Array
(
    [0] =>  ..... carried on prior to amalgamation, namely manufacture and sale of agricultural tractors and allied impliments.6. section 72a of the income tax act, 1961 (herein-after referred to as the act) was inserted therein by finance act no. 2 of 1977 with effect from 1.4.1978. this section enables an amalgamated company to carry forward and set off accumulated loss and ..... section 72a was introduced in the act as it will throw light on what was the mischief or situation that was intended to be remedied by its introduction as also the true concept of financial non-viability. from the budget speech of the finance minister, the notes on clauses of the finance bill (no. 2) of 1977 and the memorandum  ..... may be required under any other law.5. thereafter itci and m&m; preferred company petitions (no. 789 of 1977 by itci and no. 2 of 1978 by m&m;) in the bombay high court under secs. 391 and 394 of the companies act, 1956 seeking the court's sanction to the scheme of amalgamation ; and during the pendency  ..... 
    [1] =>  ..... defendant and that. therefore the suit is maintainable. in support of his contention tic refers to the provisions of ss. 2(l), 2(13), 119, 120, sch. i to the act and r. 2 of the notification no. 40 (chapter iv-taxation and finance). regarding the maintainability of the suit, learned counsel for the respondent refers to the provisions of s. 174 of  ..... the act as well as s. 9 of the civil p.c.9. section 2(l) reads as follows -'building' includes a house, out- .....  is submitted by the learned counsel for the respondent that since the mode of assessment as contemplated under the specific provisions of the act as well as sch. i to the act and r. 2 of the notification no. 40 was hot followed by d. w. 1. the respondent had been driven to the necessity of instituting the suit against the ..... 
    [2] =>  .....  section. that is the direction of the aac and rightly upheld by the tribunal. it would be up to the ito to act in accordance with those directions. 5. by the finance (no. 2) act, 1980, s. 80a has been inserted in the act, with retrospective effect from april 1, 1968. it is to this effect : 'where any deduction is required to be allowed under  ..... facts and in the circumstances of the case, the tribunal was right in holding that proceedings under section 147(b) of the income-tax act, 1961, were validly initiated ?' 3. so far a question nos. 1 and 2 at the instance of the department are concerned, they are directly covered by the decision of the supreme court in the case of cloth  .....  to be set off from the gross amount of dividend by reference to which the relief under s. 85a was to be given. questions nos. 1 and 2 are answered against the department. 4. so far as question no. 3 is concerned, we need not answer this question. the scheme of s. 85a was that the rebate would be given only in ..... 
    [3] =>  .....  otherwise than for adequate consideration into the total income of the individual and agricultural lands constituted assets though not capital assets in terms of section 2(14)(iii) of the act and as per provisions of the finance act, 1979, agricultural income should be aggregated with the non-agricultural income for the purpose of levying tax on non-agricultural income. he further observed that .....  income-tax should be calculated in accordance with any central act, namely, the finance act passed every year.accordingly, he confirmed the assessment orders and dismissed the appeals.4. the learned counsel for the assessee reiterated the contentions urged on behalf of the assessee before the commissioner (appeals) and relied on the board circular no. 126, dated 28-11-1973, reproduced in [1974] 93 .....  can be placed on the cases of cit v. malayala manorama & co. ltd. [1983] 143 itr 29 (ker.) and cit v. o.m.s.s. sankaralinga nadar & co. [tax case no. 1263 (mad.) of 1979 decided on 7-12-1982.]
    [4] =>  .....  (supra), directly support the department's stands though it was rendered in the context of relief under section 80j. it was further submitted that there is nothing in the finance minister's speech referred to and relied on in the tribunal's order [1967] 64 itr (st.) 101, cited on behalf of the assessee, to support the view ..... but it is pointed out that even according to cloth traders (p.) ltd.'s case (supra) there cannot be a deduction where there is no total income and the overriding effect of section 80a(2) of the act has been emphasised. it is argued that the decision of the supreme court in cambay electric supply industrial co. ltd. v. cit [1978]  ..... premier industrial drives (p.) ltd., relating to its income-tax assessment for the year 1979-80. the assessee-company claimed relief under section 80hh of the income-tax act, 1961 ('the act'), in respect of its chain division, by way of deduction as provided therein in computing its income. in the assessment made by the ito it was found that ..... 
