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Shriram Chits and Investments (P)ltd., T. Nagar Vs. M. Krishnan and Ot ...
Chennai
Dec-11-1998
CommercialLimitation
Chit Funds Act, 1982 -- Sections 65; Limitation Act, 1963 -- Sections 5, 12, 14 and 64; Chits Funds Act, 1982 -- Sections 65, 66 and 67; Tamil Nadu Chit Funds Act, 1961
AIR2000Mad78; 1999(1)CTC238
instituted proceedings under Section 64 which was presented on 22.7.1991.12. It is to be pointed out that the Chit Funds Act; 1982 (Central Act 40 of 1982) by which The Tamil Nadu Chit Funds Act, 1961 which was in force … upon the following passage:-'It is undoubtedly true that in dealing with the question of condoning the delay under Section 5 of the Limitation Act the party seeking relief has to satisfy the Court that he had sufficient cause
Tag this Judgment! AI Brief & AskDharmodayam Company Vs. Union of India (Uoi)
Kerala
May-31-2005
Civil
Kerala Chitties Act, 1975 - Sections 2(4), 3, 3(1), 3(2), 4, 4(1), 5, 6, 6(3), 11, 12, 13, 14, 15, 17, 18, 19, 21, 22, 23, 24, 25, 26, 29, 34, 35, 39, 40, 42, 43, 55, 56, 59, 60, 67, 72, 89 and 220; Kerala Finance Act, 2002; Chit Funds Act, 1982 - Sections 1(3), 2, 4(1), 7(3), 8, 9(1), 20 and 90; Constitution of India - Articles 14, 19(1), 226, 245 to 255; Companies Act; Finance Act, 2002 - Sections 3(5) and 4; Kerala Chittis (Amendment) Act, 2002
AIR2005Ker253; [2005]126CompCas586(Ker); 2005(3)KLT332
view, cannot be read in isolation. The same has to be read along with Section 1(3) of the Chit Funds Act, 1982. Section 1(3) of the Act states that the Chit Funds Act, 1982 shall come into force on such date … case no previous sanction as contemplated in Sub-section (1) shall be given. There is further restriction as per Sub-section (5) of Section 3, which says that if the Foreman is a Banking Company as defined in the Banking
Tag this Judgment! AI Brief & AskBilahari Investments (P) Ltd. Vs. the Commissioner of Income Tax
Chennai
Jun-19-2006
Direct Taxation
Chit Funds Act, 1982 - Sections 2 and 3; Income tax Act, 1961 - Sections 5, 6(6), 144 and 145; Companies Act
(2007)207CTR(Mad)512; [2007]288ITR39(Mad); (2006)4MLJ1644
of the questions raised in the appeals, a reference to Sections 2(d), 2(g), 2(h) and 2(m) of the Chit Funds Act, 1982 is inevitable, which read as follows:2. Definition.- In this Act, unless the context otherwise require,-(d) 'chit amount' means … common questions of law:a) Whether the Income tax Tribunal is right in law particularly in the light of Sections 5 and 145 of the Income tax Act, 1961, in rejecting the method of accounting adopted by the
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A.P. Federation of Chit Funds Vs. Union of India (Uoi)
Andhra Pradesh
Jul-14-2008
Service Tax
Finance Act, 1994 - Sections 65(12) and 65(105); Andhra Pradesh Chit Funds Act, 1971 - Sections 2 and 6; Finance (Amendment) Act, 2007 - Sections 65; Chit Funds (Amendment) Act, 1982; Reserve Bank of India Act, 1934 - Sections 41(1) and 45I; Constitution of India - Articles 14, 19(1), 226 and 265; Andhra Pradesh Chit Funds Rules
2009[13]STR350
ambit and therefore it was contended that even culling out from the definition of the chit under the Chit Funds Act, 1982, there being an element of finance involved, it attracts cash management and asset management. Further, it has been … the second respondent as being violative of Articles 14, 19(1)(g) and 265 of the Constitution of India and Section 65(12) read with Section 65(105)(zm) of the Finance Act, 1994 and to set aside the same. The case … General Stores 66 ITR 692, 699-700 (SC); Drummond v. Collins 6 TC 525, 539 (HL); Duke of Westminster v. IR 19 TC 490, 524 (HL)].Tax
Tag this Judgment! AI Brief & AskBilahari Investments (P) Ltd. Vs. the Commissioner of Income Tax
Chennai
Dec-01-2006
Direct Taxation
Chit Funds Act, 1982 - Sections 3; Income Tax Act, 1961 - Sections 5 and 145
(2007)209CTR(Mad)242
of the Chit Funds Act. In view of the non obstante clause found in Section 3 of the Chit Funds Act, 1982, namely,3. Act to override other laws, memorandum, articles, etc. - Save as otherwise expressly provided in this Act, … common questions of law:a) Whether the Income tax Tribunal is right in law particularly in the light of Section 5 and 145 of the Income tax Act, 1961, in rejecting the method of accounting adopted by the appellant
Tag this Judgment! AI Brief & AskMargadarsi Chit Funt Pvt. Ltd., Hyderabad Vs. Government of Andhra Pra ...
