Court : Income Tax Appellate Tribunal ITAT Delhi
Reported in : (1989)29ITD264(Delhi)
..... 2,44,479 which represented compulsory deposit under the c.b.s. ..... the total of the two was claimed to be not taxable under the wealth-tax act though it was not even asserted that the assessee's claim under the income-tax act had been that it was liable to be taxed only on the salary as per guidelines of the central govt. ..... scheme was beyond the scope of wealth-tax assessment. ..... dated 30th of november, 1987 passed by the commissioner of wealth-tax (appeals)-ii, new delhi, in respect of assessment year 1982-83, the related assessment having been framed on 2nd of december, 1985 under section 16(3) of the wealth-tax act, 1957. .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : (2006)198CTR(MP)336
..... gold bonds, 1980) issued by the central government)(v) special bearer bonds, 1991, issued by the central government;)(vi) gold deposit bonds issued under the gold deposit scheme, 1999 notified by the central government)section 2(47) ('transfer', in relation to a capital asset), includes,(i) the sale, exchange or relinquishment of the asset; or(ii) the extinguishment of any rights therein; or(iii) the compulsory acquisition thereof under any law; or(iv) in a case where the asset is converted by the owner thereof into, or is treated ..... the learned judge after examining the question in the context of the definition contained in section 2(14) and section 2(47) of the income tax act coupled with the provisions of transfer of property act contained in section 6 and section 54 ibid and the cases relied upon held as under:'having regard to the statutory provisions and the authorities which we have cited above, we cannot, with respect, agree that the ..... right which can be called property will be included in the definition of 'capital asset' and that a contract for the sale of land is capable of specific performance and is also assignable, and he referred to section 15 of the specific relief act, 1963. .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1970Cal433
..... in the circumstances, even if it be found that she was not entitled to a compulsory citation, she was a person who was claiming some interest in the properties as the widow of sarat, and there was a possibility of her interest in the properties left by sarat, and in the circumstances, without going into ..... even in a case where the person is not entitled to get a compulsory citation, but the citation is discretionary, the absence of citation to such a person, also would invalidate the grant in certain circumstances. ..... as a matter of fact, the learned district judge should have taken action under section 298 of the indian succession act, and for the above reasons, refused to grant any letters of administration.4. ..... if the respondent had already acted under the letters of administration issued to him by the learned district judge, he must submit his proper account and get full and complete discharge from the court of the learned district judge and he will .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : (2005)198CTR(MP)336; [2008]296ITR363(MP)
..... gold bonds, 1980, issued by the central government;(v) special bearer bonds, 1991, issued by the central government;(vi) gold deposit bonds issued under the gold deposit scheme, 1999 notified by the central government;section 2(47)--'transfer', in relation to a capital asset, includes,--(i) the sale, exchange or relinquishment of the asset; or(ii) the extinguishment of any rights therein; or(iii) the compulsory acquisition thereof under any law; or(iv) in a case where the asset is converted by the owner thereof into, or is treated ..... the learned judge after examining the question in the context of the definition contained in section 2(14) and section 2(47) of the it act coupled with the provisions of transfer of property act contained in section 6 and section 54 ibid and the cases relied upon held as under:'having regard to the statutory provisions and the authorities which we have cited above, we cannot, with respect, agree that the ..... right which can be called property will be included in the definition of 'capital asset' and that a contract for the sale of land is capable of specific performance and is also assignable, and he referred to section 15 of the specific relief act, 1963. .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (1996)114PLR338
..... is that money thus paid over can no longer be described as compulsory deposit'. ..... also not disputed that before that they wanted to know his saving bank account in their bank, but before he could reply to that query, the bank officials on their own deposited the said amount in his saving bank account on march 29, 1995. ..... as joseph benjamin bonjour's case (supra) is concerned, a full bench of madras high court has held that the 'immunity undersection 3(1) of the provident funds act does not attach to moneys paid over to a subscriber or depositor from his provident fund. ..... the orders of this court the bank was compelled to pay him subsistance allowance, the respondents surreptitiously deposited this amount in his saving bank account. ..... under the orders of this court the respondents surreptitiously deposited suspension allowance of the aforesaid period amounting to ..... he further submitted that once subsistance allowance is deposited in the saving bank account of the petitioner, it becomes an amount in his hand and is liable to attachment in execution of the ..... saving bank account without informing him and without seeking his instructions for depositing the said amount in his account. ..... not sought that the said amount is going to be deposited in his saving bank account. ..... is no other amount deposited in his saving bank ..... would have paid subsistance allowance to the petitioner every month as per the aforementioned rules, there would have been no such huge amount accumulated to be deposited like this.14. .....