    [5] =>  ..... or type.it may also perhaps not be out of place to mention that while in the case of the deduction under section 80m, section 80aa of the act was introduced by the finance (no. 2) act, 1980, with retrospective effect from 1-4-1968, in order to provide that only that income from dividend will be entitled to deduction under section 80m which ..... retrospective but comes into effect from 1-4-1981. the assessment year under appeal before us is 1977-78 and, therefore, the provisions of section 80ab, introduced by the finance (no. 2) act, 1980, with effect from 1-4-1981, will not apply to the assessment year under appeal before us. considering all this and the overall facts and circumstances, we have .....  on the gross amount of the income entitled to deductions under sections 80k and 80t. it was also pointed out by shri mehta that section 80ab of the act introduced by the finance (no. 2) act, 1980, with effect from 1-4-1981, laid down that any deduction required to be made under chapter via of the ..... 
    [6] =>  .....  to be real complex in nature and an assessee cannot be said to be well conversant with the provisions of the law, more so, when each year, with every finance act there are amendments and amendments and perhaps it is for this reason that as early as in the year 1942 [1955] the board vide circular ..... we have also given our due and careful consideration to the reasoning of the lower authorities.3. in the impugned order the learned commissioner (appeals) is categorical that there is no specific finding given by the ito in the assessment order as to whether the assessee-company is an industrial company or not. he is also categorical that the ito has ..... not presumably because no such claim was made either in the return of income or during the course of the assessment proceedings. the ito, accordingly, treated the company as one in which the public were not substantially interested and levied the tax at the rate of 65 per cent as applicable to a closely-held non-industrial company.2. the assessee  ..... 
    [7] =>  .....  to accept the contention of the learned counsel for the assessee to the effect that circular no. 7 of 1942 would be binding on the assessing authorities even after insertion of section 44b by the finance act, 1975.8. we, however, find that circular, no. 169, dated 23-6-1975, contains elaborate directions regarding the manner in which the assessment .....  incorporated in the united kindgom. prior to the assessment year 1976-77, the assessee was being assessed in accordance with the directions contained in circular no. 7 [c. no. 27 (17)-it/41], dated 10-2-1942-taxmanns direct taxes circular, vol. 1. 1980 edn., p. 567 issued by the cbdt. that circular allowed a british shipping company to  .....  to the assessee or to any person on his behalf on account of the carriage of passengers, livestock, mail or goods shipped at any port in india; and(ii) the amount received or deemed to be received in india by or on behalf of the assessee on account of the carriage of passengers, livestock, mail or goods  ..... 
    [8] =>  .....  co-operative milk producers union limited has moved special civil application no. 1459 of 1981 challenging the impugned act of 1981. petitioner no. 1 is the federal co-operative society registered under the principal act while petitioner no. 2 is a member of the federal society. petitioner no. 3 is a member of the executive committee and is the .....  the form of other indirect benefits such as preferential treatment accorded to the co-operatives, exemptions from the corporate tax into a certain extent and concessional finances from the various financial institutions; these are a few of the various support measures extended by the government. i say further, that the membership of a .....  gazette of the central government. 13 members of the committee were to be appointed so as to include one representative each of the education ministry, finance ministry of the union government and three members from amongst the former presidents of the society and the remaining to be the eminent members in the  ..... 
