Reported in : 78CWN115,[1974]93ITR96(Cal)
..... contentions of the parties it is necessary to examine the relevant sections of the act and the scheme framed thereunder. the finance act, 1965, has introduced a new scheme of tax credit certificate and the provisions relating thereto are embodied in chapter xxiib of the act. section 280zb provides for the grant of a tax credit certificate for increased ..... particular variety or quality of paper which constitutes a different class of goods manufactured by the petitioner. the expression 'goods' has not been defined in chapter xxii-b of the act but clause 2(h) of the scheme defines 'goods' to mean any excisable goods in respect of which a tax credit certificate can be granted ..... which can ordinarily come to the market to be bought and sold. it is also to be noticed that the first schedule to the central excises and salt act, 1944, enumeratesdifferent items, which give the descriptions of the excisable goods of each item. although the description of the goods is of a generic nature, there .....
Tag this Judgment!Court : Kolkata
Reported in : [1977]47CompCas689(Cal)
..... programme for their staff because the major resources for these institutions will have to be their skill and expertise.'34. the said report in its introduction in chapter 1 has given a genesis of the banking commission and has reviewed the growth and development of banking business in india and the previous report in 1931. ..... that there is an implied power of adjournment of a meeting. he also referred to crew, the conduct of and procedure at public, company and local government meetings, chapter 18, page 155 and also frank shacketon's the law and practice of meeting, 5th edition, page 58 and palmer's company law, 21st edition, page 486 ..... matter. he further submitted that the idea that unless a company has vast resources, it cannot act as a financial institution is misleading and unreal and is not the proper approach to the problem. he submitted that apart from financing, the merchant-banking organisations render various types of advice to their constituents which are very paying propositions .....
Tag this Judgment!Court : Kolkata
Reported in : 78CWN561,[1974]96ITR562(Cal)
..... , in respect of the amount of tax payable under the said finance act and the provisions contained in section 220(2) of the said act can be invoked only by the commissioner of income-tax and none else.3. provisions of chapter xvii-d of the income-tax act, 1961, shall be applicable in a voluntary disclosure, under sub-section (7)(a) of ..... subsection (2) of section 220 of the act, which is in chapter xvii-d. under sub-section (3) of section 220, discretion has been conferred upon the income-tax officer to allow ..... section 24 of the finance (no. 2) act of 1965. payment of interest is provided in .....
Tag this Judgment!Court : Kolkata
Reported in : [1975]45CompCas229(Cal),78CWN893,[1975]99ITR211(Cal)
..... asset by the amalgamating company to the amalgamated company if the amalgamated company is an indian company'. this clause was inserted by section 19 of the finance (no. 2) act, 1967, with effect from 1st april, 1967. mr. bajoria, learned counsel for the assessee, contended that the insertion of this clause was sufficient ..... companies act, 1956, specifically provides that shares or other interests of any member in a company shall be ..... not choses-in-action. under section 2(vi) of the sale of goods act, 1930, shares are'goods' and those are movable properties and not actionable claims. section 137 of the transfer of property act expressly excludes shares from chapter vii of the act which, deals with transfer of actionable claims. moreover, section 82 of the .....
Tag this Judgment!Court : Kolkata
Reported in : 1978(2)ELT96(Cal)
..... * * *6. the assistant collector, central excise, calcutta vi division in his order, dated the 26th may, 1971, has referred to the special procedure under chapter viia of the central excise rules, 1944 according to which the manufacturer determined the duty on the basis of the value approved by the central excise authority and cleared ..... and several other reported cases that price of sales to wholesale dealers would not represent the wholesale price for the purpose of section 4(a) of the act, merely because the manufacture had entered into an agreement with them stipulating for commercial advantages. mathew, j. observed that 'if a manufacturer entered into agreement ..... termed the 'wholesale cash price.'methew, j further observed :'excise is a tax on the production and manufacture of goods . . .' section 4 of the act therefore provides that the real value should be found after deducting the selling profits and that the real value can include only the manufacturing cost and the manufacturing .....
Tag this Judgment!Court : Kolkata
Reported in : 1978(2)ELT568(Cal)
..... item no. 51 by notification issued on may 29, 1971 within the purview of central excises and salt act, 1944. by the said notification 10% ad valorem excise duty on the said two categories of goods was levied under the finance act of 1971 in as much as the said goods were manufactured with the aid of power. since the ..... the basis of the assessees own representation on payment of excise duty under the physical control scheme or the adjustment of the excise duty against its current account under chapter vii-a under the self removal scheme. the excise officers passed their final orders of assessment and collected the excise duty in exercise of their jurisdiction to assess ..... v voltas limited (supra) to the facts of the petitioners case in three other matters that is messrs electric lamp . v collector of central excise, calcutta and orissa and ors. 1978 elt (84) and also dunlop (india) ltd. v collector of central excise, west bengal and ors. (matter no. 117 of 1973) and east anglia plastics ltd.. v .....
Tag this Judgment!Court : Kolkata
Reported in : 1978(2)ELT84(Cal)
..... central excise rules. clearance of the manufactured goods out of the factory or place of manufacture or production should not be stopped if the necessary conditions in chapter viia are complied with. to this extent, the contention of mr. roy chowdhury should be accepted. but as discussed earlier the facts in the instant ..... . collece-tively and factually the petitioner company itself is a subsidiary company of the said four alleged customer companies, though strictly under the indian companies' act the petitioner company may not be described as such the learned advocate general after distinguishing the facts in the said supreme court decision in a.k. roy ..... committee and also the supreme court and submitted that post-manufacturing expenses or post-manufacturing profits are not assessable under section 4 of the said excise act. the respondent's contention that the ex-factory wholesale cash price is not ascertainable in as much as the internal arrangement or secret argeement between the .....
Tag this Judgment!Court : Kolkata
Reported in : [1978]111ITR614(Cal)
..... 1959 the structure of indian taxation regarding the grossing up of dividends was radically changed and by the finance act, 1959, the system of grossing up of dividends (under sections 16(2) and 18(5) of the 1922 act) was abolished and intercorporate dividends became liable to income-tax at each stage. thus, the dividends passing ..... s representative, with the income-tax officer concerned regarding the said loan transactions leading to the transfer of the said shares under the arrangement.16. thereafter, another chapter was opened by the income-tax officer by successive notices being served, the first was on the 29th of march, 1967, being the notice under section 16 ..... -tax officer had no difficulty to issue the said notice giving practically the same reason minus the clause of the memorandum of the appellant which empowers the company to finance, inter alia, its associated companies. the supreme court decision in kishan prasad & co. ltd. v. commissioner of income-tax : [1955]27itr49(sc) , .....
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