Judgment Search Results Home > Cases Phrase: finance no 2 act 2004 Court: andhra pradesh Page 14 of about 644 results (0.105 seconds)

Asmitha Microfin Limited (Asmitha)

Court : Andhra Pradesh

..... view of the environment created by the operation of the provisions of the andhra pradesh micro finance institutions (regulation of money lending) act, 2010, the petitioner company proposed a corporate debt restructuring package (cdr) to its lenders ..... as a part of the scheme, 57,45,71,293 occrps issued by share to its cdr lenders under the share master restructuring agreement representing 89.2004% of the total outstanding occrps issued by share shall be cancelled and on such cancellation the cancelled capital will be moved to the securities premium account and/or capital reserve account in the balance sheet ..... to 104 of the companies act: in the present case, there is no dispute that the due procedure as prescribed under the companies act has been complied with in reference to reduction in capital as referred to and relied on in the present petition and necessary orders dispensing with the various procedures have been granted by the court by order, which is reflected in the minutes of the order dated february 13, 2004. ..... in larson and toubro limited s case (2004) 121 compcas 523(bom), the high court of bombay while dealing with the objection relating to the reduction of capital held that a combined petition for sanction of a scheme of arrangement and reduction of share capital ..... * share * 89.2004% of the total outstanding occrps issued by share to be cancelled (note corresponding occrps being issued in asmitha) * 5.7996% of the total outstanding occrps issued by share to be converted to .....

Mirza Ramza Ali Vs. Commissioner, Prohibition and Excise and anr.

Court : Andhra Pradesh

Reported in : 2003(3)ALD700; 2003(3)ALT562; 2003CriLJ3613

..... sanat kumar, : air1968cal564 , it was observed as under:............in case of any transfer of any ownership in respect of that motor vehicle, the procedure is contemplated under section 31 of the motor vehicles act, and till any such transfer of ownership is entered in the certificate of registration, one has to take it that the person in whose favour such a certificate of registration is issued by the motor transport authorities is the ..... things liable to confiscation :--without prejudice to the powers of the excise officers under section 46 of the andhra pradesh excise act, 1968, in any case in which an offence has been committed against this act, the liquor by means of which the offence has been committed shall be liable to confiscation along with the receptacles, packages, coverings, animals, vessels, carts or other vehicles used to hold ..... for resolving the controversy as to who is the owner of the vehicle which was financed by a finance company and covered by hire purchase agreement, it is necessary to refer to certain provisions ..... in those circumstances it would be ordinarily prudent and in consonance with the provisions of the motor vehicles act, to allow such a motor vehicle to remain in possession of such a person in whose name the ..... motor vehicle is subject matter of hire purchase agreement, the person in possession of the vehicle under the agreement alone can be treated as owner of the vehicle and not the financier who financed for the purchase of the vehicle.11. ..... finance .....

Balbir Thomas Vs. Centre for Cellular and Molecular Biology, Hyderabad ...

Court : Andhra Pradesh

Reported in : AIR1997AP167; 1997(2)ALT39

..... may terminate the membership will notestablish anything more than the fact that the government takes special care that the promotion, guidance and co-operation of scientific and industrial research, the institution and financing of specific researches, establishment or development and assistance to special institutions or departments of the existing institutions for scientific study of problem affecting particular industry in a trade, the utilisation of the result ..... the court did not rest its conclusion on the ground that the council was a society registered under the societies registration act, 1860, but proceeded to consider various other features of the council for arriving at the conclusion that it was not an agency of the government ..... of the stock exchange and the scheme of the securities contracts (regulation), act, 1956 and the incorporation of the rules of the association of the exchange which were framed with the approval of sebi, it was held that, the public duty is imposed on the exchange to act fairly and reasonably and within the rules/byelaws framed by it. ..... supreme court in catena of decisions that merely because the organisation is registered under the societies registration act, it cannot be said that the organisation is not a state falling under art. ..... and contended that this decision laid down in no uncertain terms that a society registered under the societies registration act, 1860 can never be regarded as an 'authority' within the meaning of art. 12. .....

