Mumbai Court April 2004 Judgments
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New India Assurance Company Ltd., Through Its Branch Manager, Represen ...
Court: Mumbai
Decided on: Apr-01-2004
Reported in: III(2005)ACC483; 2004(4)ALLMR216; (2005)107BOMLR460
S.T. Kharche, J.1. The New India Insurance Company has filed this appeal being aggrieved by the award dated 15th January, 1994 passed by the Member, Motor Accident Claims Tribunal in M.C.A. Case No. 69 of 1990 whereby the insurance company as well as the owner and driver of the truck bearing No. MTV 1477 involved in the accident were held jointly and severally liable to pay compensation of Rs. 90.000/- to the respondent Nos. 1 and 2, the parents of the deceased Anil, with interest @ 12% per annum from the date of application till realisation.Brief facts are required to be stated as under :2. The accident occurred on 15.4.1990 at Talegaon-Ashti road. Deceased Anil was travelling as a pillion rider on the motorcycle bearing registration No. MHK 204 which was driven by one Suresh and when they came near Dharamshala on Talegaon-Ashti road at about 11.30 a.m. the truck bearing No. MTV 1477 had come from the opposite direction and gave violent dash to the motorcycle. The truck involved in th...
Oriental Insurance Co. Ltd. Vs. Ashok Ramvilasji Vyas and ors.
Court: Mumbai
Decided on: Apr-01-2004
Reported in: I(2005)ACC594; 2006ACJ879; 2004(4)ALLMR100
S.T. Kharche, J.1. This first appeal filed by Oriental Insurance Co. Ltd. takes an exception to the award dated 16.3.1990 passed by the Member, Motor Accidents Claims Tribunal in M.A.C. Petition No. 7 of 1989 whereby the appellant insurance company and the owner of Matador involved in the accident were directed jointly and severally to pay compensation to the claimant-respondent No. 1.2. Brief facts are required to be stated as under:The accident occurred on 23.7.1988. On that day the claimant Ashok had boarded Matador bearing No. MZS 677 at Akola for going to Khamgaon along with other passengers after payment of Rs. 7 as fare. Respondent No. 2 is the driver of Matador who drove it in a rash and negligent manner and, therefore, when Matador reached at the spot of accident, it had given dash to truck bearing No. MBS 1755. Respondent No. 3 is the owner of Matador, whereas respondent No. 5 is the owner of the truck and respondent No. 4 is the driver of the truck. The respondent No. 6 is N...
Cit Vs. Zuari Finance Ltd. and anr.
Court: Mumbai
Decided on: Apr-01-2004
Reported in: [2005]144TAXMAN113(Bom)
D.G. Karnik, J.This appeal at the instance of the revenue, filed under section 260A of the Income Tax Act, 1961 (hereinafter referred to as 'the Act'), is directed against the judgment and order passed by the Income Tax Appellate Tribunal on 2-5-2001.2. Respondent No. 1 is a limited company engaged, inter alia, in the business of leasing and financing. On 2-12-1996, respondent No. 1 (hereinafter referred to as 'the assessee'), filed a return of its income declaring income of Rs. 3,54,930, during the assessment year 1996-97 on gross receipts of Rs. 6,71,11,527, In the profit and loss account, the assessee has debited a sum of Rs. 17,02,225 under the head 'Depreciation', in respect of a machine called 'Mechanical Skimmer Oil and Grease Rem oval System' (hereinafter referred to as the 'skimmer machine'), The assessee had shown this machine as its fixed asset and claimed 100% depreciation on it under rule 5 of the Income-tax Rules. The assessee had also claimed a sum of Rs. 3,95,000 as a b...