Court : Gujarat
Decided on : Jan-23-1975
Reported in : [1977]108ITR181(Guj)
..... the terms of the agreement of december 1, 1961, as constituting an assignment of the debt due from the assessee-company to the refinance corporation, or assignment of the securities under the agreement of december 1, 1961, to the refinance corporation. the agreement itself merely indicates that the assessee-company had agreed, if the necessity arose, to ..... except in cases in which such contract, grant or disposition of property is by law required to be in writing, or has been registered according to the law in force for the time being as to the registration of documents. now, the agreement of december 1, 1961, was not a document which was required to be in writing ..... security for any refinance obtained by the bank from the said corporation in respect of the loan agreed to be advanced by the bank to the borrower (assessee-company) and the borrower, if and whenever required by the bank to do so at the borrower's own expenses, was required to execute and join in doing and executing all such acts .....
Tag this Judgment!Court : Gujarat
Decided on : Jul-24-1975
Reported in : AIR1976Guj161; (1976)GLR497
..... the case the supreme court held that the provisions of sections 20 and 21 of the bihar tenancy act, did not apply to the lessees since they were not 'settled raiyats' and the lessees could not claim to have secured under the statute occupancy rights in the land. the supreme court, therefore, held that the mortgagor ..... of granting protection to 'persons lawfully cultivating agricultural lands'. nor has the contention that the expression 'mortgagee in possession, includes a tenant from such a mortgagee any force. a mortgagee in possession is excluded from the class of deemed tenants on grounds of public policy; to confer that status upon a mortgagee in possession would ..... improve the fertility of the soil and on the determination of the lease that fertility would still remain in the land. it is, therefore, necessary that security of tenure should be given to the tenant of agricultural land so that by his proper husbandry and agricultural practices, he himself may derive good benefits from the .....
Tag this Judgment!Court : Gujarat
Decided on : Aug-12-1975
Reported in : AIR1976Guj72; (1976)GLR210
..... delivering the judgment of the supreme court observed in paragraph 7 at page 600 (of scc) : (para 5 at p. 1240 of air):-'the stamp act is a fiscal measure enacted to secure revenue for the state on certain classes of instruments. it is not enacted to arm a litigant with a weapon of technicality to meet the case of ..... controversy between the parties in the suit or proceeding so that the decision of the question of admissibility would by its direct and, immediate consequence, of its own force, determine such right and obligation, it would not be correct to say that the decision of the question of admissiblity is mere1y a decision of a question under ..... ) and the question as to whether a document was admissible or not admissible was a matter of procedure. the first preliminary objection under section 115 had therefore no force. with respect to the learned judge of the rajasthan high court, we are unable to accept his conclusion because the effect of the different decisions of the supreme court .....
Tag this Judgment!Court : Gujarat
Decided on : Oct-15-1975
Reported in : [1976]102ITR153(Guj); [1976]37STC339(Guj)
..... tax unless the notice of demand under section 156 therefore had been served upon the company within the period of the one year as mentioned above ....... this section secures to the revenue priority of payment over all unsecured creditors, of taxes payable in respect of all periods up to the date of the commencement of the liquidation or ..... . sub-section (6) provides that the provisions of section 178 shall have effect notwithstanding anything to the contrary contained in any other law for the time being in force. mr. kaji in this connection has drawn our attention to the commentaries at page 942 of the sixth edition of kanga and palkhivala on income-tax, where the ..... connection. it states that the directions contained in section 178 shall supervene any other law for the time being in force. the reference is to the provisions of the indian companies act, 1956. section 530(1)(a) of that act grants priority for the tax due to the government, only in so far as it has 'become due and payable .....
Tag this Judgment!Court : Gujarat
Decided on : Apr-28-1975
Reported in : [1976]46CompCas1(Guj); (1976)1GLR555
..... with regard to - (a) debts provable; (b) the valuation of annuities and future and contingent liabilities; and (c) the respective rights of secured and unsecured creditors; as are in force for the time being under the law of insolvency with respect to the estates of persons adjudged insolvent.' 8. one of the principal duties of ..... would be attracted. harmonising two provisions without doing violence to the language of the state is quiet well-known. central enactment, namely, the payment of wages act, postulated that clause (j) would apply only in respect of those co-operative societies which are approved by the state government; but the state legislature presumably ..... money shall be repaid. edwards v. glyn in terms followed the principle. further illustrative case may be noted. in in re rogers the debtor committed an act of bankruptcy and thereafter the solicitors advanced a loan to the bankrupt by way of payment to the pressing creditors. ultimately, the debtor was adjudged a bankrupt .....
