Court : Orissa
Reported in : AIR1999Ori40; [2001]103CompCas412(Orissa)
..... would be just and equitable towind up the sick industrial company as the promoters are not in a position to garner the fundsrequired for financing the cost of the schemeframed under section 18 of the act. the order hasbeen passed after taking all relevant aspects thatneed to be considered in the matter like the one athand. 9. in the ..... was passed prima facie holding that as the promoters were not in a position to garner the fund required towards financing the cost of the scheme, it was thought necessary to issue notice under section 20 of the act for hearing the objections/suggestions or alternative proposals, if any. it has also come out in the counter of ..... capacity and in course of time, the unit became non-viable and ultimately had to be closed down. therefore, the petitioner made a reference under section 15(1) of the act to the board which on hearing the parties declared the petitioner-industrial concerned a 'sick industrial company' and appointed the ifci as the operating agency and .....
Tag this Judgment!Court : Orissa
Reported in : AIR1985Ori153; 1985(I)OLR345
..... consideration all relevant factors including all payments made by the entrepreneur till the date of the order that the pre-conditions of sub-section (1) of section 29 of the act have been fully satisfied. if the corporation fails to take into account the upto date payments made by the entrepreneur while deciding ..... corporation, strongly refutes the aforesaid contentions of the learned counsel for the petitioner and submits that the conditions precedent for exercise of power under section 29 of the act having been fully satisfied and the petitioner-company having defaulted in making payments in spite of repeated valid notice, the decision of the ..... in view, if we examine the provisions of the state financial corporations act, more particularly section 29 thereof, we find that the act is intended to regulate the activities of the financial corporation and the main object of such corporation is to finance medium and small-scale industries. with the rising tempo of industrialisation of .....
Tag this Judgment!Court : Orissa
Reported in : 2002(I)OLR243
..... smt. bindulata mohanta v. state (wrongly described as bidyutlata mohanty); and(4) out of the 869 additional section teacher posts, the government in finance department and p & c department have approved creation of 701 additional section teachers wherein the applicant has not been enlisted.the last sentence of the impugned order makes an interesting reading ..... indirect manner and is liable for contempt on his failure to implement the decision. no authority of the government can claim immunity from contempt liability if act of disobedience of court's order is apparent and obstructs administration of justice.(ii) while deciding the case of the applicant, this court in its ..... by the government does not arise.(2) that the incumbent was not selected and appointed in accordance with the provisions contained in the orissa education act and orissa education (recruitment and conditions of services of teachers and members of the staff of the aided educational institutions) rules, 1974. therefore the .....
Tag this Judgment!Court : Orissa
Reported in : 2000(119)ELT12(Ori)
..... petitioner no. 1, to indian metals and ferro alloys limited ('imfa', shortly), petitioner no. 3, and the show cause notice issued in terms of section 124 of the customs act, 1962 ('the act' hereinafter) have been challenged in this writ petition.2. sequence of facts leading to filing of present writ petition is as hereunder:a letter of intent ..... bonded area without prior permission of the competent authority. iccl wrote to the director (customs) of the central board of excise and customs in the ministry of finance of the government of india about the directions given by the superintendent of central excise and customs, choudwar. in response to notice dated 8-12-1988 the ..... conditions contained in the appendix appended to the communication dated 27-10-1984 to which reference has been made earlier and the views of the ministry of finance that the captive power plant being not amenable to the discipline of bonding could not be given the benefit of exemption under 100% eou scheme, writ petition .....
Tag this Judgment!Court : Orissa
Reported in : AIR1994Ori258; 1995(I)OLR544
..... ...... .'in balla ram, air 1949 fc 81, the learned judges approved the observations of lord thankerton, in in re, a reference under the government of ireland act, 1920; in re section 3, finance act (northern ireland), (1936) 2 all er 111 to the effect :--'it is the essential character of the particular tax charged that is to be regarded, and the ..... question.12. on the other hand, in the case of shashikant laxman kale v. union of india, air 1990 sc 2114, when validity of section 10(10c) of the income-tax act, as introduced by the finance act, 1987, had been challenged, their lordships held (at p. 2119 of air) :--'for determining the purpose or object of the legislation, it is ..... mineral rights is a tax and as such a cess on royalty being a tax on royalty is beyond the competence of the state legislature because section 9 of the central act (1957 act) covers the field and the state legislature is denuded of its competence under entry 23 of list ii of the seventhschedule of the constitution. it .....
