Judgment Search Results Home > Cases Phrase: companies profits surtax act 1964 Court: delhi Page 93 of about 2,291 results (0.072 seconds)

Deputy Commissioner of Income Tax Vs. M/S Cosmic Softech Ltd.

Court : Income Tax Appellate Tribunal ITAT Delhi

..... replying to the above submissions, the counsel for the assessee submitted that the assessing officer noted that the assessee company has paid stpi charges during the year under consideration and the same has been claimed as business expenses in the profit and loss account. ..... . the assessing officer analysed the transaction in the light of the provisions of section 2(22)(e) of the act and came to the conclusion that the real thrust is on the controlling shareholders which does not necessarily mean direct or registered ..... . we therefore observe that the assessing officer has invoked provisions of section 2(22)(e) of the act but for that he has to clarify as to how the deemed dividend is worked out at rs.67,88, ..... . although the assessing officer has invoked the specific provisions of section 2(22)(e) of the act, however it is not established as to how the transactions in the present case got covered under these provisions, nor has it been clarified as to how the deemed dividend is worked out at ..... after considering the explanation and submission of the assessee, the assessing officer held that a sum of rs.67,88,000 deserves to be treated as deemed dividend u/s 2(22)(e) of the act and added the same to the total income of the assessee. 16 ..... also it becomes a case of convenience whereby the shareholding pattern of various concerns is managed in such a manner so as to circumvent the provisions of section 2(22)(e) of the act so as to avoid deemed dividend in the hands of concerns taking loan .....

R.P. Chhabra Vs. Punjab National Bank

Court : Delhi

Reported in : (2004)IIILLJ560Del; 2005(2)SLJ129(Delhi)

..... . defense of the petitioner as noted in para 5 (iv) above was that he was aware that the accounts of the group were irregular, but he acted in bank's interest in sanctioning the overdraft as parties need was urgent and he intended to adjust the profits of the new company which would be credited to the said account, to be utilised for adjusting the irregular accounts of the group firm ..... were sanctioned by board.ii) allowed unauthorised/irregular advances to certain borrowers over and above the limits sanctioned/drawing powers/value of security available in the account.iii) sanctioned facilities in certain accounts when the group companies accounts were already substantially irregular and doubtful of recovery.iv) failed to obtain proper documents from the borrowers.v) failed to obtain proper securities in certain loan accounts.vi) failed to obtain proper valuation reports on the properties ..... urgent, he accorded sanction.b) petitioner stated that since the accounts of the group companies of pujara group were irregular, his intention in sanctioning the advance was to adjust the profits of the new company which would be credited to the said account to be utilised for adjusting the irregular accounts of the group firms.c) petitioner stated that drawings in excess of the overdraft sanctioned by him were an act of the branch manager and he had no role.d) petitioner admitted that he accorded ..... pnb, considering law on the subject of principles of natural justice and noting 1964 ac 40 ridge v. .....

Vinay Construction Co. and ors. Vs. Municipal Corporation of Delhi and ...

Court : Delhi

Reported in : 116(2005)DLT14

..... the answer to the aforesaid by learned counsel for the respondent was that the provisions of the delhi municipal corporation act, 1957 makes the commissioner the competent authority holding all executive powers and thus the tact that the decision has been admittedly approved by the commissioner negates any infirmity ..... of kendu leaves in the state of orissa was regulated by the orissa kendu leaves (control of trade) act, 1961 and this act created a monopoly in favor of the state so far as purchase of kendu leaves from growers and pluckers ..... 1scr818 , the supreme court held that the state or its instrumentality engaged in commercial transactions must be reasonable, fair and act in a just manner and it should inform and take into confidence the affected party when adverse action is contemplated. ..... government for not giving any explanationn as to why an offer for a large amount was not accepted, the clearest implication being that the government must act in the public interest; it cannot act arbitrarily and without reason and if it does so, its action would be liable to be invalidated. ..... aar gee construction construction mittal company are sistercompany concerns and discreetinquiry also ..... the very object of making high profits was absent as is available from ..... baldwin, (1964) ac 40 and (1963) 2 all er 66, it was generally thought that the rules of natural justice apply only to judicial or quasi-judicial proceedings; and for that purpose, whenever a breach of the rule of natural justice .....

Ptc India Limited Vs. Jaiprakash Power Ventures Ltd.

