Court : Kolkata
Reported in : (1996)2CALLT81(HC)
..... on such matters, refer such case to such department for their opinion before finalising its recommendations.(6) the mayor-in-council may refer any other matter, included in this chapter, to the committee for its scrutiny and recommendation.(7) the mayor-in-council shall consider the recommendations of the committee and, in case of any modification, alternation or ..... been imposed under the law and it cannot be said to be incidental to any of the provisions of the said act. this question was also considered by a division bench of this court in the case of thakkar estate and finance co. pvt. limited and anr. v. the calcutta municipal corporation and ors., in appeal no. 266 of 1991, ..... judgment delivered on 10/2/1994, since reported in cai, lt 1995(1) mc 382 and it is stated that the special .....
Tag this Judgment!Court : Kolkata
Reported in : [1995]55ITD13(Cal)
..... 10. on the aforesaid facts, we now proceed to a consideration of the arguments advanced by both the sides. section 115j was introduced as a separate chapter (chapter xii-b) of the income-tax act by the finance act, 1987, with effect from 1-4-1988. the section remained in operation for three years up to the assessment year 1990-91. it ceased to have ..... effect from 1-4-1991 as per amendment made by the finance act, 1990. now, the section was introduced, as per the cbdts circular no. 495 dated 22-9-1987, 'as a measure of equity'. (see 168 itr 110)it was thought ..... the non obstante clause. recently the supreme court had occasion to consider the scope and purport of the non obstante clause in the case of bharat hari singhania v. cwt : [1994]207itr1(sc) of the report, the supreme court held that the scope and purport of a non obstante clause have to be ascertained by reading it in the context of .....
Tag this Judgment!Court : Kolkata
Reported in : [1998]93CompCas725(Cal),99CWN1178
..... appointment of chairman or removal of chairman is vested in the consulting engineers.70. the learned advocate referred to section 255 of the companies act and section 25 of the industrial finance corporation act, 1948.71. he has also submitted that articles 129 to 131 referred to the agreement between the company and the consulting engineers. the ..... for termination thereof. however, nothing has been produced by the contesting defendants to show that such agreements have been terminated excepting the disputed letter of october 4, 1994, on which no reliance can be placed for the reasons stated herein-above.39. mr. roy has further submitted that by getting himself elected, a director does ..... . 3. punjab national bank v. sanchaita investment [1985] 89 cwn 509. 73. the learned advocate for defendants nos. 2 to 5 has also referred to chapter viii, section 38 of the specific relief act. he has submitted that no perpetual injunction could be claimed as under section 38(2) the provisions of .....
Tag this Judgment!Court : Kolkata
Reported in : 1998(60)ECC518
..... 4/93 (f. no. 605/ 50/93-dbk) dated 4th march 1993 on the subject : clarification regarding value based scheme : advance licensing. in value based licensing scheme as contained in chapter vii of the export import policy (april 1992-march 1997), the relevant paras of the hand book of procedures to the above policy and customs exemption notification no. 203/92 ..... alia was that the circulars dated 4.3.93 and 5.1.94 at pages 10007 and 1008 of the writ petition both issued by the central government, ministry of finance, department of revenue specifically clarified that for the purposes of the benefit under the notification no. 203/92 dated 19.5.92 it was not necessary that the goods ..... . paragraphs 6, 7 and 8 of the grounds of detention referred to the statements made by the detenu on 18.2.94 and march 1, 1994 in which he gave out his complicity in the acts of smuggling.40. in paragraphs 9 and 10 of the grounds of detention we find reference to statements of one aloke kumar dated 22nd february .....
