Court : Orissa
Reported in : AIR1999Ori40; [2001]103CompCas412(Orissa)
..... would be just and equitable towind up the sick industrial company as the promoters are not in a position to garner the fundsrequired for financing the cost of the schemeframed under section 18 of the act. the order hasbeen passed after taking all relevant aspects thatneed to be considered in the matter like the one athand. 9. in the ..... was passed prima facie holding that as the promoters were not in a position to garner the fund required towards financing the cost of the scheme, it was thought necessary to issue notice under section 20 of the act for hearing the objections/suggestions or alternative proposals, if any. it has also come out in the counter of ..... capacity and in course of time, the unit became non-viable and ultimately had to be closed down. therefore, the petitioner made a reference under section 15(1) of the act to the board which on hearing the parties declared the petitioner-industrial concerned a 'sick industrial company' and appointed the ifci as the operating agency and .....
Tag this Judgment!Court : Orissa
Reported in : AIR1985Ori153; 1985(I)OLR345
..... principles in view, if we examine the provisions of the state financial corporations act, more particularly section 29 thereof, we find that the act is intended to regulate the activities of the financial corporation and the main object of such corporation is to finance medium and small-scale industries. with the rising tempo of industrialisation of the ..... enquiry may have more far reaching effect than a decision in a quasi-judicial enquiry........'in the case of smt. maneka gandhi v. union of india air 1978 sc 597, the supreme court observed in paragraph 58 of the judgment : --'...................natural justice is a great humanising principle intended to invest law with fairness and ..... agreement with the financial corporation.3. according to the case of the petitioner, the corporation sanctioned a loan of rs. 6.75 lakhs on 20th january, 1978 and the stipulation in the agreement was that the loan would be repaid by eighteen half-yearly instalments of rs. 37,500/- each beginning from 28th of .....
Tag this Judgment!Court : Orissa
Reported in : 2002(I)OLR243
..... smt. bindulata mohanta v. state (wrongly described as bidyutlata mohanty); and(4) out of the 869 additional section teacher posts, the government in finance department and p & c department have approved creation of 701 additional section teachers wherein the applicant has not been enlisted.the last sentence of the impugned order makes an interesting reading ..... indirect manner and is liable for contempt on his failure to implement the decision. no authority of the government can claim immunity from contempt liability if act of disobedience of court's order is apparent and obstructs administration of justice.(ii) while deciding the case of the applicant, this court in its ..... by the government does not arise.(2) that the incumbent was not selected and appointed in accordance with the provisions contained in the orissa education act and orissa education (recruitment and conditions of services of teachers and members of the staff of the aided educational institutions) rules, 1974. therefore the .....
Tag this Judgment!Court : Orissa
Reported in : 2000(119)ELT12(Ori)
..... petitioner no. 1, to indian metals and ferro alloys limited ('imfa', shortly), petitioner no. 3, and the show cause notice issued in terms of section 124 of the customs act, 1962 ('the act' hereinafter) have been challenged in this writ petition.2. sequence of facts leading to filing of present writ petition is as hereunder:a letter of intent ..... bonded area without prior permission of the competent authority. iccl wrote to the director (customs) of the central board of excise and customs in the ministry of finance of the government of india about the directions given by the superintendent of central excise and customs, choudwar. in response to notice dated 8-12-1988 the ..... conditions contained in the appendix appended to the communication dated 27-10-1984 to which reference has been made earlier and the views of the ministry of finance that the captive power plant being not amenable to the discipline of bonding could not be given the benefit of exemption under 100% eou scheme, writ petition .....
Tag this Judgment!Court : Orissa
Reported in : AIR1994Ori258; 1995(I)OLR544
..... . ...... .'in balla ram, air 1949 fc 81, the learned judges approved the observations of lord thankerton, in in re, a reference under the government of ireland act, 1920; in re section 3, finance act (northern ireland), (1936) 2 all er 111 to the effect :--'it is the essential character of the particular tax charged that is to be regarded, and the ..... in question.12. on the other hand, in the case of shashikant laxman kale v. union of india, air 1990 sc 2114, when validity of section 10(10c) of the income-tax act, as introduced by the finance act, 1987, had been challenged, their lordships held (at p. 2119 of air) :--'for determining the purpose or object of the legislation, it is ..... and in support of the stand, he places reliance on the decision of the supreme court in the case of the state of karnataka etc. v. ranganatha reddy, air 1978 sc 215, as well as the decision of the gujarat high court in the case shri prithvi cotton mills ltd. v. broach borough municipality, air 1968 guj 124, and .....
