Court : Mumbai
..... year may not necessarily be the outcome of alteration in the very nature of the activities of the trust or institution. hence, section 13 of the act has been amended vide finance act, 2012 by inserting a new sub-section (8) therein to provide that such organization would not get benefit of tax exemption in the particular year in which its ..... involve carrying on of any activity in the nature of trade, commerce or business etc. for financial consideration. the 2nd proviso to said section, introduced w.e.f. 01-04-2009 vide finance act 2010, provides that in case where the activities of any trust or institution is of the nature of advancement of any other object of ..... of 2016 would have only prospective effect in respect of assessment made subsequent to the amendment under section 2(15) of the act w.e.f. 1st april, 2016 is also not sustainable. the amendment in section 2(15) of the act brought about by finance act, 2016 w.e.f. 1st april, 2016, is essentially that where earlier the receipts in .....
Tag this Judgment!Court : Mumbai
..... executed for the same do the transactions themselves become one or related to each other from the standpoint of the security interest of the trustee. 10. in boi finance ltd. vs. custodian (1997) 10 supreme court cases 488), the supreme court has held that in the case of a composite agreement consisting of diverse reciprocal ..... colourable transaction designed to defeat the provisions of indian law and was opposed to public policy and thus, illegal; and that the guarantee obtained by the plaintiff, acting along with fmo and deutsche bank, was merely structured to facilitate a security for such assured returns on fdi in an impermissible sector. 4. based on the ..... . ltd. ('rubix'), for a loan extended to the latter by deutsche investments india pvt. ltd. ( diipl ) inter alia on the security of certain assets. the plaintiff acted as a security trustee for and behalf of the lender, diipl, to hold upon trust, and enforce, the security. rubix, the principal borrower, having failed to repay the .....
Tag this Judgment!Court : Mumbai
..... like to even test/accept the submission that the insistence of particular branded product by the respondent-union of india, in view of section 3 of the competition act, read with section 23 of the indian contract act, 1872, inspite of clause 8 of special condition, was impermissible and contrary to contract conditions. the appellant was fully aware of ..... set aside. hence the present appeal. 9. the appellant has challenged impugned judgment and order dated 20 april 2015, passed by the learned single judge under section 34 of the arbitration act, thereby prayer clause (a) of the petition to the extent of claim nos. 1 and 2 of the respondent has been allowed and thereby, the ..... appeal. in paragraph no.17 it is observed that: 17. the apex court in the case of m/s. chebrolu enterprises vs. andhra pradesh backward class cooperative finance corporation ltd. reported in 2015(12) scale 207, recently reiterated and reinforced the principle that unless case of perversity and/or error on the face of the .....
Tag this Judgment!Court : Mumbai
..... petition by passing the following order: order (a) we direct the state co-ordination committee constituted by the government of maharashtra under sub-section (1) of section 13 of the disabilities act to perform its function by advising the state government on the formulation of policy and legislation on the issue whether there should be a provision ..... accordingly. 16. at this stage, we may note the stand taken by the state government in the affidavit of shri sunil p. pandhare, under secretary of the finance department. on page 27 of his affidavit, in paragraph 7, he has stated thus: "7. ...in the central government/govt. of india, there is no ..... not entitled to leave as prayed for. the learned government pleader representing the state government relied upon affidavits-in-reply filed by shri sunil pandurang pandhare, under secretary, finance department and smt.mamta s. shere, the assistant commissioner, social welfare, mumbai city. 6. reliance is placed in the affidavit of smt. mamta s. shere .....
Tag this Judgment!Court : Mumbai Nagpur
..... argument cannot be accepted for the reason that there is no provision of recording of statements of the person against whom inquiry is made either in section 42 or section 55b or section 311 of the act, 1965. under section 311, discretion has been given to the inquiry officer to summon and examine any person whose evidence appears to him to be material. if the ..... .l.j. 208, (ii) savitri chandrakesh pal v. state of maharashtra and ors. 2009 (4) mh.l.j. 406; (iii) pradeep k.r. sangodkar v. state of maharashtra and anr. 2007 (supp.) bom. c.r. 544; (iv) joint commissioner of income tax, surat v. saheli leasing and industries ltd. (2010) 6 scc 384 and (v) anil rai vs. state of bihar ..... in this case. 37. shri gilda, learned counsel for respondent no. 4 has placed his reliance upon the cases of (i) ram sunder ram v. union of india and ors. (2007) 13 scc 255, (ii) state of orissa and ors. v. mamtarani sahoo and anr. (1998) 8 scc 753, (iii) k.h. siraj v. high court of kerala and ors. (2006 .....
