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Exportos Apparel Group Ltd. Vs. Union of India and anr.

Court : Delhi

Subject : Customs

Acts : Customs Act, 1962 - Sections 25; Constitution of India - Article 77

Reported in : 58(1995)DLT297; 1997(91)ELT307(Del)

is sought quashing circular dated 9 May 1994 issued by the Government of India in the Ministry of Finance, Department of Revenue (Central Board of Excise and Customs) (C.B.E.C. for short). By this letter the C.B.E.C. had … General Foreign Trade is to be appointed by the Central Government under the Foreign Trade (Development and Regulation) Act, 1992. He is to advise the Central Government in the formulation of the export and import policy and shall … India (Allocation of Business) Rules, 1961, issued under clause (3) of Article 77 of the Constitution, all matters relating to the Customs Act and notifications … Dgft was against the provisions of the Notification. No. 203192 issued under section. 25 of the Act by the Government of India.in the Ministry of

The Custodian Vs. Union of India and Others

Court : Mumbai

Subject : Commercial

Acts : Special Courts (Trial of Offences Relating to Transactions in Securities) Act, 1992 - Sections - 4(1), 9-A, 10, 11(1) and 11(2); Income Tax Act, 1961; Insolvency Act, 1909 - Sections 49, 68, 69, 70 and 71; Constitution of India - Article 226; Finance Act, 1975; Companies Act, 1956 - Sections 77

Reported in : 2000(4)BomCR313

depend upon the assessment being made by the Income-tax Officer but, it depends on the enactment of the Finance Act prescribing rate/rates for any assessment year. Therefore, as soon as the rates are prescribed by the Finance Act, … Sale of shares of the notified parties under Special Courts (Trial of Offences Relating to Transactions in Securities) Act, 1992 (hereinafter referred to, for the sake of brevity, 'the said Act').2. Before coming to the Scheme, the following … is not obtained, the Court may also consider giving of buy-back option to companies as provided for under section 77 of the Companies Act. Mr. Cooper, the learned Counsel appearing on behalf of State Bank of India, supported

Securities and Exchange Board of India Vs. Pan Asia Advisors Ltd. and ...

Court : Supreme Court of India

Subject : Land Acquisition

respondent, it is stated that the said respondent’s name has been changed and is now known as Global Finance & Capital Limited, having its office International Corporate House, Monster House, 42 Mincing Lane, London and represented by … arises in this appeal relates to the jurisdiction of SEBI under the Securities and Exchange Board of India Act, 1992, (in short “SEBI Act, 1992”) to initiate proceedings against the respondents as Lead Managers to the Global Depository … rendering services in connection with instruments that are defined as securities under Section 2(h) of the Securities Contracts (Regulation) Act, 1956 (in short “SCR Act, … favour of Euram. In this context, heavy reliance was placed upon Section 77(2) of the Companies Act which prohibited any public company or private company

Engineering Analysis Centre Of Excellence Private Limited Vs. The Comm ...

Court : Supreme Court of India

Subject : Direct Taxation

advance, where it is so deductible or payable under any provision of this Act.” 14 Substituted by the Finance Act 1992 (18 of 1992), sec. 3(c) (w.e.f. 1-6-1992). 28 “5. Scope of total income. (1) Subject to the provisions … be 22 Inserted by the Finance Act 2012 (23 of 2012), sec. 77(a)(ii) (w.r.e.f. 1-4-1962). 34 deemed to have always extended to all persons, resident … to royalty and as this was so, the same constituted taxable income deemed to accrue in India under section 9(1)(vi) of the Income Tax Act, 1961 [“Income Tax Act”]., thereby making it incumbent upon all such persons

Shankarlal Vs. Income-tax Officer and ors.