Andhra Pradesh
Sep-28-1999
Commercial
Andhra Pradesh Chit Funds Act, 1971 - Sections 2(2 and 10), 3, 4, 5, 6, 8, 10, 12, 13(1), 14(1, 2 and 4), 21(1), 22(1), 27 to 29, 30, 51, 63, 66 and 90; Andhra Pradesh Chit Fund Rules, 1971 - Rules 3(3, 4 and 16) and 20; The Industries (Development and Regulation) Act, 1951; Taxtile Committee Act, 1963 - Sections 2; Chit Fund Act, 1982; Contracts of Employment Act, 1963; Kerala Agriculturists' Debt Relief Act, 1970 - Sections 4(1, 2 and 5)
1999(5)ALD718; 1999(5)ALT548
the State of Andhra Pradesh. The reports and recommendations of those committees were the basis for enactment of Chit Funds Act, 1982 (Central Act 40 of 1982). The Central Act is a comprehensive piece of Legislation, and the dominant purpose … registered. Section 4 of the Act completely prohibits the invitation for subscription to chit without registration of Bye-laws. Section 5 of the Act provides for the form of chit agreement and the particulars to be contained therein. Section
Tag this Judgment! AI Brief & AskSoudambika Finance Pvt. Ltd. Coimbatore and Etc. Etc. Vs. Union of Ind ...
Chennai
Apr-30-1992
Civil
Chit Funds Act, 1982 - Sections 4(3), 5, 6(1, 2 and 3), 7(2), 8, 12, 13, 14, 15, 16(2 and 3), 17(2), 18(4 and 5), 19, 20(1), 21, 22(2), 24, 28, 29, 30, 31, 39(2), 48(1), 50, 64, 75, 76, 77 and 79; Constitution of India - Articles 14, 19(1), 245 and 246; Chit Funds (Pondicherry) Rules, 1986; Pondicherry Chit Funds Act, 1966; Chitties Act, 1964; Cochin Kuris Regulations, 1932; Indian Penal Code (IPC), 1860; Reserve Bank of India Act, 1934 - Sections 45-N and 451; Tamil Nadu Chit Fund Rules, 1984 - Rules 4A, 13, 18(4 and 5), 28, 31 and 63; Companies Act, 1956 - Sections 39(2) and 48; Indian Registration Act, 1908
AIR1993Mad190; [1995]82CompCas302(Mad)
considered and dealt with in common.2. The above writ petitions involve challenge to the constitutional validity of the Chit Funds Act, 1982 (Central Act 40 of 1982), hereinafter referred to as 'the Act' and the Tamil Nadu Chit Funds Rules, … only a company and, therefore, is violative of Art. 14 of the Constitution of India. The provisions of Section 5 of the Act in prohibiting invitation for subscriptions unless the previous sanction required under S. 4 of the
Tag this Judgment! AI Brief & AskM/S. Kavery Trading, Financing and Chits (Private) Limited, Bangalore ...
Karnataka
Oct-16-1997
Civil
Chit Funds Act, 1982 - Sections 64(1) and 85
ILR1997KAR3432; 1998(1)KarLJ349
instalment. During the pendency, the first defendant filed I.A.VI stating that in view of Section 64(1) of the Chit Funds Act, 1982 the suit is not maintainable as such the suit ought to be dismissed. After filing of the objections … 85 of the Chit Funds Act, 1982 is not at all applicable to the chit started prior to 5-1-1984. Now it is to be seen whether the order of the Small Causes Judge is correct or not.4.
Tag this Judgment! AI Brief & AskSanjiv Kumar Vs. Ramwa Chit Funds (P) Ltd.
Delhi
May-04-2006
Civil
Code of Civil Procedure (CPC) , 1908 - Sections 114, 115 and 141 - Order 27, Rule 4 - Order 37 - Order 47, Rule 1; Madras Chit Funds Act, 1961 - Sections 1(3), 3 and 64(1); Chit Funds Act, 1982 - Sections 1; General Clauses Act, 1987 - Sections 3(58) and 5; Union Territories (Laws) Act,1950; Constitution of India - Article 239
AIR2006Delhi274; 130(2006)DLT170
for the petitioner submitted that chit funds were earlier governed by Madras Chit Funds Act, 1961 and thereafter Chit Funds Act, 1982 (hereinafter referred to as the Act, for short) was passed by the Parliament and notified by publication in … extended to the Union Territory of Delhi and no separate notification extending the Act to Delhi was required.7. Section 5 of the General Clauses Act, 1987 states that any Central enactment not expressed to come into operation on
Tag this Judgment! AI Brief & AskC. Dhanam Vs. A.M. Srinivasan and ors.
Chennai
Apr-07-2006
Limitation
Limitation Act - Schedule - Articles 37 and 113; Tamil Nadu Chit Funds Act, 1961 - Sections 6, 24 25, 25(1) and 25(2); Chit Funds Act, 1982 - Sections 65; Constitution of India
AIR2006Mad210; 2006(2)CTC444; [2007(1)JCR463(Mad)]; (2006)2MLJ275
the provisions of the Tamil Nadu Chit Funds Act,1961, since the chit transaction took place in the year 1982, especially before coming into force of the Central Act.14. Before dealing with the view expressed by the Division … Ltd. held that Article 37 of the Limitation Act and Sections 24 and 25 of the Tamil Nadu Chit Funds Act,1961, would apply and, as such, the date of default is the reckoning date. 12. The other Division Bench … Funds Pvt. Ltd. held that Article 37 of the Limitation Act and Sections 24 and 25 of the Tamil Nadu Chit Funds Act,1961, would apply … Pvt. Ltd.) and (Shriram Chits and Investments (P) Ltd. v. M. Krishnan). 5. As per the judgment of the Division Bench in M. Gopal v.
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