Judgment Search Results Home > Cases Phrase: companies profits surtax act 1964 Court: delhi Page 11 of about 2,291 results (0.127 seconds)

The Punjab National Bank Ltd. Vs. Panchsheela Industrial Co-operative ...

Court : Delhi

Reported in : ILR1979Delhi300

..... whether the suit for recovery of the amount claimed is maintainable against the union of india and is this defendant liable to make payment to the plaintiff (5) whether the provisions of section 79 of the punjab co-operative societies act are attracted in the present suit if so, to what effect (6) if the above issue is found against the plaintiff, whether the suit is maintainable against defendant i for non-compliance with the provisions of section 79 of the ..... this time the court was called upon to interpret the word 'business' in the setting of the excess profits tax act- it is some considerable comfort to find the court saying: 'whether a particular activity amounts to any trade, commerce or manufacture or any adventure in the nature of trade, commerce or manufacture is always a ..... by article 62(xiv) that the board of directors may authorise or empower the managers or other officers or employees at the head office or any branch for the time being of the company to exercise and perform all or any of the powers conferred upon the directors. ..... the whole amount was withdrawn by the society- (6) the first installment fell due for repayment on 4th june 1964 as the factory had not gone into production, earlier. ..... current account shows that the society had withdrawn the entire amount of the loan by the end of march 1964, and only a nominal credit balance subsisted thereafter. ..... made a request to the bank to the like effect in a letter dated 2nd june 1964. ..... 1964 ..... to the bank on 31st december 1964. .....

Harish Chander Malik Vs. Vivek Kumar Gupta and Others

Court : Delhi

..... to clause (b) of sub- section (1) of section 19, where any decree or order is obtained in any suit or proceeding instituted before the commencement of the slum areas (improvement and clearance) amendment act, 1964, for the eviction of a tenant from any building or land in a slum area, no person shall execute such decree or order, except with the previous permission in writing of the competent authority. ..... since the wrongful possession of the tenant of a property is the sine qua non for claim for mesne profits, the suit for mesne profits or for that purpose damages at the market rate and not at the agreed rent would be maintainable only if the possession of that tenant is held to be wrongful or ..... premises are let out not only to individuals but also to companies, corporations and other statutory bodies having a juristic personality. ..... can hardly be conceived that the legislature would intend to deny to one class of tenants, namely, individuals the protection which will be enjoyed by the other class, namely, the corporations and companies and other bodies with juristic personality under the act. ..... the termination of the tenancy, the company or the corporation or such juristic personalities, however, will go on enjoying the protection afforded to the tenant under the act. ..... when the tenant is a company or a corporation or anybody with juristic personality, question of the death of the tenant will ..... , tenancies in respect of commercial premises are usually taken by companies and corporations. .....

Michael Heath Nathan Johnson Vs. Subhash Chandra and ors.

Court : Delhi

Reported in : 60(1995)DLT757

..... prior permission; and (b) restrain the defendants, their servants and agents by an order of permanent injunction from in any manner directly and/or indirectly through themselves and/or through their business associates and/or other group of companies in any manner disclosing, utilizing, exploiting and/or implementing the smpc system, having the characteristics identified in the annexed affidavit (annexure 'a'), and based on the plaintiff's valuable and unique confidential information; and (e) to ..... viable commercial proposition, it was necessary for the plaintiffs to decide which weeds would be susceptible to this treatment, which plants or crops would most benefit, or indeed might be harmed, which would be likely to afford a profitable market, what would be the most appropriate method of application, what depth would be suitable, and whether it should or should not be combined with some other, and if so what, herbicides. ..... learned senior counsel said that in some foreign countries one can just go and take from the shelf some companies registered under the companies act and use them 762 for one's business. ..... on behalf of the plaintiff-appellant that their literature was a 791 compilation of information discovered or selected by them in which they have acquired copyright on the principles laid down by house of lords in 1964 (1) weekly law report 273 (football coupon's case). ..... 1964 ..... 1964 a ..... to be noticed that decision of court of appeal was affirmed by the house of lords in 1964 i w.l.r. .....

South Asia Industries (P.) Ltd. Vs. Commissioner of Income-tax, Delhi ...

