Court : Patna
..... the assessee-firm, namely, messrs. natraj processing industries, gaya, started its business in calendering of cloth in the accounting year and thereby claimed the relief under section 80j of the act. the relief was denied by the income-tax officer on the ground that the assessee-firm was not engaged in manufacturing or producing any article. 3. the ..... the tribunal held that the calendering of cloth was an operation of manufacture within the meaning of section 80j and the tribunal relied upon its own decision reported in income-tax application no. 1426/(patna) of 1977-78 decided on august 17, 1978, for coming to the said conclusion. 5. the further case of the assessee is that ..... does not become a new andcommercially different commodity and ceases to be 'grey' cloth. for this reason, the assessee-firm is not entitled to relief under section 80j of the act. 10. for the reasons stated above, i answer the question referred in this case in the negative and in favour of the department. there will be .....
Tag this Judgment!Court : Patna
..... purpose of selling up a factory at tupudana for manufacturing alloys steal item in the said factory he applied for a term loan from the respondent bihar state finance corporation. a term loan of rs. 37 lacs was sanctioned to the petitioner on 16-3-88. pursuant thereof he entered into an agreement with the respondents ..... stifled, cribbed or crabbed. the corporation should adopt positive approach to stimulate production and productivity in every sector of economy, 14. while stating the object of the state financial act, the supreme court, in the case of mahesh chandra v. regional manager, u. p. financial corporation and ors. 1992 bbcj-220 : (1992) 2 bljr 1365 (sc ..... frustrates the very objective of the corporation. it is certainly not the helping attitude which could subserve the purpose 01 the loan and the object of the act as also the constitutional objective of economic justice to the needy. the delayed disbursement result in delay of completion of the project which would cause default in .....
Tag this Judgment!Court : Patna
..... , no escape from the conclusion that despite the fact, 'land' includes 'homestead of the land-holder', the same having not been included in the charging section, viz., section 4 of the act, cannot be taken into consideration for the purpose of determining the ceiling area of the landholder. 23. in other words, it must be held that only the ..... so long as the land remains his homestead'. 13. it is, therefore, clear from the aforementioned provision that in terms of sub-section (2) of section 5 of the said act as amended by bihar act 1 of 1973 a land-holder was not only entitled to retain the lands falling within the ceiling area and any land forming part ..... . it is significant to note that other kinds of lands which are not capable of being used for agricultural or horticultural purpose have specifically been retained in section 4 of the act, namely, orchard, kharhur or pasturage or forest land, hilly land, sandy land or land perennially submerged under water except that submerged in the bed of .....
Tag this Judgment!Court : Patna
..... be any doubt that a statute is presumed to have prospective operation unless it is given retrospective operation expressly or by necessary implication. 29. section 10c of the said act embraces within its fold even such cases where medical institutions have been established before the 1st day of june, 1992. a right to obtain ..... particular expression does their activity relate. it is enough to say that the petitioners do have the right to establish private educational institutions -- at any rate, self-financing/cost-based private educational institutions. this right can be restricted only by a law as contemplated by clause (6) of article 19.' 39. the supreme court ..... medical college on the basis of the increase in its admission capacity shall be a recognised medical qualification for the purposes of this act. explanation -- for the purposes of this section the criteria for identifying a student who has been granted a medical qualification on the basis of such increase in the admission capacity .....
Tag this Judgment!Court : Patna
..... the construction of the roads in rural area but also concerned with other developmental schemes. the state has also stated in the counter affidavit that the project is being financed by the world bank, as indicated hereinbefore, it has clearly been stated by the respondents in the counter affidavit the reasons which necessiated the amendnient in 1981 rules.13 ..... consideration matters which are irrelevant to what he has to consider. if he does not obey those rules, he may truly be said, and often is said, to be acting 'unreasonably'. similarly, there may be something so absurd that no sensible person could ever dream that it lay within the power of the authority.14. as the instant case ..... u. p. state financial corporation v. g.e.m.c.a.p. (india) pvt. ltd. and anr. (1993) 2 scc 229, held as follows:the obligation to act fairly on the part of the administrative authorities was envolved to ensure the rule of law and to prevent failure of justice. this docrine is complementary to the principles of .....
