Court : Kerala
Reported in : AIR1996Ker120
..... stock exchange, bombay ((1990) 69 com cas 709) for holding that stock exchange, bombay recognized under the securities contracts (regulation) act, 1956 can be considered amenable to the jurisdiction of the high court under article 226 of the constitution. 6 ..... antony's high school samudayam limited had been allowed to the company as it was not found undesirable under the provisions of the companies act, 1956 or under the guidelines issued by the department in this behalf. ..... after considering the matter, this court had observed 'unless a particular matter is specified in the companies act to be dealt with by the company court, it cannot exercise jurisdiction merely because it is also a matter which relates to a company ..... 's high school samudayam limited' incorporated under the provisionsof the companies act, 1956 on 3-1-1990. ..... air 1986 delhi 181) it was held that the jurisdiction of the central government under sections 20 and 22 of the act and the jurisdiction of the civil court operate in two different fields. 9. ..... of course, in the said decision the high court of bombay allowed the writ petition by granting the relief sought for ..... 'the judicial control over the fast expanding maze of bodies affecting the rights of the people should not be put into watertight compartment ..... this court further said 'the jurisdiction of the ordinary civil court can be regarded as ousted in respect of only those matters' which are specified in the companies act or rules to be dealt with by the company court. .....
Tag this Judgment!Court : Kerala
Reported in : 1996(54)ECC80; [1996]219ITR293(Ker)
..... in sterling foods' case : 1986(26)elt3(sc) , while considering the applicability of section 5(3) of the central sales tax act, 1956, the supreme court took the view that when raw shrimps, prawn and lobsters are subjected to the process of cutting of heads and tails, peeling, deveining, cleaning and freezing, they do not ..... would contend that even though the word used is 'manufacture' in section 2(5)(a)(ii) of the finance act, 1966, since the said section refers to industries under the first schedule to the industries (development and regulation) act, 1951, which, in turn, refers to both 'manufacture and production' for the purpose of the finance act, it has to be taken that the word 'manufacture' is used in juxtaposition with the word ..... where he is engaged in the manufacture of any articles in an industry specified in the first schedule to the industries (development and regulation) act, 1951 (65 of 1951), and has, during the previous year, exported such articles out of india, he shall be entitled, in addition to the deduction of income-tax referred to in sub-clause (i), to a further deduction, from ..... sterling foods (goa) : [1995]213itr851(bom) , the bombay high court, while considering the provision contained under section 80hh of the income-tax act, 1961, took the view that by the subjecting of prawns to processing for the purpose of export, they do not ..... the learned judges of the bombay high court dissented from the view taken by ..... on the decision of the bombay high court in cit v .....
Tag this Judgment!Court : Kerala
Reported in : (1997)138CTR(Ker)75
..... 208 of the companies act, 1956, dealing with payment on share capital in certain contingencies, emphasis is shown to s. ..... it is also observed in the process of reasoning that the expression 'actual cost' has not been defined in the act and, therefore, whether the interest paid before the commencement of production on the amount borrowed for the acquisition and installation of the plant and machinery can be considered to be part of the actual cost of the assets to ..... copious references to the standard treatises not only on the first principles of accounting, but also advance accounting, relevant provisions of the companies act, 1956 (especially s. ..... 1st april, 1984, vide finance act, 1986, that the interest upto the stage when the asset is first put to use has to be considered as part of the 'actual cost' within the meaning of s. ..... , (idbi) bombay, an amount of rupees three crores which was left in deposit with the state bank of travancore, till the assessee found it necessary to use the said amount either in the purchase of plant and machinery or in installing them or in ..... 57(iii) of the act it would not be an allowable deduction. ..... 57(iii) of the it act, 1961, would have to be granted.13. ..... 57 of the act has to be computed after making deductions specified therein. ..... 32 of the it act, 1961, dealing with the problem of depreciation. ..... 57(iii) of the act.15. ..... 43(1) of the act. .....