Tag this Judgment!Court : Orissa
Reported in : AIR2008Ori37; (2008)218CTR(Ori)568; [2008]299ITR56(Orissa)
..... the petitioner submitted that keeping in view the said provision, exemption was allowed under section 10(23bba) of the income-tax act which was introduced in the year 1979 by the finance act with retrospective effect from 1st april, 1962.section 10 of the income-tax act provides that in computing the total income of previous year of any person, any ..... situation where authorities have made up their mind is illusory. similar principles have been reiterated in the case of shekar ghosh v. union of india reported in : (2007)1scc331 .20. in the instant case, this court finds that the post-decisional hearing which has been sought to be given by the revenue is more or loss ..... and who are statutorily not required to file return of income as per the provisions of section 139 are:xxx xxx xxx(v) body or authority referred to in clause (23bba).section 139(4c) was inserted by the finance act, 2002 w.e.f. 1-4-2003 requiring certain specific body or institutions such as, scientific research association, .....
Tag this Judgment!Court : Orissa
Reported in : [1991]72CompCas436(Orissa)
..... be no further curtailment of the state's power of taxation.17. in the aforesaid case, these observations were made while examining the validity of section 5(3) of the bihar finance act, 1981, which provision ran counter to what was laid down in the drug (price control) order, 1979, which had been issued by the ..... law under entry 33 of list iii which is the relevant entry relating to the essential commodities act, 1955. the provision of section 6 of the essential commodities act, was, therefore, not allowed to override the provisions of section 5(3) of the bihar finance act.18. though in hoechst pharmaceuticals' case : [1985]154itr64(sc) the apex court was concerned ..... central government under section 3(1) of the essential commodities act, 1955. the argument was that the provision of section 5(3) of the bihar finance act which stated that the surcharge in question could not be collected from the purchasers, had to yield to .....
Tag this Judgment!Court : Orissa
Reported in : AIR2008Ori88; 106(2008)CLT324; 2008(I)OLR659
..... ). in the said notification some institutions have been notified in exercise of powers conferred under sub-clause (iv) of clause (m) of sub-section (1) of section 2 of the securitization act. in the said notification maharshi housing development finance corporation ltd., new delhi has been notified as a financial institution on and from 10th november, 2003. this fact is not disputed. it is ..... in order to contend that this writ petition is not maintainable. the first judgment on which reliance was placed was in the case of a. venkatramani v. lic housing finance limited, reported in (2007) 135 company cases 514 (mad.). in that judgment reliance was placed on the observations of the learned single judge to the effect that the writ petitions are not .....
Tag this Judgment!Court : Orissa
Reported in : 1995CriLJ2417
..... accused, or from some undisclosed source. a question arose as to whether a voluntary disclosure under section 24 (2) of the finance (no. 2) act, 1965, had to relate to income actually earned by the declarant. that section granted immunity to the declarant alone and not to other persons to whom the income really belonged. ..... as the 'accused'), a public servant. it is alleged that he is guilty of offence punishable under section 13(2) of the act read with section 8(3), of the orissa special courts act, 1990 (in short, the 'special act').2. section 13, deals with various situations when a public servant can be said to have committed criminal misconduct. clause ..... it was observed by the apex court in jamnaprasad kanhaiyyalal v. cit : [1981]130itr244(sc) that the legal fiction created by section .....
Tag this Judgment!Court : Orissa
Reported in : [1991]188ITR306(Orissa)
..... transfer or not on which collateral fact the competent authority would assume jurisdiction under chapter xx-a.10. there is no doubt that section 293, as it stood prior to its amendment by the finance act of 1988, did not bar the jurisdiction of the civil court expressly in respect of an order passed under chapter xxa of the ..... and the civil court has always the jurisdiction to examine whether the tribunal has acted within its jurisdiction unless the power of the civil court is expressly taken away. since section 293 of the income-tax act, as it stood prior to its amendment by the finance act of 1988, did not specifically bar the jurisdiction of the civil court to ..... examine the validity of an order in the acquisition proceedings under chapter xxa of the income-tax act, the civil court will have the .....
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