Court : Punjab and Haryana
Decided on : Feb-19-1973
Reported in : [1974]97ITR425(P& H)
..... 9. no doubt the transaction, as it originally stood, on the face of it, was not for adequate consideration. however, by the operation of sub-section (1) of section 52 of the income-tax act, the consideration for the transfer has been 'taken to be the fair market value of the capital asset' so transferred. that being the case, the ..... of the transfer and also that the intention of the assessee in making such transfers was 'avoidance or reduction of the liability'. 5. sub-section (1) of section 52 of the income-tax act is in the following terms: ' where the person who acquires a capital asset from an assessee is directly or indirectly connected with the assessee ..... for full consideration, the idea of any gift being involved in the transaction does not arise. 11. 'gift' is denned in clause (xii) of section 2 of the gift-tax act as under: ''gift' means the transfer by one person to another of any existing movable or immovable property made voluntarily and without consideration in money or .....
Tag this Judgment!Court : Punjab and Haryana
Decided on : Mar-28-1973
Reported in : AIR1974P& H39
..... the limitations of which are provided in the schedule or it applies to other cases also of which the limitation is not provided in the schedule. sub-section (2) of section 29 of the limitation act provides that where any special or local law prescribes for any suit, appeal or application, a period of limitation different from the period prescribed by the ..... (4) xx xx xx xx (5) xx xx xx xx explanation. xx xx xx' 5. the learned counsel for the respondent has submitted that sub-section (1) of section 6 of the limitation act applies to suits and not to claim applications and that the periods of limitation are extended only in such cases which are provided in the schedule to ..... extent to which, they are not expressly excluded by such special or local law. (3) xx xx xx xx (4) xx xx xx xx' sub-section (1) of section 6 of the limitation act permits the minors to institute the suite after the disability has ceased within the period of limitation that is prescribed in the third column of the schedule .....
Tag this Judgment!Court : Punjab and Haryana
Decided on : Jan-04-1973
Reported in : [1974]97ITR302(P& H)
..... partner, as one partner ceasing to be a partner on account of his death and another partner entering into partnership, this answers the description of sub-section (2) of section 187 of the act and it has been rightly held by the authorities below that this constituted a change in the constitution of the firm.7. the contention that the ..... the change ; or (b) where all the partners continue with a change in their respective shares or in the shares of some of them.' 6. lastly, section 189 of the act deals with the dissolved firms. the purpose of enacting these provisions by the legislature is to provide for all exigencies so that the assessees, who are liable to ..... case as, according to the learned counsel, the firm of which ram rattan, deceased, was a partner stood dissolved in view of the provisions of section 42(c) of the indian partnership act, as there was no provision in the partnership deed providing that, in the event of death of any partner, the partnership would continue. it is .....
Tag this Judgment!Court : Punjab and Haryana
Decided on : Feb-21-1973
Reported in : AIR1973P& H450
..... unable to agree with this contention of the learned counsel for the simple reason that in the punjab general clauses act, 1898, section 22(36) of the said act provides that in that act and in all punjab acts, unless there is anything repugnant in the subject or context 'notification' shall mean a notification published under proper authority ..... notification in the official gazette, is liable to be set aside because according to the learned counsel it is not necessary that a notification under section 238 of the act should be published in the official gazette. the learned counsel contends that there is no grievance made out by the writ petitioners in the ..... the appellants, in support of the letters patent appeal, vehemently argued that the finding of the learned single judge, that the notification issued under section 238 of the act was incompetent as the said notification did not give reasons for the supersession of the committee because the schedule mentioned in the body of the notification .....
Tag this Judgment!Court : Punjab and Haryana
Decided on : Jun-01-1973
Reported in : AIR1974P& H140
..... date of publication of the draft scheme in a newspaper in the regional language. it would further be seen that under the provisions of sub-section (3) of section 68-d of the act, the final scheme has only to be published in the official gazette and there is no requirement that the same should be published in the ..... which two schemes are prepared separately by the two state transport undertakings, is also permissible, provided the said schemes are framed to achieve the object mentioned in section 68-c of the act.27. the contention that the classification of the operators of the erstwhile pepsu area and that of the erstwhile punjab state, in the two schemes, have ..... ones, so that the existing routes could not be monopolized by the pepsu road transport corporation. after going through the notification in which the draft scheme under section 68-c of the act was published by the state government, it is to be found that this argument is based on misconception of the facts. clause (5) in the .....
