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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 jurisdictional High Court in C.I.T. v. Lohia Trading Co. (226 ITR 873) wherein an argument was taken for the first time before the High

Assistant Commissioner of Vs. Little Flower Kuries and

Court : Income Tax Appellate Tribunal ITAT Cochin

Subject : Service Tax

Reported in : (2005)94ITD162(Coch.)

Explanation I states 'Chit' has the meaning assigned to it in clause (b) of Section 2 of the Chit Funds Act, 1982". Interest Tax Act has not defined what is a 'deposit'. Hence, assessee's representative submitted that the definition given

Smt. P Prathiba Vs. M/s. Avenue Super Chits (p) Ltd.,

Court : Karnataka

Subject : Land Acquisition

beyond limitation. 1615. The counsel for the appellants brought to notice of this Court Section 71 of the Chit Funds Act, 1982 wherein it is clear that every order passed by the Registrar or the nominee under Section 68 or … Court and subsequently, without any further paper publication or notification on re-sale as provided under Order 21 Rule 87 of CPC and without issuing fresh proclamation, the Court sale was conducted at 4.15 p.m. and the persons

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 … three principles: (1) Whether there is direct conflict between the two provisions; 87 (2) Whether Parliament intended to lay down an exhaustive code in respect … 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

National Engineering Industries Vs. Joint Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Kolkata

Subject : Land Acquisition

Reported in : (2002)80ITD9(Kol.)

of a chit. Explanation I--'Chit' has the meaning assigned to in Clause (b) of Section 2 of the Chit Funds Act, 1982. Explanation II.--Any credit given by a seller to a buyer on the sale of any property (whether movable

National Engg. Inds. Ltd. Vs. Cit

Court : Kolkata

Subject : Direct Taxation

Reported in : [2001]80ITD9(Cal)

a chit.Explanation I - 'Chit' has the meaning assigned to in clause (b) of section 2 of the Chit Funds Act, 1982.Explanation II - Any credit given by a seller to a buyer on the sale of any property

Malati G. Dhamani Vs. Shriram Chits and Investments Pvt. Ltd.- Rep. by ...

Court : Chennai

Subject : Commercial

Acts : Tamil Nadu Chit Funds Act, 1961 - Sections 25; Limitation Act - Schedule - Article 37

Reported in : (2003)1MLJ31

appeal:'1. Whether the term in the chit agreement can be contrary to the provisions of the Tamil Nadu Chit Funds Act? 2. Is not the suit barred by limitation in view of Section 25 of the Tamil Nadu Chit

All Kerala Chitty Foremen'S Association vs the Union of India,

Court : Kerala

Respondents 7 to 13 and other Co-operative Societies satisfy the definition of 'chit' as understood in the Chit Fund Act, 1982 (Act 40 of 1982);(ii) issue a writ of mandamus or any other appropriatewrit or order restraining … 7 to 13 and other Co-operative Societies satisfy the definition of 'chit' as understood in the Chit Fund Act, 1982 (Act 40 of 1982);(ii) issue a writ of mandamus or any other appropriatewrit or order restraining Respondents 7 … KULASEKHARAPURAM SERVICE CO-OPERATIVE BANK LTD.NO.Q.218 CLAPPANA.P.O., KOLLAM DISTRICT, REPRESENTED BY ITS SECRETARY. 87 THE CHAVARA SERVICE CO-OPERATIVE BANK LTD.NO.Q.147 PUTHENCHANTHA.P.O., PANMANA, CHAVARA -691587, REPRESENTED BY … order or direction directing Respondents 1 to 4 to initiate action under Section 76 of the Act against Respondents 7 to 13 and other Co-operative

income-tax Officer Vs. Muthoot M. George Chits (India)

Court : Income Tax Appellate Tribunal ITAT Delhi

Subject : Direct Taxation

Reported in : (1990)34ITD1a(Delhi)

that, disallowing of the loss was not proper.3. The counsel Sh. Manian, filed the copy of the Madras Chit Funds Act, 1961 as was extended to the Union territory of Delhi and also the Delhi Chit Fund Rules, 1964 … this appeal, objecting to the order of the CIT(A) dt. 10th Mar. 87 and the objection of the revenue is on the deletion of Rs. … of subscription from the prized subscribers; (e) substitute subscribers for defaulters.The duties of the foreman as provided by Section 14 of the Act are (a) pay to the prized subscriber the prize amount on his providing adequate

The Assam State Textbook Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Guwahati

Subject : Direct Taxation

Reported in : (2003)87ITD99(Gau.)

527 (SC), the Hon'ble Supreme Court held that the business of the assessee is the conducting of the chit fund in trust for charitable purpose and hence the income from chit fund business is exempt from tax … assessee-society is entitled for claiming exemption under the provisions of Section 10(22) of the Act even if its funds are being misutilised by the members of the society; and (ii) whether the relief under Section 10(22) can … constitutes education.(8) In CIT v. Oxford University Press (1996) 221 ITR 77, 87 (Bom), the Hon'ble Bombay High Court has held that if the assessee … the assessee in ITA No. 51(Gau) of 1993 for the asst. yr. 1982-83 and ITA No. 287 (Gau) of 1995 for the asst.yr. 1981-82 are