Court : Kolkata
Reported in : (1990)1CALLT373(HC)
..... :-'the prosecution proposed to be launched under the provident funds and miscellaneous provisions act and employees' state insurance act, are not at the behest of the registrar of companies or the share holders of the company or by a person authorised by central government in that behalf. it was, therefore obvious that such prosecution to be ..... instituted by the officers appointed under the provisions of the statutes other than the companies act cannot be prevented by resort 'to provisions of sub-section (2) ..... payment of any charges payable under any other provisions of this act or of (any scheme or insurance scheme) or under any of the conditions specified under section 17. (the central provident fund commissioner or such other officer as may be authorised by the central government, by notification in the official gazette in this behalf) .....
Tag this Judgment!Court : Kolkata
Reported in : (1991)1CALLT385(HC),1990(2)CHN385,[1990]185ITR453(Cal)
..... and having gone through the impugned orders, this court finds that chapter xxc of the income-tax act consisting of sections 269u to 269uo inserted by the finance act, 1986, mainly deals with purchase by central government of immovable properties in certain cases of transfer. section 269uc envisages restrictions on transfer of immovable ..... property. section 269uc(1) provides, inter alia, that, notwithstanding anything contained in the transfer of property act, 1882, or in any ..... property, the question of filing any statement under section 269uc of the act cannot arise.(3) the appropriate authority, therefore, has to find out whether the central government can purchase the property in question. section 269ui of the act gives power to the appropriate authority to make the investigation. it .....
Tag this Judgment!Court : Kolkata
Reported in : [1991]191ITR419(Cal)
..... ltd., against a decision of the special commissioners. the commissioners held that the taxpayer company was not entitled to claim initial allowances under section 41(1) of the finance act 1971 in respect of two transactions related to two films ('escape to victory' and 'outland'). section 41(1) provides;'subject to the provisions of this chapter, ..... illuminating. first he held that the taxpayer company had invested in victory partnership as a tax deferral scheme : the taxpayer companys investment 'merely provided the finance necessary to enable trading transactions to be entered into. ' since this motivations had not been found by the commissioners to have had any adverse effect on ..... a commercial transaction with a view of profit, can it fairly be regarded as carrying on a trade even if (i) it obtained the necessary finance from investors who were primarily motivated by the hope of obtaining a fiscal advantage rather than a commercial profit and (ii) the transaction itself was deliberately .....
Tag this Judgment!Court : Kolkata
Reported in : 1992(57)ELT674(Cal)
..... 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 & constitution.'7. the said circular after noticing the recommendation of the conference (quoted above) reads as ..... obtained by an assessee, such 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 not allow their judgments to ..... be reduced to a dead letter. at the same time it cannot be lost sight of that several decisions noted above have held that central excise officers acting quasi-judicially must exercise their independent judgment.18. in my view the principles that emerge from the aforesaid decisions read in the light of .....
Tag this Judgment!Court : Kolkata
Reported in : 1992(59)ELT522(Cal)
..... column (3) of the said table, from the whole of the duty of excise leviable thereto, which is specified in the schedule to the central excise tariff act, 1985 (5 of 1986);provided that nothing contained in this notification shall apply to inputs used in or in relation to the manufacture of final ..... schedule to the central excise tariff act,1985 (5 of 1986)notificationno. 452/86-central excises2. in exercise of the powers conferred by sub-rule (1) of rule 8 of the central excise rules, 1944, the central government hereby makes the following amendments in the notification of the government of india in the ministry of finance (department of revenue ..... ) no. 214/86-central excise .....
Tag this Judgment!Court : Kolkata
Reported in : [1994]207ITR743(Cal)
..... the appropriate authority has, therefore, travelled beyond the limits of the prescribed jurisdiction under section 269ud for determining the apparent consideration in directing the purchase by the central government of lot 'a' at an amount which cannot be considered to be equal to the amount of the apparent consideration. the impugned order, therefore, ..... karnataka high court appears to have held that the transferee could not challenge the order of the appropriate authority for purchase of the immovable property by the central government under section 269ud. the facts of that case are somewhat different from those which are being considered by me. an agreement had been entered ..... -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 has also referred to the right under that chapter as a pre-emptive right to purchase properties. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (1993)45ITD22(Kol.)
..... 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 ..... bench shall consist of one judicial member and one accountant member. (3) the president or any other member of the appellate tribunal authorised in this behalf by the central government may, sitting singly, dispose of any case which has been allotted to the bench of which he is a member and which pertains to an assessee whose ..... on september 8, 1992, to take up the matter, the revenue presented a petition dated september 8, 1992, signed by shri s.halder, appellate assistant commissioner, central circle-xii, calcutta, stating that there was no difference of opinion on the point raised in this case, that the decisions so far rendered by the benches of the .....
Tag this Judgment!Court : Kolkata
Reported in : [1994]209ITR412(Cal)
..... from the income-tax department for any particular property sale.'21. he stressed the fact that the new chapter giving the central government the pre-emptive right of purchase was inserted by the finance act, 1986, in implementation of this long-term policy statement. therefore, this shows the legislative intent to make the limitation rigid ..... competent jurisdiction alone can be added to the period of two months. that the rigidity of limitation is a definite and deliberate legislative act is clear from the observations of the finance minister in the long-term fiscal policy announced in december, 1985. in paragraph 5,30 of the said policy statement, the following ..... interest of the petitioner-society. the order could have been unexceptionable if it were the contemplation of the law that the central government would step into the shoes of thelessee and do all acts necessary for specific performance under the lease agreement. that not being possible, the case is not one that the chapter .....
Tag this Judgment!Court : Kolkata
Reported in : (1995)126CTR(Cal)69,[1995]212ITR496(Cal)
..... , 1967. therefore, when the return for the assessment was filed the cash compensatory support must be deemed to have been taxable. it is also said that by virtue of the finance act, 1993, section 143(1a) had been amended so that additional tax can be imposed even if after the adjustment the assessee would suffer loss. this amendment, it is pointed out ..... return as filed, without doubt or debate. this is clear from the language of the section and is supported by the authority as well as the circulars issued by the central board of direct taxes in this connection.27. in the case of khatau junkar ltd. v. k.s. pathania : [1992]196itr55(bom) , a division bench of the bombay high ..... s.r.f. charitable trust v. union of india [1992] 193 itr 95.29. in circular no. 581 (see [1990] 186 itr 2) dated september 28, 1990, issued by the central board of direct taxes, it has been said that the scope of the powers to make prima facie adjustments under section 143(1)(a) is 'somewhat coterminous with the power .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1995Cal169,(1995)1CALLT98(HC)
..... , the question of authority to institute a suit on behalf of a company is not a technical matter. it has, far-reaching effects. it often affects policy and finances of the company. thus, unless a power to institute a suit is specifically conferred on a particular director, he has no authority to institute, a suit on behalf ..... counsel appearing on behalf of the defendant/petitioner relied on the following judgments:--(1917) 1 kb 486 (the king v. the general commissioners for the purpose of the income-tax acts for the district of kensington); : air1982cal412 (prof. a. k. sanyal v. dr. chitta ranjan baisistha).47. the said cases were relied on in support of the ..... these articles, required to be exercised or done by the company in general meeting, subject to nevertheless any regulation of these articles to the provisions of the said act, and to such regulations or provisions, as may be prescribed by the company, in general meeting, but no regulations made by the company in general meeting shall .....
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