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Gulbanu Razack Vs. Assistant Commissioner of Income-tax (investigation ...

Court : Andhra Pradesh

Subject : Direct Taxation

Acts : Income-tax Act, 1961 - Sections 80C, 80L, 132, 132(1), 132(4), 132(4A), 132(5), 132(7), 132(11), 132(12), 132B, 132B(3), 132B(4), 244A, 297 and 297(2); Interest Act, 1978 - Sections 4; ;Indian Contract Act, 1872- Sections 73

Reported in : [1990]186ITR226(AP)

payable under the common law or equity jurisdiction of the court as also under the provisions of the Interest Act, 1978, and, in particular, section 4(1) of that Act which preserves the right of parties to claim interest outside … entitled to be compensated in the same manner as interest is claimed by the Government from assessees under sections 234A and 234B of the Act. It is further alleged that, under section 132(5), the enquiry is to … arising in the case, it is necessary to state the following facts. 3. A search operation was conducted by the income-tax authorities under section 132

Vivek Sondhi Vs. N.D.M.C.

Court : Delhi

Subject : Property

Acts : Public Premises (Eviction of Unauthorised Occupants) Act, 1971 -Sections 5, 5(1), 5(2), 7 and 7(2A); Interest Act, 1978 - Sections 2 and 3

Reported in : 2003(66)DRJ142

may be prescribed, not being a rate exceeding the current rate of interest within the meaning of the Interest Act, 1978 (14 of 1978).Section 2(b) of the Interest Act, 1978 reads as under :-'Current rate of interest' means the … Bank of India under the Banking Regulation Act, 1949 (10 of 1949).9. On a reading of the aforesaid sections, it is quite clear that the Estate Officer could award interest not exceeding the rate of interest as … payment of current interest.4. Briefly stated the facts are that shop No. 3 at Safdar Hashmi Marg was allotted to the petitioner w.e.f. 24.5.1994 at

State of Orissa Vs. B.N. Agarwalla, Etc.

Court : Supreme Court of India

Subject : Arbitration

Acts : Constitution of India - Article 136; Interest Act, 1978 - Sections 3(1);Code of Civil Procedure (CPC) - Sections 34; Negotiable Instruments Act - Sections 80; Sale of Goods Act - Sections 61(2);

Reported in : AIR1997SC925; 1997(1)ARBLR612(SC); JT1997(2)SC51; 1997(1)SCALE599; (1997)2SCC469; [1997]1SCR704

arbitrator could not award interest for pre-reference period in cases which arose prior to the commencement of the Interest Act, 1978 unless the claimant had a substantive right to get interest under the terms of a contract or under … nevertheless interest should be allowed for that period on the principle that this Court could, once proceedings under Sections 15 to 17 of the Arbitration Act are initiated, grant interest pending the litigation before it i.e. from … as the arbitrator was not a Court within the meaning of Section 34 of CPC, therefore, he could not award pendente lite interest. With regard

U.P. Co-operative Federation Ltd. Vs. M/S. Three Circles

Court : Mumbai

Subject : Arbitration

Acts : Arbitration Act, 1940 - Sections 29, 30, 39 and 41; Interest Act, 1978 - Sections 2 and 3; Interest Act, 1839; Code of Civil Procedure (CPC), 1908 - Sections 34 and 35(3); Banking Regulation Act, 1949; Partnership Act, 1952 - Sections 37

Reported in : 2000(3)ALLMR608; 2000(3)BomCR360; (2000)3BOMLR430; 2000(3)MhLj730

order as to costs.37. Appeal partly allowed. Arbitration Act, 1940 - Section 13 and Interest Act, 1978 - Sections 2(c) and 3 - Interest - Power of Arbitrator to award - Cannot grant interest at more than … interest and the rate of 15% p.a. is far in excess of what is contemplated even under the Interest Act, 1978. (v) The arbitrator erred in granting interest on interest on two of the claims.(vi) Finally, the arbitrator erred

Motandas Nandiram Vs. Municipal Corporation of Greater Bombay

Court : Mumbai

Subject : Arbitration

Acts : Arbitration Act, 1940 - Sections 29; Interest Act, 1978 - Sections 3 and 6(2)

