Mumbai Court October 1991 Judgments
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Maharashtra State Financial Corporation Vs. Masvi and Company Pvt. Ltd ...
Court: Mumbai
Decided on: Oct-21-1991
Reported in: [1993]76CompCas168(Bom)
S.N. Variava J.1. This is a petition filed by the Maharashtra State Financial Corporation under sections 31 and 32 of the State Financial Corporations Act, 1951. The Maharashtra State Financial Corporation is a statutory Corporation established under the abovementioned Act. The first respondent was a company incorporated under the Indian Companies Act and had its registered office and a factory in Pune. The second respondent was the managing director of the first respondent and had also mortgaged his personal properties as security for loans granted to the first respondent company. 2. By an indenture of mortgage dated 29th June, 1964, the first and second respondents mortgaged in favour of the petitioners, the properties mentioned in the deed of indenture of mortgage in consideration of an advance in a sum of Rs. 2,50,000 with interest thereon. The amounts were to be repaid by 17 half-yearly instalments. 3. By a further deed of charge dated 4th June 1968, the first and second responden...
Union of India Vs. Sahney Steel and Press Works Ltd.
Court: Mumbai
Decided on: Oct-21-1991
Reported in: 1991LC321(Bombay); 1992(58)ELT38(Bom)
Bharucha, J. 1. The appeal is directed against the judgment and order of the learned single Judge making the writ petition filed by the respondents to the appeal absolute. 2. The respondents manufacture starter armatures which are parts of starter motors used in automobile engines for starting them. The contention of the appellants was that starter armatures fell within Item 30, sub-item (4) of the Tariff under the Central Excises and Salt Act which reads thus : 'Electric Motors, all sorts and parts thereof, namely : 1. x x x x x x2. x x x x x x3. x x x x x x4. Parts of electric motors. Explanation - This item does not include motors specially designed for use in gramophones or record players and all parts of such motors.' According to the respondents, starter armatures were parts of automotive starter motors. They could not rotate and start the automotive engine by themselves; they had to be fitted into a starter housing which consisted of various other parts. While the principle of...
Union Bank of India Vs. Dalpat Gaurishankar Upadhyay
Court: Mumbai
Decided on: Oct-21-1991
Reported in: 1992(1)BomCR354
D.R. Dhanuka, J.1. The plaintiff Bank has filed this suit against the defendant for recovery of a sum of Rs. 5,55,259.35 with further interest thereon at the rate of 16.5 per cent per annum with quarterly rests from the date of the suit till payment and for enforcement of the securities created by the defendant in favour of the plaintiff referred to in the plaint. The plaintiff has relied upon several documents, including a promissory note dated 9th July, 1984 (Exhibit ' A' to the plaint) in support of its plea that the defendant had agreed to pay the amount of interest to the plaintiff 'with quarterly rests'.2. The plaintiff applies for ex-parte decree against the defendant and prays for award of interest pendente lite and post-decretal on the amount due and payable by the defendant to the plaintiff as on the day of the suit.3. Section 34 of the Code of Civil Procedure empowers the Court to award post-decretal interest and interest pendente lite 'on the principal sum adjudged' at such...
Dinkar Dada Mahadik Vs. Shrirang Dada Mahadik and ors.
Court: Mumbai
Decided on: Oct-21-1991
Reported in: (1991)93BOMLR617
A.D. Mane, J.1. This second appeal, at the instance of original plaintiff No. 2, arises on the following facts: - The properties in suit originally owned by one Jagubai wd/o Yeshwant Jadhav. She had adopted one Jayvant Yeshwant Jadhav as her son. After the death of Jagubai, Jayvant succeeded to her estate in the suit lands. The suit lands were mortgaged to and in possession of Bala Krishan and Dada Krishan. In 1963 Jayvant however redeemed the mortgage and obtained possession of the lands through Court.2. On June 24, 1965 Jayvant executed a registered agreement of sale in favour of plaintiff No. 1 and on November 30, 1965 executed a regular sale deed in his favour. On October 12, 1965 the defendant filed a tenancy application under Section 70-B of the Bombay Tenancy and Agricultural Lands Act, 1948 (for short, the Act), inter alia, claiming that he was inducted as a tenant on the lands by Jayvant in the year 1963. The plaintiff purchaser was, however, not made a party to the said proce...
Trades International Vs. Collector of Customs
Court: Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai
Decided on: Oct-18-1991
Reported in: (1993)(47)LC694Tri(Mum.)bai
1. This is an appeal against the Order of the Collector (Appeals) bearing No. 1018/86-BCH dated 17.6.1986.The appellants imported a consignment of single metal thick walled bearings for engines of trawlers and claimed clearance as spares for trawlers under OGL Appendix 6 Serial No. 42 (4) of AM 1984-85 Policy.The said Serial No. 42 (4) of Appendix 6 reads as follows: Spares, except those included in Appendices 2,3 Part A, 4 Part A, 8 and 10 of- However, the Department objected to their clearance on the ground that the goods appear against serial No. 438 of Appendix 3 Part A. The item at serial No. 438 of Appendix 3, Part A reads as below: Bimetal/trimetal/multimetal bearings and bushes including engine bearings and bushes, semi-finished/under sized/oversized.In the adjudication proceedings held by the Deputy Collector, it was held that all engine bearings and bushes are covered by their specific inclusion in Serial number 438 of Appx. 3 Part A aforesaid, and hence the goods were not p...