Tag this Judgment!Court : Patna
..... establish and incorporate affiliating-cum-teaching universities at various places in the state of bihar. the respondent magadh university is one of the universities established under section 3 of the said act. 5. on the above premise the questions which fall for our consideration are : (i) whether the chancellor has any authority to accord permission ..... return it to the academic council for re-consideration, unless such regulation, in the opinion of the syndicate relates to matters which directly or indirectly, affect the finances of the university. (ii) such a regulation shall have effect from the date on which it has been assented to by the chancellor on being passed ..... be mentioned here that during that period academic council was not in session and, therefore, the v ice-chancellor in exercise of his power under section 10(12) of the act framed the aforesaid transitory regulationand sent it to the hon'ble chancellor for the approval.' 21. therefore, on the above statements it is quite .....
Tag this Judgment!Court : Patna
..... obligation on the seller to collect income-tax at source had been provided under section 206c of the act read with section 44ac thereof. the finance act, 1992, has deleted section 44ac and sub-section (1) to section 206c has been substituted by a new sub-section.the present set of cases are governed by the provisions as they existed till ..... those provisions."yet recently in jaishree traders v. union of india [1993] 2 pljr 80 this court held as follows :"section 44ac and 206c were inserted in the act by the finance act, 1988. under section 44ac, the legislature had devised a notion of presumptive income, i.e., income deemed to accrue by conclusive presumption of ..... question of validity of the said provision is still pending consideration before the supreme court. in the meantime, by the finance act, 1992, section 44ac has been deleted from the statute book and section 206c has been substituted, making it self-contained. the effect of this amendment is that the concept of presumptive income .....
Tag this Judgment!Court : Patna
..... obligation on the seller to collect income-tax at source had been provided under section 206c of the act read with section 44ac thereof. the finance act, 1992, has deleted section 44ac and sub-section (1) to section 206c has been substituted by a new sub-section;the present set of cases are governed by the provisions as they existed till 31st ..... 10. yet recently in jaishree traders v. union of india [1993] 2 pljr 80 this court held as follows : 'sections 44ac and 206c were inserted in the act by the finance act, 1988. under section 44ac, the legislature had devised a notion of presumptive income, i.e., income deemed to accrue by conclusive presumption of law ..... question of validity of the said provision is still pending consideration before the supreme court. in the meantime, by the finance act, 1992, section 44ac has been deleted from the statute book and section 206c has been substituted, making it self-contained. the effect of this amendment is that the concept of presumptive income for .....
Tag this Judgment!Court : Patna
..... that the provision contained in clause 4 of the agreement had its statutory source in the proviso to section 22 of the indian electricity act, 1910 and owed its justification and validity to the said proviso, section 22 of the indian electricity act, 1910 is as follows:22. obligation on licensee to supply energy.where energy supplied by a licensee ..... in order to supply electricity to a consumer at its maximum demand.12. as a corollary of this mr. sen contended that divorced from the proviso to section 22 the realisation of any minimum guaranteed charges would be wholly insupportable. it would amount to conferring on the board the right to recover the minimum guaranteed charges ..... required to supply electrical energy at par with its total connected loads at all imes throughout the year. this is a wholly unfounded and incorrect assumption and in act at no time the board is required to supply energy equal to its total connected load. to five an analogy this argument is similar as finding fault .....
Tag this Judgment!Court : Patna
..... relief of the poor, education, medical relief and the advancement of any other object of general public utility. 12. section 12a of the said act lays down registration of trusts. section 2(15), before its amendment made by the finance act, 1983, which came into effect on april 1, 1984, reads thus : ''charitable purpose' includes relief of the ..... . 26. in this case, the school in question does not appear to be recognised by any authority. 27. it is true that by reason of the finance act, 1983, the question as to whether any charitable institution is being run with a profit motive or not has lost its relevance. however, the word 'charitable' ..... large number of decisions, held (at page 950) : 'from the aforesaid observations, it becomes clear that, in order to earn total exemption under section 10(22) of the act, an assessee should be an educational institution or an establishment which primarily engages itself in educational activities. though the words 'educational activities' are words of .....
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