Reported in : 1992(3)BomCR74

Issue of certified copy of this order as well as the decree is expedited. Arbitration - applicability - Sections 3 and 6 (2) of Interest Act, 1978 and Section 29 of Arbitration Act, 1940 - whether interest can … passing of the decree if the award is made prior to 19th August 1981 i.e. the date when Interest Act, 1978 came into force.2. In Srikantia & Co. v. Union of India, : AIR1967Bom347 , Tulzapurkar, J., held that

Ultimate Advertising and Marketing Vs. G.B. Laboratories Ltd., Kanpur

Court : Allahabad

Subject : Company

Acts : Companies Act, 1956 - Sections 433 and 434; Interest Act, 1978 - Sections 3; Sales Goods Act, 1930; Code of Civil Procedure (CPC), 1908

Reported in : 1998(2)AWC1314; [1989]66CompCas232(All)

of such Interest may exceed six per cent. A reference was also made to Section 3(b) of the Interest Act, 1978 where the Court/Tribunal is entitled to award interest on the conditions being satisfied under the aforesaid provision.6. The … is accordingly dismissed. The parties shall, however, bear their own costs. Company - non payment of interest - Sections 433(e) and 434 of Companies Act, 1956 - winding up petition filed on grounds that company is unable

Shri Radha Kishan Aggarwal and ors. Vs. M/S. Network Ltd. and ors.

Court : Delhi

Subject : Banking

Acts : Interest Act, 1978 - Section 3

of interest has been pleaded or proved. Admittedly, no notice of the nature envisaged in Section 3 of Interest Act, 1978 was given by the plaintiffs to defendant No.1 at any point of time. Hence, interest cannot be awarded … respect to payment of interest has been pleaded or proved. Admittedly, no notice of the nature envisaged in Section 3 of Interest Act, 1978 was given by the plaintiffs to defendant No.1 at any point of time.

Sri Siya Ram and Others Vs. Smt. Lilawati

Court : Allahabad

Subject : Civil

Acts : Evidence Act, 1872 - Sections 101; Code of Civil Procedure (CPC), 1908 - Sections 34 and 100 - Order XLI, Rule 11; Interest Act, 1978 - Sections 3

Reported in : AIR1990All75

it is agreed upon between the parties or it is provided under some statute. Section 3 of the Interest Act, 1978 also does not support the claim of the appellants for interest in the facts and circumstances of this … IC 1858 Overruled]. -- MAHARASHTRA EMPLOYEES OF PRIVATE SCHOOLS (CONDITIONS OF SERVICE) REGULATIONS ACT, 1978 [Act No. 3/1978]. Sections 9 & 2(21): Jurisdiction of School Tribunal Whether a School run by Cantonment Board is not a recognised

M.L. Sharma Vs. State Trading Corporation of India

Court : Delhi

Subject : Arbitration

Acts : Arbitration Act, 1940 - Sections 20; Interest Act, 1978 - Sections 3

Reported in : 70(1997)DLT1; 1997(43)DRJ290

arbitrator had no jurisdiction to grant interest under this Head. He has argued that the provisions of the Interest Act, 1978 which came into force with effect from August 19, 1981 do not provide grant of pre-reference interest as … out of the execution of the works and such disputes were referred in the respective petitions filed under Section 20 of the Arbitration Act before this Court i.e. Suit Nos. 341-A/87, 342-A/87 and 343-A/87. The order dated … Section 20 of the Arbitration Act before this Court i.e. Suit Nos. 341-A/87, 342-A/87 and 343-A/87. The order dated September 23, 1988 which is common

Bharat Engineering Enterprises Vs. D.D.A. and anr.

Court : Delhi

Subject : Arbitration

Acts : Arbitration Act, 1940 - Sections 14, 30 and 33; Interest Act, 1978 - Sections 3

Reported in : 2007(1)ARBLR90(Delhi); 136(2007)DLT379

not justified. Besides, the respondent views the rate of interest so awarded as being against the provisions of Interest Act, 1978 and seeks the award being appropriately modified.6. In reply to the objections, it was pleaded that appreciation of … and the arbitration proceedings.4. On a notice of award being served, the respondent No. 1 filed objections under Sections 30/33 of the Arbitration Act, 1940.5. The challenge to the award is directed against award of amounts under … of award being served, the respondent No. 1 filed objections under Sections 30/33 of the Arbitration Act, 1940.5. The challenge to the award is directed