Madhya Pradesh Court April 1977 Judgments
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Nandkumar Singh Vs. the State Industrial Court, Indore and ors.
Court: Madhya Pradesh
Decided on: Apr-30-1977
Reported in: AIR1977MP254; 1977MPLJ438
Lodha, J. 1. This case has been referred by a Division Bench of which one of us (Shivdayal C. J.) was & member, toa larger Bench with the following observations made at the time of admissions 'In view of the decision of this Court in Navalkishore Narayan Bhargava v. M. P. Road Transport Corporation, 1975 MPLJ 251, which, in our opinion, requires a re-consideration, we direct that this case be placed before the Chief Justice for constituting a larger Bench for hearing this petition.''2. The facts giving rise to this petition are these: The petitioner Nandkishore Singh was employed as a Conductor by the M.F.S.R.T. Corporation (which will hereinafter be referred to as 'the Con-poration'). On 15-8-74, when he was on (sic) in Stage Carriage No. 9259 plying on Raipur-Konda route, the Flying Squad composed of Shri S. C. Mukerji and Shri Jimnani checked the vehicle and found 56 passengers travelling without tickets even though the Conductor had charged fare from them. Accordingly, the petition...
National Newsprint and Paper Mills Ltd. Vs. Commissioner of Income-tax
Court: Madhya Pradesh
Decided on: Apr-28-1977
Reported in: [1978]114ITR172(MP); 1978MPLJ128
K.K. Dube, J.1. The following questions of law are referred to us under Section 256 of the Income-tax Act, 1961 :'(1) Whether, on the facts and in the circumstances of the case, the assessee was entitled in law to claim as a deduction from its income the whole of the amount of Rs. 75,83,183 as interest payable on the loans taken by it in the assessment year 1957-58 ? (2) Whether the liability of the assessee for payment of interest arose only on May 14, 1957, i.e., on receipt by the assessee of the letter from the State Government informing the assessee of the rates of interest which the State Government had decided to charge ? (3) Whether in any event the quantum of the interest payable by the assessee became ascertainable only on May 14, 1957, or before that date?' 2. Briefly stated, the facts as they appear from the statement of the case are as follows :3. The assessee-company was floated as a public limited company in the year 1947. It was soon realised by all concerned that the co...
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