Court : Kolkata
Reported in : [1972]86ITR370(Cal)
..... , even if the qualitative characteristics of section 10(2)(xv) justify any item of expenditure as wholly and exclusively laid for the business of the company, the income-tax officer is enjoined and empowered to consider the reasonableness or otherwise of the quantum or the amount expended on the item, if the item of expenditure comes within the purview of section 10(4a) and the income-tax officer is not to allow the entire amount so spent, if the provisions of section 10(4a) are attracted and the sum spent comes within the mischief of the said ..... any special exertion in going or residing away from calcutta for any of the purposes of the company or in giving special attendance to the business of the company as a member of the committee of directors, the company may remunerate the director so, doing either by a fixed sum or by a percentage of profits or otherwise as may be determined by the directors, and such remuneration may be either in addition to or in substitution for his or her share in the remuneration above provided for the directors.' 5. on the basis of the articles, the directors have been receiving their ..... on the application of the department the tribunal on the aforesaid facts referred the following question under section 66(1) of the income-tax act :'whether, on the facts and in the circumstances of the case, the tribunal was right in holding that the disallowance of the ..... jagadamba kumari devi19,2004,11923,319sri ..... jagadamba kumari devi19,2004,58923,789sri .....
Tag this Judgment!Court : Kolkata
Reported in : [1977]47CompCas689(Cal)
..... movable and immovable, cash balances, reserve funds, investments and all other rights and interests in or arising out of such property as were immediately before the commencement of the said banking companies (acquisition ani transfer of undertakings) act, 1970, under the ownership, possession, power or control of the petitioner-bank in relation to the undertaking, whether within or without india and all books of accounts, registers and records and all other documents of whatever nature relating thereto including all ..... however, the said resolution has been passed by the statutory majority and the scheme of amalgamation appears to me to be reasonable, feasible and conducive to the interest of the shareholders present and voting in the meeting and there is substantial compliance with the statutory requirements of serving notice on the shareholders and setting out the statements as required under section 393 of the companies act, 1956, in the said notice which has been settled by the registrar of this court under the companies (court) rules.60. ..... niranjan das mohan and others, opposing the application for sanction of the scheme of amalgamation submitted, firstly, that the chairman of the meeting had no power of adjournment and he referred to regulation 53a of table a to the companies act, 1956, and regulation 91 of the articles of association of the petitioner-bank and also drew my attention to buckley on the companies acts, 13th edition, page 334, wherein a decision in catesby v. .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1983Cal61
..... it merely contemplates that in the event of requisition of a premises the various advantages and obligations to which the landlord and the tenant are subjected under the said act in respect of tenancies governed by the said act would not apply in the event of requisition of such premises by the government no tenant pays or is liable to pay rent to his landlord by virtue of the provisions of the west bengal premises tenancy act, 1956, but such obligation is under a contract between the two independently of the said act. ..... for example, if a property is requisitioned for an individual or an organization for establishment therein of a hospital or some other benevolent or charitable institution which is to benefit the public in general or a large section of them the order of requisition, in such circumstances, might very well be a public purpose ..... in our opinion even if a requisition is made ostensibly for a private organization but if the ultimate purpose for such requisition is to benefit the public in general or a substantial section of the public it may in such circumstances be a public purpose. ..... he has further stated that he made a representation to the minister-in-charge, commerce and industry, government of west bengal on 10th march, 1980 stating, inter alia, that caxton was engaged in the services of the government of india, government of west bengal, government of tripura, mizoram and bhutan and that caxton and co. ..... the requisition for a private organization cannot be a public .....
Tag this Judgment!Court : Kolkata
Reported in : 1989(22)ECC16,1991(55)ELT518(Cal)
..... view under section 14 of the act; or(b) on its own motion by the high court under section 15(1) of the act; or(c) on a motion founded on a petition presented by the advocate general under section 15(1)(a) of the act; or(d) on a motion founded on a petition presented by any other person with the consent in writing of the advocate general under section 15(1)(b) of the act; or(e) on a reference made to the high court by the subordinate courts under section 15(2) of the act, containing the following particulars : -(a) a brief statement of the case :(b) the particulars of the contumacious acts;(c) name, address and other particulars of the respondents along with the copies of the papers relating to contumacious ..... north eastern tobacco and thereby, the defendant opposite parties before him were restrained till the final hearing of the proceedings and an order on the concerned temporary injunction petition dated 16th december 1987 was made, from interfering with the working of the plaintiff petitioners' cigarette factory situated in the state of mizoram and marketing of the goods produced in that state in any manner prejudicial to proper and final adjudication of the proceedings. ..... he further stated that during the speech, he made comments on the accountability of the organs and theoretical implications thereof.the minister has further reiterated with utmost emphasis at his command that he intended no disrespect to any of the institutions or its functionaries much less this hon'ble court .....
Tag this Judgment!Court : Kolkata
Reported in : (1997)1CALLT286(HC),[1996]222ITR371(Cal)
..... the income-tax rules, 1962, an assessee is entitled to claim depreciation allowance in respect of depreciation of buildings, machinery, plant or furniture as may be included at the percentages specified in the second column of the table in part i of appendix i to the 1962 rules on the actual cost or, as the case may be, the written down value of such assets aforesaid for the purposes of the business or profession of the assessee at any time during the ..... the question reads as under : 'whether, on the facts and in the circumstances of the case and on a correct interpretation of the relevant rules for the allowance of extra-shift allowance under the income-tax rules, 1962, the tribunal was justified in law in holding that data processing machine, central air-conditioning plant and air-conditioners are entitled to extra-shift allowance though the words nesa (no extra shift allowance) are inscribed against such of the above machinery or plant in the ..... disallowed in respect of such plants and machinery, despite the aforesaid claim of the assessee being entitled to, if the inscription nesa is found incorporated and mentioned against the relevant entry relating to such plant and machinery in part ..... 2004 and 2005 of 1989 relating to the assessment years 1984-85, 1985-86 and 1986-87 and find that the reasoning given by the tribunal for allowing extra-shift allowance in respect of data processing machines, air-conditioners and air-condition plants is wholly erroneous and patently contrary to the .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (2004)89ITD125(Kol.)