Court : Delhi

..... ;(e) to issue licences to persons to function as transmission licensee and electricity trader with respect to their inter-state operations; (f) to adjudicate upon disputes involving generating companies or transmission licensee in regard to matters connected with clauses (a) to (d) above and to refer any dispute for arbitration; (g) to levy fees for the purposes of this act; (h) to specify grid code having regard to grid standards; (i) to specify and enforce the standards with respect to quality, continuity and reliability of service by licensees ..... referring to section 62 (6) which provides for refund of excess amount in the event of determination of tariff under section 62, he submitted that if section 79 or 86 contained independent powers of determining the tariff applicable to supply by generating companies to an entity different from a distribution licencee, either section 62 (6) would not have been confined to determination of tariff under section 62, or a separate provision would have been made for refund of the excess amount even in the case of ..... joint commercial tax officer air 1964 mad 477, which was approved in commissioner of sales tax, madhya pradesh, indore v. ..... sections 79 (1) (a) and (b) enable the cerc to fix or approve the tariff for the sale of electricity by the generating company in any of the above situations by taking into account the capital expenditure incurred for setting up the generating plant and a fixed margin of profit. .....

Sunil Dev and Others Vs. Delhi and District Cricket Association and Ot ...

Court : Delhi

Reported in : [1994]80CompCas174(Delhi)

..... accounts for the financial year under consideration are not being placed before the annual general meeting which is vocative of the provisions of section 166 of the act, which enjoins upon every company that the annual accounts and balance-sheet along with profit and loss account be laid at every annual general meeting as per the requirement of section 210, so much so that contravention of the provisions makes the ..... to be with all respect, having much relevance qua the present case for the reason that those observations were made on the facts of that case when the company happened to be a profit making company and it was then held that it existed not only for the benefit of the shareholders but also the workers, consumers and other members of the community. 42. ..... chamber of commerce : air1969mad42 , where it was observed as under (at page 47) : 'in the case of clubs and societies registered under the societies registration act, the general principles governing the right of suit of an individual shareholder or a member of the company would apply and ordinarily the court will not interfere with the internal management of the society at the instance of one or some only of the members of ..... 1964)0glr804 , to the effect that the provisions of section 173 of the act were mandatory, does not help in the present case because under the provisions of section 170 of the act, section 173 along with a bunch of other sections does not apply to a company, as contemplated by section 25 of the act .....

ivory Traders and Manufacturers Association Vs. Union of India

Court : Delhi

Reported in : 1997IIIAD(Delhi)333; 2(1997)CLT273; 67(1997)DLT145; 1997(42)DRJ131

..... of 10 years or more without interest, the supreme court, upholding the constitutionality of the legislation, held as follows : 'therefore,when we look at the provision in sub-section (2) of section 14 of the act in the light of the observations of this court, made in fatechchand and other decisions adverted to by us, we find that the legislature of gujarat which had a human problem of saving the poverty-stricken debtors from ..... citizen has a fundamental right to trade in ivory or ivory articles, whether indigenous or imported; (2)assuming trade in ivory to be a fundamental right granted under article 19(1)(g), the prohibition imposed thereon by he impugned act is in public interest and in consonance with the moral claims embodied in article 48a of the constitution; and (3)the ban on trade in imported ivory and articles made there from is not vocative of article 14 of ..... of the citizens affected thereby and the larger public interest sought to be ensured in the light of the object sought to be achieved, the necessity to restrict the citizen's freedom, the inherent pernicious nature of the act prohibited or its capacity or tendency to be harmful to the general public, the possibility of achieving the object by imposing a less drastic restraint, and in the absence of exceptional situations such as the prevalence of a ..... 1964/93 the grievance of the petitioners is that though they are not covered by the wild life (protection) act, 1972 and the amendment act ..... company ..... profitable .....

Delhi Administration Vs. Ram Nath Aggarwal

Court : Delhi

Reported in : 1969CriLJ1279; 6(1970)DLT212

..... ram nath aggarwal that on inquiries made at delhi it had transpired that in several communications addressed to the registrar of companies the signatures of parekh had been forged and even though he had nto paid anything towards. ..... pointing out contravention of the provisions of section 210 of the companies act, 1956 and inquired as to why action be nto initiated against the directors of the company. ..... charge was also under section 471 and specifically mentioned three documents which, on or about july 19, 1954, were alleged to have been fraudulently used as genuine, before the registrar of joint stock companies, delhi, knowing or having reason to believe the same to be forged. ..... october 19, 1959, the assistant registrar of companies wrote to the cycle components (india) limited, delhi, inviting attention to an earlier letter of 30-9-1959 and asked for return of the annual return which had been sent to that company along with a letter dated 18-2-1957. ..... sign the printed form for subscribers and nto a blank sheet as was alleged by them and it may, thereforee, be reasonable to presume that ramnath aggarwal was given power to complete documents for incorporation of a company which was intended to be floated. ..... (1) by his judgment, dated january 17, 1964, shri amba prakash, magistrate first class, delhi, acquitted ram nath aggarwal and two others who had been tried by him on various ..... the trial continued up to 17-1-1964, on which date aggarwal and other two accused, who were tried with him, .....

