Judgment Search Results Home > Cases Phrase: finance act 1987 section 91 amendment of section 42 Court: uk supreme court Page 9 of about 1,412 results (0.214 seconds)

Shakti Yezdani Vs. Jayanand Jayant Salgaonkar

Court : Supreme Court of India

..... in order to overcome such conditions, boosting investors confidence was deemed necessary along with ensuring that 9 statement of objects & reasons, the companies (amendment) act 1999 10 press information bureau, press release, july 23, 1999 page 24 of 43 company law remained in consonance with contemporary economic policies of ..... similar in nature by virtue of the fact that the provision of nomination within the statute begins with a non-obstante clause and/or is armed with the term vest such as the (banking regulation act, 1949, the government savings certificate act, 1959 and/or the employees provident fund act, 1952), multiple courts have rejected the argument that the nominee would become the page 26 of 43 absolute owner to the exclusion of the legal heirs. ..... accordingly, the following questions were formulated for decision in the appeals: (i) whether a nominee of a holder of shares or securities appointed under section 109a of the companies act, 1956 read with the bye-laws under the depositories act, 1996 is entitled to the beneficial ownership of the shares or securities subject matter of nomination to the exclusion of all other persons who are entitled to inherit the estate of the holder as per the law of ..... , (1987) 1 scc42421 (1992) 1 scc335page 36 of 43 act, 1956 vide the companies (amendment) act, 1999 wherein emphasis was laid on building investor confidence and bringing the company law in tune with policies of liberalisation & ..... peerless general finance and investment .....

Associated Indem Mechanical Pvt. Ltd. Vs. West Bengal Small Scale Indu ...

Court : Supreme Court of India

Reported in : AIR2007SC788; (SCSuppl)2007(2)CHN183; (2007)5MLJ775(SC); 2007(1)SCALE117; (2007)3SCC607; 2007(1)LC0163(SC); 2007AIRSCW489

..... of his contention, learned counsel has referred to the definition of 'premises' and 'tenant' as given in section 2(c) and (f) of the act and also to the provisions contained in section 3(2)(ia) of the act and has submitted that the whole scheme of the act shows that the same can apply to residential premises only and can have no application to an industrial shed ..... a sub-clause of a section introduced to cover a particular type of contingency cannot cut down the scope or content of other clauses of the same section or the main provisions of the act nor can the addition of the said sub-clause by way of a subsequent amendment whittle down or restrict the applicability or reach of ..... even thereafter the appellant did not commence any manufacturing activity and consequently two notices under section 3(1) of the act were issued by the prescribed authority on 29.5.2002 calling upon the appellant to hand over possession of ..... it has been urged that the use of the words 'house or an apartment' in clause (1a) of sub-section (2) of section 3 unequivocally shows that the act was intended to apply only to residential buildings and not to a commercial building or an industrial shed which has been leased out for carrying on manufacturing ..... counsel has elaborated his argument by submitting that while defining the word 'premises' in sub-section (c) of section 2 of the act, the words 'building or hut and includes part of a building or hut' have ..... general finance and ..... air 1987 sc 1023 and mahalakshmi .....

Radhey Shyam Gupta Vs. Punjab National Bank and anr.

Court : Supreme Court of India

Reported in : AIR2009SC930; 2009(2)ALT9(SC); 2009(4)BomCR490; RLW2009(2)SC1783; (2009)1SCC376:2008AIRSCW8284

..... shobha lastly submitted that the revision petition filed by the bank before the high court was in itself not maintainable in view of the provisions of section 115 of the code, as amended, which makes it clear that if an order in favour of a party applying for revision decides the matter finally then only a revision would be maintainable, but if the same did not decide the suit or other proceeding ..... the high court was considering the question as to whether the executing court could go behind the decree in coming to the finding that the same was not executable against the appellant on account of proviso (g) to section 60(1) of the code, and in that context the directions given by the high court in the revision petition were justified.23. mr. ..... except for the decision in the jyoti chit fund and finance case (supra), where a contrary view was taken, the consistent view taken thereafter support the contention that merely because of the fact that gratuity and pensionary benefits had been received by the appellant ..... : (1976)iillj69sc , where while dealing with the provisions of sections 3 and 4 of the provident funds act, 1925, prohibiting attachment of sums held by the government, as well as proviso (g) to section 60(1) of the code, this court held that till such time as amounts payable by way of provident fund, compulsory deposits and pensionary benefits did not reach the hands of the employee they retained their character ..... hingorani : (1987)iillj3sc and gorakhpur university and ors. .....

Commissioner of Income Tax, Bombay Vs. Imperial Surgical Co. (Pvt.) Lt ...

