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Commissioner of Income-tax Vs. Kerala Electric Lamp Works Ltd. and Cro ...

Court : Kerala

Subject : Direct Taxation

Acts : Finance Act, 2001; Income Tax Act, 1961 - Sections 32 and 32(1)

Reported in : (2003)183CTR(Ker)182; [2003]261ITR721(Ker)

learned standing counsel appearing for the Revenue, the Explanation inserted by the amendment to Section 32 by the Finance Act, 2001, with effect from April 1, 2002, would take us back to the position that whether or not … against the Revenue. Subsequently, the apex court in the case of CIT v. Mahendra Mills [2000] 243 ITR 56 considered the same question and held as follows (headnote) :'The language of the provisions of Sections 32 and

Syndicate Bank Employees' Co-operative Thrift and Credit Society Ltd. ...

Court : Chennai

Subject : Direct Taxation

Acts : Interest Tax Act, 1974 - Sections 2(5A); Banking Regulation Act, 1949 - Sections 3, 6, 10, 22, 51 and 56; Multi State Co-operative Societies Act; Finance (No. 2) Act, 1991; Finance Act, 1992

Reported in : [2006]287ITR40(Mad)

Sub-sections (5A) was inserted by the Finance (No. 2) Act, 1991 w.e.f. 1st Oct., 1991 and by the Finance Act, 1992, the words in a square brackets in the above sub-section, namely 'or a co-operative society engaged in carrying … of the case, the Tribunal is right in not considering the application of Section 3, Section 22 and Section 56 of the Banking Regulation Act, 1949 to the facts of the case with reference to the petitioner cooperative

Gujarat Housing Board Vs. Vipul Corporation

Court : Gujarat

Subject : Contract

Acts : Gujarat Public Works Contracts Disputes Arbitration Tribunal Act, 1992 - Sections 8(2), 8(3) and 12; Indian Contracts Act - Sections 56 and 65; Evidence Act; Code of Civil Procedure (CPC) - Sections 115

Reported in : AIR2004Guj319; (2004)3GLR1937

the express covenants thereof. The recent decision in the matter of Industrial Finance Corporation of India Ltd., vs. Cannanore Spinning & Weaving Mills Ltd. & … This revision application is filed as per Sec. 12 of the Gujarat Public Works Contracts Disputes Arbitration Tribunal Act, 1992 against an order passed by the Gujarat Public Works Contracts Disputes Arbitration Tribunal on 17.10.1997. The Tribunal is … fact whether a contract is frustrated and has become void under sec. 56 of the Indian Contract Act. Section 56 of the Contract Act contemplates that the contract may be void under its provision yet compensation may be

J.M. Shares and Stock Brokers Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Mumbai

Subject : Direct Taxation

Reported in : (2007)109ITD329(Mum.)

or dealer of vehicles and that the essential function of the lessor in this lease transaction is to finance the vehicles selected by the lessee (Clause 9a).The AO also examined Shri V. Kumar of SIL under Section … rendered in a different context i.e. in the light of Trial of Offences Relating to Transactions in Securities Act, 1992 (TORT Act). The Court was not concerned with the issue regarding allowability of depreciation under Section 32 of … Rental Depreciation Net Figure1994-95 50,88,057 1,50,44,451 (-) 99,56,3941995-96 1,01,43,072 93,50,511 7,92,5611996-97 1,01,43,072 56,10,307 45,32,7691997-98 50,71,536 33,61,184 17,05,353 (-) 29,25,716 Accordingly, the AO applied the decision

Eureka Forbes Ltd. Vs. State of Bihar and ors.

Court : Patna

Subject : Sales Tax

Acts : Bihar Finance Act, 1981 - Sections 17(2) and 19(1); Constitution of India - Articles 226 and 227

by the respondent-Deputy Commissioner of Commercial Taxes, Jamshedpur, under Section 19(1) read with Section 17(2) of the Bihar Finance Act, 1981 (annexure 1 series in respective writ petitions) ; orders of reassessment (annexure 2 series of respective writ … on different decisions of this Court, other High Courts and that of the honourable Supreme Court, including [1984] 56 STC 273 (in the case of Bhimraj Madanlal v. State of Bihar) [1985] 58 STC 119 (in the

Sebi Vs. Karvy Stock Broking Ltd.

