Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (2007)104ITD249Cal
..... the a.o. has added the provisions for doubtful debts after taking into consideration the relevant facts and the legal interpretation as laid down in income tax act and companies act and by following the decision of the hon'ble madras high court in case of beardsell ltd. (supra) and the decision of this tribunal in ..... mentioned. ld. senior counsel has pointed out that the current liabilities and provisions have been defined in a broader way in schedule-vi of the companies act wherein the nature of liabilities and provisions along with the contingent liability has clearly been mentioned and nowhere provision for bad and doubtful debts appeared in such ..... provision for bad and doubtful debts can be held as unascertained liability. he has filed detailed paper book in which he has annexed extract from the companies act and the extract of various publications such as dictionary for accountants, terms used in financial statements, text books on accountancy, accounting standard announced by i.c.a .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (2006)105TTJ(Kol.)543
..... haque that the ao has added the provisions for doubtful debts after taking into consideration the relevant facts and the legal interpretation as laid down in it act and companies act and by following the decision of the hon'ble madras high court in case of beardsell ltd. (supra) and the decision of this tribunal in ..... provision for bad and doubtful debts can be held as unascertained liability. he has filed detailed paper book in which he has annexed extract from the companies act and the extract of various publications such as dictionary for accountants, terms used in financial statements, text books on accountancy, accounting standard announced by icai, etc ..... mentioned. learned senior counsel has pointed out that the current liabilities and provisions have been defined in a broader way in schedule vi of the companies act wherein the nature of liabilities and provisions along with the contingent liability has clearly been mentioned and nowhere provision for bad and doubtful debts appeared in .....
Tag this Judgment!Court : Kolkata
Reported in : 2007(3)CHN287
..... the resolution of the shareholders of descon in its extraordinary general meeting held on 9th june, 2006. under the provisions of section 81(1a) of the companies act, 1956 the shareholders. mandate expressed through a special resolution held in a properly convened meeting would, under normal circumstances, the sole determinant for such a step ..... and its case has already been referred to the board for industrial and financial reconstruction (bifr), constituted under the provisions of sick industrial companies (special provisions) act, 1985 and the petitioner lacked funds necessary for acquiring the shares of descon, and they would not be able to fulfil the obligation arising out of the ..... such equity shares. the reason for this proposal, as it appears from the explanatory statement issued by descon in pursuance of section 173(2) of the companies act 1956, is to fund various projects of the company. this resolution, it appears, has been passed on 9th june, 2006 by the shareholders of descon. .....
Tag this Judgment!Court : Kolkata
Reported in : 2007(4)CHN645,2007CriLJ434
..... curiously enough, appellant did not discharge this onus and naturally having regard to the prosecution evidence and having regard to the specific provision of section 113b of the evidence act, we are constrained to hold that the housewife did not meet the death accidentally and when the learned trial court has already ruled out the case of murder, ..... m.p. reported in 2004 scc (criminal) 671 : air 2005 sc 1411, the hon'ble court having regard to the provision of section 113b of the evidence act together with section 304b of the indian penal code observed that if accused raises the question of accidental death, whereas all the ingredients of section 304b are satisfied by ..... housewife raises serious doubts about the conduct of the appellant.20. the learned advocate contends that keeping in view the provision of section 113b of the indian evidence act along with section 304b of the indian penal code, if it is proved from evidence that the death took place within seven years of marriage and there .....
Tag this Judgment!Court : Kolkata
Reported in : AIR2007Cal241
..... one application before the said tribunal for recovery of rs. 11 crores and odd under section 19 of the recovery of debts due to banks and financial institutions act, 1993 against the present petitioners and others.ii) the present petitioner filed written statement along with counter claim.iii) while the said application was pending, the ..... following grounds:i) that the learned appellate authority committed error in allowing the appeal ignoring the fact that rule of natural justice has been violated by the act of the bank.ii) that the appellate authority ignored the fact that the present petitioner should have been given an opportunity to place their case before its ..... also the interest of other sister concerns of the present petitioner would be affected.13. it is not disputed that in the application under section 19 of the act before the tribunal, the bank did not disclose that the present petitioner was declared a willful defaulter previous to filing of the said application. mr. mitra .....