Tag this Judgment!Court : Gujarat
Decided on : Mar-21-1975
Reported in : [1975]98ITR85(Guj)
..... 54 would not be applicable to assessments which had been completed before the 1st day of april, 1962, which was the date on which the income-tax act, 1961, came into force. on the other hand the indications are that the legislature has been careful to keep that protection alive and subsisting with regard to assessments completed before that date ..... case set up on behalf of the department is that the relevant records, relating to the years 1950 to 1954, were filed when section 54 of the act of 1922 was in force and as under that section there existed a privilege against the production of those documents in court, the same could not be affected even though the aforesaid section ..... respect of them, as they do not arise for decision in this case. in the instant case, we are not concerned with case of return filed when the act of 1922 was in force and in such an assessment proceeding, some documents came to be produced before the income-tax authority after the repeal of section 137 from the .....
Tag this Judgment!Court : Gujarat
Decided on : Jun-19-1975
Reported in : (1976)17GLR122
..... in order to clarify the legal position, the division bench has referred the abovementioned three questions to this court.4. it may be pointed out that the maintenance of internal security act, 1971 was enacted by parliament and came into force on july 2, 1971, (hereinafter referred to as the misa). by ordinance no. 11 of 1974 known as the maintenance of internal ..... enacted by the parliament. by section 14 of the cofeposa act, the maintenance of internal security (amendment) ordinance, 1974, was repealed and accordingly the amendments made in the misa by the said ordinance were, on the commencement of the cofeposa act to cease to have any effect. the act was brought into force on december 19, 1974 by virtue of the power conferred upon the .....
Tag this Judgment!Court : Gujarat
Decided on : Mar-25-1975
Reported in : (1976)17GLR382
..... police establishment ordinance no. 22 of 1946, which was promulgated on 25th september, 1946. thereafter the impugned act (act no. 25 of 1946) came into force on 23rd november, 1946. even this impugned act has been subsequently amended. but when it was put in the statute book, it was enacted for investigation ..... in national interest. it can be utilised with equal efficacy in cases where typical law and order problems arise at or near the common borders of two or more states, or in case of a single state in which peculiar problems of law order and espionage have arisen on ..... under section 3 various offences under the penal code, offences punishable under the prevention of corruption act, import & export, act, foreign exchange regulation, indian post office act, companies act, insurance act, indian official secrets act, essential commodities act, industries (development and regulation) act and attempts, abetments and conspiracies in relation to these offences. a copy of this notification .....
Tag this Judgment!Court : Gujarat
Decided on : Sep-10-1975
Reported in : (1976)17GLR758
..... of individuals, whether incorporated or not, constituted for the purpose of assisting, regulating or controlling the business of buying, selling or dealing in securities.36. section 3 of the regulation act deals with application for recognition of stock exchanges. sub-section (2) of it indicates that every application made under sub-section (1) ..... bye-laws which may contain the provisions providing for settlement of disputes by arbitration, these bye-laws cannot be said to be statutory bye-laws having the force of law.47. in support of his submission, mr. zaveri has invited my attention to the majority judgment of the supreme court in sukhdev singh ..... filed after the expiry of the prescribed period was not invalid. the application for revocation of the agreement having been rejected, the reference remained in force and the arbitrators could proceed with the arbitration. the parties contoued to participate in the proceedings and thereby consented to the arbitrators continued the proceedings. .....
Tag this Judgment!Court : Gujarat
Decided on : Sep-03-1975
Reported in : [1977]107ITR447(Guj)
..... various depositors had to be allowed in its entirely under section 10(2) (iii) of the indian income-tax act, 1922, and there was no warrant for disallowing a proportionate part of the interest referable to moneys borrowed for the purchase of securities whose interest was tax-free. at page 80 of : [1965]56itr77(sc) sikri j., as he then was ..... observed :'we must confess that it is with some reluctance that we have come to the conclusion that we have because, as we have already pointed out, there is considerable force in the contention of sir nusserwanji. but that is more a matter for the legislature than for us. as far as we are concerned, we must accept the decision of ..... that principle of law, the only conclusion that we can come to is that the tribunal was right in the view that it took.'the high court realised the force and strength of the argument advanced by sir nusserwanji on behalf of the revenue but felt that since the matter was covered by birla brothers ltd. v. commissioner of .....
Tag this Judgment!