..... the word 'firm' has been defined in section 2(23) of the act which reads as under :- "(23) "firm", "partner" and partnership" have the meanings respectively assigned to them in the indian partnership act, 1932 (9 of 1932); but the expression "partner" shall also include any person who, being a minor, has been admitted to the benefits of partnership;" the firm has also been included in the definition of 'person' in section 2(31) of the act. ..... a partnership agreement is the source of a partnership; it also gives expression to the other ingredients defining the partnership, specifying the business agreed to be carried on, the persons who will actually (sic) business, the shares in which the profits will be (sic) and several other considerations which constitution (sic) organic relationship. ..... allowance in any previous year owing to there being no profits or gains chargeable for that previous year, or the profit or gains chargeable being loss than the allowance, then, subject to the provisions of sections 72(2) and 73(3), the allowance or part of the allowance to which effect has not been given, as the case may be, shall be added to the amount of the allowance for depreciation for the following previous year and deemed to be part of that allowance, or if there is no such allowance for that previous year, be deemed .....
Tag this Judgment!Court : Kolkata
Reported in : I(2004)BC205,(2003)2CALLT604(HC)
..... the following observations made in the aforesaid decisions are a sound reminder (para 109 of air):we also give a note of caution to the effect that the power of quashing a criminal proceeding should be exercised very sparingly and with circumspection and that too in the rarest of rare cases; that the court will not be justified in embarking upon an enquiry as to the reliability or genuineness or otherwise of the allegations made in the fir or the complaint and that the extraordinary or inherent powers do not confer an arbitrary jurisdiction on the court to act according to its ..... it is further alleged that the accused persons misappropriated the amount which was payable to the complainant and that all the accused have acted in collusion with each other in furtherance of their common intention after making deep rooted conspiracy and abetted the offence inasmuch as they failed to prevent bouncing of the cheque or to make payment subsequently. ..... act is not sufficient to proceed against the accused but the substance of the allegation read as a whole should answer and fulfill the requirements of ingredients of the offence for being proceeded against such persons who are arrayed as accused.12. ..... act is concerned, the five ingredients which are components of the offence are (i) drawing of a cheque; (ii) presentation of a cheque; (iii) returning of cheque unpaid; (iv) giving notice to the drawer demanding payment and (v) failure of the drawer to make payment.11. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (2004)89ITD44(Kol.)
..... (vi) section 14a was, therefore, inserted so as to clarify the said intention of the legislature since the inception of the income-tax act, 1961 and to set the existing controversy on this issue at rest and not to unsettle the cases by raising the issue afresh.the insertion of section 14a with retrospective effect is the serious attempt on the part of the legislature not to allow the deduction in respect of any expenditure incurred by the assessee in relation to income, which does not form part of the total income under the act, against the taxable income. ..... arising from shares held as stock-in-trade is business income in the sense that the dividend is realised from the trading asset, but, at the same it has to be brought in mind that part of the business income in the nature of dividend is not includible in the total income by virtue of the same being exempted under section 10(33) of the act, and as such it is not understood as to why the interest incurred to the extent it is capable of being regarded as expenditure in relation to part of the business income in the nature of dividend should not be adjusted against exempted dividend .....
Tag this Judgment!Court : Kolkata
Reported in : 2004(1)CHN448,2004(28)PTC474(Cal),[2003]47SCL445(Cal)
..... but is presented and treated differently so that the subsequent work becomes a completely new work ..... in the latter case there is no violation of the copyright..in other words, in order to be actionable the copy must be a substantial and material one which at once leads to the conclusion that the defendant is guilty of an act of piracy.one of the surest and safest tests to determine whether or not there has been a violation of copyright is to see if the reader, spectator or viewer after having read or seen both the works is clearly of the opinion and gets an unmistakable impression that the subsequent work appears to be a copy of the original.where the theme is the same .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Reported in : (2004)91ITD153(Kol.)
..... benefit need not be oaf an everlasting character, it should not be so transitory and ephemeral that it can be terminated at any time at the violation of any of the parties.from the above tests, certain principles of fundamental character may be summarised as under: (1) if the expenditure is for the initial outlay or for acquiring or bringing into existence an asst or advantage of an enduring benefit to the business that is being carried on, or for extension of the business that is going on, or for a substantial replacement of an existing business assets, it would be capital expenditure. ..... ltd has been incorporated with the prime purpose of specializing in the offering of training courses in the field of financial services and other academic activities relating to financial services such as offering of distance education courses, organizing conferences in the outside india, developing training facilities and classrooms etc. ..... it would be pertinent to mention that profits and gains of business are required to be computed in accordance with the provisions of sections 30 to 43 d as provided under section 29 of the income-tax act, 1961. ..... , a company incorporated under the companies act, 1956 and having its registered officer at 9/12 lal bazar street, e. ..... ltd, a company incorporated under the companies act, 1956 and having its registered officer at 9/12 lal bazar street, e. .....
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