Court : Kolkata
Decided on : Feb-12-1979
Reported in : [1980]121ITR727(Cal)
Dipak Kumar Sen, J.1. This reference arises out of the income-tax assessment of General Assurance Society Ltd., Calcutta, the assessee, in the assessment year 1957-58, the relevant previous years being the one ended on the 31st December, 1956. The facts found and/or admitted in these proceedings are as follows : Till 1956, the assessee carried on business as acomposite insurer, and life insurance was part of its business. Under theLife Insurance (Emergency Provisions) Ordinance, 1956, all life insurance business vested in the Central Government on the 19th January, 1956, pending nationalisation thereof. Such business was ultimately nationalised under the Life Insurance Corporation Act, 1956, on the appointed date, i.e., the 1st September, 1956. As a result, the life insurance business carried on by the assessee was taken over with effect from the said date and under Section 16 of the Life Insurance Corporation Act the assessee was paid a compensation of Rs. 5,95,764.2. In the assessmen...
Tag this Judgment!Court : Kolkata
Decided on : Jul-02-1979
..... corporations, namely, oil and natural gas commission, industrial finance corporation and the life insurance corporation are 'authorities' within the meaning of article 12, delivering the judgment on behalf of himself, chandrachud, j. and gupta, j., the chief justice (as he then was) examined in detail the provisions of oil and natural gas commission act, 1959, the life insurance corporation act, 1956 and the industrial finance corporation act ..... application under article 226 of the constitution of india is directed against certain actions taken by the respondent no. 3. the new india assurance co. ltd. (hereinafter referred to as 'the respondent-company') in respect of recruitment of certain persons2. the facts of this case, so far as they are relevant for the purpose of disposal of this case, are as follows:the respondent no. 2, general insurance corporation of india, (hereinafter referred to as the respondent-corporation) was formed as a government company in accordance with the provisions of the companies act pursuant to section 9 of the general insurance business nationalisation act, 1972 (hereinafter referred to as ('the said act') . the respondent-corporation ..... class restaurant and two snack bars at the international airport at bombay was issued by the 1st respondent which is a corporate body constituted under the international airport authority act 43 of 1971. the notice stated in the clearest terms in paragraph (1) that sealed tenders in the prescribed form are hereby invited .....
Tag this Judgment!Court : Kolkata
Decided on : Feb-20-1979
Reported in : AIR1979Cal243
..... payable and the plaintiff will be entitled to realise the same by sale of the mortgaged property in execution of this decree without any further application therefor and in case of shortfall from the defendant personally.'3. the opposite party having failed to comply with the terms of the decree, the calcutta insurance company limited put the said decree into execution. during the pendency of the execution case the life insurance corporation act, 1956 was enacted and, consequently, the life insurance corporation of india was substituted as the decree-holder in place of the calcutta insurance company limited in sept. 1966. the opposite party made several deposits in the executing court by challans. in all these ..... , the judgment debtor was, therefore, to state at the time of each payment as to whether the amount is paid towards the decretal amount or towards the interest. in para. 11 of the present application under section 115 of the civil p. c. giving rise to this rule, it has been stated that in the books of accounts maintained by the petitioner, the petitioner has calculated interest on the decretal amount, that is, on rs. 43,407/-, after crediting the payments made on different dates by the judgment debtor first towards the interest. the statement in para. 11 clearly shows that by decretal amount', the petitioner .....
Tag this Judgment!Court : Kolkata
Decided on : Aug-16-1979
Reported in : [1981]130ITR710(Cal)
..... section 154 of the said act so as to deduct the amount of the said development rebate allowed but omitted to be deducted in the computation of the said profits and gains eligible for the said special rebate. 10. to appreciate the contentions of the parties raised before us the rele-vantportion of the provisions of paragraph f of part i of the first schedule to the finance act, 1965, is set out below : ' paragraph f in the case of every company, other than the life insurance corporation of india established under the life insurance corporation act, 1956 (31 of 1956 ..... a deductible expenditure in the income-tax assessment or not. as there was no divergence of views on the interpretation of the said relevant provisions of the finance act, 1965, or of section 80e of the i.t. act, 1961, the said decision has no application to this case. mr. pal contended that the said relevant provisions of the finance act, 1965, did not admit of any divergence of view on its scope and interpretation and the ito failed to deduct the development rebate allowed by him on a ..... that there were no two views either on the date of the order of assessment or on the date when the notice under section 154 was issued by the ito.43. the appellant, therefore, succeeds in this appeal. the appeal is allowed and the decision of the court below is set aside. the notice under section 154/155 of the i.t. act, 1961,ifor the assessment year 1965-66, issued by respondent no. 1 is quashed and the rule is made absolute. 44. on .....
Tag this Judgment!Court : Kolkata
Decided on : Jun-11-1979
Reported in : AIR1980Cal222,84CWN35
ORDERSabyasachi Mukharji, J.1. The question involved in this application under Article 226 of theConstitution, is, whether the petitioner No. 1 is entitled to compensation in accordance with the provisions of the Indian Electricity Act, 1910 for the right of option exercised by the respondents. Originally, in the petition, the petitioners had also challenged the exercise of that option but during the hearing of this application on behalf of the petitioners that challenge was not pressed.2. This application is by two petitioners, one, being Patna Electric Supply Co. Ltd. and another being a director and shareholder of the said company. In order to appreciate the challenge, itmay be necessary to refer to certain facts. It appears that on the 6th Feb. 1924, a licence was granted by the Government of Bihar to M/s. Octavius Steel & Co. Ltd. for the supply of Electrical energy. There was a notification on the 13th Feb. 1924 in respect of grant of the said licence and the said licence was the...
