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Shree Synthetics Ltd. Vs. Deputy Commissioner of

Court : Income Tax Appellate Tribunal ITAT Indore

Reported in : (1997)61ITD253Indore

..... shri goyal argued that if 'units' were shares, there would have been no need to amended the proviso to section 2(42a) by finance act, 1994, w.e.f.1-4-1995 to specifically include them for extending the benefit of the lower holding period of 12 months for the purpose of computing capital gains on sale thereof. ..... advocate for the assessee that if 'units' were shares, there would have been no need to amend the proviso to section 2(42a) by the finance act, 1994, w.e.f. ..... referring to the provisions of section 80m and the amendment brought about by the finance act, 1993, w.e.f. ..... to chief general manager, uti (copy at page 41 of the paper book), whereby c.b.d.t.clarified that for the purpose of section 2(42a) of the act as it then existed, units are not treated as shares for providing benefit of the proviso to that section inserted by the finance act, 1987. ..... according to him, the loss suffered by the company on sale of units was correctly considered in the assessment passed under section 143(3) of the act and the cit was not justified in invoking section 263 for applying provisions of section 73 of the act to the loss suffered by the assessee on sale of units which was allowed by the assessing officer as loss in his order dated 18-3-1993. ..... this loss was claimed by the assessee and was allowed in the assessment framed by the assessing officer on 18-3-1993 under section 143(3) of the act. ..... for the assessment year 1990-91, the assessment was framed on 18-3-1993 under section 143(3) of the act. .....

Kerala State Coir Corporation Ltd. Vs. Union of India (Uoi) and ors.

Court : Kerala

Reported in : (1994)121CTR(Ker)245; [1994]210ITR121(Ker)

..... the commissioner of income-tax in his order, exhibit p-5, relied on the retrospective amendment introduced to section 143(1a) by the finance act of 1993, with retrospective effect from april 1, 1989, under which additional tax was made leviable even in cases where the net result wasa loss after carrying out the adjustments. ..... the third respondent, assessing authority, accepted the return by his proceedings, exhibit p-3, dated october 24, 1991, under section 143(1)(a) of the act. ..... apart from that the object of section 143(1a) is prevention of tax evasion. ..... 44,05,251 under section 143(1a) and demanded the said amount from the petitioner. ..... the section is invoked only when the return filed does not accord with the realities. ..... 1907 of 1994 to declare the said amendment as beyond the legislative competence of the union under entry 82 of list i to the seventh schedule to the constitution and as ultra vires articles 14 and 265 of the constitution.4. ..... 2016 of 1994, is also filed in similar circumstances.5. ..... the petitioner is an assessee to tax under the income-tax act, 1961 ('the act'). ..... 1907 of 1994.2. .....

Dr.kranti Kiran, Mbbs,ms,dnb,mch Vs. The State Of Karnataka

Court : Karnataka

..... from writ petition no.10837 of 2023, what was prayed by the petitioners was to set aside the notification dated 25.05.2023 issued by respondent no.1- state and to consider the representation dated 23.05.2023 filed by the petitioners in light of sections 31 and 55 of the rajiv gandhi university of health sciences act, 1994. ..... as per sub-section (2), the committee shall consist of members, who would be the secretary to the government, social welfare and labour department, the director of the social welfare, the secretary, finance department and 4 non-official members nominated by the government. ..... khc:31562-db wa no.635 of 2024 c/w wa no.714 of 2024 wa no.870 of 2024 members thereof up to the date of next reconstitution: provided that no person nominated or elected to any of the authorities specified in section 20 shall hold office for more than two consecutive terms in such authority.7.6.1 the above provision contemplates that senate/syndicate/ academic council shall be constituted at or about the same time every three years. ..... khc:31562-db wa no.635 of 2024 c/w wa no.714 of 2024 wa no.870 of 2024 8.1 the division bench after discussing the provisions of sections 21 and 24 observed and held thus in paragraph 10, section 31 of the act provides that senate, syndicate and academic council shall be reconstituted at or about the same time every three years and members of the authorities shall, except in case of ex-officio members, hold office as members thereof up to the .....

