Court : Kerala
Reported in : 2005CriLJ1882
..... activities even now are well founded.18. above all, we also find that the issue had been considered by a statutory board under section 8 of the cofeposa act and the government had acted on its recommendation. although these proceedings are in recognition of a constitutional right of a citizen, that he had opportunity to place ..... , in implementation of the said order, only in july, 2004. it is stated that an application for revocation of the order, as envisaged by section 8 of the cofeposa act, had been presented before the advisory board. after hearing the parties, the board had authorised detention and the petitioner has been informed by ext. p8 ..... 3. counter-affidavits have been filed by the additional chief secretary and principal secretary (home and vigilance), government of kerala as well as the deputy secretary, ministry of finance, department of revenue, new delhi, on behalf of the second respondent -- union of india. they have stoutly opposed the claims, as have been raised.4. .....
Tag this Judgment!Court : Kerala
Reported in : AIR1995Ker373
..... 1995 : the petitioner who joined the 1st respondent cochin stock exchange limited as a trainee in the administrative department, was working as general manager (finance, auditing and listing). disciplinary proceedings were initialed against the petitioner on the ground of dereliction, collusion and negligence in the discharge of duties and ..... theapproval of the central government. thebye-laws and the rules of the company shallbe subject to the provisions of the securitiescontracts (regulation) act, 1956. similarlythe act provides for regulatory measures likerecognition, withdrawal of recognition, direction to make rules, power to suspend businessand power to supersede the governing body. ..... . coming to the control under the act, it is argued that there is a deep and pervasive control over the activities of the stock exchanges. section 4 dealing with recognition, section 5 dealing with withdrawal of recognition, section 7 dealing with annual reports and section 7 a dealing with power of stock .....
Tag this Judgment!Court : Kerala
Reported in : [1994]80CompCas247(Ker)
..... sought to be met on behalf of the defendants by contending that the first defendant is only doing 'spot delivery contracts' and that by virtue of section 18 of the securities contracts (regulation) act, section 13 of the act has been made inapplicable to 'spot delivery contracts'. in further support of this submission the circular, exhibit b-3 issued by the securities and exchange ..... carry on the business of buying, selling, dealing, investing, subscribing, jobbing, financing, underwriting, brokeraging, market making of securities and managing the funds of any persons or company in various avenues like growth fund venture capital fund and to pass benefits of such portfolio investments to its participants and to act as a clearing house for settlement of transactions and to hold the .....
Tag this Judgment!Court : Kerala
Reported in : AIR2006Ker42; II(2006)BC386; [2007]138CompCas745(Ker); 2006(1)KLT161; [2006]66SCL14(Ker)
..... comply with the demand. consequently the bank took possession of the property mentioned in the notice in exercise of the powers conferred on the bank under section 13(4) of the act read with rule 9 of the rules, on 22.2.2004. later district collector also passed an order on 24.4.2005 with the certificate ..... the validity of the act, apex court held as follows:as discussed earlier as well, it may be observed that though the transaction may have the character of a private contract yet the question of great importance behind such transaction as a whole having far reaching effect on individual transactions, more particularly when financing is through banks and ..... the individual interest shall be subservient to it.apex court also noticed that the party affected by the proceedings effected under the securitisation act has also got remedy under section 17 of the rdb act before the debt recovery tribunal. therefore it is felt that borrowers will get a reasonably fair deal and opportunity to get the .....
Tag this Judgment!Court : Kerala
Reported in : AIR2009Ker114; 2009(2)KLJ144
..... that the solatium components of the compensation which thitherto was only 15% of the market value was enhanced to 30%. it was through the said act itself that section 23(1-a) was introduced into the principal act of 1894 thereby providing that an additional amount calculated at the rate of 12% per annum on the determined market value for the period commencing ..... to time by the reserve bank of india and by the finance ministry obviously on the basis of the levels of inflation prevailing at the relevant times. i cannot agree with mr. shaffiq when he argues that the higher rate of interest at 15% was provided by the parliament under sections 28 and 34 with the objective of bringing the rate of .....
