Court : Punjab and Haryana
Reported in : (1998)120PLR1
..... unjust result and would probably defeat the legislative intents and object rather than achieving the same. we cannot lose sight of the relevant constitutional provisions contained in chapter ix-a of the constitution. the language used by the legislature is the best and perfect instrument for the expression of human intention and construction of ..... will not have any material bearing on the controversy in the present case. we may also notice here that rules 72-a of the haryana municipal rules, 1978, was introduced for the first time vide notification dated 13th september, 1995, i.e. subsequent to the impugned resolution. as the procedure for rejection or carrying ..... legislature in face of 74th amendment of the constitution :-74th amendment of the constitution by amendment act of 1992, for the first time, introduced the concept of municipalities in the constitution with effect from 1.6.1993. chapter ix-a of the constitution of india is a self contained complete code in itself, provides .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [1999]98CompCas131(P& H); (1998)120PLR478
..... on limitation has no conflict and there has been a consistent view in this regard. reference could also be made to the case of official liquidator, security & finance p. ltd. v. pushpa wati puri (1978) 48 comp cas 385 (delhi), the relevant portions read as under (at pages 393, 394) : 'it is, therefore, not possible to hold on ..... by the orders of the court under section 433 with the aid of the provisions of sections 433, 434 and 439 of the companies act as explained in chapter 11 of part vii of the act. the power of the court to order winding up of a company or voluntary winding up subject to superintendence of the court, both ..... the official liquidator that certain irregularities in liquidation proceedings under the voluntary liquidator were being committed and a petition under section 440 read with section 515 of the companies act, 1956, for removal of the voluntary liquidator and for winding up of the company should be filed in the high court. consequently, a company petition, being company .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [1999]97CompCas80(P& H); (1998)118PLR520
..... a result of default of the respondent-company, the following amounts are stated to be outstanding against the respondent-company : outstandinglender amount(in rupees)industrial finance corporation of india ltd.(in respect of its said first and second loans) : 4,10,72,066industrial credit and investmentcorporation of india ltd. (in ..... to as 'the respondent-company', had approached various financial institutions for seeking financial assistance and loans, etc. the four petitioners/applicants, namely, the industrial finance corporation of india ltd., the industrial credit and investment corporation of india ltd., the industrial development bank of india and the industrial investment bank of india ltd ..... the jurisdiction of different forum is not possible then the question of granting the leave arises. 11. chapters (i) to (v) of part vii of the companies act, 1956, hereinafter referred to as 'the act', can be simply termed as a self-contained code for winding up of a company and control over .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (1999)156CTR(P& H)190
..... scope of s. 172 of the act has been elaborately discussed and set out by a decision of the supreme court in the case of union of india v. gosalia shipping (p) ltd. : [1978]113itr307(sc) . as under :'sec. 172 occurs in chapter xv which is entitled 'liability in special cases' and the sub-heading of the section is 'profits of non-residents ..... is an agent of the non-resident from whom the tax will be recoverable under the other provisions of this act.'the last portion of s. 172 of the act beginning from the words, 'unless the income tax officer....' was omitted by the finance act, 1975, with effect from ist june, 1975.10. the unamended provisions of s. 172 was subject-matter of consideration .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [1998]234ITR595(P& H)
..... nothing on record to show that, under the partnership agreement, the new partner was debarred from taking part in the conduct of the business and he was introduced to bring finance only.27. during the course of hearing, s/shri j. k. sibal and mohan jain, advocates, who are counsel for other assessees in similar other matters, also ..... it was noticed by the tribunal that persons other than licensees had acted on behalf of the licensees in contravention of the provisions of the punjab excise act, 1914. there was nothing in the deed of partnership to show that any of the partners was merely a financing or a sleeping partner and was not to actively participate in the ..... to a licence issued under the excise act, was prohibited by law. it was for these reasons that the constitution of the partnership was held to be not illegal.32. a question of partnership was examined by the andhra pradesh high court in addl cit v. degaon gangareddy g. ramkishan and co. : [1978]111itr93(ap) . that was, however, .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (1998)144CTR(P& H)127