Court : Delhi

Reported in : (1986)51CTR(Del)267; [1985]155ITR392(Delhi)

..... with the choice of finding whether the transaction was one of investment or one in which the company had bought the shares for profit and for no other purpose, we are hard put to determine why the company entered into the transaction. 26. ..... idea that became conspicuous was the idea of preserving the hold of the group on the companies concerned and the transactions undertaken with this idea have necessarily to be taken as of a ..... 'i have looked into the balance-sheets of the companies whose shares have been purchased and sold resulting in the alleged losses and i find that no genuine dealer in shares would go near the shares of these private companies for none of them had any prospects of any ..... fact that these were transactions between inter-connected companies does not take away the character of business from ..... 537) : 'prima facie, these facts lead to an inference that the company was a dealer in shares and securities and the loss resulting in the year of account of 1952-53 form sale of securities was liable to be treated in the assessment year 1953-54 ..... continued : 'a genuine dealer in shares never acts in the manner the company has been acting. ..... in lala ram kishan gupta v.cit : [1964]52itr991(all) , a large block of shares was purchased for the purpose of acquiring a managing agency, but ..... is 100% beneficial owner of this company, and acting according to an overall scheme of tax ..... act, 1922, and the questions referred are : '(1) whether, on the facts and in the circumstances of the case, .....

Rattan Lal and ors. Vs. Income Tax Officer Etc.

Court : Delhi

Reported in : ILR1974Delhi621; [1975]98ITR681(Delhi)

..... the voluntary disclosed income or any amount of tax paid thereon to reopen any assessment or re-assessment made under the 1922 act or the 1961 act or the excess profits-tax act, 1940 or the business profits tax act, 1947 or the super profits tax act, 1963 or the companies (profits) sur-tax act, 1964 or claim any set off or relief in any appeal, reference, revision or other proceeding in relation to such assessment ..... and before april 1, 1966 a declaration in accordance with sub-secion (2) in respect of the amount representing income chargeable to tax under the 1922 act or the 1961 act, for any assessment year commencing on or before april 1, 1964 for which he has failed to furnish the return within time or which he has failed to disclose in his return or which has escaped assessment ..... finding of the income-tax officer is supported by any evidence and whether a declaration made and tax paid by a declarant under the voluntary disclosure scheme as envisaged in the finance act can be questioned to ascertain the nature and source of the sum so declared by the declarant as its owner, for the purpose of determining if it was still in the nature ..... (9) thus, where any person makes a declaration in respect of the amount representing income chargeable to tax under the 1922 act for any assessment year commencing on or before april 1, 1964, which has neither been disclosed nor detected earlier, he shall be charged income-tax in accordance with sub-section (3) in respect of the amount so declared- .....

Commissioner of Income-tax, Delhi-ii Vs. O.N. Talwar

Court : Delhi

Reported in : (1980)17CTR(Del)278; [1980]123ITR80(Delhi)

..... further, the question of apportionment among the erstwhile members in the proportion in which they were entitled to share the profits in the previous year in which the dissolution took place would also be difficult as, in a joint family, no member can predicate that he is entitled to a particular share of ..... was introduced by the finance act, 1964, simultaneously with the introduction of ..... (i) to (vii), to which the finance act, 1964, added item (viii) reading as follows : '(viii) any annuity due, or commuted value of any annuity paid, under the provision ..... provisions of the chapter shall apply to every person, being - (i) an individual, (ii) a hindu undivided family, (iii) an unregistered firm, (iv) an association of persons or a body of individuals whether incorporated or not (other than a company or a co-operative society), and (v) an artificial juridical person (other than a corporation) 13. ..... by the finance act, 1964, with effect from april 1, 1964. 12. ..... persons who were its partners or members immediately before its dissolution in such proportion as the income-tax officer may, having regard to the proportion in which they were entitled to share the profits in the previous year in which the dissolution took place, direct.' 21. ..... 2 reads : 'in the case of a firm, an association of person (other than a society registered under the societies registration act, 1860) or a body of individuals, the application should be accompanied by a declaration in respect of its constitution in form .....

Ved Pinkash Khultar and ors. Vs. Genelec Ltd.

Court : Delhi

Reported in : 49(1993)DLT491; 1993(25)DRJ92

..... to get out of the said orders of the authority under the sick industrial companies (special provisions) act,1985, counsel for the defendant has particularly relied on provisions of section 22(3) thereof. ..... (2) vide lease deed dated 25th november,1981, the defendant company took on lease the suit property comprising of ground floor, first floor, basement, loft and mezzanine floor and projector on a monthly rent of rs.29,686.00 . ..... he submits that the stage under section 16 and 17 is already over so far as the defendant company is concerned and, thereforee, operation of all contracts etc. ..... the plaintiff was aware of the fact that the defendant company had been declared a sick unit and proceedings were going on under the sick industrial companies (special provisions) act, 1985. ..... (3) the plaintiff has alleged that there have been defaults in payment of rent by the defendant for which claim has been made in the plaint on account of arrears of rent and also for mesne profits after the termination of tenancy of the defendant by the plaintiff. ..... (13) tissue no.4 : counsel for the defendant has strongly urged that the present suit is liable to be stayed in view of the provisions of sections 22(1) and (2) of the sick industrial companies (special provisions) act,1985. ..... thereafter, the plaintiff filed the present suit for recovery of possession of the tenanted property and arrears of rent and damages mesne profits for the use and occupation of the premises. ..... motilal & others in 1964 s.c. .....

