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Home Bare Acts Phrase: accumulationIncome 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
.....or amalgamation or demerger had not taken place.] 5[(aa) industrial undertaking means any undertaking which is engaged in - (i) the manufacture or processing of goods; or (ii) the manufacture of computer software; or (iii) the business of generation or distribution of electricity or any other form of power; or 6[(iiia) the business of providing telecommunication services, whether basic or cellular, including radio paging, domestic satellite service, network of trunking, broadband network and internet services; or] (iv) mining; or (v) the construction of ships, aircrafts or rail systems; ] 10[(b) "unabsorbed depreciation" means so much of the allowance for depreciation of the predecessor firm or the proprietary concern or the private company or unlisted public company before conversion into limited liability partnership or the amalgamating company or the demerged company, as the case may be, which remains to be allowed and which would have been allowed to the predecessor firm or the proprietary concern or the company or amalgamating company or demerged company, as the case may be, under the provisions of this Act, if the reorganisation of business or.....
View Complete Act List Judgments citing this sectionBombay 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.....
View Complete Act List Judgments citing this sectionKarnataka 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.....
View Complete Act List Judgments citing this sectionIncome 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.....
View Complete Act List Judgments citing this sectionIndian 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.
View Complete Act List Judgments citing this sectionTransfer 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.
View Complete Act List Judgments citing this sectionNew 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).
View Complete Act List Judgments citing this sectionKarnataka 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)
View Complete Act List Judgments citing this sectionIncome Tax Act, 1961 Section 72AA
Title: Provisions Relating to Carry Forward and Set-off of Accumulated Loss and Unabsorbed Depreciation Allowance in Scheme of Amalgamation of Banking Company in Certain Cases
State: Central
Year: 1961
.....of a banking company with any other banking institution under a scheme sanctioned and brought into force by the Central Government under sub-section (7) of section 45 of the Banking Regulation Act, 1949 (10 of 1949), the accumulated loss and the unabsorbed depreciation of such banking company shall be deemed to be the loss or, as the case may be, allowance for depreciation of such banking institution for the previous year in which the scheme of amalgamation was brought into force and other provisions of this Act relating to set-off and carry forward of loss and allowance for depreciation shall apply accordingly. Explanation: For the purposes of this section, -- (i) accumulated loss means so much of the loss of the amalgamating banking company under the head Profits and gains of business or profession (not being a loss sustained in a speculation business) which such amalgamating banking company, would have been entitled to carry forward and set-off under the provisions of section 72 if the amalgamation had not taken place; (ii) banking company shall have the same meaning assigned to it in clause (c) of section 5 of the Banking Regulation Act, 1949 (10 of 1949); (iii).....
View Complete Act List Judgments citing this sectionIncome Tax Act, 1961 Section 111
Title: Tax on Accumulated Balance of Recognised Provident Fund
State: Central
Year: 1961
(1) Where the accumulated balance due to an employee participating in a recognised provident fund is included in his total income, owing to the provisions of rule 8 of Part A of the Fourth Schedule not being applicable, the Assessing Officer shall calculate the total of the various sums of tax in accordance with the provisions of sub-rule (1) of rule 9 thereof. (2) Where the accumulated balance due to an employee participating in a recognised provident fund which is not included in his total income under the provisions of rule 8 of Part A of the Fourth Schedule becomes payable, super-tax shall be calculated in the manner provided in sub-rule (2) of rule 9 thereof.
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