Bare Act Search Results

Hindustan Tractors Limited (Acquisition and Transfer of Undertakings) Act, 1978 Complete Act

State: Central

Year: 1978

.....Corporation being the Authorised Controller. The period of the management will expire on the 11th March, 1979. The Company is engaged in the manufacture of agricultural tractors. After the take over of the management of the undertakings of the Company, The production in the Company, which had come to a standstill in November, 1972, has progressively improved. The net losses have come down from the level of Rs. 80 lakhs for the year ending March, 1973 to Rs.9 lakhs for the year ending March, 1977 and during 1977-78 they expect to achieve a nominal net profit of Rs.1 lakh. After careful consideration of the whole matter and with a view to improving the technical and economic viability of the undertakings, the Central Government have decided to acquire the undertakings of the Company and vest them in the State Government of Gujarat. 2. At the time of take over of the management of the undertakings of the Company, it was clear that it was not possible for the Company to meet all its past dues. Accordingly, the Central Government issued an order on the 26th April, 1973, under section 18FB of the Industries (Development and Regulation) Act, 1951, suspending the operation of all the.....

Finance Act 1978 Section 13

Title: Amendment of Section 54e

State: Central

Year: 1978

.....the following Explanations shall be inserted, namely :- Explanation 2 : "Eligible issue of capital" shall have the meaning assigned to it in sub-section (3) of section 80CC. Explanation 3 : An assessee shall not be deemed to have invested the full value of the consideration or any part thereof in any equity shares referred to in clause (va) of Explanation 1, unless the assessee has subscribed to or purchased the shares in the manner specified in sub-section (4) of section 80CC.; (b) after sub-section (1), the following sub-section shall be inserted, namely :- "(1A) Where the assessee deposits after 27th day of April; 1978, the full value of the consideration or any part thereof received or accruing as a result of the transfer of the original asset in any new asset, being a deposit referred to in clause (vi) of Explanation 1 below sub-section (1), the cost of such new asset shall not be taken into account for the purposes of that sub-section unless the following conditions are fulfilled, namely :- (a) the assessee furnishes, along with the deposit, a declaration in writing, to the bank or the co-operative society referred to in the said clause (vi) with which such.....

Finance Act 1978 Section 10

Title: Amendment of Section 54

State: Central

Year: 1978

.....construction as the case may be the cost shall be reduced by the amount of the unadjusted capital gain. Explanation : For the purposes of this sub-section (2) of section 54B and sub-section (2) of section 54D, - (1) "additional compensation", in relation to the transfer of any capital asset by way of compulsory acquisition under any law, means the difference between the compensation for the acquisition of such asset as enhanced by any court, tribunal or other authority and the compensation which would have been payable if such enhancement had not been made; (2) the capital gain attributable to the enhancement by any court, tribunal or other authority of the compensation for the compulsory acquisition of any capital asset shall be - (a) where the computation of the capital gain u/s. 48 by taking the compensation which would have been payable if such enhancement had not been made as the full value of the consideration received or accruing as a result of the transfer results in a loss or does not result in any profits or gains chargeable to income-tax under the head "Capital gains", the capital gain computed u/s. 48 by taking the compensation as so enhanced as the full value.....

Press Council Act, 1978 Chapter II

Title: Establishment of the Press Council

State: Central

Year: 1978

.....and shall observe such rules of procedure in regard to the transaction of business at its meetings as may be provided by regulations made under this Act. Section 10 - Vacancies among members or defect in the constitution not to invalidate acts and proceedings of the Council No act or proceeding of the Council shall be deemed to be invalid by reason merely of the existence of any vacancy in, or any defect in the constitution of, the Council. Section 11 - Staff of the Council (1) Subject to such rules as may be made by the Central Government in this behalf, the Council may appoint a Secretary and such other employees as it may think necessary for the efficient performance of its functions under this act. (2) The terms and conditions of service of the employees shall be such as may be determined by regulations. Section 12 - Authentication of orders and other instruments of the Council All orders and decisions of the Council shall be authenticated by the signature of the Chairman or any other member authorised by the Council in this behalf and other instruments issued by the Council shall be authenticated by the signature of the Secretary or any other officer of the.....

Press Council Act, 1978 Section 5

Title: Composition of the Council

State: Central

Year: 1978

.....as aforesaid. (5) The Central government shall notify the names of persons nominated as members under sub-section (3) in the Official Gazette and every such nomination shall take effect from the date on which it is notify. (6) The members of the Council notified under sub-section (5) shall elect from among themselves in accordance with such procedure as may be prescribed, a person to be a member of the Committee referred to in sub-section (2) and a meeting of the members of the Council for the purpose of such election shall be prescribed over by a person chosen from among themselves. ____________________ 1. Substituted. by Act 36 of 1994, section. 2, for Explanation w.e.f. 3-6-1994.