Asha Cellulose (i) Pvt. Ltd. Vs. Collector of Customs
Court: Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai
Decided on: Oct-18-1991
Reported in: (1992)(59)ELT550Tri(Mum.)bai
1. This appeal is directed against the Order-in-Original No.S/10-155/89-II dated 22-9-1989 of the Additional Collector of Customs, Bombay, ordering confiscation of the consignment of 5030 kgs. of non-alloy steel based nickel cludded plates, vide Section 111(d) of the Customs Act, but granting option to pay fine of Rs. 50,000/- in lieu of confiscation.2. The appellants imported the subject consignment and sought clearance for home consumption, claiming the items as importable under Open General Licence, vide Entry No. 851 of List 8 Part I of Appendix 6 of ITC Policy 1988-91. The item was importable by Actual User (Industrial). The appellants were holding provisional industrial licence for manufacture of ethyl cellulose, and the item imported was claimed to have been required for the purpose of manufacture of reactor vessel. The departmental authorities therefore felt that the item was meant for manufacture of chemical machinery, and the appellants did not possess the licence in relatio...
New Synthetic Chemical Vs. Collector of Customs
Court: Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai
Decided on: Oct-18-1991
Reported in: (1992)(43)LC531Tri(Mum.)bai
1. Invoking the provisions of Section 130(1) of the Customs Act 1962, the applicants have sought for reference to the High Court on the question of law as formulated by them, as arising out of the Bench's Order No. 495/89-WRB dated 8.6.1989 in appeal No. CD (Bom) A 1473/83.2. The applicants, as the Letters of Authority holders, imported a consignment and filed a B/E for home consumption seeking clearance of the subject items under two licences. On scrutiny, the departmental authorities however, found that one of the licences had already been cancelled 'ab initio' and for the other one, proceedings for cancellation ab initio were already initiated. The import was therefore held as unauthorised. From the order in original, it appears that the applicants conceded this position and requested for taking lenient view as they had opened the Letter of Credit prior to cancellation of the licence. The adjudicating authority however ordered absolute confiscation without imposing any personal pen...
Plasticotes Investments Ltd. Vs. Assistant Commissioner of
Court: Income Tax Appellate Tribunal ITAT Mumbai
Decided on: Oct-18-1991
Reported in: (1992)40ITD332(Mum.)
1. The issue, as to whether the value of a flat owned by a company, not being a company in which the public are substantially interested, (hereinafter referred to as a 'closely held company') could be considered for the purpose of determining the net wealth of such a company, is involved in these appeals filed by the assessee. The assessee is a closely held company. The assessment years are 1984-85 to 1987-88 and the relevant valuation dates are 31st of December, 1983/84/85 & 86 respectively.2. The assessee is a wholly owned subsidiary of Bhor Industries Limited (BIL). The BIL owned 3 flats along with car parking, garages, by virtue of holding certain shares in the respective co-operative housing societies as under:--Bldg. Flat No. Value & no. of sharesBennet Villa No. 42 5 shares of Rs. 50 eachAnand Kamal No, 3 & 4 297 shares of Rs. 50 eachNeelkant No. 25 5 shares of Rs. 50 each.Under agreements all dated 4-11-1980 entered into between the assessee and BIL, the assessee p...
Sayad Mohammed Sadiq and ors. Vs. G.S. Narang, Asst. Collector of D.R. ...
Court: Mumbai
Decided on: Oct-18-1991
Reported in: 1992(1)BomCR359
S.M. Daud, J.1. This revision takes exception to the conviction and sentences recorded against the petitioners for their allegedly committing offences punishable under various sections of the Customs Act, 1962 and section 120-B of the Indian Penal Code. 2. The petitioners before me were arraigned along with some others as accused Nos. 2, 3, and 4. The case of the complainant-respondent No. 1 who is an Assistant Director attached tothe Directorate of Revenue Intelligence, was, that the Directorate had received a tip that Indian nationals travelling from Singapore to Dubai via Bombay and vice-versa by flights of the Singapore Air Lines (SAL) were indulging in smuggling of gold of foreign origin into the country. In this object the Officers of the SAL were being utilised by the smugglers. A team of Officers of the DRI kept a watch at the Santacruz Airport on the night in between 5th and 6th of September, 1979. Flight No. SQ-73 landed at the Airport a little after midnight on 6th of Septem...
Zenith Computers Ltd. Vs. Collector of Central Excise
Court: Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai
Decided on: Oct-16-1991
Reported in: (1995)(76)ELT169Tri(Mum.)bai
1. This is an appeal directed against the Order-in-Appeal bearing No.SKM-170/90-B-I, dated 8-2-1990 passed by the Collector of Central Excise (Appeals), Bombay, rejecting the appeal of the appellants.2. The facts of the case are that the appellants received cabinets which are inputs for manufacrure of computers from a small scale unit availing exemption under Notification No. 175/86. At the time of receipt of the inputs they took the credit as indicated in the Gate Pass namely Rs. 11,985/-. They detected later that they have not taken the higher notional credit eligible to them under the aforesaid notification and also permitted under Rule 57B of the Rules. Hence, they took the credit of difference between the higher notional credit and the credit originally taken on 12-11-1988. This credit was taken within 4 days of taking the original credit. This position was also indicated suitably in the RT- 12 Return filed for the month alongwith the extract of RG-23A Part II. However, the Supdt...
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