Commissioner of Income-tax Vs. Ampro Food Products

Court : Andhra Pradesh

Reported in : 1995(2)ALT843; (1995)125CTR(AP)341; [1995]215ITR904(AP)

..... - in order to place a curb on extravagant and socially wasteful expenditure on advertisement, publicity and sales promotion at the cost of the exchequer, the finance act has inserted new sub-section (3a) in section 37 of the income-tax act for the disallowance of a part of such expenditure in the computation of taxable profits. ..... we shall now refer to the speech of the finance minister made at the time of the introduction of the bill of the finance act, 1978, which is reported in [1978] 111 itr 85. ..... thus, it appears to us that by the scheme introduced under the finance act, 1978, where the expenditure of newly established industry relates to advertisement, publicity or sales promotion, the whole of it is deductible as permissible expenditure for three years from the date of establishment but from the fourth year, the ..... sub-sections (3a), (3b), (3c) and (3d) of section 37 of the act were inserted by the finance act, 1978, with effect from april 1, 1979. ..... the scheme introduced by the finance act, 1978, restricts admissibility of aggregate expenditure incurred by an assessee on advertisement, publicity and sales promotion ..... ratnakar, learned counsel for the assessee, brought to our notice the speech of the finance minister and has contended that the expenditure to be treated as falling within the meaning of sub-section (3a) of section 37 of the act, should be extravagant and wasteful expenditure and that the other expenditure could not be treated as expenditure on 'sales promotion'. 5 .....

Leaap Forwarders (P) Ltd. Vs. Commissioner of Central Excise and Custo ...

Court : Andhra Pradesh

Reported in : 2001(3)ALD216; 2001(3)ALT131; 2001(135)ELT58(AP)

..... any matter to which he, as officer of the department of customs gave personal consideration, or as to the facts of which he gained knowledge, while in government service; (d) advise his client to comply with (he provisions of the act and in case of non-compliance, shall bring the matter to the notice of the assistant commissioner of customs or deputy commissioner of customs; (e) exercise due diligence to ascertain the correctness of any information which he imparts to a ..... counsel for the petitioner, would contend that the impugned public notice is issued by the commissioner without any authority or power and is liable to be set aside; the provisions of the customs act, 1962 (the act, for brevity) do not lay down the stipulations or conditions on either the means of transport or custodians to be incharge of the transport; the central board of excise and customs (cbec, ..... the learned senior standing counsel would point out that in exercise of the power conferred under section 45 of the act, the government of india, ministry of finance, department of revenue, cbec, have issued standard set of guidelines for appointment of custodians of epz's/icdvcfs's vide circular no.128/95 dated 14-8-1994 and in this circular, the ..... the learned counsel would also contend that the petitioner-company has current licence valid upto 25-11-2004 and, therefore, it has invested huge sums of money into the business in building a net work of transporters and since the petitioner-company possesses a valid ..... 2004 .....

Mohd. Javeed S/O Mohd. Afzal Vs. Union of India (Uoi) (Ministry of Sur ...

Court : Andhra Pradesh

Reported in : 2009(1)ALT507

..... effected without the consent of the owner of the vehicle, is evident from the fact that sub-section (5) of section 52 of the motor vehicles act, clearly states that no person holding a vehicle under a hire-purchase agreement shall make any alteration to the vehicle except with the written consent of ..... thereafter, the petitioner submitted application for issuance of permanent certificate of registration, and he produced letter dated 23.10.2007, issued by icici bank, which financed the vehicle, stating that they have no objection to the replacement of the chasis, as also the letter dated 20.11.2007, addressed by the manufacturer to the road ..... accord to make unlawful gain or create another vehicle, but was done by the manufacturer with the approval of the insurance company and the bank which financed it, which approval was granted taking into consideration the fact that the chasis was completely damaged in the accident. ..... vehicle, and that the chasis of the vehicle was replaced without the permission of the respondents, the fact remains, sub-section (3) of section 52 of the motor vehicles act, 1988 enables the owner of the vehicle to replace the engine of the vehicle, but the factum of replacement has to be reported to the authority within 14 days. in a. ..... since the company, which manufactured the vehicle, the bank which financed the vehicle and the insurance company which insured the vehicle, had no objection to the replacement of chasis, and the replacement of chasis, having .....

Mohd. NizamuddIn Vs. Shri Shakti Lpg Ltd.

Court : Andhra Pradesh

Reported in : 2003(5)ALD579; 2003(5)ALT590; I(2004)BC79; (2003)4CompLJ408(AP); [2003]46SCL561(AP)

..... the proceedings for winding up of the company, could not be stayed; (ii) a view to the contrary, if taken, would defeat the ends of justice and make the petitions under the companies act, infructuous inasmuch as any unscrupulous litigant, after suffering an order of winding up, might approach the board merely by filing a petition and consequently get the proceedings in the company case stayed; (iii ..... under implementation or where an appeal under section 25 relating to an industrial company is pending, then, notwithstanding anything contained in the companies act, 1956 (1 of 1956), or any other law or the memorandum and articles of association of the industrial company or any other instrument having effect under the said act or other law, no proceedings for the winding up of the industrial company or for execution, distress or the like against any ..... of submission of reference under section 15, an inquiry shall be deemed to have been commenced for the purposes of section 22 of the act.contention (ii) of the respondent may be justified and having substance but in view of the language of sections 15 and 16 of the act particularly the explanation to section 15, the supreme court has no option but to adhere to its earlier decision in real value appliances, ..... essential requisites need be satisfied before a company seeking industrial finance and rehabilitation from the board under the provisions of sick industrial companies (special provision) act, (1 of 1985) for short 'sica', are that .....

