Court : DRAT Madras
Reported in : III(2006)BC217
..... amount of pendente lite interest decreed is not to be included in the 'amount or value of the subject matter in dispute in appeal' for the purposes of article i of schedule i of the act unless the appellant specifically challenges the correctness of the decree for the amount of interest pendente lite independently of the claim to set aside that decree. ..... the determination was, "whether the amount of interest decreed for the period subsequent to the institution of a suit comes within the expression 'amount or value of the subject matter in dispute' in article i of schedule i of the bombay court fees act, 1959". ..... the contention of the learned advocate for the petitioners/appellants that there is no such corresponding provision in the drt act, which mandates the petitioners to include the interest also along with the decree amount at the time of filing the ..... course of the judgment, their lordships of the hon'ble supreme court have observed that "the act is a taxing statute and its provisions therefore have to be construed strictly, in favour of the ..... governed by the tamil nadu court fees and suits valuation act, 1955 (act 14 of 1955). ..... appellants have not produced the bombay court fees act for reference. ..... submission, he relied upon the decision rendered by the hon'ble supreme court, in the case of state of maharashtra v. ..... the term debt is defined under section 2(g) of the act, which states," 'debt' means any liability (inclusive of interest) which is claimed as due from any person by a bank .....
Tag this Judgment!Court : DRAT Madras
Reported in : I(2007)BC86
..... recoverable from him in execution of this certificate.it is also pointed out that the appellant herein had filed the application before the recovery officer under rule 57 read with rule 61 of the second schedule to the income-tax act, 1961, and as such, he should have complied with the requirements under rule 61 and admittedly the appellant has not deposited the amount recoverable from him in the execution of the certificate and ..... , a specific question was framed by the court: "whether and to which extent, the procedure under rule 11 of the second schedule to the income-tax act, 1961, is applicable in execution of a recovery certificate issued under section 19(7) of the recovery of debts due to banks and financial institutions act, 1993" and after having discussed the matter at length and breadth had opined: "32. ..... and after making a thorough analysis of the decision rendered by the supreme court in the above case and considering the powers conferred under section 29 of the act has opined: "section 29 of the act thus authorises the debt recovery officer to follow the second and third schedules to income-tax act, 1961 as far as possible with necessary modifications. ..... of maharashtra and ors ..... the bombay high court in the case of keshrimal jivji shah and ..... (1955) scr 108, wherein it was held that, "the provisions of rules 84 and 85 of order 21 of the code of civil procedure requiring the deposit of 25 per cent of the purchase money immediately on the person being declared as a purchaser .....
Tag this Judgment!Court : DRAT Madras
Reported in : III(2007)BC7
..... learned advocate for the auction purchaser has also advanced an argument that the appellants have not chosen to file the application to set aside the sale as required under rule 61 of the second schedule to the income tax act, which says that, "such an application should be filed within thirty days from the date of the sale and that application should be filed only on the ground of material irregularity in publishing ..... " ultimately ruled, "parliament does not make it mandatory or compulsory for the recovery officer to apply the second and third schedules to the income tax act and 1962 rules, advisedly because the legislature has taken safeguards after investigation of claims and objections by the recovery officer, they have also relied upon, assented ..... held that the rules to second and third schedules of the income tax act can be followed as far as possible and granted of time for the payment of the balance of the sale consideration beyond 15 days as prescribed under rule 57 is neither irregular nor illegal.bombay high court in the case of keshrimal jivji ..... 1-bank has argued that the provisions of the second and third schedules to the income tax act, 1961, and the income tax rules, 1962, are governed and controlled by section 29 of the rddbfi act, which states, "the provisions of the second and third schedules to the income tax act, 1961 (43 of 1961) and the income tax (certificate proceedings) rules, 1962, as in force from time-to-time shall, as far as possible, ..... of maharashtra iv .....
Tag this Judgment!Court : DRAT Madras
Reported in : I(2006)BC206
..... further vehemently contended that the 1st respondent is not an aggrieved person and, therefore, he is not entitled to set aside the sale" and he relied upon rule 60 of the second schedule to the income tax act, 1961, which states: (1) where immovable property has been sold in execution of a certificate, the defaulter, or any person whose interests are affected by the sale, may, at any ..... court by its order dated 14.2.2003 had disposed of the writ petitions and writ miscellaneous petitions by observing that, "it is for the forum constituted under the recovery of debts due to banks and financial institutions act, 1993, to decide all other controversies or other disputes in respect of the proceedings before it as well as subsequent auction sale and purchase and it is open to the parties to work out whatever ..... officer shall intimate to the recovery officer any order withdrawing or cancelling a certificate or any correction made by him under sub-section (2).sub-clause (2) of section 26 of the 'act' empowers the presiding officer to withdraw the certificate or correct any clerical or arithmetical mistake in a certificate by sending an intimation to the recovery officer, and this could be done ..... the learned advocate for the appellant had straightaway taken me to section 26 of the rddb & fi act, 1993, which deals with validity of certificate and amendment thereof, which runs as under: (1) it shall not be open to the defendant to dispute before the recovery officer ..... of maharashtra v. ..... bombay .....
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