Court : Supreme Court of India

Reported in : [1991]192ITR646(SC); 1993Supp(4)SCC2

..... these considerations apart, the high court has disposed of the application under section 256(2) on the ground that the matter is covered by a circular of the board. ..... treating these items as perquisites within the meaning of section 40(a)(v), the income-tax officer disallowed a sum of rs. ..... section 40(a)(v) has since been replaced by another section 40a(5) which has also been substituted in 1989. ..... this is an appeal from an order of the high court of bombay declining to direct the tribunal to state a case for its decision under the income-tax act, 1961.2. .....

Godfrey Phillips India Ltd. and anr. Vs. State of U.P. and ors.

Court : Supreme Court of India

Reported in : (2005)194CTR(SC)257; JT2005(5)SC587; (2005)2SCC515; [2005]139STC537(SC)

..... of tobacco by a tobacconist made otherwise than by way of sale, the normal price at which the tobacco is sold, and the term 'normal price' shall have the same meaning as assigned to it in section 4 of the central excise and salt act, 1944; 2 (h) 'tobacconist' means:- (i) a manufacturer whose turnover of receipts in a year exceeds one lakh rupees who supplies tobacco by way of sale or otherwise and includes any person who for the ..... packing; and(b) in respect of the supply of luxuries of tobacco products made by him otherwise than by way of sale, the normal price at which such tobacco products are sold'.a tobacconist has been defined in section 2(kkk) as'tobacconist' means a person who supplies whether by way of sale or otherwise luxuries, like, tobacco products manufactured by him or purchased from other states or from other persons in this state and includes ..... act, 1915 act (as amended by the government of india acts 1916 and 1919) provided for the division of the country into provinces including the two presidencies of bengal and madras ( ..... constitutional validity of the expenditure tax act 1987 (central act 35 of 1987) ..... 741 held the rules were law corresponding to the provisions of the central excise & salt act, 1944 and were superseded by the finance act, 1950 ..... are referable to the right to tax luxuries under this entry, we are concerned with the uttar pradesh tax on luxuries act, 1955, the andhra pradesh tax on luxuries act, 1987 and the west bengal tax on luxuries act, 1994. .....

State, Cbi Vs. Sashi Balasubramanian and anr.

Court : Supreme Court of India

Reported in : (2006)206CTR(SC)857; 2006(204)ELT193(SC); [2007]289ITR8(SC); JT2006(9)SC535; 2006(10)SCALE541

..... the provisions of this section shall not apply(iii) to any person in respect of whom prosecution for any offence punishable under chapter ix or chapter xvii of the indian penal code (45 of 1860), the foreign exchange regulation act, 1973 (46 of 1973), the narcotic drugs and psychotropic substances act, 1985 (61 of 1985), the terrorists and disruptive activities (prevention) act, 1987 (28 of 1987), the prevention of corruption act, 1988 (49 of 1988), or for the purpose of enforcement of any civil liability has been instituted on or before ..... subject to the provisions of this scheme, where any person makes, on or after the 1st day of september, 1998 but on or before the 31st day of december, 19998, a declaration to the designated authority in accordance with the provisions of section 89 in respect of tax arrear, then, notwithstanding anything contained in any direct tax enactment or indirect tax enactment or any other provision of any law for the time being in force, the amount payable under this scheme by ..... interpretation and/or application of the 'kar vivad samadhan scheme 1998' framed under the finance (no.2) act, 1998 is in question in this appeal which arises out of a judgment and order dated 20.01.2005 passed by the high court of madras in crl.op nos.31422 and 36254 of 2004.4. ..... this is the main difference between the impugned act and the taxation laws (amendment and miscellaneous provisions) act, 1965. .....

Reserve Bank of India and Others Vs. Peerless General Finance and Inve ...

Court : Supreme Court of India

Reported in : 1996IAD(SC)774; AIR1996SC646; [1996]85CompCas920(SC); JT1996(1)SC8; 1996(1)SCALE13; (1996)1SCC642; [1996]1SCR58

..... has held that the bank was competent and authorised to issue the 1987 directions in exercise of powers conferred under section 45-k(3) of the act which confers a wide power on the bank to give any direction in respect of any matter relating to or connected with the receipt of deposits and that under the said provision the bank ..... non-banking financial companies (reserve bank) directions, 1977 or, as the case may be, the miscellaneous non-banking companies (reserve bank) directions, 1977, is not an equipment leasing company, a hire purchase finance company, a housing finance company, an insurance company, an investment company, a loan company, a mutual benefit financial company and a miscellaneous non-banking company. ..... majority of the non-banking companies accepting deposits were non-financial companies and in order to more effectively regulate the deposit accepting activities of these companies, the companies (amendment) act, 1974 was enacted and sections 58-a and 58-b were inserted in the companies act, 1956. ..... 10, 1993 whereby the maximum period of deposits was reduced from 120 months to 84 months and it has been held that the bank was competent to make the said amendment in view of the powers conferred on it under section 45-k(3) of the act. ..... mode of avoiding compliance with the requirements of paragraphs 6 and 12 of the 1987 directions, the bank, by notification dated april 19, 1993, amended the 1987 directions and inserted paragraph 4a which contains the following provision :4a. .....