Tag this Judgment!Court : Kolkata
Decided on : May-16-1979
Reported in : AIR1980Cal74,84CWN31
Sudhindra Mohan Guha, J.1. This Rule arises out of an order dated 3-5-75 passed by the learned Subordinate Judge, 5th Court, Alipore (24-Parganas) whereby he held that the payment of Court-fees of Rs. 15/- was sufficient and that the plaintiff need not pay the ad valorem Court-fee.2. The opposite party No. 1 as plaintiff instituted a title suit being T. S. No. 95 of 1970 in the 5th Court of the Subordinate Judge at Alipore against the petitioners and opposite parties Nos. 2 to 10 for a preliminary decree for partition in respect of the suit properties declaring his l/14th share therein upon a declaration that the deed of trust dated 10-2-50 executed by late Bhusan Chandra Bay Sardar was invalid, void and inoperative and did not affect the plaintiff's title and for partition by metes and bounds. It was pleaded that late Bhusan Chandra Ray Sardar, the predecessor-in-interest of the parties died on 23-5-68 and the plaintiff being the eldest son by the predeceased wife was entitled to l/14...
Tag this Judgment!Court : Kolkata
Decided on : Aug-08-1979
Reported in : (1980)16CTR(Cal)75,[1980]126ITR310(Cal)
Chittatosh Mookerjee, J. 1. The Life Insurance Corporation of India was previously the owner of premises No. 4A, Pollock Street, Calcutta, which contained 17 cottahs, 10 chittaks and 30 square feet of land together with several structures standing on portions thereof. The LIC had issued advertisement inviting offers for purchase of the said premises on 30th December, 1974. The LIC had agreed to sell the said premises toB. K. Chirimar, who was the karta of a Hindu undivided family, or his nominee for Rs. 5,04,077 or Rs. 29,000 per cottah whichever was more subject to a marketable title being made out by the vendors. Thereafter, B. K. Chirimar had nominated petitioner No. 1 as the purchaser of the said premises under the aforesaid agreement. On July 30, 1973, the LIC executed a conveyance in favour of petitioner No. 1 transferring the said premises for a consideration of Rs. 5,12,333.30. 2. On 18th February, 1974, the IAC of Income-tax, Acquisition Range-I, as the Competent Authority iss...
Tag this Judgment!Court : Kolkata
Decided on : Feb-22-1979
Reported in : [1980]50CompCas771(Cal)
Ghose, J.1. This application has been made in the appeal that is now pending from an order made in an application under Sections 397, 398, 402, 403 and 406 of the Companies Act, 1956, in the Company Petition No. 392 of 1975. The said company petition was made in regard to the affairs of Debijhora Tea Company Ltd. (hereinafter referred to as the ' said company') and was disposed of by the judgment and order passed by Salil K. Roy Chowdhury J. on March 31, 1977.2. In the interlocutory application made in the appeal for stay of the said order under appeal, dated March 31, 1977, passed by Salil K. Roy Chowdhury J., superseding the board of directors of the company and appointing Mr. T, P. Das as special officer, the appeal court on April 6, 1977, passed, inter alia, the following orders :' The Court: The order of the learned trial judge will remain stayed subject to the following modifications : 1. The special officer, Mr. T.P. Das, appointed by the learned trial judge at the remuneration ...
Tag this Judgment!Court : Kolkata
Decided on : Jul-17-1979
ORDERChittatosh Mookerjee, J.1. The petitioner-company at the material time had a factory at No. 99, Dr. Abani Dutta Road, Howrah. It is undisputed that the Employees' State Insurance Act, 1948 (hereinafter called the said Act) applied to the said factory of the petitioner and the persons employed therein were 'employees' as defined by Section 2(9) of the said Act. The petitioner has claimed that it had been regularly depositing contributions in respect of the 'wages' paid to the said employees in accordance with the provisions of the Employees' State Insurance Act.2. On June 8,1970 there was a Memorandum of Settlement between the petitioner-company and its workmen for resolving outstanding disputes. The Concilliation Officer, Government of West Bengal also signed the said Memorandum of Settlement. It is not necessary for the present purpose to refer to the terms of the said settlement relating to grade, scales of pay, dearness allowance, etc. The Term No. 54 of the said settlement pro...
Tag this Judgment!Court : Kolkata
Decided on : Mar-29-1979
Reported in : [1979]119ITR46(Cal)
Dipak Kumar Sen, J.1. This reference is in respect of wealth-tax assessments of the Imperial Chemical Industries, London, the assessee, in the assessment years 1957-58, 1958-59 and 1959-60. The relevant valuation dates are the 31st December, respectively, in each of the calendar years 1956, 1957 and 1958. The facts found and/or admitted in the proceedings are as follows :2. The assessee is incorporated in the United Kingdom and carries on the business of manufacture of dyestuffs and other chemicals. Imperial Chemical Industries (India) Ltd. (hereinafter referred to as the Indian company), incorporated in India, is the Indian subsidiary of the assessee and the assessee owns the entire share capital of the Indian company. Under an agreement dated the 23rd May, 1953, effective from the 1st January, 1953, the assessee appointed the Indian company as its sole agent in specified territories, including India, in respect of dyestuffs manufactured by the assessee in the United Kingdom on, inter...
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