Court : Supreme Court of India
..... that the borrowers may require further relief from the banking sector and that the rbi may consider granting further relief to the borrowers; xxi) that while the ministry of finance vide its letter dated 31.08.2020 seems to have communicated to the rbi the aforesaid views and recommendations of ndma regarding relief and repayment of loans by borrowers affected by covid 19 pandemic, ..... and the word resources has been defined in section 2(p) of the dma2005 x) that in the present case the steps for disaster management have not been undertaken by the statutory authorities under the act, which makes out a plain and simple case of issue of 19 mandamus to put the statutory authorities in action for performing their duties under the law; xi) that while section 11 mandates ..... duty to draw up a plan for disaster management for the whole country, at least this court has not been informed of any such national plan; xii) that section 12 of the act imposes a mandatory duty on the national authority to recommend guidelines for the minimum standards of relief to be provided to persons affected by disaster which includes inter alia the reliefs mentioned in three sub ..... finance and rbi have to have the approval and sanction of the 24 national authority which alone has the authority to make their recommendations; xviii) that even the government in discharge of executive functions and providing administrative response have to act as parens patriae which doctrine is embedded in the preamble ..... (1990) ..... 1990 .....
Tag this Judgment!Court : Supreme Court of India
Reported in : 2008(6)ALD19(SC); 2008(4)AWC3875(SC); JT2008(9)SC622; RLW2008(4)SC2794; 2008(12)SCALE367; (2008)9SCC552; 2008(6)Supreme402
..... company may or may not be for a public purpose, the provisions of part vii make it clear that the appropriate government cannot permit the bringing into operation the effective machinery of the act unless it is satisfied as aforesaid, namely, that the purpose of acquisition is to enable the company to erect dwelling houses for workmen employed by it or for the provision of amenities ..... , or by any authority established by government for carrying out any such scheme, or, with the prior approval of the appropriate government, by a local authority, or a society registered under the societies registration act, 1860 (21 of 1860), or under any corresponding law for the time being in force in a state, or a co-operative society within the meaning of any law relating to co-operative societies for the ..... background of `world tourism organisation report on the state of andhra pradesh in 2000' and in the light of the `vision 2000 document' prepared in mid 1990s highlighting the need for tourism as an important economic driver for the state, the state government initiated a project development exercise in 2000-01 for an international standard ..... the preamble of the act states;an act to provide for the rapid development of physical and social infrastructure in the state and attract private sector participation in the designing, financing, construction, operation and maintenance of infrastructure projects in the state and provide a comprehensive legislation for reducing administrative and procedural .....
Tag this Judgment!Court : Delhi
..... ita3152003 & connected cases page 15 of 27 (b) (1) in respect of any good manufactured in a unit other than the units of the type mentioned in annexure ii, which has undertaken expansion, diversification or modernization on or after april 1, 1990 but not later than march 31, 1995, in the areas mentioned in column 2 of annexure i, not tax shall be payable or, as the case may be, the tax shall be payable at the reduced rates specified in column 4 of ..... that the finance act of 2015 which came into force on 01.04.2016 amended section 2(24) of the income tax act and inserted ..... period of exemption reduction the rate of tax in monitory limit upto which exemption from or reduction in the rate of is admissible tax rate of tax applicable (denoted as percentage of the rate of tax normally applicable under the act to the goods concerned) year in case of ib case of units with other a fixed units capital investment exceeding 50 crores 1 2 3 4 5 ita3152003 & connected cases page 16 of 27 a b c (iii) the ..... the govt in granting subsidy is clear ita3152003 & connected cases page 6 of 27 from the preamble portion of the two notifications under which the appellant company became entitled to exemption in respect of sales ..... with the preamble to the scheme, reads inter alia as follows: st-ii-1093/xi-7(42)-86-up act-xv/48-order-91, ..... reliance was placed upon the preamble to the policy which envisioned large scale industrialization of the state with special facilities and incentives for setting up industrial .....