Tag this Judgment!Court : Kerala
Reported in : AIR1996Ker261
..... the above discussion, we are of the view that there is no merit in the objection raised by the respondent that the additional ground taken by the appellant relating to claim under section 23(1a) of the act cannot be entertained for the reason that no court fee has been paid for that relief.in the result, the land value as assessed by the reference court in l.a.r. no. ..... the right of the claimant to get 15% of the market value undersection 25(2) of the land acquisition act was not a matter in dispute either before the land acquisition court or in the appeal filed against ..... appellants are not bound to include in their valuation of the appeals the statutory solatium on market value which they are entitled to get under the , land acquisition act on the excess compensation claimed in the appeals and pay court-fee thereon.18. ..... the apex court had occasion to construe the expression 'amount or value of the subject matter in dispute in appeal' in article 1, schedule i of the bombay court-fee act (36 of 1959). ..... the learned advocate-general submitted that the question whether the claimants are entitled to the benefit off section 23(1a) of the land acquisition act is a pure question of law and it can be taken even at the appellate stage. ..... of appeals during the period 1987-88, no specific ground is taken by the appellant-state against the grant of benefit under section 23(1a) of the land acquisition act, we heard sri section narayanan potti, learned advocate general, on this aspect.11. ..... maharashtra .....
Tag this Judgment!Court : Kerala
Reported in : AIR1996Ker379
..... also held that there have been other enactments in which similar provision has been made, for example, the levy sugar was to be sold only at the controlled rate but free sugar was to be sold by the factories at a free market price and that has been always accepted as a valid classification. ..... under rule 22(2) the controller shall release any stock of molasses in favour of occupier of a sugar factory only when the same is not required for distilleries, etc ..... third point raised by the learned counsel for the appellant is that the industries (development and regulation) act, 1951 (act 65 of 1951) occupies the field as the central legislation falls within entry 52, list 1 of viith schedule ..... are not repugnant to the central enactment, the industries (development) and regulation) act 45 of 1951, falling within entry 52 of list i of the 7th schedule; nor has the centre, in any case, occupied the field in the absence of a notification under section 18g of that act empowering the authorities to control trade and commerce of alcohol'.10. ..... dealing with this contention, supreme court held thus :'pith and substance of the idr act is to provide the central government with the means of implementing their industrial policy which was announced in their resolution of 6-4-1948 and approved by the central ..... as per this sub-rule, the occupier can sell molasses only as per the price fixed in the schedule ..... , as was observed in state of bombay v. ..... , air 1956 sc 676 and southern pharmaceuticals & chemicals .....
Tag this Judgment!Court : Kerala
Reported in : (1996)135CTR(Ker)25; [1997]226ITR55(Ker)
..... ., : [1964]3scr698 , had to deal with such a situation with regard to the provisions of section 75(5) of the companies act, 1956, and in this connection in paragraph 11 thereof (at page 253) had occasion to understand the term 'allotment' occurring in section 75(1) as including the issue of shares forfeited for other ..... it was submitted before the income-tax officer, as can be found from the order, that various provisions of the income-tax act would require consideration differently, one in a situation where a shareholder in the amalgamating company has transferred his shares in that company in consideration of allotment to him of shares in the ..... is observed that such situation has its own origin and if the context or other provisions of the act are taken into consideration, the basic situation need not alter the plain situation in any manner ..... again relying on the decision of the bombay high court, pari materia, it was submitted that even factually there was no provision in the scheme of amalgamation in the case before the bombay high court which could be understood as a direction to the assessee shareholder to transfer the share to the new company or anyone ..... on the facts and in the circumstances of the case, the tribunal was right in holding that section 49(2) of the income-tax act, 1961, applied to the sale of the shares of the assessees in collis line pvt. ..... is only an arrangement whereby the assets of the two companies become vested in and under the control of one of them. .....
Tag this Judgment!Court : Kerala
Reported in : [1998]229ITR789(Ker)
..... copious references to the standard treatises not only on the first principles of accounting, but also advanced accounting, relevant provisions of the companies act, 1956 (especially section 208 thereof), together with decided cases not only of the apex court, but also of english cases will find adorning the reasoning recording conclusions in ..... proceeding further, referring to section 208 of the companies act, 1956, dealing with payment on share capital in certain contingencies,emphasis is shown to section 208(1)(b) with regard to the interest paid to the capital to be understood as part of the cost of construction of the work or building or the provision ..... it is also observed in the process of reasoning that the expression 'actual cost' has not been defined in the act and, therefore, whether the interest paid before the commencement of production- on the amount borrowed for the acquisition and installation of the plant and machinery can be considered to be part of the actual cost of the ..... purposes to understand the head 'income from other sources' with regard to the claim for deduction, it is important to emphasise that such head in accordance with the provisions of section 57 of the act has to be computed after making the deductions specified therein. ..... , bombay, an amount of rupees three crores which was left in deposit with the state bank of travancore, till the assessee found it necessary to use the said amount either in the purchase of plant and machinery or in installing them .....