Tag this Judgment!Court : Orissa
Reported in : AIR2008Ori37; (2008)218CTR(Ori)568; [2008]299ITR56(Orissa)
..... the petitioner submitted that keeping in view the said provision, exemption was allowed under section 10(23bba) of the income-tax act which was introduced in the year 1979 by the finance act with retrospective effect from 1st april, 1962.section 10 of the income-tax act provides that in computing the total income of previous year of any person, ..... and who are statutorily not required to file return of income as per the provisions of section 139 are:xxx xxx xxx(v) body or authority referred to in clause (23bba).section 139(4c) was inserted by the finance act, 2002 w.e.f. 1-4-2003 requiring certain specific body or institutions such as, scientific research association ..... , news agency or institution referred to under various sub-clauses of section 10 to file i.t. returns, would be clear .....
Tag this Judgment!Court : Orissa
Reported in : [1991]72CompCas436(Orissa)
..... be no further curtailment of the state's power of taxation.17. in the aforesaid case, these observations were made while examining the validity of section 5(3) of the bihar finance act, 1981, which provision ran counter to what was laid down in the drug (price control) order, 1979, which had been issued by the ..... law under entry 33 of list iii which is the relevant entry relating to the essential commodities act, 1955. the provision of section 6 of the essential commodities act, was, therefore, not allowed to override the provisions of section 5(3) of the bihar finance act.18. though in hoechst pharmaceuticals' case : [1985]154itr64(sc) the apex court was concerned ..... : 1955crilj876 navinchandra mafatlal v. cit : [1954]26itr758(sc) c7t v. benoy kumar sahas roy : [1957]32itr466(sc) and chaturbhai m. patel v. union of india, : 1978(2)elt297(sc) .14. yet another principle to which reference may be made in this context is that while the widest amplitude should be given to the language given in .....
Tag this Judgment!Court : Orissa
Reported in : AIR2008Ori88; 106(2008)CLT324; 2008(I)OLR659
..... some institutions have been notified in exercise of powers conferred under sub-clause (iv) of clause (m) of sub-section (1) of section 2 of the securitization act. in the said notification maharshi housing development finance corporation ltd., new delhi has been notified as a financial institution on and from 10th november, 2003. this fact ..... central government under sub-clause (ii) of clause (h) of section 2 of the recovery of debts due to banks and financial institutions act and under section 2(m)(iii) means the international finance corporation established under the international finance corporation (status, immunities and privileges) act, 1958. admittedly opposite party no. 6 is not coming under ..... e. on 26.5.2001 and 6.5.2002, opposite party no. 6 maharshi housing development finance corporation ltd., was not a financial institution within the meaning of section 2(m)(iv) of the said act and not being a financial institution it was not a secured creditor and could not invoke the provisions .....
Tag this Judgment!Court : Orissa
Reported in : 1995CriLJ2417
..... already disclosed by the accused, or from some undisclosed source. a question arose as to whether a voluntary disclosure under section 24 (2) of the finance (no. 2) act, 1965, had to relate to income actually earned by the declarant. that section granted immunity to the declarant alone and not to other persons to whom the income really belonged. it was observed by ..... by her natural father biswanath jena has been completely left out of consideration. in the records of settlement operation of the year 1970, and the consolidation operation of the year 1978, this land stood recorded in the name of accused's wife manorama. reference is made to ext. a/4. moomanath (d.w.15) has also stated that cultivation was ..... of posting of the accused have been taken to be in urban area as evident from ext. 128. but between the period from 20-11-1971 to 2-5-1978 he was posted at talcher thermal power station and from 3-5-1980 to 4-6-1982 as evident from ext. 107. during these periods the accused was taken .....
Tag this Judgment!Court : Orissa
Reported in : [1991]188ITR306(Orissa)
..... transfer or not on which collateral fact the competent authority would assume jurisdiction under chapter xx-a.10. there is no doubt that section 293, as it stood prior to its amendment by the finance act of 1988, did not bar the jurisdiction of the civil court expressly in respect of an order passed under chapter xxa of ..... defendant no. 3 also filed an appeal against the same in the said appellate tribunal. both the appeals were dismissed by the tribunal by order dated august 30, 1978. the said order in the proceeding under chapter xxa became final as the aggrieved party never approached the high court and, therefore, the civil court would have ..... of the income-tax act. the proceeding was initiated both against the plaintiff and defendant no. 3, namely, the transferor and the transferee. due particulars were given to the parties and, after considering the stand of both the transferor and transferee, defendant no. 2 passed orders on march 18, 1978. the plaintiff filed an appeal against the .....
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