Hindustan Petroleum Corporation Ltd. Vs. Wearwell Cycles Co. (India) L ...

Court : Delhi

Reported in : AIR1977Delhi150

..... 1974 provides that such a suit would not abate and that it shall be continued either by the central government in which the indian undertaking of the company vests or by the successor in which the said undertaking would later vest.4. ..... it vested in the hindustan petroleum corporation limited which is a company registered under the indian companies act, 1956. ..... that the former name of the plaintiff company was changed in 1970 to esso eastern inc ..... of the above order was as follows:- on 22nd february, 1964, the case had been fixed for the evidence of the plaintiff ..... we, thereforee, set aside the order dated 6th june, 1964 dismissing the suit and hold that in the circumstances of the case an opportunity should have been given to the plaintiff to pay the ..... of the plaintiff was dismissed on 6th june, 1964 by the following order:'present:- counsel for the parties ..... argued by the respondent that the original plaintiff company, esso eastern inc. ..... the previous order dated 7th april 1964 is in the handwriting of the reader of ..... was acquired by the central government by the esso(acquisition of undertakings in india) act no 4 of 1974.at first, the undertaking vested in the central government. ..... on 6th june, 1964 the counsel for the appellant submitted that the costs imposed were not conditional and were ..... allowed the previous costs also to be paid on the following date and adjourned the case for the evidence of the plaintiff for 6th june, 1964. ..... date for the evidence of the plaintiff was 7th april 1964. .....

Assistant Collector of Customs Vs. Harbans Lal Sharaf Alias Punjabi Se ...

Court : Delhi

Reported in : 1985(5)ECC82

..... exchange with such knowledge and intention as spoken in section 167(81), considerations which have bearing are: is the involvement a solitary act or a chain of acts or transactions how and in what circumstances and at whose instance or with whose connivance the act or transaction was initiated who provided the consideration what was the nature and extent of the participation of the person proceeded against ..... acquittal is passed in any case in which the offence has been investigated by the delhi special police establishment constituted under the delhi special police establishment act, 1946 or by any other agency empowered to make investigation into an offence under any central act other than this code, the central government may also direct the public prosecutor to present an appeal, subject to the provisions of sub-section ..... to evade the prohibition and restrictions for the time being in force issued under section 8(1) of the foreign exchange regulation act, 1947 and deemed to have been issued under section 19 of the act by virtue of section 23a of the foreign exchange regulation act, 1947 in relation to gold and that the accused persons acquired possession of the said gold and were concerned in concealing ..... prosecutor who was competent to file the appeal inasmuch as the complaint was filed pursuant to investigation by the customs authorities under the act and, thereforee, the provision that was relevant was section 378(2) and not section 378(4) of the criminal procedure code, 1973. .....

Peter Samual Wallace Vs. Inspector General of Police, New Delhi and Ot ...

Court : Delhi

Reported in : 1981CriLJ1195; 20(1981)DLT333

..... state of madhya pradesh, air 1975 sc state of madhya pradesh : 1975crilj1111 has held similar police regulations framed by the government of madhya pradesh under section 46(2)(c) of the police act, permitting surveillance, opening of history sheets and other actions by the police intended to prevent the commission of offences, to have the force of law. 11. ..... to state it differently, what fundamental right of the petitioner has been infringed by the acts of the police if he has any fundamental right which has been infringed by such acts, he would be entitled to a relief straightway, for the state could not justify it on the basis of any law made by the appropriate legislature or the rules made there under'. 27 ..... to keep him under surveillance, a history/sheet was opened on 1st september, 1964, by the station house officer, karol bagh police station and the petitioner's name thereafter was entered into register no ..... a bare reading of that section shows that on coming into force of the delhi police act the rules including chapter 23 thereof (prevention of offences) have not ceased to be in force in ..... or receivers of stolen property whether they have been convicted or not; (c) persons under security under section 109 or 119, code of criminal procedure; (d) convicts released before the expiration of their sentences under the prisons act and remission rules without the imposition of any conditions'. 14. ..... according to him, he is also the regional manager in india of two american companies. .....