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The D.C.i.T. Vs. Mangal Dayak Chit Fund (P) Ltd.

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Subject : Direct Taxation

Reported in : (2005)92ITD258(Hyd.)

of the case are as follows.3.2 All these assessees are Chit Fund Companies. They are governed by the Chit Funds Act 1982 and the A.P. Chit Funds Act 1971 and the Rules formed there under. The assessees have filed their … matter before us.3.1 The sole issue arising for adjudication in these appeals is whether the penalty levied under Section 271 B by the Assessing Officer, in the case of a Chit Fund Company; on the ground that

The Mayavaram Financial Chit Corporation Ltd. Vs. R. Narayanan and Two ...

Court : Chennai

Subject : Civil

Acts : Chit Funds Act, 1982 - Sections 64 and 85; Code of Civil Procedure (CPC) , 1908 - Sections 9; General Clauses Act, 1897 - Sections 6; Pondicherry Chits Funds Act, 1966

Reported in : 1996(2)CTC170

not maintainable?2. Whether the Court has no jurisdiction to try this suit in view of Section 64 of Chit Funds Act, 1982 and only an arbitration would lie before the Registrar of Arbitration?3. Whether the defendants made number of payments … ORDERN. Arumugham, J.1. Two judgments in O.S. Nos. 78 and 79 of 1991 rendered by the learned First Additional Sub Judge, Pondicherry on 1.12.1992 disposing of the

Bilahari Investments (P) Ltd. Vs. the Commissioner of Income Tax

Court : Chennai

Subject : Direct Taxation

Acts : Chit Funds Act, 1982 - Sections 2 and 3; Income tax Act, 1961 - Sections 5, 6(6), 144 and 145; Companies Act

Reported in : (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

Mysore Sales International Limited vs the Inspector General of Registr ...

Court : Karnataka

registered under the Companies Act, 1956 and is authorised to do business in Chit Funds as regulatedunder the Chit Funds Act, 1982. It contends that the respondent No.3 had subscribed to a chit in his name as well as in … contends that it initiated recovery proceedings before the Additional Registrar of Co-operative Societies, -4-Bengaluru in Dispute No.RCS/Chits/1/2014-15 under Section 64 of the Chit Funds Act, 1982. The petitioner apprehended that the respondent No.3 may sell the properties

Bilahari Investments (P) Ltd. Vs. the Commissioner of Income Tax

Court : Chennai

Subject : Direct Taxation

Acts : Chit Funds Act, 1982 - Sections 3; Income Tax Act, 1961 - Sections 5 and 145

Reported in : (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,

Assam Roller Flour Mills Association and ors. Vs. State of Assam and o ...

Court : Guwahati

Subject : Civil

made qua the assent. A passing reference at this stage may also be made of the decision Subodh Chit Fund (P) Limited (Supra), wherein the Apex Court had approved the conclusion of the Madras High Court that … to the contentious issue on quid pro quo and unauthorized creation of funds from the collections and expenses therefrom. According to the petitioners, levy of … In Bihar S.A. Product Marketing Board. v. Shankar Makhana Bhandar (Supra), by the Bihar Agricultural Produce Markets (Validation) Act, 1982, market fee levied, collect or to be levied or collected was sought to be saved from being illegal … of writ petitions register an identical challenge to the constitutional validity of Section 3D, 3E, Clause (ii) and (iii) of Explanation-1 to Section 21 as

State of Uttaranchal Vs. M/S. Kumaon Stone Crusher

Court : Supreme Court of India

Subject : Right to Information

of the Constitution, List III Entry 7 pertains to contracts including special forms of contracts. The Parliament enactment, Chit Funds Act, 1982 and State legislature Kerala Chitties Act, 1975, the subject being under concurrent list, in paragraph 27, the Court … which do not shed their natural characteristic and are all forest produce. 78. Limestone is expressly mentioned in definition of forest produce, slake lime/quick line/hydrated … Pradesh, State of Uttarakhand and State of Madhya Pradesh is in question. 3. In exercise of power under Section 41 of Indian Forest Act , 1927 (hereinafter referred to as “1927 Act) rules have been framed by

Sreepadmanabha Trading Company, vs Kerala State Financial Enterprises ...

Court : Kerala

in spite of the petitioner providing security. Learned Counsel drew attention to Section 31 of the Kerala Chits Fund Act,1982 to contend that the chit amount is liable to be released on furnishing sufficient security. 2.Learned Standing … THE FOLLOWING:JUDGMENTDated this the 29th day of September, 2022 The petitioner, registered partnership firm, had subscribed for certain Chits conducted by the respondent. The petitioner claims that the auctioned amount of Rs.1,12,50,000/- is due to be released,

Best and Crompton Engineering Ltd. Vs. Official Liquidator

Court : Chennai

Subject : Company

Acts : Companies Act, 1956 - Sections 44(2), 46, 391, 446, 446(1), 446(2), 456, 458A and 469; Limitation Act, 1963 - Schedule - Articals 1 and 137

Reported in : [1995]82CompCas77(Mad)

re [1979] 49 Comp Cas 287 and a decision of the Karnataka High Court in Unico Trading and Chit Funds (India) P. Ltd., v. S. H. Lohati [1982] 52 Comp Cas 340. Each of these decisions is by … 2, 1978. On March 2, 1982, the official liquidator presented an application under section 446(2) of the Companies Act, 1956, praying for a direction to the appellant pay a sum of Rs. 39,561.92 plus interest of Rs. … court in the case of Radhakrishnan (V.) v. P. R. Ramakrishnan [1993] 78 Comp Cas 694. In this case, it is observed as follows (at

Vastava Chit Funds (Private) Ltd. Vs. Madala Benarjee and ors.

Court : Andhra Pradesh

Subject : Limitation

Acts : Companies Act, 1956; Limitation Act, 1963 - Schedule - Article 37; Andhra Pradesh Chit Funds Act - Sections 2, 6 and 25(2); Code of Civil Procedure (CPC) - Sections 100; Constitution of India

Reported in : 2005(3)ALD881; 2005(3)ALT405; III(2005)BC546

by a learned Single Judge of Madras High Court. The Legislative competence of the Parliament in enacting the Chit Funds Act came up for consideration before the Full Bench of the Apex Court. On scrutiny of plethora of decisions, … the impugned order, which reads as under:'....In view of the decisions of our Hon'ble High Court reported in 1982 (2) ALT 48 (NRC) and : 1992(1)ALT696 (D.B.), the decision reported in AIR 1999 Madras 186, does not … Mad. 186. A learned Single Judge of Madras High Court, sitting under Sec. 100 of the Code of Civil Procedure, while dealing with Article 37 … herein was declared as the successful bidder, having agreed to forego Rs. 78,530/- and it was confirmed by the plaintiff company. The first respondent herein