The Director of Income-tax (Exemption) Vs. Alarippu

Court : Delhi

Reported in : 2000VAD(Delhi)932; 86(2000)DLT458; 2000(56)DRJ171; [2000]244ITR358(Delhi)

..... or more of the forms or modes specified in sub-section (5) of section 11 continue to remain so invested or deposited after the 30th day of november, 1983; or (iii) any shares in a company not being a government company as defined in section 617 of the companies act, 1956 (1 of 1956), or a corporation established by or under a central state or provincial act] are held by the trust or institution after the 30th day of november, 1983: provided that nothing in this clause shall apply in relation to_(i) any assets held ..... in providing long term finance for industrial development in india and which is approved by the central government for the purposes of clause (viii) of sub-section (i) of section 36; (ix) deposits with or investment in any bonds issued by a public company formed and registered in india with the main object of carrying on the business of providing long-term finance for construction or purchase of houses in india for residential purposes and which is approved by the central government for ..... deposits with the industrial development bank of india established under the industrial development bank of india act, 1964 (18 of 1964). ..... order to constitute an investment the amount laid down should be capable of and result in any income, return or profit to the investor and in every case of investment the intention and positive act on the part of the investor should be to earn such income, returns, profit. ..... means to lay out money in business with a view to obtain income or profit. .....

Addl. Commissioner of Income-tax, Delhi-i Vs. Mrs. Avtar Mohan Singh

Court : Delhi

Reported in : (1982)27CTR(Del)32; [1982]136ITR645(Delhi)

..... it read : 'section 13 of the finance act, 1964, had introduced a new subsection (2) in section 52 of the income-tax act with a view to countering evasion of tax on capital gains through the device of an understatement of the full value of the consideration received or receivable on the transfer of a capital asset.' 23. ..... these are, inter alia, distribution of capital assets on the partition of a hindu family or on the dissolution of a firm; transfer of a capital asset by a company to its subsidiary or under a scheme of amalgamation; transfer of a capital assets under a gift or a will or an irrevocable trust. ..... we should, however, like to make it clear that the ground on which we hold that it is exempt from assessment under section 45 of the act is not that it has already been assessed to gift-tax and this would result in doubt taxation. ..... sub-section (2) was inserted by the finance act of 1964, with effect from april 1, 1964. ..... the first part of the definition approximates to the definition of 'gift' in the transfer of property act whereas the second part creates as fiction which is made, more explicit in s. ..... during the previous year which ended on march 31, 1964, the relevant assessment year being 1964-65, she transferred a 6/7the share of this property to here three sons for a consideration of rs. ..... section 45 provides that any profits or gains arising from the transfer of a capital asset shall be chargeable to income-tax under the head 'capital gains' except as otherwise provided. .....

Punny Ram and ors. Vs. Chiranji Lal Gupta and ors.

Court : Delhi

Reported in : AIR1982Delhi431; 22(1982)DLT29b; 1982(3)DRJ342; 1982RLR576

..... for the time being in force, no person shall, except with the previous permission in writing of the competent authority :- a) institute, after the commencement of the slum areal (improvement and clearance) amendment act, 1964, any suit or proceeding for obtaining any decree or order for the eviction of a tenant from any building or land in a slum area: or b) where any decree or order is obtained in ..... chapter vi which sets out the protection afforded to tenants in slum areas from eviction, observed as under :- '......obviously, if the protection that is afforded is read in the context of the rest of the act, it is clear that it is to enable the poor who have no other place to go to, and who if they were compelled to go out out would necessarily create other slums in the process ..... made that the declared purpose of protecting the tenants from eviction was inconsistent with the policy underlying the declaration of an area as a 'slum area' and that thus the act manifested two contrary or conflicting ideas or principle which would negative each other and thus leave no fixed policy to guide 'the competent authority' when exercising the powers to grant or ..... are able to make other provisions for affording the slum dweller tenants better living conditions the act, no doubt, looks at the problem not from the point of view of the landlord, his needs, the money he has sunk in the house and the possible profit that he might make if the house were either let to other tenants 351 or ..... .....