Tag this Judgment!Court : Kolkata
Reported in : [1996]85CompCas808(Cal)
..... . shanti bhusan submitted that one of the objects of regulation of acceptance of deposits by the non-banking companies is framing of depositors form. he also referred to chapter 3 relating to evaluation of regulations governing acceptance of deposits by the non-banking companies and also paragraphs 3.1, 3.33 and 3.5 of the said report ..... are the reproduction of the definition of the prize chit in section 2(e) of the prize chits and money circulation schemes (banning) act, 1978. the supreme court in reserve bank of india v. peeress general finance and investment co. ltd. [1987] 61 comp cas 663 ; air 1987 sc 1023, has expressly held that the business of peerless ..... . v. s.d. agarwal : [1969]3scr108 . (iii) rampur distillery and chemical co. ltd. v. company law board : [1970]2scr177 . (iv) s.r. bommai v. union of india : [1994]2scr644 . 156. it has been submitted on behalf of the intervener that the reference by the reserve bank of india in its written notes to the reports of raj committee .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1995Cal246
..... position is altered by a rule or legislation, no question of legitimate expectation would arise.' 43. in gaziabad development authority v. delhi auto and general finance pvt. ltd., reported in : [1994]3scr248 , the supreme court held:--'9. it is difficult to appreciate how the change of land use of the area in the master plan from ' ..... 88 with regard to that two stages payments were received by it. both the aforementioned bank guarantees were furnished in favour of the central government. chapter iii of the said act provides for special powers of the central government to realise the amount from the shipowner to whom the committee had granted a financial assistance, which ..... committee. the word 'shipping concern' has been defined in s. 2(h) of the said act to mean any concern engaged in the business of shipping, owned, controlled or managed by a shipowner. chapter iii of the said act provides for special powers of the central government in terms whereof a non obstante clause has been enacted .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1995Cal169,(1995)1CALLT98(HC)
..... the company. needless to say that such a power can be conferred by the board of directors only by passing a resolution in that regard.24. chapter iv of the delhi high court (original side) rules deals with the question of presentation of suits. under this rule, suitcan be presented by a duly authorised agent ..... however, the question of authority to institute a suit on behalf of a company is not a technical matter. it has, far-reaching effects. it often affects policy and finances of the company. thus, unless a power to institute a suit is specifically conferred on a particular director, he has no authority to institute, a suit on behalf of ..... entitled to recover the damages and expenses from the plaintiff as also the said agents who have purported to act in the name of the plaintiff in instituting this suit and in obtaining the ex parte order dated 7th july, 1994. i propose to appoint the official referee of this court as the special referee to determine the quantum of .....
Tag this Judgment!Court : Kolkata
Reported in : [1995]213ITR236(Cal)
..... belonging to the equipment lessor.' 'material purposes' is defined in paragraph 1 of schedule 17 as meaning 'the purposes of chapter i of part iii of the finance act 1971.' that is the chapter which starts with section 40 of the act of 1971 and includes sections 41 and 44.the submission for the crown is that the purposes of ..... and equipment under relevant statutory provisions relating to income and corporation tax allowances.the primary sections are in the finance act 1971. section 44, which in concerned with writing down allowances provides :'(1) subject to the provisions of this chapter where - (a) a person carrying on a trade has incurred capital expenditure on the provision of machinery ..... . and fitzroy finance ltd. they are members of a group of which the parent is mercantile group plc., a company associated with barclays bank plc. in relation to each of the five companies there is an appeal and a cross-appeal against a decision of vinelott j. given on 27 january 1994 [1994] 2 w. l. r. .....
Tag this Judgment!Court : Kolkata
Reported in : (1995)124CTR(Cal)201,[1995]211ITR79(Cal)
..... [1993]199itr530(sc) , the supreme court read the requirement of natural justice into the provisions of section 269ud of the income-tax act, 1961. their lordships held that (at page 554) :'although chapter xx-c does not contain any express provision for the affected parties being given an opportunity to be heard before an order for purchase, ..... as annexure 'e' and they were responsible not only for the purpose of policy-making but also for discharging day-to-day duties and responsibilities which include finance, accounts, income-tax, etc., and subsequently they all are conjointly responsible for the conduct of the business of the company and thus they all are liable for ..... ) , in my view, the requirement of natural justice is inherent in the provisions of section 279(2) which reads as follows :'(2) any offence under this chapter may, either before or after the institution of proceedings, be compounded by--(a) the board or a chief commissioner or a director-general authorised by the board in .....
Tag this Judgment!Court : Kolkata
Reported in : (1995)126CTR(Cal)69,[1995]212ITR496(Cal)
..... therefore, when the return for the assessment was filed the cash compensatory support must be deemed to have been taxable. it is also said that by virtue of the finance act, 1993, section 143(1a) had been amended so that additional tax can be imposed even if after the adjustment the assessee would suffer loss. this amendment, it is ..... determine the petitioners' case on the merits the nature of and limits on the power under section 143(1)(a) are considered.25. section 143 is contained in chapter xiv of the act which provides for the procedure for assessment. section 143(1), in so far as it is relevant, provides :'143. (1)(a) where a return has ..... in respect of which adjustments are permissible under section 143(1)(a).42. deductions, allowances and reliefs have been dealt with under separate headings under the act. deductions are covered by chapter vi-a, sections 30, 31 et sequitur. the word allowance has been used interchangeably with the word deduction and is referred to in section 33a and .....
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