Tag this Judgment!Court : Punjab and Haryana
Decided on : Oct-29-1973
Reported in : AIR1975P& H29
..... and after making such enquiry as he deems fit issue a certificate for the recovery of the amount stood therein to be due as arrears. there was another section in that act which provided for a reference of any dispute to the registrar. it was observed by the learned bench as follows:--'it was not disputed that the legislature can ..... property, effects and claims. he is also authorized to carry on business of the society so far as may be necessary. clause (b) of sub-section (2) of section 59 of the act empowers the liquidator to determine from time to time the contribution (including debts due and costs of liquidation) to be made or remaining to be made by ..... society was under winding up, the loan due from any person could be recovered by the liquidator, by an order passed under clause (b) of sub-section (2) of section 59 of the act. respondent no. 3 overruled the objections of the petitioners. respondent no. 3 has no jurisdiction and power to issue any notices to the petitioners in respect .....
Tag this Judgment!Court : Punjab and Haryana
Decided on : Mar-29-1973
Reported in : AIR1974P& H36
..... of his legal representatives, who had been impleaded as defendants. the plaintiff did not file any objections against the award. the defendants, however, filed objections under section 30 of the act. the trial court framed the following issues:--'(1) has the arbitrator been guilty of judicial misconduct? (2) is the award otherwise liable to be set aside ..... to the conclusion that the plaintiff-respondent was a money-lender. as an arbitrator he should have decided that question which was an important one. under section 30 of the act an award is liable to be set aside in case an arbitrator or umpire has misconducted himself or the proceedings. the word 'misconduct' has not been ..... also submits that the arbitrator was fully justified in deciding the matter in favour of the respondent and the civil court cannot interfere with the award under section 30 of the act on this ground. there is no force in the contention of the learned counsel for the appellants. it is for the arbitrator to decide as to .....
Tag this Judgment!Court : Punjab and Haryana
Decided on : Nov-19-1973
Reported in : [1975]98ITR42(P& H)
..... only after the death of the deceased. it existed at no point of time either contingently or otherwise during the lifetime of the deceased. section 5 of the act is the charging section, section 2(15) defines 'property' and section 2(16) defines 'property passing on the death '. these provisions ate in the following terms :'5. (1) in the case of ..... and ' on the death' includes 'at a period ascertainable only by reference to the death' '8. thus, keeping in view the provisions of section 5, section 2(15) and section 2(16) of the act, what can be charged to estate duty is that property which passed on the death of the deceased. therefore, the short question is, whether the ..... will, therefore, serve no useful purpose to travel that ground all over again.15. this brings us to the second contention of mr, awasthy, based on section 15 of the act, which is in the following terms :'an annuity or other interest, purchased or provided by the deceased, either by himself alone or in concert or by arrangement .....
Tag this Judgment!Court : Punjab and Haryana
Decided on : Feb-02-1973
Reported in : AIR1974P& H201
..... the collector directed that sum of rs. 5,394.04 be paid as compensation to the respondents for their land acquired by the government. objections under section 18 of the act were entered on behalf of the respondents before the district judge claiming enhanced compensation. second additional district judge, to whom the objections were entrusted for disposal ..... . facts leading to the appeal and the plea of its abatement raised on behalf on the respondents are as under:--2. notification under section 4 of the land acquisition act, hereinafter called 'the act' was issued on february 17, 1961 to acquire 649 bighas 19 biswas belonging to the respondents. this notification was followed by a notification ..... under section 6 of the act. it was issued on may 24, 1961. the collector gave a joint award on december 28, 1961 in favour of the four brothers. according .....
Tag this Judgment!Court : Punjab and Haryana
Decided on : Feb-27-1973
Reported in : AIR1974P& H116
..... singh, having been filed by him in the proceeding before the registrar of trade marks, falls within clause (b) of sub-section (1) of section 125 of the act and according to sub-section (1) of section 115 of the act, a certified copy of the said affidavit can be admitted in evidence without any further proof. so, in view of the ..... additional sessions judge, find that the complaint was instituted within time and that the prosecution of the accused is not barred by section 92 of the act. 5. the relevant portion of sub-section (4) of section 77 of the act, which defines the offence, reads thus- 'in any prosecution for........... falsely applying a trade mark to goods, the burden of ..... as to mean the first offence. infringement of trade mark may be committed several times and on several dates. the time of three years, prescribed by section 92 of the act, would run from the date of infringement of the trade mark constituting the offence for which the complaint is made and not from the date of first .....
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