Press Council Act, 1978 Section 6

Title: Term of Office and Retirement of Members

State: Central

Year: 1978

.....5 or for a period of six months whichever is earlier. (2) Where a person nominated as a member under clause (a), clause (b) or clause (c) of sub-section (3) of section 5 is censured under the provisions of sub-section (1) of section 14, he shall cease to be a member of the Council. (3) The term of office of a member nominated under clause (e) of sub-section (3) of section 5 shall come to an end as soon as he ceases to be a member of the House from which he was nominated. (4) A member shall be deemed to have vacated his seat if he is absent without excuse, sufficient in the opinion of the Council, from three consecutive meetings of the Council. (5) The Chairman may resign his office by giving notice in writing to the Central Government, and any other member may resign his office by giving notice in writing to the Chairman, and upon such resignation being accepted by the Central government, or as the case may be, the Chairman, the Chairman or the member shall be deemed to have vacated his office. (6) Any vacancy arising under sub-section (2), sub-section (3), sub-section (4) or sub-section (5) or otherwise shall be filled, as soon as may be, by nomination in the same.....

Finance Act 1978 Chapter III

Title: Direct Taxes

State: Central

Year: 1978

.....unadjusted capital gain.". Section 13 - Amendment of Section 54E In section 54E [as directed to be inserted by section 13 of the Finance (No. 2) Act, 1977 (29 of 1977)] of the Income-tax Act, - (a) in sub-section (1), (i) in Explanation 1, - (1) in the opening portion, after the words "For the purposes of this sub-section", the words, brackets and figure "and sub-section (3)" shall be inserted; (2) in clause (v), the words, figures and letters ", where the investment in such shares is made before the 1st day of March, 1978" shall be inserted at the end; (3) after clause (v), the following clause shall be inserted, namely :- "(va) equity shares forming part of any eligible issue of capital where the investment in such shares is made after the 28th day of February, 1978;"; (ii) Explanation 2 shall be renumbered as Explanation 4 and before the Explanation as so renumbered, the following Explanations shall be inserted, namely :- Explanation 2 : "Eligible issue of capital" shall have the meaning assigned to it in sub-section (3) of section 80CC. Explanation 3 : An assessee shall not be deemed to have invested the full value of the consideration or any part.....

Finance Act 1978 Section 19

Title: Amendment of Section 155

State: Central

Year: 1978

.....(b) in sub-section (8), for the words and figures "under the provisions of section 54", the words, brackets and figures "under the provisions of sub-section (1) of section 54" shall be substituted and shall be deemed to have been substituted with effect from the 1st day of April, 1974; (c) after sub-section (8), the following sub-section shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1974, namely :- "(8A) Where in the assessment for any year, a capital gain arising from the transfer by way of compulsory acquisition under any law of any such capital asset as is referred to in section 54 is charged to tax and if the compensation for such acquisition is enhanced or further enhanced, as the case may be, by any court, tribunal or other authority, and the assessee purchases, within a period of one year after the date of receipt of the additional compensation, or constructs, within a period of two years after that date, a house property for the purposes of his own residence, the Income-tax Officer shall amend the order of assessment so as to exclude the amount of capital gain not chargeable to tax under the provisions of.....

Press Council Act, 1978 Complete Act

State: Central

Year: 1978

PRESS COUNCIL ACT, 1978 PRESS COUNCIL ACT, 1978 37 OF 1978 An Act to establish a Press Council for the purpose of preserving the freedom of the Press and of maintaining and improving the standards of newspaper and news agencies in India. Be it enacted by Parliament in the Twenty-ninth Year of the Republic of India as follows :-STATEMENT OF OBJECTS AND REASONS The Press Council of India was established in July, 1966 under Press Council Act, 1965, mainly to preserve the freedom of the Press and to maintain and improve the standards of newspapers and news agencies in the country. During the Emergency the Press Council was dissolved with effect from the 1st January, 1976. 2. As a part of a series of measures now being undertaken by the Government to restore the freedom of the Press and keep up the independence standards of newspapers in the country, it is proposed to revive the Press Council of India. This Bill seeks to establish a Press Council of India and is on the same lines as Press Council Act, 1965, with the following changes :- (a) The Chairman of the Council will be nominated by the Chief Justice of India and the other members thereof representing the newspapers.....

Prize Chits and Money Circulation Schemes Banning Act 1978 Section 2

Title: Definitions

State: Central

Year: 1978

.....money or thing is derived from the entrance money of the members of such scheme or periodical subscriptions; (d) "prescribed" means prescribed by rules made under this Act; (e) "prize chit" includes any transaction or arrangement by whatever name called under which a person collects whether as a promoter, foreman, agent or in any other capacity, monies in one lump sum or in instalments by way of contributions or subscriptions or by sale of units, certificates or other instruments or in any other manner or as membership fees or admission fees or service charges to or in respect of any savings, mutual benefit, thrift or any other scheme or arrangement by whatever name called, and utilises the monies so collected or any part thereof or the income accruing from investment or other use of such monies for all or any of the following purposes; namely : (i) giving or awarding periodically or otherwise to a specified number of subscribers as determined by lot, draw or in any other manner, prizes or gifts in cash or in kind, whether or not the recipient of the prize of gift is under a liability to make any further payment in respect of such scheme or arrangement; (ii) refunding to.....