Judgment Search Results Home > Cases Phrase: finance no 2 act 1977 section 6 amendment of section 11 Sorted by: old Court: delhi Page 7 of about 715 results (0.251 seconds)

In Re: Jvg Leasing (Securities and Finance) Ltd. and ors.

Court : Delhi

Reported in : [2008]144CompCas780(Delhi); (2006)2CompLJ242(Del); [2007]79SCL541(Delhi)

..... these companies were accepting fixed deposits and other borrowings from banks, corporate institutions and the public, in the year 1997 the reserve bank of india act was amended, first by issuing reserve bank of india (amendment ordinance), 1997 which was replaced by reserve bank (amendment) act 1997 and section 45-ia was introduced as per which, it became obligatory on the part of such nbfcs to obtain necessary license from the rbi in order to carry ..... that the winding up petitions are filed by the rbi under section 45mc of the act, as according to the rbi, the application for license was rejected by the rbi and, thereforee, the companies could not, in law, do a non-banking finance business and accept deposits from the public etc. ..... for determination, namely, (a) non-banking finance company which is denied license by the rbi under section 45ia of the rbi act or a company whose license is cancelled under the aforesaid provisions, has to be necessarily wound up under section 45mc of the rbi act? ..... recently the emphasis was on regulating the receipt of deposits by non-banking finance companies (nbfcs) as an adjunct to credit and monetary policies and to ..... subsequently, non-banking non-finance companies directions 1967 and miscellaneous non-banking companies (reserve bank) directions 1977 were also issued to curb the practices of certain companies whereby these companies started collecting funds from public by way of subscription to various chit or benefit schemes, a device adopted to .....

Everplus Securities and Finance Vs. Deputy Commissioner of Income Tax

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (2006)101ITD151(Delhi)

..... by the finance act, 2001, a new section 14a has been inserted so as to clarify the intention of the legislature since the inception of the it act, 1961, that no deduction can be made in respect of any expenditure incurred by an assessee in relation to income which does not form part of the total income under the act. ..... section 14a of the it act is inserted in the act by the finance act, 2001, w.e.f. ..... 5.30 section 115-o was inserted into the act by the finance act, 1997, w.e.f. ..... 5.15 section 14a of the it act inserted by the finance act, 2001, w.e.f. ..... section 14a has been inserted by the finance act, 2001, with retrospective effect from 1st april, 1962, laying down that no deduction shall be allowed in respect of the expenditure incurred by the assessee in relation to the income, which does not form part of the total income under this act. ..... to be assessed under a separate head, the payment of interest by the assessee on amounts borrowed for purposes of investments must be allowed as business expenditure the hon'ble high court considered the question in the light of the requirement of section 36(1)(iii) of the act and held that if once it is established that capital was borrowed for the purpose of business, it is immaterial how that borrowed capital was applied because all that clause (iii ..... the appellant prays that it may be permitted to add, amend or forego all or any of the above grounds of appeal.2. ..... 1977-78, when section 14a was not on the statute. .....

J.K. Synthetics Limited and anr. Vs. Union of India (Uoi) and ors.

Court : Delhi

Reported in : 138(2007)DLT660; 2006(204)ELT369(Del)

..... relevant because that decision is a case relating to landing charges and has nothing to do with the question as to whether transportation charges for transporting the goods from the mother ship by barge to the place approved under section 8(a) has to be added for the purpose of valuation of the goods for imposing custom duty.since the present case stands fully covered by the decision in garden silk mills limited the decision ispat industries can ..... since we are not inclined to accept the contention of the petitioner that the notification dated 23.4.1980 as amended by the notification dated 5.6.1982 constituted a promise, there is no need to examine the further contention that the central government had to show a public interest justification for resiling from such alleged 'promise'. ..... 102 cus dated 1.7.1977 the central government, in exercise of its powers under section 25 of the customs act, 1962 ('act'), exempted dmt when imported into india from customs duty in excess of 100% ad valorem. ..... in other words, it can include a special duty of excise payable in terms of the finance act. 19. ..... in addition to the basic excise duty, a special excise duty at 5% of the 15% basic excise duty was payable by virtue of the finance act 1982 read with notification no. .....

Grasim Industries Ltd. Vs. Union of India (Uoi) and ors.