Peerless General Finance and Investment Co. Limited and anr. Vs. Reser ...

Court : Supreme Court of India

Reported in : AIR1992SC1033; [1992]75CompCas12(SC); 1991CriLJ1391; JT1992(1)SC405; 1992(1)SCALE216; (1992)2SCC343; [1992]1SCR406

..... further observed 'we would also like to query what action the reserve bank of india and the union of india are taking or proposing to take against the mushroom growth of finance and investment companies' offering staggeringly high rates of interest to depositors leading us to suspect whether these companies are not speculative ventures floated to attract unwary and credulous investors and capture ..... qualifying matters relating to or connected with the receipt of deposits in the above provision is of great significance and in our view the impugned directions of 1987 are fully covered under section 45k(3) of the act, which gives power to the reserve bank to issue such directions. ..... working against the public interest, the reserve bank is always free to change its policy and scrap or amend the directions as and when necessary, we have no doubt that if in times to come the reserve bank feels that business of the kind run at present by the peerless and other companies, in terms of the directions of 1987 are not yielding the result as envisaged by the reserve bank, it will always be prepared to consider ..... it is not the function of the court to amend and lay down some other directions and the high court was ..... if the definition of liability is amended as suggested by us, it will be possible for the ..... 31st august, 1990 allowed the said application and further ordered that the cause title and the records proceedings of appeal, memorandum of appeal and the paper book filed be amended accordingly. .....

Tobacco Board Vs. Commissioner of Income-tax and ors.

Court : Supreme Court of India

Reported in : (2000)160CTR(SC)527; [2000]243ITR4(SC); 1999(2)MPLJ168; (2000)10SCC522

..... the appellant filed a writ petition in the high court of madras seeking a mandamus to the chief engineer, madras port trust - respondent herein to accept the community certificate of the appellant dated 10.3.1987, issued by the tehsildar, mambalam, for the purpose of his appointment as a mazdoor in the madras port trust. ..... the request of the appellant to accept the certificate issued by the tehsildar in 1987 and not to insist upon the production of a fresh certificate from the revenue divisional officer was turned down and the appellant was told that if he did not produce the certificate from the revenue ..... proper for the respondent to have insisted upon a fresh certificate to be produced by the appellant from the revenue divisional officer as admittedly the community certificate produced by the appellant had been issued by the tehsildar concerned in 1987, that is, prior to 11.11.89. 6. ..... the appellant appeared before the respondent and produced the relevant documents including the community certificate issued by the tehsildar, mambalam, madras, dated 10.3.1987. .....

Laghu Udyog Bharati and anr. Vs. Union of India and Others

Court : Supreme Court of India

Reported in : AIR1999SC2596; 1999(65)ECC687; 1999LC53(SC); 1999(112)ELT365(SC); JT1999(5)SC352; 1999(4)SCALE440; (1999)6SCC418; [1999]3SCR1199; [1999]115STC616(SC); 2006[2]STR276

..... the persons who are utilising the services of goods transport operators and of clearing and forwarding agents and are seeking to impugn the validity of rule2(xii) and (xvii) of the service tax rules, as amended in 1997, on the ground that the said sub rules are contrary to the provisions of sections 65 and 66 of the finance act, 1994, whereby service tax was sought to be levied by the parliament.2. ..... by chapter v of the finance act, as amended by the finance act, 1997 service tax is imposed in relation to the taxable services which are ..... (3) with effect from the date notified under section 84 of the finance act, 1997, there shall be charged a service tax at the rate of five per cent of the value of the taxable services referred to in sub clauses (g), (h), (i), (j),(k), (m), (n), (o), (p), (q) and (r) of clause (41) of section 65 which are provided to any person by the person responsible for collecting the service tax ..... (2) with effect from the date notified under section 85 of the finance (no.2).act, 1996 (33 of 1996), there shall be charged a service tax at the rate of five per cent of the value of the taxable services referred to in sub-clauses (c), (e) and (f) of clause 41 of section 65 which are provided to any person by the person responsible for collecting the service ..... ) dated 2nd june, 1998 issued under section 93 of the finance act taxable services provided by goods transport operators, outdoor caterers, pandal and shamiana contractors were exempted from the levy of the said .....