Patel Engineering Limited Vs. The State Of Karnataka

Court : Karnataka

..... . it has been urged by way of this appeal arising out of slp, that the agreement to sell was void ab initio, in light of section 157-a, uttar pradesh zamindari abolition & land reforms act, 1950, whereby a person belonging to a scheduled caste cannot transfer property to any person not of a scheduled caste without prior permission of the collector or district ..... the employees' contribution from the wages payable to the employee for credit to the employees' state insurance fund held and administered by the employees' state insurance corporation established under the employees' state insurance act, 1948 (34 of 1948), shall be deemed to have been entrusted with the amount of the contribution so deducted by him and if he makes default in the payment of such contribution to the said fund in violation of ..... 2017 the company and gulam mustafa infinite dwelling (india) private limited ( gm infinite ) took finance assistance from state bank of india for sanction of loan facility. ..... agarwal s/o shri arun kumar agarwal senior general manager- finance patel engineering limited aged about42years having office at patel estaes v road jogeshwari (west) mumbai 400 102. ..... which was the legal owner of the land was insisted by the bank to give a corporate guarantee towards the finance availed of by the other parties to the jda. ..... warke s/o suresh warke joint general manager-finance patel engineering limited aged about44years having office at: patel estaes v road jogeshwari (west) mumbai 400 102. .....

Government Of Nct Of Delhi Vs. Office Of Lieutenant Governor Of Delhi

Court : Supreme Court of India

..... notes on clauses many of the clauses of the bill provide for amendments to the delhi municipal corporation act, 1957 in order to bring its provisions, as far as possible, in consonance with the provisions contained in the constitution (seventy-third amendment) act, 1992 and the constitution (seventy-fourth amendment) act, 1992 as well as consequent on the transfer of certain functions now being performed by the municipal corporation ..... text of section 3(3)(b)(i) of the dmc act, 1957 as amended by act 67/1993 expressly ..... provided that in the case of difference of opinion between the lieutenant governor and his ministers on any matter, the lieutenant governor shall refer it to the president for decision and act according to the decision given thereon by the president and pending such decision it shall be competent for the lieutenant governor in any case where the matter, in his opinion, is so urgent that it ..... special provisions with respect to delhi-: (1) as from the date of commencement of the constitution (sixty- ninth amendment) act, 1991, the union territory of delhi shall be called the national capital territory of delhi (hereafter in this part referred to as the national capital territory) and the administrator thereof appointed under ..... section 107a provides that the administrator shall constitute the finance ..... such as nomination of experts, election commissioner, constituting finance commission, convening the first meeting of the corporation, acting as an appellate authority, etc. .....

National Housing Bank Vs. Bherudan Dugar Housing Finance Ltd. And Ors. ...

Court : Supreme Court of India

..... arises from a reference made by a two-judge bench of this court for determination of the following questions by a larger bench: (a) whether for purposes of section 141 of the negotiable instruments act, 1881, it is sufficient if the substance of the allegation read as a whole fulfil the requirements of the said section and it is not necessary to specifically state in the complaint that the person accused was in charge of, or responsible for, the conduct of the business of ..... business of the company, as well as the company, shall be deemed to be guilty of the offence and shall be liable to be proceeded against and punished accordingly: provided that nothing contained in this sub-section shall render any such person liable to any punishment provided in this act, if he proves that the offence was committed without his knowledge or that he had exercised all due diligence to prevent the commission of such offence. ..... held that the requirements of sub-section (1) of section 50 of the 1987 act are similar to the requirements incorporated in section 141 of the negotiable instruments act, 1881 (for short, the ni act ), which were not complied with ..... above discussion, our answers to the questions posed in the reference are as under: (a) it is necessary to specifically aver in a complaint under section 141 that at the time the offence was committed, the person accused was in charge of, and responsible for the conduct of business of the ..... bank appellant versus bherudan dugar housing finance ltd. .....

Principal Additional Director General Vs. M/s Rajiv Gandhi University ...

Court : Karnataka

..... (c) this discussion assumes significance because of statutory policy enacted in finance act, 1994 as amended from time to time and the subordinate legislations promulgated thereunder which intended to keep a class of educational services / institutions away from their ..... submission that clause (d) of section 96d of the finance act, 1994 itself is deleted w.e.f. ..... nani a.palkhivala - a life by m.v.kamath pages 74-75 - 33 - wa no.856 of 2022 (oa) "educational institution" means an institution providing services specified in clause (1) of section 66d of the finance act, 1994 (32 of 1994);]. ..... generated on account of said acts do not admit the idea of consideration as employed in section 65b(44) of the finance act, 1994. ..... , they are not covered in the negative list enacted in section 66(1)d and section 65b(44) of finance act, 1994. ..... works of merit and research pertaining to health sciences; (xx) to establish and maintain university libraries, research station, museums and press and publication bureau; (xxi) to establish research posts and to appoint suitable persons to such posts; (d) section 5 r/w sections 45 & 46 inter alia provides for privileges, recognition and affiliation of all colleges and autonomous institutions of health sciences that were affiliated to conventional universities. ..... 143 taxmann.com 278 *(sc) * corrected vide chamber order dated 01.08.2024 sd/- (ksdj) - 8 - wa no.856 of 2022 statute was structured on the recommendation of raja challaiah committee on tax reforms, .....

