...The Judgment of the Court was delivered byDipak Kumar Sen, J.:— This reference arises out of the income-tax assessment of Alkali & Chemical Corporation of India Ltd., Calcutta...) CIT v. National & Grindlays Bank Ltd., [1984] 145 ITR 457; and(d) CIT v. Alkali & Chemical Corporation of India Ltd., [1986...instance of the Revenue is also covered by the decision of the Supreme Court in Lohia Machines Ltd. v. Union of India, [1985] 152 ITR 308...

...(Alkali & Chemical Corporation of India Ltd. v. CIT, [1986] 161 ITR 820). The said order was based on the amended..., question No. 3 is covered by a decision of the Supreme Court in Lohia Machines Ltd. v. Union of India, [1985] 152 ITR 308. Following the...holding that borrowed capital should be included in the capital base for the purpose of relief under section 80J?”2. The controversy raised in question No. 1 is covered by a decision of...

...Chemical Corporation of India Ltd. and their workmen. It says further that it transpires that“Sri Dandasi was transferred from the Fire Station to the Salt Dissolving Plant and not to...Constitutional writ of mandamus to compel the Government to intervene. In this letter, which is described as an order, the Government states that an enquiry was made into the industrial dispute between M/s Alkali...

...appeal against the assessee following the order of the Tribunal in the case of Alkali and Chemical Corporation of India Ltd. where an identical issue came up for consideration before the Tribunal. The...Tribunal held that the ITO was right in rectifying the order under s. 13.3. The reference arising out of the order of the Tribunal in the case of Alkali and Chemical Corporation of India Ltd. came...up for consideration before this court. The decision of this court is in Alkali and Chemical Corporation of India Ltd. v. CIT...

...International Ltd. v. Union of India, 1979 ELT (J625) (Bombay); Indian Tobacco Company Ltd. v. Union of India, 1979 ELT (J476) (Bombay); Indo-National Ltd., Nellore-4 v. Union of India, 1979 ELT (J334) (A.P); Madras Rubber Factory Ltd. v. Union of India, 1979 ELT (J173) (Delhi); Alkali & Chemical Corporation of...India, (1975) Census 101 D (Kerala); Bangalore Belting Co. v. Union of India, 1978 E.L.T (J 561) (Ker.) Indian Tobacco Company Ltd. v. Union of India..., 1978 ELT (J137); Union of India v. Jyoti Ltd., Baroda, 1978 ELT (J238) (Patna) Madras Rubber Factory Ltd. v. Asstt...

...]. Alkali and Chemical Corporation of India Ltd. v. Seventh Industrial Tribunal, West Bengal and Ors. (1964) II L.L.J. 568, Mettur..., vide Alkali and Chemical Corporation of India Ltd. v. Seventh Industrial Tribunal, West Bengal and Ors.(1... http://JUDIS.NIC.IN SUPREME COURT OF INDIA Page 1 of 9 PETITIONER: TATA IRON AND STEEL CO. LTD. Vs...

...was not siphoned out.18. Dr. Pal relied on other decisions in Woolcombers Of India Ltd. v. Commissioner Of Income-Tax (Central), Calcutta., [1982]134 ITR 219 (Cal) at page 227; Commissioner Of Income-Tax v. Samuel Osborn (India) Ltd., [1982]135 ITR 699 (Cal); Indian Explosives Ltd. v. CIT, [1984]147 ITR 392 (Cal) and Alkali and Chemical Corporation of...India Ltd. v. CIT, [1986]161 ITR 820 (Cal) at page 823. In Alkali and Chemical Corporation of.... CIT, [1984]147 ITR 392 (Cal). Following the earlier three decisions in Woolcombers of India Ltd., [1982]134 ITR 219 (Cal); Reckitt and Colman of India Ltd., [1982]135 ITR 698 (Cal) and Indian Explosives Ltd., [1984]147 ITR 392 (Cal), this court had held, having regard to the facts and circumstances of the case in Alkali and Chemical Corporation of...

...assessment is the profit alleged to have been earned by financing or money-lending transaction with I.C.I (India) and repayment of the loan by transfer of shares in the Alkali & Chemical Corporation of India Ltd., Indian...of the world's largest chemical manufacturing companies and in India it has promoted the Indian Alkali & Chemical Corporation Ltd. The scheme of investing substantial fund of the London company in India for...Ltd. and I.C.I (India) Private Ltd., in respect of the investments in the ‘A’ ordinary shares of the Alkali & Chemical Corporation of India Ltd.Please note that the ‘A’ ordinary...

...Bank of India. Some of the facts are very clear from these correspondence and are not in dispute before us. ICI, London, was giving a loan of approximately Rs. 1,80,00,000 to ICI (India) Pvt. Ltd. The loan was for the purpose of financing another company, the Alkali and Chemical Corporation of...India Limited. ICI (India) Pvt. Ltd. was to invest this amount in the shares of Alkali and Chemical Corporation of...correspondence that the loan was to be given only for the purpose of buying the shares in Alkali and Chemical Corporation of India Limited. The first instalment of the loan was to be advanced in March...

...Dipak Kumar Sen, J.:— On an application of the Alkali & Chemical Corporation of India Ltd., Calcutta, the assessee, under s. 18 of Companies (Profits) Surtax Act, 1964...in view of the facts disclosed.”(c) ITO v. India Foils Ltd., [1973] 91 ITR 72. This decision was cited...(d) any money borrowed from the Government or Government corporation or any other financial institution notified by the Government or any banking institution.12. The Explanation to r. 2...

