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Start Free TrialBurmah Oil Company [Acquisition of Shares of Oil India Limited and of the Undertaking in India of Assam Oil Company Limited and the Burmah Oil Company (India Trading) Limited ] Act , 1981 Complete Act
Title: Burmah Oil Company [Acquisition of Shares of Oil India Limited and of the Undertaking in India of Assam Oil Company Limited and the Burmah Oil Company (India Trading) Limited ] Act , 1981
State: Central
Year: 1981
.....the appointed day Section8 - Removal of doubts Section9 - Power of Central Government to direct vesting of the under takings of specified companies in one or more Government Companies Chapter IV Section10 - Payment of amount to Burmah Oil Company Chapter V Section11 - Transfer of service of existing employees of the specified companies Section12 - Provident superannuation, welfare fund, etc Chapter VI Section13 - Effect of Act on other laws Section14 - Duty to deliver possession of properties etc Section15 - Contracts to continue unless terminated by Central Government Section16 - Penalties Section17 - Offences by companies Section18 - Protection of action taken in good faith Section19 - Cognizance of offences Section20 - Indemnity Section21 - Power to remove difficulties Section22 - Power to make rules
List Judgments citing this sectionBurmah Oil Company [Acquisition of Shares of Oil India Limited and of the Undertaking in India of Assam Oil Company Limited and the Burmah Oil Company (India Trading) Limited ] Act , 1981 Section 16
Title: Penalties
State: Central
Year: 1981
And person who- (a) having in his possession custody or control any property forming part of any undertaking in India of a specified company, wrongfully withholds such property from the Central Government or the successor Government company or (b) wrongfully obtains possession of or retains any property forming part of any undertaking in India of a specified company; or (c) wilfully withhold or fails to furnish to the Central Government or the successor Government company or any person specified by the Central Government or that company, any books documents or other papers relating to any undertaking in India of a specified company which may be in his possession custody or control or (d) fails to deliver to the Central Government or the successor Government company any assets, books of account registers or other documents in his possession custody or control relating to any undertaking in India of a specified company or (e) wrongfully removes or destroys any property forming part of any undertaking in India of a specified company, shall be punishable with imprisonment for a term which may extend to two years or with fine which may extend to ten thousand rupees or with
View Complete Act List Judgments citing this sectionFinance Act, 1981 Section 10
Title: Amendment of Section 80hha
State: Central
Year: 1981
In section 80HHA of the Income-tax Act, - (a) in sub-section (3), - (i) for the words "in respect of each of the ten assessment years beginning with the assessment year relevant to the previous year in which the small-scale industrial undertaking", the words "of each of the ten previous years beginning with the previous year in which the industrial undertaking" shall be substituted; (ii) the following proviso shall be inserted at the end, namely :- "Provided that such deduction shall not be allowed in computing the total income of any of the ten previous years aforesaid in respect of which the industrial undertaking is not a small-scale industrial undertaking within the meaning of clause (b) of the Explanation below sub-section (8)."; (b) in sub-section (8), in clause (b) of the Explanation, for the words "the business of the undertaking does not exceed ten lakh rupees; and for this purpose the value of any machinery or plant shall be, -", the following shall be substituted, namely :- "the business of the undertaking does not exceed, - (1) in a case where the previous year ends before the 1st day of August, 1980, ten lakh rupees; and (2) in a case where the.....
View Complete Act List Judgments citing this sectionFinance Act, 1981 Section 5
Title: Amendment of Section 32a
State: Central
Year: 1981
In section 32A of the Income-tax Act, in clause (2) of the Explanation below sub-section (2), for the words "the business of the undertaking does not exceed ten lakh rupees; and for this purpose the value of any machinery or plant shall be, -", the following shall be substituted, namely :- "the business of the undertaking does not exceed, - (i) in a case where the previous year ends before the 1st day of August, 1980, ten lakh rupees; and (ii) in a case where the previous year ends after the 31st day of July, 1980, twenty lakh rupees, and for this purpose the value of any machinery or plant shall be, -".