Tag this Judgment!Court : Delhi
..... ita3152003 & connected cases page 15 of 27 (b) (1) in respect of any good manufactured in a unit other than the units of the type mentioned in annexure ii, which has undertaken expansion, diversification or modernization on or after april 1, 1990 but not later than march 31, 1995, in the areas mentioned in column 2 of annexure i, not tax shall be payable or, as the case may be, the tax shall be payable at the reduced rates specified in column 4 of ..... that the finance act of 2015 which came into force on 01.04.2016 amended section 2(24) of the income tax act and inserted ..... period of exemption reduction the rate of tax in monitory limit upto which exemption from or reduction in the rate of is admissible tax rate of tax applicable (denoted as percentage of the rate of tax normally applicable under the act to the goods concerned) year in case of ib case of units with other a fixed units capital investment exceeding 50 crores 1 2 3 4 5 ita3152003 & connected cases page 16 of 27 a b c (iii) the ..... the govt in granting subsidy is clear ita3152003 & connected cases page 6 of 27 from the preamble portion of the two notifications under which the appellant company became entitled to exemption in respect of sales ..... with the preamble to the scheme, reads inter alia as follows: st-ii-1093/xi-7(42)-86-up act-xv/48-order-91, ..... reliance was placed upon the preamble to the policy which envisioned large scale industrialization of the state with special facilities and incentives for setting up industrial .....
Tag this Judgment!Court : Company Law Board CLB
Reported in : (1995)84CompCas811
..... guidelines, relating to mutual funds are not applicable to the unit trust of india and, therefore, the impugned transfers do not fall within the provisions of section 22a(3)(b) of the securities contracts (regulation) act, 1956, and as such we do not confirm the decision of the board of directors to refuse registration of transfers in respect of the shares covered in these references.accordingly, we direct that the company ..... unit trust of india is not only dealing with the mutual fund business but also acts as a finance company while the mutual funds under the securities and exchange board of india regulations are prohibited ..... section 21 of the unit trust of india act amplifies the preamble as "for the purpose of providing facilities for participation in the income, profits and gains arising out of the acquisition, holding, management or disposal of securities by the trust ..... from the above, it can be seen that while the guidelines of 1990 exempted statutory mutual funds from getting the approval of controller of capital issues and registration with the securities and exchange board of india, there is no clear ..... earlier guidelines of 1990, there is ..... to formulate mutual funds, general guidelines/regulations have also been issued to govern their functions.even though, as cited by shri kapadia the government guidelines, 1990, excluded statutory corporations yet such exceptions were only relating to registration and not for being constituted as trust under the indian trusts act. ..... 1990 .....
Tag this Judgment!Court : Guwahati
..... tax exemption on the purchase of raw materials in accordance with clause 10.4(i)(b) of the industrial policy, 1993, of the government of bihar and whether the notification issued by it on april 2, 1994 in exercise of power under section 7 of the bihar finance act, 1981, limiting the facility to those industrial units which had not availed any such benefit on the earlier incentive policy is invalid being contrary to the policy. ..... those industrial units that had come into production from april 1, 1993 to march 31, 1998 and that as the government was within its power to issue the impugned notification under section 7 of the bihar finance act prescribing the conditions and restrictions in the matter of exemption, interference therewith was untenable in law.45. ..... from persons purchasing its manufactured tea sold during the period of such exemption from april 14, 1988 to april 13, 1993 and it had submitted its return for the period ending march 31, 1990 disclosing the above, by the impugned assessment orders dated february 1, 1999, it was assessed to various amounts to tax and interest thereon for the aforementioned period. ..... reading the act as a whole, cumulatively with the statement of objects and reasons and the preamble thereof there appears to be no decipherable incompatibility with clause 7 of the policy appertaining to ..... the preamble thereof illustrated that its main objective was to consolidate and amend the provisions of law relating to sales tax in the matter of concessions .....