...him so that what follows will be clear :“Brief facts of the case :M/s Indian Explosives Ltd. (Former - Alkali & Chemical Corporation of India Ltd.) herein...Union of India v. M/s. Bombay Tyre International Ltd. reported in 1983 ELR 869 and such other decisions or orders that may be given or made by the Supreme Court on...of Supreme Court in the case of Union of India v. M/s. Bombay Tyres International Ltd. but the main dispute for (SC) calculation in arriving to the claims for such abetment. The...

...world war, ICI had decided to make substantial investments in India for manufacture of extended range of products which were previously imported; as a result Alkali & Chemical Corporation of India Ltd., hereinafter...the Imperial Chemical Industries Ltd. incorporated in the United Kingdom. The said Imperial Chemical Industries Ltd. is shortly referred to as ICI. It is the case of the petitioner that after the last...March, 1967, a notice was issued to the petitioner I.C.I (India) Private Ltd. by the Gift-tax Officer, ‘B’ Ward, Companies Dist. IV, Calcutta, intimating that he had reason to believe that the gift made...

...: (1) Reckitt & Colman of India Ltd. v. CIT (1982)135 ITR 698 (Cal.) (2) Indian Explosives Ltd. v. CIT (1984) 147 ITR 392 (3) Alkali & Chemical Corporation of...Produce Exchange Corporation Ltd v. CIT (1970) 77 ITR 739 (SC). 11. We have heard the both sides and gone through the...India Ltd. v. CIT (1986) 161 ITR 820 (4) British Paints (I) Ltd. v...

.... 1980 45 S.T.C 32 The State of Tamil Nadu v. Indian Cable Company Ltd,2 and State of Tamil Nadu v. Alkali and Chemical Corporation of India...decision in The Deputy Commissioner of Sales Tax (Law), Board of Revenue (Taxes), Ernakulam v. Advani Oerlikon (P) Ltd...Ltd.,3.9. We have examined these judgments. In all these cases, the amount allowed by way of rebate or discount etc. was reduced. In none of these cases, any reduction was allowed on...

...both at the instances of the assessees [see Alkali and Chemical Corporation of India Ltd. v. CIT (1986) 161 ITR 820 (Cal) and CIT v. Indian...amendment of Section 80-J which was settled by this Court by its decision in Lohia Machines Ltd. v. Union of India (1985) 2 SCC 197, (1985) 152...assessees under Articles 14 and 19(1)(g) of the Constitution of India. It is on this plea that, even though assessments and appeals are pending in several of these cases, the petitioners chose to...

...);(6) Alkali & Chemical Corporation of India Ltd. v. Commissioner (1986) 161 ITR 820 (Cal....);(8) Gujarat Agro Industries Corporation Ltd. v. ITO (1985) 14 ITD 320 (Ahd.);(9) Manipal Power Press v...No. 380 dated 10th April 1984 and the decision of the Bombay High Court in the case of Indian Oil Corporation v. Rajagopalan (S), ITO...

...100% subsidiary of ICI. The facts and proceedings leading up to this appeal are, inter alia, as follows:(i) With the object of manufacture in India of diverse products, ICI, in 1937, promoted a company in India named Alkali & Chemical Corporation of India Ltd. (hereafter...between ICI and ICI (India) P. Ltd. relating to Alkali & Chemical Corporation of India Ltd. (ACCI) came up before this court in a reference where the question was whether interest accrued on the loan...India as an ordinary resident.2. Imperial Chemical Industries Ltd., London (hereafter referred to as “ICI”), is a company incorporated under the laws of the United Kingdom and is a non...

...relied on a plethora of decisions held by the same Court earlier, such as, in 132 ITR 219 (sic) , Reckitt & Colman of India Ltd. v. CIT [1982] 26 CTR 24 (Cal) : [1982] 135 ITR 698 (Cal) , Indian Explosives Ltd. v. CIT [1983] 35 CTR 244 (Cal) : [1984] 147 ITR 392 (Cal) and Alkali & Chemical Corporation of...India...Hon'ble Supreme Court in the case of Sutlej Cotton Mills Ltd. v. CIT 1978 CTR 155 (SC) : [1979] 116 ITR 1...

...Woolcombers Of India Ltd. v. Commissioner Of Income-Tax (Central), Calcutta. [1982] 134 ITR 2191 (Cal.) which was also followed in the case of Reckitt & Colman of India Ltd. v. CIT [1982] 135 ITR 698 2 (Cal.), Indian Explosives Ltd. v. CIT [1984] 147 ITR 392 3(Cal.), Alkali & Chemical Corporation of...reference was then also made to the judgment in the case of Alkali & Chemical Corpn. of India Ltd. (supra) wherein a view was taken by the Hon’ble jurisdictional High Court that "if the money is...British Paints (India) Ltd. v. Commissioner Of Income-Tax. [1991] 190 ITR 196 (Cal.). It was also pointed out that assessee’s profits for the relevant financial year was Rs. 518...

...Corporation of India Ltd. v. CIT); [1987] 165 ITR 558 (Cal) (Union Carbide India Ltd. v. CIT); [1986] Tax LR 483 (Cal) (CIT v...(Cal) (CIT v. National and Grindlays Bank Ltd.); [1986] 161 ITR 820 (Cal) (Alkali and Chemical...(Bom) (Ruston and Hornsby (India) Ltd. v. CIT); [1991] 191 ITR 367 (Bom) (CIT v. Greaves Cotton and Co. Ltd.); [1991] 191 ITR 58...