Yugal Sikri Vs. State Of U.p.

Court : Supreme Court of India

..... therefore, in the complaint alleging the commission of an 3 offence punishable under section 29 of the id act, there must be a specific averment regarding the existence of a settlement or award binding on the accused under the id act and how the same has been breached. ..... he pointed out that the order under section 34 of the id act does not refer to any violation of section 29 at all, and it only refers to the breach of an affidavit and the provisions of section 9a of the id act.4. ..... he further submitted that under section 34(1) of the id act, cognizance of any offence punishable under the id act can be taken based only on a complaint made by or under the authority of the appropriate government. ..... therefore, while exercising power under section 34(1) of the id act of granting authority, there is a complete non-application of mind. ..... moreover, the order purportedly passed in the exercise of powers under section 34(1) of the id act does not even refer to the commission of an offence punishable under section 29 of the id act. ..... therefore, the learned magistrate could not have issued a process for the 4 offence punishable under section 29 of the id act based on the statement made by the second respondent under section 200 of the cr. pc. ..... the petition was filed to quash a complaint filed in a criminal court by the second respondent alleging the commission of an offence punishable under section 29 read with sections 32 and 34 of the industrial disputes act, 1947 (for short, the id act ). .....

Yash Developers Vs. Harihar Krupa Co Operative Housing Society Ltd.

Court : Supreme Court of India

..... lastly, he submits that in any case, the sra has the power to suo moto proceed against the appellant under section 13(2) of the act and therefore the withdrawal of complaints is not fatal to proceeding against the appellant and does not preclude the agrc from deciding the appeal. mr ..... it is in this perspective that this court has, in a number of cases, directed the executive to carry a performance/assessment audit of a statute or has suggested amendments to the provisions of a particular enactment so as to remove perceived infirmities in its working.1837. ..... the present case is a classic case of how the petitioner is running helter- skelter to secure finance, that too without taking the society into confidence much less the authorities. ..... it is for such reason, the real wherewithal and financial stability of a developer plays an extremely pivotal role, as finance is the very lifeline for successful implementation and completion of the slum scheme. ..... he has taken us through the various findings of the high court on the finances and the clauses in the agreements entered into with the third parties. ..... in any case, the petitioner struggled to avail finance and was facing severe financial crisis, this itself was material for the chief executive officer of the sra to come to a conclusion that it may not be possible for the petitioner to execute the ..... chief executive officer however did not call upon the petitioner to satisfy that it had the appropriate finances to undertake the entire scheme . .....

Gaurav Kumar Vs. Union Of India

Court : Supreme Court of India

..... of an election; (i) section 9 deals with disciplinary committees; (j) section 9a talks about constitution of legal aid committees; 32 part f (k) section 10 provides for constitution of committees other than disciplinary committees; (l) section 10a pertains to transaction of business by bar councils and committees; (m) section 11 allows bar councils to appoint staff; (n) section 12 mandates bar councils to maintain books of account for audit; (o) section 13 provides that vacancies in bar councils cannot be a ground to challenge the validity of acts done by a bar council; and (p) section 14 pertains to challenges to ..... each entrant to the profession and so far we have been able to ascertain, not only are the amounts received sufficient to finance their activities but some of these councils have accumulated out of these and other receipts substantial amounts which have been invested by ..... subsequently, section 24(1)(f) was amended in 1993 to revise the fees payable by general candidates from rupees two hundred fifty to rupees seven hundred fifty, without increasing the fees payable by candidates belonging to the ..... has submitted that this court exercise its extraordinary powers under article 142 to implement a uniform enrolment fee structure that adequately caters to the financial requirements of the sbcs until legislative amendments are made to the advocates act. ..... the advocates act was enacted to amend and consolidate the law relating to legal practitioners and constitute a common bar .....