Court : Delhi

Reported in : 2009(93)DRJ217

..... at the outset it requires to be noticed that claim for higher investment allowance is made by the petitioner under section 32a(2b) of the act, which was introduced with effect from 1.4.1978 and which reads as under:(2b) where any new machinery or plant is installed after the 30th day of the june, 1977 but before the 1st day of april, 1987 for the purposes of business of manufacture or production of any article or thing and such article or thing-a) is manufactured or produced ..... by using any technology(including any process) or other know how developed in, or b) is an article or thing invented, in a laboratory owned or financed by the government or a laboratory owned by a public section company or a university or by an institution recognised in this behalf by the prescribed authority, the provisions of sub.section(1) shall have effect in relation to such machinery or plant as if for the words 'thirty five per cent' had been substituted, if the following conditions are fulfilled ..... 293-294/1992 293-294/1992 ] seeking to amend the writ petition to include a challenge to a letter dated 20.2.1982 whereby the senior scientific officer of respondent no. ..... in any event, this court did not entertain the plea for amendment of the writ petition to challenge the said letter dated 20.2.1982 which holds that the petitioner did not comply with the primary condition that the plant and machinery had to be installed after 30.6.1977. .....

Ms. Madhushree Gupta Vs. Union of India (Uoi) and anr.

Court : Delhi

Reported in : (2009)225CTR(Del)1; [2009]317ITR107(Delhi); [2009]183TAXMAN100(Delhi)

..... it is important to note that these provisions of section 271(1)(c) remain insulated from the amendment brought about by the finance act, 2008 whereby the impugned provision, that is, section 271(1b) was inserted.11.1 the reasons for bringing about the amendment is contained both in the memorandum and in clause 48 of notes on clauses. ..... sub-section (2) of section 30 or section 148 or has without reasonable cause failed to furnish it within the time allowed and in the manner required by sub-section (1) of section 139 or by such notice, as the case may be, or(b) has without reasonable cause failed to comply with a notice under sub-section (1) of section 142 of sub-section (2) of section 143, or(c) has concealed the particulars of his income or deliberately furnished inaccurate particulars of such income, he may direct that such person shall pay by way of penalty.7.3 interestingly, by the finance act, 1964 ..... a writ of certiorari or writ, order of direction in the nature of certiorari, or any other appropriate writ, order or direction under article 226/227 of the constitution of india quashing sub-section (1b) to section 271 inserted by finance act, 2008 as arbitrary, ultra virus and violative of article 14 of the constitution of india.b. ..... 7.4 thereafter, there were amendments made in 1971, 1974, 1975, 1977 and 1984. ..... biswanath jhunjhunwala; : air 1977 sc 357 at page 360 paragraph 13 and additional commissioner v. .....

Sh. Satyendra Kumar Vs. M/S. Mik Finance and Chit Fund (P) Ltd. and or ...

Court : Delhi

..... be waived and thus the fact that merely because the auction sale proceedings have taken place in violation of the interim order dated 31.5.2004 in the suit filed by respondent no.2 against the finance company and others, would not mean that auction sale proceedings can be set aside. 3. ..... the respondent no.2 thereafter filed objections in such execution under order 21 rule 90 read with section 151 cpc (the same would also be under the relevant provisions from order 21(97) to order 21(106) cpc) for setting aside the auction sale proceedings and which auction sale ..... the legislature has inserted different provisions, and amended some of the existing provisions, laying down the procedure from the provisions of order 21 rule 97 to order 21 rule 106 cpc and as per which detailed procedure objections in execution by a person who ..... shall on or before 10.7.2011 file its objections to the execution and the auction sale proceedings and which will be treated as amended objections to the objection petition already filed. ..... no.2 states that he should be permitted to file comprehensive objections including to the auction sale proceedings and which i find to be a very reasonable request inasmuch as like a suit plaint can be amended, surely, objections which have to be dealt with like a suit can also be amended. ..... 1.2.1977 by act no.104 of 1976 whereby all questions as to title of a property which is sold in execution of a decree have to be decided in the execution proceedings itself and not by means .....

Director of Income Tax Vs. Ericsson A.B.,new Delhi

Court : Delhi

..... . according to the assessee, the judgment of the supreme court in the case of ishikawajima insofar as it deals with the taxability of the offshore supplies is in no manner affected by the amendment made to section 9 by the finance act, 2010 as it only impacts the issue as to when income ita 504/2007, ita 507/2007, ita 508/2007,ita 511/2007, ita 397/2007 page 72 of 75 by way of fee for technical services can be ..... commissioner of income-tax (ita 3021/2005 and other connected matters decided on 16.3.2009) the legislature once again amended the explanation below section 9 by the finance act, 2010 with retrospective effect from 1st june, 1976..63 ..... vide finance act, 2010 the following amendment was made to sub-section (2) of section 9:- "explanation- for the removal of doubts, it is hereby declared that for the purposes of this section, income of a non-resident shall be deemed to accrue or arise in india under clause (v) or clause (vi) or clause (vii) of sub section (1) and shall be included in the total income of the non-resident, whether or not,- (i) the non- resident has a residence or place of business or business connection in india; or (ii) the non-resident has rendered services ..... . this amendment will take effect, retrospectively, from 1st june, 1976 and will, accordingly, apply in relation to the assessment year 1977-78 and ..... . this amendment is proposed to take effect retrospectively from 1st june, 1976 and will, accordingly, apply in relation to the assessment year 1977-78 and .....

