Advanced Search Results

Hdfc Bank Ltd. and anr. Vs. Kishore K. Mehta and ors.

Court : Mumbai

Subject : Civil

Acts : Presidency-Towns Insolvency Act, 1909 - Sections 9, 9(1), 9(2), 9(3) and 9(5); Recovery of Debts Due to Banks and Financial Institutions Act, 1994 - Sections 17, 17A, 17(1), 18, 19, 19(1), 19(4), 19(7), 19(12), 19(13), 19(17), 19(18), 19(19), 19(22), 20, 21, 22, 22(2), 23, 24, 25 to 30, 31A, 34, 34(1) and 34(2); Companies Act, 1956 - Sections 529A; Limitation Act; Income Tax Act, 1961; Industrial Finance Corporation Act, 1948; State Financial Corporations Act, 1951; Unit Trust of India Act, 1963; Industrial Reconstruction Bank of India Act, 1984; Sick Industrial Companies (Special Provisions) Act, 1985; Small Industries Development Bank of India Act, 1989; Uttar Pradesh Public Monies (Recovery of Dues) Act, 1972; Rajasthan Relief Undertakings (Special Provisions) Act, 1961; Ren

Reported in : 2008(6)BomCR340

shall be in addition to, and not in derogation of the Industrial Finance Corporation Act, 1948, the State Financial Corporations Act, 1951, the Unit Trust … State Financial Corporations Act, 1951, the Unit Trust of India Act, 1963, the Industrial Reconstruction Bank of India Act, 1984, the Sick Industrial Companies (Special Provisions) Act, 1985 and the Small Industries Development Bank of India Act, 1989.34. … 18 of the RD Act and further provision for overriding effect of the RD Act in terms of Section 34 thereof. In this regard, the Apex Court in the case of (Allahabad Bank v. Canara Bank and Anr.)

Sheraton Apparels, Vs. Assistant Commissioner of Income-tax

Court : Mumbai

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 271(1); Taxation Laws (Amendment) Act, 1984; Evidence Act, 1872 - Sections 34; Finance Act, 2001 - Sections 2(12A)

Reported in : 2002(5)BomCR19; (2003)1BOMLR888; (2002)175CTR(Bom)651; [2002]256ITR20(Bom); 2003(1)MhLj302

right from its inception. But, these terms are defined in the Act for the first time by the Finance Act, 2001, with effect from June 1, 2001. Section 2(12A) defines the said terms to mean :'(12A) 'books or … Legislative intention :21. Prior to the insertion of Explanation 5 to Section 271 by the Taxation Laws (Amendment) Act, 1984, with effect from October 1, 1984, an assessee, who is found to be the owner of any money, … concept of books of account has been employed. One of such oldest legislation is the law of evidence. Section 34 refers to the words 'entries in books of account'. Section 34 has been interpreted by various High Courts

Allahabad Bank Vs. Canara Bank and Another

Court : Supreme Court of India

Subject : BankingCompany

Acts : Companies Act, 1956 - Sections 19, 232(1), 442, 445, 446, 529A and 537; Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 17, 18, 19, 20, 22, 25 and 34; Constitution of India - Articles 226, 227 and 323A; Banking Regulation Act, 1949 - Sections 5; Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970; Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 - Sections 3; Industrial Finance Corporation Act, 1948; State Financial Corporations Act, 1951; Unit Trust of India Act, 1963; Industrial Reconstruction Bank of India Act, 1984; Companies (Amendment) Act, 1960; Life Insurance Corporation Act, 1956 - Sections 15 and 41; Old Companies Act, 1913 - Sections 171; Banking Companies Act, 1949 - Sections 45C; Civil Procedure

Reported in : 2000(3)ALLMR(SC)475; 2000(2)CTC723; JT2000(4)SC411; 2000(3)SCALE169; (2000)4SCC406; [2000]2SCR1102; AIR 2000 SC 1535; MANU/SC/0262/2000

the Industrial Credit and Investment Corporation of India Ltd; (ii) the Industrial Finance Corporation of India; (iii) the Industrial Development Bank of India; (iv) the … of 1951), the Unit Trust of India Act, 1963 (52 of 1963), The Industrial Reconstruction Bank of India Act, 1984 (62 of 1984) and the Sick Industrial Companies (Special Provisions ) Act, 1985(1 of 1986).The provisions of Section … filing of the OA for adjudication of the debt nor for executing the decree passed by the Tribunal. Section 34(1) gives overriding effect to the provisions of the Act save as provided in Section 34(2). Section 34(2) as

Commissioner of Income-tax, Faridabad Vs. Ghanshyam (Huf)