Anantha Kondayya Setty and anr. Vs. Commissioner, Kurnool Municipality ...

Court : Andhra Pradesh

Reported in : AIR1963AP379

..... that the said provision shall apply subject to such modifications and restrictions as may be prescribed'.the argument raised by the learned counsel is that section 78(3) of the district municipalities act requires that there should be a resolution of the municipal council specifying the rate at which any such tax shall be levied and the date from which it shall be levied, that since in this ..... here consider further whether the clause in question is a discriminating provision and as such it infringes article 14 or whether it is only the particular act performed by the executive authority that could form the subject-matter of challenge as the matter can be disposed of on a short ground.9. ..... petitioner is that the municipality has not acted as required by section 5, which says:'save as otherwise provided in this act, all the provisions of the relevant municipal act and the rules made thereunder relating to the assessment or realisation of property tax or in any matter connected wherewith (including exemption from assessment) shall apply to the assessment and realisation of the surcharge levied under this act: provided that the government may direct ..... another point presented by the learned counsel for the petitioner is that section 4 of the act is obnoxious to article 14 of the constitution in that it confers upon the executive authority unregulated discretion to choose any one of the buildings ..... rule 10 of the taxation and finance rules is equally untenable. .....

Bhikajee Dadabhai and Company Vs. Commissioner of Income Tax

Court : Andhra Pradesh

Reported in : [1958]33ITR760(AP)

..... having regard to the nature of the last question and the order of the income-tax appellate tribunal dated december 17, 1953, under which it was held that section 40 of the hyderabad income-tax act ceased to have effect by virtue of section 13(1) of the indian finance act, the remedy of assessee being elsewhere, the assessee has also filed an application for the issue of a writ of certiorari quashing the order of the income-tax officer imposing penalty as being ..... an appeal against that order, the process of reasoning of the income-tax appellate tribunal comes to this : namely, that having regard to the fact that section 40 of the hyderabad income-tax act relating to the levy of penalty not having been saved by section 13 of the finance act, the income-tax officer had no jurisdiction to levy any penalty and since he has no jurisdiction to levy penalty there could have been no appeal to the appellate assistant commissioner. ..... , it is not as if the legislature was not unaware of the provisions relating to penalty, because in sub-section (20 of section 13 of the finance act itself, while repealing any law corresponding to the laws specified in section 11, viz. ..... in order to determine this question we must refer to section 13(1) of the indian finance act, 1950 (xxv of 1950), which is as follows :'if immediately before the 1st day of april, 1950, there is in force in any part b state other than jammu and kashmir or in manipur, tripura, or vindhya pradesh or in the merged territory of .....

Cil Securities Ltd., Hyd. Vs. Commissioner of Income Tax, A.P. and Ano ...

Court : Andhra Pradesh

Reported in : 2000(4)ALD69; 2000(2)ALT541; (2000)161CTR(AP)44; [2000]242ITR472(AP)

..... department that the scheme-1998 is applicable to a person, who is in arrears of tax by 31-3-1998 and on the date of declaration and in the instant case, the refund due under income tax act to the tune of rs.2.59,445/- was already adjusted before 31-3-1998 against the interest tax due and the said adjustment was never challenged, and therefore, the scheme is not applicable to the case of the ..... petitioner filed a declaration on 29-12-1998 under section 89 of the finance act to avail of kvs scheme in respect of the interest tax determined ..... any illegality of the order of the commissioner of income tax dated 10-2-1999, as there are no tax arrears remaining unpaid on the date of declaration as required under section 87(m) of finance act, 1998. ..... order informed the petitioner that the declaration filed by him is lodged as there are no tax arrears remaining unpaid on the date of declaration as required under section 87(m) of finance (no.2) act, 1998.3. ..... the contention of the learned counsel for the petitioner that the disputed tax under the interest 'fax act is adjusted under section 245 of the income tax act without giving any notice is not well founded as the set off of the refundable amount against the tax remaining unpaid cannot ..... the petitioner's learned counsel submits that consequent to the assessment orders issued under income tax act for the assessment year 1997-98, an amount of rs.5,67,4477- was found refundable for the income tax assessment year 1997-98 and the same was adjusted .....