Tag this Judgment!Court : Kerala
Reported in : AIR1960Ker1
..... ) before the trip to banares, made investments, to the extent of a few thousand rupees under a pro-note and chitty scheme in the joint names of defendants 2 to 4 minors, and under separate promissory note and hypothecation bond in the sole name of the 2nd defendant and with the 1st defendant to represent the minors in ..... accounts in the sree radha-krishna bank shows that during 1122 and 1123, venkiteswara iyer made deposits of large sums in the names of his grand-sons nnd grand-daughters though jointly with himself ..... i after ils withdrawal from the registration office cannot he said to preserve its original character as as a deposited will and such later preservation as there was, had no significance in the context of venkileswara iyer's propensities.indeed most of the evidence in this case had been supplied by ..... there is no law in cochin relating to wills and providing for the revocation of a deposited will as here by the very withdrawal of the seal-ed cover containing it from the registration ..... is signed by him.the will does not contain any attestors but this by itself may not be of any importance in the absence of any law in cochin corresponding to section 63(c) of the indian succession act providing for the compulsory attestation of unprivileged wills p. w. ..... was the head clerk of the registry office at vadakkancherry in 1114 gave evidence to the effect that venkiteswara iyer had consulted him in the matter of the execution and deposit of the will and that himself and vakil mr. m. v. .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1954Cal447
..... 9,05,558-11-0, which together with the compulsory deposit of rs. ..... district must proceed to recover the amount as if it were arrears of land revenue accruing in his own district.the word 'collector' has not been defined either in the income-tax act or the 'excess profits tax act, so that the definition in the general clauses act (section 2(11)) is applicable and means in a presidency town the collector of madras or bombay and elsewhere the chief officer-in-charge of the revenue administration of a district.thus, there is no difficulty in recovering a claim ..... put succinctly, therefore, the precise question that arises for solution in this case, is as follows: are certificate proceedings under the bengal public demands recovery act 3 of 1913, read with s46(2), income-tax act (the provisions whereof are incorporated in the excess profits tax act 15 of 1940), void as offending against article 14 of the constitution (read with article 13(1))now, before i deal with this question, it would be well to visualise, what exactly is being done or sought ..... if to-day, an uniform method of realisation of land revenue is accepted throughout the indian union, no point could possibly be raised about discrimination.thus again, if it was a case of realising the dues of a state under a state act, there could be no question raised as to discrimination, since all the citizens of that state are being equally treated. ..... i am unable to accept this argument.the scheme of section 14a, e. p. t. .....
Tag this Judgment!Court : Kolkata
Reported in : (1995)2CALLT393(HC)
..... as pointed out by palmer in his celebrated work on company law, the joint stock companies arrangement act of 1870 was only to operate as part of the winding up machinery of the court, and the assistance of the court could not be invoked except in a winding up, whether compulsory, voluntary or under supervision which was a serious defect, because the very object of the arrangement or compromise was in many cases to avoid a winding up ..... with respect to the learned judge, it was sufficient for him to take the view that, in the case of a company which was not in a sound financial condition, a scheme is an alternative made of winding-up and the word 'creditor' in section 391 should, therefore, have the same wide meaning as in liquidation proceedings. ..... though various grounds have been mentioned in the affidavit-in-opposition to suggest that the scheme is unfair or is unreasonable, however, such allegations are mostly devoid of material particular and no reliance can be placed thereon ..... appearing on, behalf of the objectors, was that the role of the court is not only inquisitorial but also pragmatic which requires forming of an independent and informal judgment as regards the feasibility of proper working of the scheme and making suitable modification in the scheme and issuing appropriate direction with that and in view. ..... the case reported in 1961(1) chancery division 289 it was held as follows :'a scheme must be obviously unfair, patently unfair, unfair to the meanest intelligence. .....
Tag this Judgment!Court : Kolkata
Reported in : [1954]26ITR498(Cal)
..... together with the compulsory deposit of rs. ..... put succinctly, therefore, the precise question that arises for solution in this case is as follows :- are certificate proceedings under the bengal public demands recovery act (iii of 1913), read with section 46(2) of the income-tax act (the provisions whereof are incorporated in the excess profits tax act xv of 1940), void as offending against article 14 of the constitution [read with article 13 (1) now, before i deal with this question, it would be well to visualise ..... the word 'collector' has not been defined either in the income-tax act or the excess profits tax act, so that the definition in the general clauses act [section 2 (11)] is applicable and means in a presidency town the collector of madras or bombay and elsewhere the chief officer-in-charge of the revenue ..... - this application concerns the assessment of excess profits tax under the excess profits tax act, 1940 (act xv of 1940), of the firm of sriram jhabarmull for the chargeable accounting period, 26th march, 1942, to ..... this constitute such discrimination as brings the impugned legislation under the mischief of article 14 of the constitution [read with article 13(1)].the first thing to observe is that section 46(2) of the income-tax act does not by itself lay down any provision of law which is discriminatory. ..... the scheme of section 14a of the excess profits tax act is that it enables a provisional assessment to be made and steps taken for its realisation, without waiting for .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : AIR1959AP448
..... 'we feel that the dictum laid down in these cases would not apply to wills in our country as there is a specific provision in the indian succession act enacted in section 349 to cover such cases and it is in these words :'the legatee of a specific legacy is entitled to the clear produce thereof, if any from the testator's death. ..... on the other hand, the observations in some of the cases are detrimental to this respondent.the 5th defendant was acting mala fide as indicated above and moreover the application for amendment of the written statement as also for the deletion of some and recasting of the issues was very late i.e. ..... to a period subsequent to the exercise of the power by the executors or from the date of the plaint when the court would be deemed to have executed that power as such right flows only from either of the two acts.the profits accruing before that date would fall into the residue, continued sri somasundaram. ..... it is provided that at my death all my estate shall vest in the three individuals mentioned herein who shall act according to the provisions mentioned in the wilt .......it is provided that from chaitra sudha panchame of year swablianu separate accounts shall be maintained and in the timber shop at masulipatam 1/4th share wilt be allotted to dintakurti satyanarayanamurthy and he ..... , were in their nature compulsory and words of devise and when the testator empowered his wife to give to a certain object a certain sum there was a legacy.this was negatived by l.c.b. .....
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