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Income Tax Act, 1961 Section 72A

Title: Provisions Relating to Carry Forward and Set off of Accumulated Loss and Unabsorbed Depreciation Allowance in Amalgamation or Demerger, Etc.

State: Central

Year: 1961

.....company or to ensure that the amalgamation is for genuine business purpose. 4. See rule 9C and Form No. 62. For analysis, see Mashbra's Income-tax Rules. 5. Inserted by the Finance Act, 2001, with retrospective effect from 1st April, 2000. 6. Inserted by the Finance Act, 2002, with effect from 1st April, 2003. 7. Inserted by the Finance Act, 2003, with effect from 1st April, 2004. 8. Inserted by the Finance Act, 2010 w.e.f. 01.04.2011. 9. Substituted by the Finance Act, 2010 w.e.f. 01.04.2011 for the following:"(a) accumulated loss means so much of the loss of the predecessor firm or the proprietary concern or the amalgamating company or the demerged company, as the case may be, under the head Profits and gains of business or profession (not being a loss sustained in a speculation business) which such predecessor firm or the proprietary concern or amalgamating company or demerged company, would have been entitled to carry forward and set-off under the provisions of section 72 if the reorganisation of business or amalgamation or demerger had not taken place;" 10. Substituted by the Finance Act, 2010 w.e.f. 01.04.2011 for the following: "(b) unabsorbed depreciation.....

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Bombay Labour Welfare Fund Act, 1953, (Maharashtra) Section 6A

Title: Unpaid Accumulations and Claims Thereto

State: Maharashtra

Year: 1953

.....is made to the Board, the Board shall by notice (containing such particulars as may be prescribed)- (a) exhibited on the notice-board of the factory or establishment in which the unpaid accumulation was earned, and [2][* * *] (c) also published in any two newspapers circulating and in the language commonly understood in the area in which the factory or establishment in which the unpaid accumulation was earned is situate, or in such other manner as may be prescribed, regard being had to the amount of the claim, invite claims by employees for any payment due to them. The notice shall be inserted in the manner aforesaid in June and December of every year, for a period of three years from the date of the payment of the unpaid accumulation to the Board. (4) If any question arises whether the notice referred to in sub-section (3) was given as required by that sub-section, a certificate of the Board that it was so given shall be conclusive. (5) If a claim is received whether in answer to the notices or otherwise, within a period of four years from the date of first publication of the notice in respect of such claim, the Board shall transfer such claim to the Authority.....

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Karnataka Labour Welfare Fund Act, 1965 Section 7

Title: Unpaid Accumulations and Claims Thereto

State: Karnataka

Year: 1965

.....is made to the Board, the Board shall, by notice (containing such particulars may be prescribed),- (a) exhibited on the notice-board of the factory or establishment in which the unpaid accumulation was earned; and (b) published in the official Gazette; and (c) also published in any two newspapers circulating in the area in which the factory or establishment in which the unpaid accumulation was earned is situate or in such other manner as may be prescribed, regard being had to the amount of the claim, invite claims by employees for any payment due to them. The notice shall be inserted in the manner aforesaid in June and December of every year, for a period of three years from the date of the payment of the unpaid accumulation to the Board. (4) If any question arises whether the notice referred to in sub-section (3) was given as required by that sub-section, a certificate of the Board that it was so given, shall be conclusive. (5) If a claim is received whether in answer to the notices or otherwise, within a period of four years from the date of first publication of the notice in respect of such claim, the Board shall transfer such claim to the Authority.....

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Income Tax Act, 1961 Section 72AB

Title: Provisions Relating to Carry Forward and Set off of Accumulated Loss and Unabsorbed Depreciation Allowance in Business Reorganisation of Co-operative Banks

State: Central

Year: 1961

.....years for the purposes of set off and carry forward of loss and allowance for depreciation. (6) In a case where the conditions specified in sub-section (2) or notified under sub-section (4) are not complied with, the set off of accumulated loss or unabsorbed depreciation allowed in any previous year to the successor co-operative bank shall be deemed to be the income of the successor cooperative bank chargeable to tax for the year in which the conditions are not complied with. (7) For the purposes of this section, - (a) accumulated loss means so much of loss of the amalgamating cooperative bank or the demerged co-operative bank, as the case may be, under the head Profits and gains of business or profession (not being a loss sustained in a speculation business) which such amalgamating co-operative bank or the demerged co-operative bank, would have been entitled to carry forward and set-off under the provisions of section 72 as if the business reorganisation had not taken place; (b) unabsorbed depreciation means so much of the allowance for depreciation of the amalgamating co-operative bank or the demerged co-operative bank, as the case may be, which remains to be allowed.....

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Indian Succession Act, 1925 Section 117

Title: Effect of Direction for Accumulation

State: Central

Year: 1925

.....the property and the income thereof shall be disposed of as if the period during which the accumulation has been directed to be made had elapsed. (2) This section shall not effect any direction for accumulation for the purpose of- (i) the payment of the debts of the testator or any other person taking any interest under the Will, or (ii) the provision of portions for children or remoter issue of the testator or of any other person taking any interest under the Will, or (iii) the preservation or maintenance of any property bequeathed, and such direction may be made accordingly.] ______________________ 1. Substituted by Act 21 of 1929, section 14, for the original section.