Tag this Judgment!Court : Chennai
Reported in : (2001)2MLJ826
..... sri haribabu naidu's case referred to above, has traced his history of the legislation of the general scheme of these debt relief acts from the tamil nadu ordinance 1 of 1975 to tamil nadu debt relief laws (amendment) act 1978 and held that the various provisions under these acts barred the institution of suit for a short while and if the period was over, there was no obstacle to the court getting ..... contingency which did not exist and what they should have really intended is the application of the section to cases covered by the rules of scaling down ofdebts under the 1979 act and therefore, the whole period from 15.1.1976 to 13.6.1979 is to be excluded for computing the period of limitation for filing a suit for making application exclusion.9. ..... the preamble to the tamil nadu indebted agriculturists (temporary relief) act 1975 (act 10 of 1975) states that whereas there has been widespread drought: and whereas the agriculturists have borrowed debts and may, if freed for a time form the pressure of creditors, be enabled to rehabilitate ..... alamelu ammal, 1990 (2) mlj 115, a learned judge of this court has taken the view that the tamil nadu agriculturist (temporary relief) act 15 of 1976 made a distinction between stay of pending suits and bar of institution of suits for the duration; but the act nowhere expressly said that the suit should be dismissed for contravention of section 3, and any such dismissal is to misunderstand the object of the act and to ..... finance ..... varalakshmi finance .....
Tag this Judgment!Court : Guwahati
..... the policy of the whole act is prevention of evasion, then both sections 37(1) and 37(2) apply in the same field and serve the same purpose, namely the prevention of evasion.dr.paul contended in reply that the preamble of the finance act of 1956, which introduced section 37(2) by way of an amendment, in the income-tax act, disclosed the policy, namely, the giving effect to the finance proposals of the central government. ..... out that the preamble of the finance acts passed from year to year has always been the same, and, therefore, cannot afford any guidance whatsoever in the matter of the scope and application of a special provision like section 37(2), introduced as an amendment to the indian income- tax act of 1922, by one of these finance acts.to meet the contention ..... point out that the preamble to the travancore act was in much more definite terms than the preamble to the indian income-tax act or to the indian finance act of 1956. ..... the preambles of the indian income-tax act and of the finance act of 1956 which introduced section 37(2) of the former act. ..... the preamble to the finance act of 1956 speaks of giving effect to the financial proposals of the government and dr.pal contends that if we interpret the term"financial proposals" in light of the budget speech of the finance minister, it will be found that the power of search and seizure was introduced in order to prevent tax evasion and hence the income-tax authorities are to select the field of application of sub-section (2) .....
Tag this Judgment!Court : Patna
Reported in : 2010(58)BLJR159
..... state of bihar), whereby the order passed by the authorities under the provisions of the bihar finance act (hereinafter referred to as 'the act'), has been upheld, and it has been held that the petitioner is not entitled to the benefit of exemption from payment of purchase tax on raw materials used for manufacture of the products to the extent of sales effected by ..... with these objectives clearly stated in the preamble, the new industrial incentive policy 1993 (hereinafter referred to as 'the industrial policy'; annexure 1) came to be issued, replacing the previous industrial policy. ..... the petitioner is a private limited company, incorporated under the provisions of the companies act 1956, and has set up a steel plant at hajipur, district vaishali. ..... in view of the provisions of section 7(3)(b) of the act, and in purported exercise of powers under paragraph 10.5 read with the provision of paragraph 10.4 of the 1993 industrial policy, the state government issued s.o. no. .....
Tag this Judgment!Court : Chennai
Reported in : (1935)69MLJ577
..... that this being so, it is not necessary that the special commissioners have to be satisfied that there has been an intention to evade tax before a direction can be made under section 21 of the finance act because the preamble of section 21 cannot either restrict or extend the enacting provisions in the section and that condition does not appear there.10. ..... our attention was drawn during the course of the argument to a number of english decisions upon the similar section in the english act - section 21 of the finance act of 1922 - but a distinction between the indian section and the english section has been pointed out quite properly by the assessees' learned ..... in the english section the purpose of preventing the avoidance of tax is set out in the form of a preamble to the section as follows:with a view to preventing the avoidance of the payment of super-tax through the withholding from distribution of income of a company which would otherwise be distributed, it is hereby enacted as ..... this company is a private limited company registered on the 9th january, 1926, under the indian companies act, its principal object being to acquire and hold stocks and shares in companies and other public bodies and distribute the income therefrom among its ..... he accordingly approved the proposal of the income-tax officer to apply the provisions of section 23-a of the act to the assessment of the company; and therefore, the income-tax officer passed an order under section 23-a(2) on the 14th september .....
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