Court : Punjab and Haryana
Decided on : Jul-25-2003
Reported in : (2003)135PLR828
..... .- (1) the returning officer (panchayat) or the assistant returning officer (panchayat), shall - (a) declare to be elected the candidate for the office of panch who has secured the largest number of valid votes and certify the return of election in form 18. similarly, the result of sarpanch shall also be declared forthwith but if there are more ..... for the petitioner states that the revision itself would be infructuous if during the pendency of the revision the direction for recounting is complied with. we find sufficient force in the same. we set aside the impugned order of the high court. the appeal is allowed.the high court of punjab and haryana is requested to ..... request de hors of the corrupt practices or other allegations prima facie may justify passing of an order within the scope of section 176(4)(b) of the act. the legislative intent requiring expeditious disposal of a petition and passing of an order of scrutiny and computation without detailed inquiry is explicit in the language of .....
Tag this Judgment!Court : Company Law Board CLB
Decided on : Oct-21-2003
Reported in : (2004)51SCL387
..... for the year 1999-2000, calling for the details of material purchased miscellaneous expenses; legal and professional fees incurred by the company; non-closure of secured loan; details of insurance account; bank charges and commission paid, use of the company's premises and vehicles by certain directors and employees for their ..... scribblings do not prove misappropriation of funds on the part of the ninth respondent. the first petitioner misusing his position as director of the company forced certain employees to give written notes abusing the ninth respondent with misappropriation of funds of the company. nevertheless, this amount of rs 1,10,000 ..... . any removal of the family members from employment of the company, being wholly held by a family attracting the principles of partnership, would constitute an act of oppression. admittedly, the ninth petitioner challenged his removal before the labour court and industrial court, which ultimately ended against his favour. similarly, the company .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Kolkata
Decided on : Jan-18-2003
Reported in : (2004)89ITD347(Kol.)
..... shares except its chairman, although those shares were quoted in the stock exchange. the fact that though the sale through broker of listed shares is essential under the securities contracts (regulation) act, 1956, it was not done in the instant case was also ignored by the tribunal. the tribunal failed to take note of the fact that the assessee- ..... -company to take over and run its fruit drinks business. the industrial credit & investment corporation of india ltd. (icici, short), upon appraisal of fruit drink products, advance secured loan to keventer to part finance the product. as on 31-3-91 the paid up capital of keventer stood at rs. 2,50,90,000/- divided into 25,09 ..... same price after 7-8 months of their purchase, and as such the buyer companies did not make any commercial gain has substantial force in it.it is apparent that the five companies had acted only at the dictation of the assessee-company as clear from the conduct of five companies in first purchasing the shares as and when .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Pune
Decided on : Feb-25-2003
Reported in : (2004)90ITD115(Pune.)
..... this respect." the facts leading to the impugned addition have been discussed by the ao on pp. 14 and 15 of the assessment order under the head "shares secured with citibank". the ao noted that the assessee had pledged certain shares with citibank, mumbai. he obtained details from the citibank and supplied the same to the assessee ..... . the learned departmental representative relied upon the order of the ao.26. we have considered the rival submissions and perused the facts on record. we find considerable force in the submissions of the learned counsel, but the facts and figures given by the learned counsel need verification at the end of the ao. we accordingly direct ..... life insurance premiums and other investments made from year to year eligible for the relief as per the various provisions of chapters vi-a and viii of the act. the appellant be granted relief under provisions of said chapters." the assessee claimed interest on accrual basis for the years covered in the block period and claimed .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Pune
Decided on : Mar-05-2003
Reported in : (2003)86ITD256(Pune.)
..... . the directors believed that it would be good for the progress of the paper.she attended the graduates' school of journalism at columbia university in new york and secured the degree of master of journalism and, thereafter, spent three months to obtain practical training in printing and lithography. on her return from u.s.a., she ..... case of cit v. hindustan hosiery industries [1994] 209 itr 383.38. we have considered the rival submissions and perused the facts on record. we find great force in the contentions of learned counsel for the assessee and hold that shri k.p. vora was the most suitable candidate in the assessee's business and just because ..... which it was considered under the statute from which it was taken and for this reason, computation of profit has to be made as understood under the companies act. accordingly, we do not find any merit in the contentions of the learned departmental representative these grounds are accordingly allowed.32. in the assessee's appeal relating .....
Tag this Judgment!Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT
Decided on : Aug-29-2003
Reported in : (2004)1CompLJ258SAT
..... of shares and takeovers having a bearing on the issues involved in the present appeal. in terms of section 11(1)(h) of the securities and exchange board of india act, 1992 (the sebi act) one of the functions of the respondent is regulating substantial acquisition of shares and takeover of companies. for the purpose the respondent has notified ..... way of refund in a public issue from an issuer company. in my view 15 per cent interest payable under section 73(2a) of the companies act should be in equal force applicable to the instant case. therefore, direction to pay interest at 15 per cent in the instant case can not be considered as unjustified." 113. ..... benediction" 46. shri dada submitted that even though the said observation was made in the context of avoidance of tax, the principle laid down therein is in equal force applicable to the appellants' case also as it had a device brought in to avoid compliance of the provisions of the takeover regulations.47. learned senior counsel submitted .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Pune
Decided on : Mar-05-2003
Reported in : (2004)82TTJ(Pune.)667
..... limitation of time. such a retraction was made simply by mentioning in the aforesaid letter to the cit that the statement recorded by the customs authorities was under threat and force and since the assessee was scared both by mr. r.d. mehta as well as by the attitude of the customs authority, he had no alternative but to state the ..... determine the undisclosed income of the block period in the manner laid down in section 158bc and the provisions of section 142, 143(2)(iii), 144 and 145 of the act so far as may be applicable. the resort to estimation as per section 145 based on the incriminating documents and material found during the course of search by invoking section ..... of the same amount in the hands of other persons can be deleted under section 154 even after the expiry of time limit fixed under section 154(7) of the act. this will obviate levy of double taxation of the same amount in the hands of more than one person.25. the learned counsel made elaborate submissions with regard to the .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Ahmedabad
Decided on : Oct-16-2003
Reported in : (2004)83TTJ(Ahd.)274
..... carry on the business of manufacture and sale of aluminium conductors. the company started negotiations for purchase of raw materials since incorporation. the company also started securing orders well in advance of the date on which it actually started production of aluminium conductors. the company actually started production of conductors on 27th june, ..... authorities have further erred in not appreciating the facts and law in their proper perspective. learned ao seriously erred in law in not observing and acting against the principles of natural justice in as much as time granted to the appellant for clarification and producing evidences was very short and the entire ..... lower authorities have further erred in not appreciating the facts and law in their proper perspective. learned ao seriously erred in law in not observing and acting against the principles of natural justice in as much as time granted to the appellant for clarification and producing evidences was very short and the entire .....
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