Court : Andhra Pradesh

Subject : Direct Taxation

Acts : Income Tax Act, 1961 - Sections 70, 74, 76, 77, 78, 119, 132, 132A, 139, 140A, 142, 142(1), 143 and 148; ;Wealth Tax Act, 1957 - Sections 37A and 37B; Income Tax Act, 1961 - Sections 28

Reported in : (1998)144CTR(AP)424; [1998]230ITR536(AP); [1998]99TAXMAN500(AP)

IV of the Finance Act, 1997, does not contain any section enabling the CBDT to issue any clarifications. Section 77 only enables the Board to make rules which are also to be laid before each House of Parliament. … stated that no circulars of CBDT have been issued which are in conflict with S. 64 of the Finance Act, 1997. In the reply-affidavit, it is reiterated that the denial of the benefit of the Scheme to the … Act was taken in the case of Mr. A on 30th March, 1992, and the same was concluded on 5th April, 1992. Can he take

Pan Asia Advisors International Corporate Finance Minster House and An ...

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

Subject : MRTP

Receipts Mechanism) Scheme, 1993 (“the GDR Scheme”) issued by the Ministry of Finance, Government of India and the Master Circular on Foreign Investment issued by … Appellants from accessing the securities market for 10 years for the violation of Regulations 12A(a)-(c) of the SEBI Act, 1992 read with Regulations 3(c)-(d), and Regulations 4(1), 4(2)(c), 4(2)(e)-(f), 4(2)(k) and 4(2)(r) of the Securities and Exchange Board … of the transactions in Austria is irrelevant. The Appellants point out that certain allegations, i.e., allegations relating to Section 77 of the Companies Act, 1956, allegations with respect to the judgment in the case of Gammon India Limited

Sri Parimal and anr. Vs. State and ors.

Court : Patna

Subject : Civil

30.11.1994 on payment of 5.5 lacs. According to the petitioners, in view of the provisions of the Bihar Finance Act, 1981 (Part II) (In short 'the Finance Act'), they had obtained permission of the Sales Tax Department for … cases, at the relevant time, were carrying on business of advertising agency, Petitioner in C.W.J.C. No. 8265 of 1992 was a lessee of the District Board for five years with effect from 1.4.1989 to 31.3.1994 whereas petitioner … of the Finance Act, the Commercial Taxes authorities were duly empowered under Section 77(a) of the Finance Act to take a suitable action. But, the

Chenai Finance Co. Ltd. Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Hyderabad

Subject : Direct Taxation

Reported in : (2002)81ITD7(Hyd.)

Companies Act. We may now reproduce below the relevant provisions of Section 145, which before its amendment by Finance Act, 1995, with effect from 1-4-1997, reads as under- 145(1) Method of accounting-(1) Income chargeable under the head "Profits … the decisions of the Apex Court in Investment Ltd. v. CIT [1970] 77 ITR 533 and in CIT v. A.Krishnaswami Mudaliar [1964] 53 ITR 122. … Hyderabad, dated 18-9-1995, passed under Section 263 of the Income-tax Act, 1961 for the assessment years 1991-92 and 1992-93.2. The common effective grievance of the assessee in these appeals is that the CIT(A) erred in assuming jurisdiction

In Re: Vital Communications Ltd.

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

Subject : Land Acquisition

asking them to show cause as to why appropriate direction under Sections 11 and 11B of the SEBI Act, 1992 including a direction debarring them from accessing the capital market and trading in securities should not be issued … their work done). The same money then came back to VCL as share application money, thereby clearly violating Section 77 of the Companies Act, 1956.25. At the time of opening their demat accounts, all the above mentioned 15 … events can be best summarised as below. In the year 1999, VCL financed the subscription of its own preferential issue through related and associated entities.

Home Solutions Retails (India) Ltd. Vs. Union of India and ors.

Court : Delhi

Subject : Constitution

Acts : Constitution of India - Articles 226, 246; Finance Act, 1995 - Section 65(105)(zzzz); Companies Act, 1956; Transfer of Property Act, 1882 - Section 105; Indian Easements Act

Act, 2010, Section 65(105)(zzzz) had been amended to clarify the intent of the legislature w.e.f. 11.5.2007 and further Section 77 of the Finance Act, 2010 validated all actions. Referring to the first Home Solutions case (supra), the learned … petitions preferred under Article 226 of the Constitution of India, the constitutional validity of Section 65(105)(zzzz) of the Finance Act, 1995 (for short „the 1995 Act) and Section 66 as amended by the Finance Act, 2010 (for brevity