Tag this Judgment!Court : Kerala
Reported in : [1989]179ITR259(Ker)
..... and in the circumstances of the case, the assessee is entitled to depreciation on roads and fences ?' 7. depreciation is allowable to the assessee under section 32 of the income-tax act, 1961. it says that in respect of depreciation of buildings, machinery, plant or furniture owned by the assessee and used for the purposes of the ..... of the assessee was commissioned on march 18, 1974, and the accounting year of the assessee ended on december 31, 1974. therefore, while allowing the relief under section 80j, the income-tax officer took into consideration the fact that the plant was commissioned only on march 18, 1974, and restricted the relief for the proportionate period ..... raised related to the eligibility of the assessee for depreciation on roads and fences and also on the quantum of the relief available to the assessee under section 80j. the income-tax officer held that the assessee is not entitled to depreciation on the cost of roads and fences. the appellate assistant commissioner allowed .....
Tag this Judgment!Court : Kerala
Reported in : 1985(6)ECC185; 1985LC603(Kerala)
..... is urged that the high court was incompetent to entertain the writ petition because the respondent had failed to exhaust the statutory remedies permissable under the bengal finance (sales tax) act. it was submitted that a revision application lay to the board of revenue, and without moving the board of revenue, the respondent could not file a ..... of kernels shown in the original contract and the substituted contract. that means, if there is a valid contract which satisfies the requirements of section 63 of the contract act, then the exporter is entitled to get the requisite permission to export the kernels provided the value of the kernels shown in the shipping document ..... the contract remains the same though there was some variation regarding the mode of performance. in such circumstances, i am of the view that section 63 of the contract act squarely applies. section 63 reads:-- 63. every promisee may dispense with or remit, wholly or in part, the performance of the promise made to him, or .....
Tag this Judgment!Court : Kerala
Reported in : AIR1966Ker184; 1966CriLJ757
..... and did not therefore offend the maxim dele gatus non potest delegare; but the question whether it was permissible under the statute, the prevention of food adulteration act, 1954. section 23, under which if was made was not considered. with great respect i do not think that, on this point, that case was rightly decided.8a. ..... central government alone and that too after previous consultation and previous publication. by authorising the state government to add to the list, the central government is acting against the terms of section 23. pointed attention was, unfortunately not drawn to this aspect of the case in the case in 1962 ker lt 1012. my learned brother raman ..... very beginning, is the only question for decision in this case, namely, whether the impugned clause comes within the power conferred on the central government by section 23 of the act. and all the cases cited, like the cases considered in 1962 ker lt 1012, are cases of delegations made by legislatures sovereign in their own .....
Tag this Judgment!Court : Kerala
Reported in : [1990]181ITR512(Ker)
..... counsel. counsel for the revenue submitted that in accordance with clause 3 of the trust deed, the trust is carrying on business in textiles for the purpose of financing the construction of a hospital at palai on a land taken on lease and this involves an activity for profit. it was submitted that in so far as the ..... the income-tax appellate tribunal is right in holding that the assessee is entitled to exemption under section 11 of the income-tax act, 1961 ?' 2. the respondent (assessee) is a charitable trust. it was formed as per deed dated january 30, 1970. as the name itself indicates, its object was for affording medical relief to the poor by establishing ..... were carrying on a business in textiles, for the purpose of financing the construction of a hospital at palai in a land taken on lease, it is pursuing an activity of general public utility and so the assessee did not qualify for exemption under section 11 of the income-tax act. in appeal, the commissioner of income-tax (appeals) held .....
Tag this Judgment!Court : Kerala
Reported in : [1973]87ITR71(Ker)
..... before september 30, 1963, is invalid. the assessee also pointed out circumstances to explain the delay in filing the return in pursuance to the notice under section 139(2) of the income-tax act.4. the income-tax officer being not satisfied with the reasons given by the assessee imposed on him a penalty of rs. 5,166. the ..... income-tax act, 1922, which corresponds to section 171 of the income-tax act, 1961, observed : ' the first point which falls for determination ..... of the income-tax act, 1961, show that mens rea is an ingredient to be proved by the department before the imposition of penalty. in commissioner of income-tax v. anwar ali, [1970] 76 i.t.r. 696, 700 (s.c.) their lordships of the supreme court in considering the nature of the proceedings under section 28 of the indian .....
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