Tag this Judgment!Court : Mumbai Nagpur
..... respondent by a senior officer deputed in this regard. 26. it is thus submitted that there are no defects in the impugned orders issued under section 127 of the act as same are speaking orders with reasons for transfer of cases to jodhpur, which also establish necessity of centralizing all cases of petitioners for facilitating ..... petitioners from the jurisdiction of the income tax officer, wardha to the assistant commissioner of income tax, central circle-ii, jodhpur under the provisions of section 127 of the act. it was stated in that letter that the cases of mundra group are to be centralised for the purpose of coordinated investigations and assessments in jodhpur ..... jodhpur and also submits his self-assessment challans from time to time at jodhpur. the petitioner no.3 is also the chairman of a company shri chakra housing finance pvt. ltd., jodhpur whose registered and corporate office is shown as 37-a, ajit colony, jodhpur. all the activities of this company, which are related to .....
Tag this Judgment!Court : Mumbai Goa
..... to the private respondents do not come in any of the schemes or categories referred to therein. this is not an exercise to provide houses to economically weaker section or small scale industry or charitable institution or any category notified by the government. hence, on going through the provisions of the code there is nothing to ..... to be rehabilitated in survey no. 379/1 of the same village. it is also their case that the respondents no. 4 and 5 are, in fact, financing the said project and that the said respondents, in collusion with the former office bearers of the temporary managing committee of the comunidade of serula, have played a ..... proceeding to arbitrarily and unilaterally putting up a construction, without taking the comunidade into confidence, is wholly unjustified. the learned counsel further points out that the malafide acts on the part of the respondents no.4 and 5 cannot be condescend and such construction put up by the said respondents deserve to be ordered to be .....
Tag this Judgment!Court : Mumbai
..... a statutory bar as to the jurisdiction of the court to decide the suit against defendant no.15 in view of the provisions of section 3 of the international finance corporation (status, immunities and privileges) act, 1958. defendant no.15 also pleaded that the allegations made against defendant no.15 in the plaint were vague, ambiguous and lacked ..... ors vs. municipal corporation of gr.mumbai and ors., (2002(2) vol.104(1) bom.l.r. 120; deepak ansal vs. ansal properties and industries ltd. and anr,, (2007) 138 dlt 560; anjum nath vs. british airways plc. and ors., (2005)125 dlt 717; clarinda d'souza vs. mccann erickson india ltd., 2003(2) mh.l.j ..... april 2012, the plaintiff received a show cause notice from the ministry of consumer affairs, government of india alleging violation of conditions of notification dated 5 june 2007 by which the plaintiff was allowed to conduct trading in forward contracts of one day duration subject to conditions as contained in the notification. the show cause notice .....
Tag this Judgment!Court : Mumbai Nagpur
..... by the parliament for the safety and security of the citizens and the unity, sovereignty and integrity of the country, the punishment prescribed for those committing any act contrary of section 364a ipc cannot be dubbed as so outrageously disproportionate to the nature of the offence as to call for the same being declared as unconstitutional. judicial discretion available ..... bhumeshwary, the mother of the accused wanted to purchase tvs scooty as well as motorbike of honda company. however, since she was not in a position to get the finance, the said vehicles were purchased in his name. however, the repayment of the loan was made by the mother of the accused. it is to be noted that all ..... yadav, again he has admitted the same to be true. 71. the prosecution has examined pw39 suresh pande whose evidence is at exh.170. he states that from 2007 he came to nagpur for doing the rituals in the temple of lord hanuman, located at mankapur, nagpur. he further states that in the year 2009 there was an .....
Tag this Judgment!Court : Mumbai Nagpur
..... for the directors to show to the trial court that they had nothing to do with the manufacture process and, therefore, they should not be held liable under section 34(2) of the act. 16. in the result, the application deserves to be dismissed. accordingly, the application is dismissed with costs of rs. 10,000/- (rupees ten thousand) ..... court could have straightway dismissed the revision. however, this court heard learned counsel for the applicants since he was citing the judgment delivered by this court date 26.9.2007 in the case of the state of maharashtra...versus...mr. kailash munnalal jindal and ors. in respect of the same company. 5. perusal of the said judgment dated ..... 26th september, 2007 shows that this court refused leave to appeal in a judgment against acquittal, which was recorded by the trial court after a full dressed trial. i do not .....
Tag this Judgment!