..... on record to show that under the partnership agreement, the new partner was debarred from taking part in the conduct of the business and he was introduced to bring finance only.19. during the course of hearing s/shri j. k. sibal and mohan jain, advocates, who are counsel for other assessees in similar other matters, also ..... it was noticed by the tribunal that persons other than licensees had acted on behalf of the licensees in contravention of the provisions of the punjab excise act, 1914. there was nothing in the deed of partnership to show that any of the partners was merely a financing or a sleeping partner and was not to actively participate in the ..... regard to a licence issued under the excise act, was prohibited by law. it was for these reasons that the constitution of the partnership was held to be not illegal.23. a question of partnership was examined by the andhra pradesh high court in addl. cit vs . dagaon gangareddy g. ramkishan & sons : [1978]111itr93(ap) that was, however, a .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (1997)142CTR(P& H)510; [1998]232ITR179(P& H)
..... in that sub-clause. the allowance under sub-clause (iii) was withdrawn with effect from april 1, 1978, by the finance act, 1978. this sub-clause along with certain other sub-clauses were omitted from clause (b) by the finance (no. 2) act, 1980. the assessment years in the case of the assessee in hand are 1976-77, 1977-78 and ..... 1978-79. thus, the assessee is not entitled to seek weighted deduction under sub-clause (iii) for the assessment year 1978- ..... materials, etc.30,49,61668,15,39343,83,5462.export inspecting agencycharges.84,7161,44,33079,9923.bank commission13,03326,24325,1395. section 35b of the act was inserted by the finance act of 1968 with effect from april 1, 1968, to provide for the export markets development allowance in certain cases, it was omitted by the direct .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [1998]234ITR105(P& H)
..... and formed part of the price charged by the assessee. the amounts were consequently assessable as trading receipts.14. the delhi high court in cit v. motor and general finance ltd. : [1974]94itr582(delhi) , was once examining the case of a company which carried on the business of distribution of cinema films. under clause 2 of the ..... -son tractors and royal enfield motor cycles and their parts, besides doing repairing of tractors and motor cycles. the assessee filed a return of income for the assessment year 1978-79 (accounting year ending on june 30, 1977), declaring income of rs. 1,11,190. the assessee had shown, in its balance-sheet, a sum of rs ..... (for short, 'the act') :'whether, on the facts and in the circumstances of the case, the tribunal was right in holding that rs. 1,45,490 received by the assessee under post warranty services charges was not assessable in the assessment year 1978-79 and, therefore, the commissioner of income-tax had no jurisdiction to pass order under section .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (1997)142CTR(P& H)20
..... transaction and formed part of the price charged by the assessee. the amounts were consequently assessable as trading receipts.9. the delhi high court in cit vs . motor & general finance ltd. : [1974]94itr582(delhi) was once examining the case of a company which carried on the business of distribution of cinema films. under cl. 2 of the agreement ..... of massey furguson tractors and royal enfield motor cycles and their parts, besides doing repairing of tractors and motor cycles. assessee filed return of income for the asst. yr. 1978-79 (accounting year ending on 30th june, 1977), declaring income of rs. 1,11,190. the assessee had shown, in its balance sheet, a sum of rs. ..... (for short 'the act') :'whether, on the facts and in the circumstances of the case, the tribunal was right in holding that rs. 1,45,490 received by the assessee under post warranty services charges was not assessable in asst. yr. 1978-79 and, therefore, cit had no jurisdiction to pass order under s. 263 ?'2. assessee was .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : (1998)148CTR(P& H)276
..... and for five subsequent years, though such capitalisation is specifically prohibited under the provisions of explanation 8 to sub-section (1) of section 43 (inserted by the finance act, 1986 with retrospective effect from 1-4-1974)?whether, on the facts and in the circumstances of the case, the appellate tribunal was right in law in upholding ..... dismissed by the high court.in respect of the second question, shri sawhney relied on the judgment of this court in cit v. dharam pal shanti sarup (1978) 114 itr 411 and argued that the question sought by the revenue is a question of law which the tribunal should be directed to refer to this court. ..... before the tribunal, chandigarh bench, which upheld the order passed by the commissioner (appeals). the reference application filed by the revenue under section 256(1) of the act has been rejected by the tribunal.in respect of the assessment year 1981-82, the assessing authority disallowed the claim of the assessee regarding extra shift allowance on .....
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