Tag this Judgment!Court : Kolkata
Reported in : 2007(3)CHN345
..... the aforesaid contentions and submits that the aforesaid submissions of the respondent authorities cannot be accepted since the same runs counter to section 6 of the said act ii of 1948 itself which contemplates release from requisition by the government.10. it has been argued on behalf of the appellants that in view of the ..... anr. v. b.e. billimoria and ors. reported in : air2003sc4368 , wherein the hon'ble supreme court in paragraphs 22 and 23 observed as follows:22. the said act being an expropriatory legislation is required to be construed strictly. [see dlf qutab enclave complex educational charitable trust v. state of haryana : [2003]2scr1 ].23. in bhavnagar ..... land by simply issuing an order under section 3(1) and then acquire the requisitioned land by publication of a notification under section 4(la) of the said act. referring to article 300a of the constitution of india, mr. mukherji submits that an expropriating statute is required to be strictly construed. in other words, a .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (2008)110ITD337(Kol.)
..... the order of the id. commissioner (appeals) and direct that the income from mall management/agency commission be assessed as business income under section 28 of the act. since the assessing officer did not find the claim for allowance of any of the expenses as inadmissible, he is directed to allow deductions of the said ..... gauhati high court, in the case of bongaigaon refinery & petrochemicals ltd v.union of india he contended that the jurisdiction exercisable under section 263 of the act being supervisory in nature, permitting suo motu review of any assessment already made, the statutorily enjoined sanctions circumscribing it have to be rigorously construed. the learned ..... the relevant judicial pronouncements, the court held that the rental income derived from the lease is assessable as business income under section 10 of the 1922 act. the learned counsel argued that the main consideration of the court in the said case was whether the lease rent received was from commercial utilisation of .....
Tag this Judgment!Court : Kolkata
Reported in : 2008(1)CHN614,[2008(117)FLR951]
..... granted exemption towards donation to be collected by the petitioners under section 80g of the income-tax act, 1961.13. he also submitted that 41 employees filed an application jointly who were added as parties to the writ petition and they have also pointed out ..... submitted that the sister organization of the said society is also a charitable organization and they were excluded from the applicability of the provisions of the said act by the parties.12. he further pointed out that the said society is a charitable organisation which has no profit earning motive. the income-tax authorities has ..... the writ petitioners and there was no notification published by the central government in the official gazette affecting the writ petitioners' establishment within the arena of the said act.7. it is further the case of the writ petitioners that the bengal services society (hereinafter referred to as 'the said society') is a welfare society .....
Tag this Judgment!Court : Kolkata
Reported in : 2007(3)CHN640
..... scheme and to submit the same for approval of the state government. thereafter, the scheme is to be published. section 27a of the 1972 act inserted in the act by amendment act of 1993 it was inserted to assist the housing board in execution of the housing scheme as the housing board was facing tremendous financial crunch. ..... report, if may, made under section 5a(2). it is explicitly made clear that such declaration shall be subject to the provisions of part vii of the act which bears the chapter heading 'acquisition of land for companies'. thus, section 6 reiterates the apparent distinction between acquisition for a public purpose and acquisition for a ..... to 4 were informed that since the actual ownership and names of awardees could not be ascertained, the compensation amount has been deposited under section 31(2) of the act with the learned special l. a., judges' court, alipore. these respondents, therefore, filed writ petition no. 10061(w) of 2004 challenging the acquisition proceedings. in .....
Tag this Judgment!Court : Kolkata
Reported in : (2007)3CALLT503(HC),I(2008)DMC388
..... the ground specified in clause (i) of sub-section (1) of section 13, the petitioner has not in any manner been accessory to or connived at condoned the act or acts complained of, or where the ground of the petition is cruelty, the petitioner has not in any manner condoned the cruelty.31. in our considered view, the ground ..... cannot constitute the ground of cruelty for which a decree can be passed assaulting the matrimonial tie between the parties, as we are of the view that the said acts of cruelty were also condoned by the respondent (husband) who by his letters dated 15th november, 1998 requested the appellant (wife) to come back to the matrimonial house ..... ) filed a suit for divorce against the defendant/appellant (wife) on the ground of cruelty and desertion under section 13(1)(ia) and (ib) of the hindu marriage act, 1955.2. the case which was made out by the plaintiff/respondent (husband) in the said suit, is narrated briefly hereunder:3. the marriage between the parties was solemnised .....
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