M/s. Sai Nath Enterprises Vs. North Delhi Municipal Corporation and An ...

Court : Delhi

..... the persons suing in the name of the firm should be partners at the time of the accruing of the cause of action, and, therefore, the same meaning should be given to the words persons suing in section 69 (2) of the partnership act, 1932, and the persons suing in requirement (b) therein means the person who were partners at the time of the accruing of the cause of action and not on the date of the institution of the ..... that in order to cover their malafide conduct, the plaintiffs in january, 2015 filed two applications under order vi rule 17 read with section 151 cpc for amendment of plaint in both the matters along with fresh application for injunction. 42. ..... be to enable a party to rush to this court post haste without making a full disclosure of all the facts within its knowledge and to subsequently seek incorporation of the said facts in the plaint by way of amendment while in the meantime continuing to enjoy the ex parte order obtained by it fraudulently and dishonestly ..... . in fact it was a case where the suit was filed by a firm alone and an amendment was sought to strike out the name of the plaintiff firm and instead names of the five partners may ..... received the said documents only on 14th november, 2014, and the defendants are primarily opposing the suit on the basis of the said documents, it becomes necessary for the plaintiffs to suitably amend the plaint, and which amendment the plaintiffs are seeking by filing separate application. 36. ..... 1977 (1) scc 379, shreeram finance .....

Bharat Bhushan Jain vs.the State & Ors

Court : Delhi

..... dated 22.01.1991 reference was made by the learned single judge to a larger bench on the issue if the petitioner, a society registered under the societies act, 1860 was prohibited from obtaining letters of administration under section 236 of the indian succession act, 1925, division bench of this court held vide order dated 17.08.2001 that the society was entitled to obtain letters of administration. ..... the present petition under section 276 of the indian succession act, 1925 has been preferred by jain society for the protection of orphans for india, darya ganj, new delhi (hereinafter referred as the petitioner ) for grant of letters of administration in respect of will dated 15.10.1977 executed by late ratan ..... prasad jain) mool chand jain s son informed in the cross-examination that the will in question remained with sumat parshad jain only after its execution on 15.10.1977; it was handed over by sumat parshad jain to chakresh kumar jain in his presence in 1986. ..... compliance of the said orders, bharat bhushan jain, the finance secretary of the society was permitted to proceed with the ..... it was held that the society would amend the petition for grant of letters of administration and nominate one of its office bearers to whom letters of administration ..... the respondents examined rw-1 (deepak jain) & rw-2 (a.p.gupta) attesting witnesses to the will dated 26.11.1977, rw-3 (ashok kashyap), hand writing expert; r2(d)w-1 (ratan lal jain), rw-2(b) (mukesh kumari jain @ mukta jain) and d2w1 .....

All India Idbi Officers Association Through Its General Secretary vs.u ...

Court : Delhi

..... has been in continuous service for not less than one year in that undertaking immediately before such transfer shall be entitled to notice and compensation in accordance with the provisions of section 25f, as if the workman had been retrenched: provided that nothing in this section shall apply to a workman in any case where there has been a change of employers by reason of the transfer, if- (a) the service of the workman has not been ..... any municipality in a state; (d) debentures or other securities for money issued by any authority constituted under any housing or building scheme approved by the central or a state government, or by any authority or body constituted by any central act or act of a state legislature; (e) first mortgages on immoveable property situated in india under any housing or building scheme of the insurer approved by the authority or a state government; (f) debentures secured by a first charge on any immoveable property ..... (q) fixed deposits with banks included for the time being in the second schedule to the reserve bank of india act, 1934 (2 of 1934) or with co-operative societies registered under the indian co-operative societies act, 1912 (6 of 1912), or under any other law for the time being in force, the primary object of which is to finance other co- operative societies similarly registered; (r) debentures of, or shares in co-operative societies registered under the indian co- ..... recommended certain amendments which were ..... in the year 1977, the development .....