Court : Supreme Court of India

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 2(47), 45, 45(1), 45(5), 54, 54B, 54D, 54E, 54EA, 54EB, 54F, 54G, 54H, 154, 155(7A), 155(16), 260A and 269UA; Transfer of Property Act, 1882 - Sections 53A; Finance Act, 1987; Land Acquisition Act, 1894 - Sections 4, 4(1), 6, 18, 23, 23(1), 23(1A), 23(2), 28 and 34; Finance Act, 1991; Land Acquisition (Amendment) Act, 1984 - Sections 23(1A); Income Tax Act, 1922; Finance Act, 2003 - Sections 45(5) and 155(16)

Reported in : (2009)224CTR(SC)522; [2009]315ITR1(SC); JT2009(9)SC445; 2009(9)SCALE657; (2009)8SCC412; [2009]182TAXMAN368(SC); 2009(6)LC2930(SC)

and deductions therefrom.16. The question which arises for determination is - why was Section 45(5) inserted by the Finance Act, 1987, w.e.f. 1.4.88? Under Section 45(1), profits or gains arising from the transfer of a capital asset effected … of the market value of the land. Sub-section (1A) of Section 23 was introduced by Land Acquisition (Amendment) Act, 1984. It provides that in every case the Court shall award an amount as additional compensation at the rate … possession of the land to the date of payment of such excess into Court.21. We also quote hereinbelow Section 34 of the 1894 which reads as under:34. Payment of interest.- When the amount of such compensation is not

Deepak Cochhar and anr. Vs. Indusind Bank Ltd.

Court : Mumbai

Subject : Civil

Acts : Presidency-Towns Insolvency Act, 1909 - Sections 9, 9(2); Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 17, 19, 19(22), 20, 25 to 30, 34 and 34(1); Code of Civil Procedure (CPC) , 1908 - Sections 2(2), 2(14), 36 and 144 - Order 21 - Order 45, Rule 1; Consolidation of Holdings Act, 1954; Industrial Finance Corporation Act, 1948; State Financial Corporations Act, 1951; Unit Trust of India Act, 1963; Industrial Reconstruction Bank of India Act, 1984; Sick Industrial Companies (Special Provisions) Act, 1985; Court fees Act, 1870 - Schedule II - Article 11; Arbitration Act; Companies Act; Displaced Persons (Debts Adjustment) Act, 1951

Reported in : 2006(3)BomCR520; 2006(4)MhLj194

shall be in addition to, and not in derogation of, the Industrial Finance Corporation Act, 1948 (15 of 1948), the State Financial Corporations Act, 1951 … of 1951), the Unit Trust of India Act, 1963 (52 of 1963), the Industrial Reconstruction Bank of India Act, 1984 (62 of 1984) and the Sick Industrial Companies (Special Provisions) Act, 1985 (1 of 1986).The provisions of section … the Debt Recovery Tribunal is a complete code by itself. He has further relief upon the provision of section 34 of the RDDB Act and by relying upon the said section it has been contended that section 34

Central Bank of India Vs. Coast West Ferro Alloys and 7 ors.

Court : Gujarat

Subject : SICA

Acts : Sick Industrial Companies Act - Sections 2, 3, 15, 16, 17, 18, 19, 19A, 20, 21, 22, 22(1), 22A, 25, 29 and 32; Income Tax Act, 1961 - Sections 72A; Code of Civil Procedure (CPC) - Order 7, Rule 11; Foreign Exchange Regulation Act, 1973; Urban Land (Ceiling and Regulation) Act, 1976; Constitution of India - Article 39; Companies Act, 1956; Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 34; Industrial Finance Corporation Act, 1948; State Financial Corporations Act, 1951; Unit Trust of India Act, 1963; Industrial Reconstruction Bank of India Act, 1984; Sick Industrial Companies (Special Provisions) Act, 1985; Small Industries Development Bank of India Act, 1989

Reported in : (2009)1GLR59

Exh.44 that respondent being a sick unit declared by Board of Industrial Finance and Reconstruction (hereinafter referred to as 'BIFR'), therefore, under Section 22(1) of … State Financial Corporations Act, 1951, the Unit Trust of India Act, 1963, the Industrial Reconstruction Bank of India Act, 1984 and the Sick Industrial Companies (Special Provisions) Act, 1985 and the Small Industries Development Bank of India Act, … due under the RDDB Act. Chapter VI is Miscellaneous. One section, however, is of extreme importance. It is Section 34 which allows `overriding effect' to the provisions of the Act over other laws. It is a crucial provision

Rama Steel Industries and ors. Vs. Union of India (Uoi) and anr.