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

Subject : Service Tax

also the role of Karvy group behind the enire gamut of operations.1.9. Further, the parliamentary Standing Committee on Finance conducted a study on "Efficacy of Reform Process in the Capital Market - Recent IPO Scam".1.10. For the … Karvy Stock Broking Ltd. as a depository participant i) Section 12A of Securities and Exchange Board of India Act, 1992 (hereinafter referred to as the 'Act') , ii) Regulation 3 and 4 of Securities and Exchange Board of … 1526 application were rejected on the ground of being multiple applications and 56 applications were rejected for want of beneficiary details. KCPL further added that

General Instruments Co. Vs. Union of India (Uoi),

Court : Mumbai

Subject : Customs

Acts : Indian Contract Act, 1872 - Sections 56; Customs Act, 1962 - Sections 25; Foreign Trade (Development and Regulation) Act, 1992; Foreign Trade (Regulation) Rules, 1993 - Rule 8; Project Import Regulations, 1965

Reported in : 2006(4)BomCR249

under Rule 8 of the Foreign Trade (Regulation) Rules, 1993 framed under the Foreign Trade (Development and Regulation) Act, 1992, the licensing authority is empowered to amend the licence. In the present case, the Special Imprest licence dated … harmoniously, then it will be a contract impossible to perform and such a contract would be hit by Section 56 of the Indian Contract Act, 1872 and in such a case the petitioner cannot be held liable for … under the global tendering procedure and that the Thal project is fully financed by the Government of India. In that certificate issued by RCF it

Jerome (Appellant) Vs. Kelly (Her Majesty's Inspector of Taxes (Respon ...

Court : House of Lords

Subject : Land Acquisition

trusts has been part of the architecture of the capital gains tax since it was introduced by the Finance Act 1965: see sections 22(5) and paragraph 13(1) of Schedule 7. Indeed, goes back even further, being derived from … of the Capital Gains Tax Act 1979 ("the 1979 Act"), since replaced by the Taxation of Chargeable Gains Act 1992 ("the 1992 Act"). The provision of central importance is section 27 (1) of the 1979 Act (now section … result. It was introduced into the capital gains tax legislation by section 56(2) and paragraph 10 of Schedule 10 of the Finance Act 1971. That

In Re: Cyberspace Ltd.

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

Subject : MRTP

of the bank account statements of some of these entities viz. M/s Amit Interchemicals P. Ltd, M/s Pradeepak Finance & Mgmt Consultants P. Ltd, M/s Shivam Multi Services P. Ltd, M/s Nucleus Softel P.Ltd, M/s Kamrao Plastique … Market) Regulations, 1995, (hereinafter referred to as "the Regulations") read with section 11 and 11B of the SEBI Act, 1992 and directed him to reply to the said notice within 15 days of the receipt thereof. It was

Edayanal Constructions and anr. Vs. Income Tax Officer

Court : Kerala

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 14, 68, 56, 56(1), 139, 142(1), 142(2A), 143, 143(1), 143(2), 143(3), 154 156 254, 271, 271(1), 276, 276C, 276C(1), 276C(2), 277, 278B and 278E; Finance Act, 1988; Indian Penal Code (IPC) - Sections 120B, 193, 196 and 420; Income Tax Rules; Code of Criminal Procedure (CrPC) - Sections 401 and 482

Reported in : (2006)203CTR(Ker)343; [2007]288ITR134(Ker)

or profession, 'E' Capital gains, and 'F' Income from other sources ('B' Interest on securities was omitted by Finance Act, 1988). Section 56 deals with income from other sources. Under Sub-section (1) of Section 56, income of every … IT Act. Petitioners challenged the conviction and sentence before Sessions Court, Emakulam in Crl. Appeal No. 105 of 1992. The learned Addl. Sessions Judge confirmed the conviction and sentence and dismissed the appeal, which is challenged in