View Complete Act List Judgments citing this sectionFinance Act, 1981 Section 3
Title: Insertion of New Section 10a
State: Central
Year: 1981
.....year immediately succeeding the last of the relevant assessment years, or of any previous year relevant to any subsequent assessment year, - (i) section 32, section 32A, section 33, section 35 and clause (ix) of sub-section (1) of section 36 shall apply as if every allowance or deduction referred to therein and relating to or allowable for any of the relevant assessment years, in relation to any building, machinery, plant or furniture used for the purposes of the business of the industrial undertaking in the previous year relevant to such assessment year or any expenditure incurred for the purposes of such business in such previous year had been given full effect to for that assessment year itself and accordingly sub-section (2) of section 32, clause (ii) of sub-section (3) of section 32A, clause (ii) of sub-section (2) of section 33, sub-section (4) of section 35 or the second proviso to clause (ix) of sub-section (1) of section 36, as the case may be, shall not apply in relation to any such allowance or deduction; (ii) no loss referred to in sub-section (1) of section 72 or sub-section (1) of section 74 and no deficiency referred to in sub-section (3) of section 80J, in.....
View Complete Act List Judgments citing this sectionFinance Act, 1981 Chapter III
Title: Direct Taxes
State: Central
Year: 1981
.....words "first proviso" shall be substituted. Section 26 to 31 - Wealth-Tax Section 26 - Amendment Of Section 21 In section 21 of the Wealth-tax Act, 1957 (27 of 1957) (hereinafter referred to as the Wealth-tax Act), - (a) in sub-section (1), the following Explanation shall be inserted, namely :- "Explanation : A trust which in not declared by a duly executed instrument in writing (including a valid deed of wakf) shall be deemed, for the purposes of this sub-section, to be a trust declared by a duly executed instrument in writing if a statement in writing, signed by the trustee or trustees, setting out the purpose or purposes of the trust, particulars as to the trustee or trustees, the beneficiary or beneficiaries and the trust property, is forwarded to the Wealth-tax Officer, - (i) where the trust has been declared before the 1st day of June, 1981, within a period of three months from that day; and (ii) in any other case, within three months from the date of declaration of the trust."; (b) in sub-section (4), - (i) for the words "Notwithstanding anything contained in this section", the words "Notwithstanding anything contained in the foregoing provisions of this.....
View Complete Act List Judgments citing this sectionBurmah Oil Company [Acquisition of Shares of Oil India Limited and of the Undertaking in India of Assam Oil Company Limited and the Burmah Oil Company (India Trading) Limited ] Act , 1981 Section 22
Title: Power to Make Rules
State: Central
Year: 1981
(1) The Central Government may by notification make rules to carry out the provisions of this Act. (2) Every rule made by the Central Government under this act, shall be laid as soon as may be after it is made, before each House of Parliament while it is in session for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in making any modification in the rule or both Houses agree that the rule should not be made the rule shall thereafter have effect only in such modified form or be of no effect, as the case may be; so however that any such modification or annulment shall be without prejudice to the validity of anything previously done under that rule.
View Complete Act List Judgments citing this sectionBurmah Oil Company [Acquisition of Shares of Oil India Limited and of the Undertaking in India of Assam Oil Company Limited and the Burmah Oil Company (India Trading) Limited ] Act , 1981 Section 21
Title: Power to Remove Difficulties
State: Central
Year: 1981
If any difficulty arises in giving effect to the provisions of this Act, the Central Government may, by order not inconsistent with the provisions of this Act, remove the difficulty: Provided that no such order shall be made after the expiry of a period of two years from the appointed day.
View Complete Act List Judgments citing this sectionBurmah Oil Company [Acquisition of Shares of Oil India Limited and of the Undertaking in India of Assam Oil Company Limited and the Burmah Oil Company (India Trading) Limited ] Act , 1981 Section 20
Title: Indemnity
State: Central
Year: 1981
Every officer of the Central Government and every officer or other employee of the successor Government company shall be indemnified by the Central Government or the successor Government company as the case may be against all losses and expenses incurred by him in or in relation to the discharge of his duties under this Act except such as have been caused by his own wilful act or default.
View Complete Act List Judgments citing this sectionBurmah Oil Company [Acquisition of Shares of Oil India Limited and of the Undertaking in India of Assam Oil Company Limited and the Burmah Oil Company (India Trading) Limited ] Act , 1981 Section 19
Title: Cognizance of Offences
State: Central
Year: 1981
Notwithstanding anything contained in the code of Criminal Procedure 1973, no court shall take cognizance of any offence against this Act except on a complaint in writing made by the Central Government or any officer authorised in this behalf by that Government.
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