Tag this Judgment!Court : Kerala
Reported in : [1997]226ITR429(Ker)
..... cit : [1975]99itr287(mad) , to the effect that the question that could be considered by the appellate tribunal in its power under section 260(1) of the act could only be one which was in dispute before the high court in the reference proceedings, leaving only to the appellate tribunal to proceed in accordance with the decision ..... earlier order of the appellate tribunal has also been examined to record that the assessee did not make any submission regarding the validity of the jurisdiction under section 147 of the act, seeking support of the order of the appellate assistant commissioner on grounds other than the grounds which are disputed by the revenue in its appeal. ..... accepting these submissions on behalf of the revenue, emphasising also the situation of finality to be found in section 33 of the 1922 act, it was observed that the situation is clear that except in cases which may go up to the high court on a reference, the decision of the appellate tribunal under ..... or otherwise of section 40a(5) and this court had succinctly answered the said question to the effect that the question of deduction of the amount of salary paid to the two managing directors should be controlled by section 40a(5) of the act. ..... assessee placed reliance on the decision of the bombay high court in itat v. s.c. ..... : [1956]29itr118(bom) , for a proposition that the appellate tribunal even acting within the limits of section 260(1) of the income-tax act, 1961, could be contemplated to get jurisdiction to consider .....
Tag this Judgment!Court : Kerala
Reported in : (1997)137CTR(Ker)115
..... the statutory provisions do provide that on receipt of the proceedings on a reference from the high court, the tribunal has to act conformably in the light of the directions in the answer to the question referred. ..... 40a(5) should be applied for controlling the allowance of remuneration to the managing directors and not s. ..... the learned counsel for the assessee placed reliance on the decision of the bombay high court in itat & ors. vs. s. c. ..... the statutory provisions further require the tribunal to act thereupon and to pass such orders as are necessary to dispose of the case conformably to such judgment. ..... 254(4) and 260(1) of the it act, 1961 to emphasise that the tribunal is expected to dispose of the proceedings received from the high court conformably to such judgment of the high court.23. ..... 253 and 254 of the it act, 1961 as well as its particulars specified in the income-tax (appellate tribunal) rules, 1963. ..... 40a(5) and this court had succinctly answered the said question to the effect that the question of deduction of the amount of salary paid to the two managing directors should be controlled by s. ..... we have already emphasised the statutory provisions under the act now in force - it act, 1961. ..... 66(1) of the it act, 1922, which was rejected by the tribunal on the ground of being outside the limits of the tribunal acting on an order in pursuance of the reference passed by the high court earlier. ..... 509 for a proposition that the tribunal even acting within the limits of s. ..... air 1956 bom. .....
Tag this Judgment!Court : Kerala
Reported in : (1997)IILLJ536Ker
..... relying on the above said observation, the division bench of the bombay high court in maharashtra sugar mills ltd. v. ..... ashru jaiwant tribhuvan air 1966 bombay 240 a case arising under the workmen's compensation act, held that the bonus can be included in wages for purposes of calculation of compensation payable to the 'workman' who has suffered permanent disablement either total or ..... is an appeal filed under section 30 of the workmen's compensation act, 1923 (hereinafter referred to as 'the act') against an order passed by the workmen's compensation com-missioner (deputy labour commissioner, kot-tayam) under section 22 of the act.2. ..... the payment of bonus act, 1965 provides for payment of bonus to persons employed in a factory and hi every other establishment employing twenty or more ..... - in this act and for the purposes thereof the expression 'monthly wages' means the amount of wages deemed to be payable for a month's service (whether the wages are payable by the month or by whatever other period or at piece rates ..... claim for bonus being a right of the workman, inde-pendent of the willingness or otherwise of the employer, is a benefit within section 2(m) of the act. ..... fixation according to the counsel, does not conform to the provisions contained in sections 2(m), 4 and 5 of the act.7. ..... main question that arises for determination in this appeal is whether 'bonus' paid to an employee can be taken into considerationwhile determining the 'wages' as defined in section 2(m) of the act.3. .....
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