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Transfer of Property Act, 1882 Section 17

Title: Direction for Accumulation

State: Central

Year: 1882

(1) Where the terms of a transfer of property direct that the income arising from the property shall be accumulated either wholly or in part during a period longer than (a) the life of the transferor, or (b) a period of eighteen years from the date of the transfer, such direction shall, save as hereinafter provided, by void to the extent to which the period during which the accumulation is directed exceeds the longer of the aforesaid periods, and at the end of such last-mentioned period the property and the income thereof shall be disposed of as if the period during which the accumulation has been directed to be made had elapsed. (2) This section shall not affect any direction for accumulation for the purpose of (i) the payment of the debts of the transferor or any other person taking any interest under the transfer; or (ii) the provision of portions for children or remoter issue of the transferor or of any other person taking any interest under the transfer; or (iii) the preservation or maintenance of the property transferred, and such direction may be made accordingly.

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New Delhi Municipal Council Act 1994 Section 266

Title: Removal of Rubbish, Etc. Accumulated on Premises Used as Factories, Workshop, Etc.

State: Central

Year: 1994

The Chairperson may, if he thinks fit,-- (a) by written notice require the owner or occupier of any premises used for carrying on any manufacture, trade or business or used as a factory, workshop, trade premises or market or in any way so that rubbish, filth and other polluted and obnoxious matter are accumulated in large quantities, to collect all such rubbish, filth and other polluted and obnoxious matter accumulating thereon and to remove the same at such times and in such carts or receptacles and by such routes as may be specified in the notice to a depot or place provided or appointed under section 263, or (b) after giving such owner or occupier notice of his intention, cause all rubbish, filth and other polluted and obnoxious matter accumulated in such premises to be removed, and charge the said owner or occupier for such removal such fee as may, with the sanction of the Council be specified in the notice issued under clause (a).

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Karnataka Municipal Corporations Act, 1976 Section 257

Title: Removal of Rubbish and Filth Accumulating in Large Quantities on Premises

State: Karnataka

Year: 1976

When any premises are used for carrying on any manufacture, trade or business or in any way so that rubbish or filth is accumulated in quantities which are, in the opinion of the Commissioner, too considerable to be deposited in any of the methods prescribed, by a notice issued under section 256, the Commissioner may,- (a) by notice require the owner or occupier of such premises to collect all rubbish and filth accumulating thereon, and to remove the same at such times, in such carts or receptacles, and by such routes as may be specified in the notice to a depot or place provided or appointed under section 255; or (b) after giving such owner or occupier notice of his intention, cause all rubbish and filth accumulated in such premises to be removed, and charge the said owner or occupier for such removal such periodical fee as may, with the sanction of the standing committee, be specified in the notice issued under clause (a)

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Karnataka Municipal Corporations Act, 1976 Section 263

Title: Prohibition Against Accumulation of Rubbish and Filth on Premises, Etc.

State: Karnataka

Year: 1976

.....accumulate for more than twenty-four hours. (2) No person shall deposit any rubbish or filth otherwise than as provided in a notice issued under section 256 or 257 as the case may be. (3) No person shall, after due provision has been made under sections 255 and 258 for the deposit and removal of the same,- (a) deposit the carcasses of animals, rubbish or filth in any street or in the verandah of any building or on any unoccupied ground alongside any street or any public quay, jetty or landing place or on the bank of a water course or tank; or (b) deposit filth or carcasses of animals in any dustbin or in any vehicle not intended for the removal of the same; or (c) deposit rubbish in any vehicle or vessel intended for the removal of filth except for the purpose of deodorizing or disinfecting the filth. (4) No owner or occupier of any premises shall keep or allow to be kept for more than twenty-four hours otherwise than in a receptacle approved by the Commissioner, any rubbish or filth on such premises or any place belonging thereto or neglect to employ proper means to remove the rubbish or filth from or to cleanse such receptacle and to dispose of such rubbish or.....

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Bombay Labour Welfare Fund Act, 1953, (Maharashtra) Section 6B

Title: Interest on Unpaid Accumulations or Fines After Notice of Demand

State: Maharashtra

Year: 1953

.....per cent] of the said amount for each completed month, after the last date by which he should have paid it in accordance with the provisions of subsection (3) of section 6BB; and (ii) thereafter, at [5][two per cent] of that amount for each completed month, during the time he continues to make default in the payment of that amount; Provided that, the Welfare Commissioner may, subject to such conditions as may be prescribed, remit the whole or any part of the penalty in respect of any period.] ____________ [1] Section 6-B was inserted by Mah. 22 of 1966, Section 5. [2] These words, figures and letters were inserted by Mah. 16 of 1971, Section 6. [3] Substituted for "one per cent" by Mah. 24 of 2003, dated 7th August 2003 (w.r.e.f. 7th January 2002), s. 5(a). Substituted for "one per cent" by Mah. 24 of 2003, dated 7th August 2003 (w.r.e.f. 7th January 2002), s. 5(a). [4] Substituted for "one and a half per cent" by Mah. 24 of 2003, dated 7th August 2003 (w.r.e.f. 7th January 2002), s. 5(a). [5] Substituted for "one per cent" by Mah. 24 of 2003, dated 7th August 2003 (w.r.e.f. 7th January 2002), s. 5(b). [6] Substituted for "one and a half per cent" by Mah. 24.....

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