Court : Mumbai

Subject : Banking

Acts : Maharashtra Co-operative Societies Act, 1960 - Sections 91 and 101; Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI), 2002 - Sections 2, 2(1), 5, 9, 13, 13(2), 17, 17(2), 19, 34, 35, 37, 41, 42 and 75; Banking Regulation Act, 1949 - Sections 5 and 56; Recovery of Debts due to Banks and Financial Institutions Act, 1993 - Sections 2 and 34(2); Companies Act, 1956; Securities Contracts (Regulation) Act, 1956; Securities and Exchange Board of India Act, 1992; Industrial Finance Corporation Act, 1948; State Financial Corporations Act, 1951; Unit Trust of India. Act, 1963; Industrial Reconstruction Bank of India Act, 1984; Sick Industrial Companies (Special Provisions) Act, 1985; Small Industries Development Bank of India Act, 1989; Cons

Reported in : AIR2008Bom38; 2007(6)ALLMR739; 2008(1)BomCR271; 2007(6)MhLj387

shall be in addition to, and not in derogation of, the Industrial Finance Corporation Act, 1948, the State Financial Corporations Act, 1951, the Unit Trust … State Financial Corporations Act, 1951, the Unit Trust of India. Act, 1963, the Industrial Reconstruction Bank of India Act, 1984 [the Sick Industrial Companies (Special Provisions) Act, 1985 and the Small Industries Development Bank of India Act, 1989],It … Act.16. The distinction in the expression used in Section 37 of the Securitisation Act and Sub-section (2) of Section 34 of the RDB Act, which has been underlined by the Division Bench of this Court at Aurangabad in

Tungabadra Sugar Works Mazdoor Sangh Represented by Its President Vs. ...

Court : Chennai

Subject : Company

Acts : Companies Act, 1956 - Sections 442, 446, 446(1), 456, 457, 529A, 530 and 537; Income Tax Act, 1961; Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 17, 18, 19(7), 19(19), 19(22), 25 to 30, 32, 34, 34(1) and 34(2); State Financial Corporations Act, 1951 - Sections 31 and 46B; Industrial Finance Corporation Act, 1948; Unit Trust of India Act, 1963; Industrial Reconstruction Bank of India Act, 1984; Sick Industrial Companies (Special Provisions) Act, 1985; Life Insurance Corporation Act, 1956 - Sections 15 and 41; Income Tax Rules - Rules 38 and 52(2); Companies (Court) Rules, 1959 - Rules 9 and 117; Recovery of Debts Due to Banks and Financial Institutions Rules; Constitution of India - Articles 136, 226 and 227

Reported in : (2009)8MLJ15

shall be in addition to, and not in derogation of, the Industrial Finance Corporation Act, 1948 (15 of 1948), the State Financial Corporations Act, 1951 … of 1951), the Unit Trust of India Act, 1963 (52 of 1963), the Industrial Reconstruction Bank of India Act, 1984 (62 of 1984) and the Sick Industrial Companies (Special Provisions) Act, 1985 (1 of 1986).The provisions of Section … Section 446 of the Companies Act has no application in the present case once RDB Act applies because Section 34 expressly envisages over-riding effect to the provisions of 1993 Act; that RDB Act 1993 is a special law

Harihar Prasad Debuka and Etc . Vs . State of Bihar and ors. Overruled

Court : Patna

Subject : Constitution

Acts : Bihar Finance Act, 1981 - Section 31; Constitution of India - Article 269, 269(1), 301, 304

Reported in : AIR1987Pat175; [1987]66STC178(Pat)

within the State. However, an amendment thereof was apparently deemed necessary and by Section 9 of the Bihar Finance Act, 1984, enforced on the 2nd April, 1984, the present Sub-section (2a) was substituted in place of the earlier provision. … the Bihar Finance Act was broadly in line with Section 28B of the U.P. Sales Tax Act and Section 34 of the Bihar Finance Act was virtually in pari materia with Section 28 of the U.P. Act. On

i.T.C. Limited Through Sri Jagdish Singh and anr. with Goodyear India ...

Court : Patna

Subject : Sales Tax

Acts : Bihar Sales Tax Rules, 1983 - Rule 45; Bihar Finance Act, 1981 - Sections 31(2A)

and purchase of goods in Bihar. Section 3 is a charging section. Section 31 as substituted by Bihar Finance Act, 1984 contains a provision with regard to furnishing of information by clearing and forwarding agents and seizure of goods … time before or after the assessment.2. This notification shall come into force with effect from January 1, 1986.'18. Section 34 empowers the State Government for establishment of check posts with a view to prevent evasion of tax which