    [9] =>  ..... had to be carried to its logical conclusion. the decision in sahu rubbers private ltd.'s case : [1963]48itr464(bom) was expressly dissented from. (c) cit v. estate & finance ltd. `. here, another division bench of the bombay high court held that the decision in sahu rubbers private ltd.'s case : [1963]48itr464(bom) , did not constitute a  ..... obliged to advance funds to new era fabrics private ltd. at a rate of interest lower than that it had agreed to pay to the said utkal properties & finance private limited and directed that the difference should also be allowed as deduction. the appeals of the assessee were disposed of accordingly.13. on an application by the  ..... authority on the interpretation of section 32(2) of the i.t. act, 1961. the difference between the proviso to section 10(2)(vi) of the act of 1922 and section 32(2) of the act of 1961 was noted and. it was held that though there was no difference in phraseology, the provision in section 32(2) was not intended to be applied only ..... 
    [10] =>  ..... and over, under, or across the navigable streams or waters of the united states" is granted to it by the act of congress. this, however, is merely a permissive statute, and there is no expression in it which implies that this permission to extend its lines along roads not built nor owned by the united  .....  impose and levy reasonable duties and excises upon any produce, goods, wares, merchandise and commodities whatsoever brought into, produced, manufactured, or being within the same." 2. extracts from the public statutes of massachusetts "chapter 13, sect. 38. every corporation chartered by the commonwealth, or organized under the general laws, for purposes  ..... of intelligence by electricity shall possess the powers and privileges, and be subject to the duties, restrictions, and liabilities, prescribed in this chapter." "sect. 2. each company may, under the provisions of the following section, construct lines of electric telegraph upon and along the highways and public roads, and across any ..... 
    [11] =>  ..... -- the court should come to the result only on a solemn conviction that their oaths of office and these constitutions imperiously demand it. feeling myself no such conviction, i cannot pronounce the act void." it is to be observed that the divorce in this case was granted on the petition of the wife, who alleged certain criminal intimacies of .....  years after new york became an independent state, there was not any lawful mode of dissolving a marriage in the lifetime of the parties but by a special act of the legislature." 2 kent com. 97. the same fact is stated in numerous decisions of the highest courts of the states. thus, in cronise v. cronise, 54 penn.st ..... shall continue in this state a civil contract, to which the consent of parties, capable in law of contracting, shall be essential," "is not decisive of the question. 2 r.s. 138. this statute declares it a civil contract, as distinguished from a religious sacrament, and makes the element of consent necessary to its legal validity, but its ..... 
    [12] =>  ..... acts 1870-1871, entitled "an act to enforce article 2, section 29, of the constitution, to authorize the several counties and incorporated towns in this state to impose taxes for county and corporation purposes." this statute has been fully considered by us in the case of kelley v. town of milan, just decided, and shown to have conferred no such authority. the act .....  approved december 16, 1871, chapter 122 of the acts ..... to the board of aldermen that the people of the town of dyersburg, by a vote of 126 votes 'for subscription,' to 2 votes for 'no subscription,' have authorized the mayor and aldermen to subscribe $50,000 to the capital stock of the paducah and memphis railroad company ..... 
    [13] =>  ..... the issuance of the $12,000 in bonds to the mississippi central railroad company upon certain conditions. the returns of said election show a vote of 117 for subscription, and 2 no subscription." "w. m. mccall and w. h. algea were appointed a committee to correspond with judge milton brown, of jackson, tennessee, in regard to the proposition  ..... on which bonds shall be receivable for taxes, and all other dues to the corporation issuing the same, provided that the bonds issued under the provisions of this act shall be alone for the purpose of paying outstanding liabilities against the city or corporation issuing them, and shall not in any case exceed the unsettled and matured ..... averred that it did not make the bonds or the coupons, nor was any person authorized to make the same for it, and that the coupons were not its act and deed. the plaintiffs, for replication to the plea, averred that theretofore, in the chancery court for the county of gibson, in tennessee, the defendant instituted suit  ..... 
    [14] =>  .....  page 128 u. s. 20 the alcohol from the state in the course of lawful commerce with other states not being a crime, to perform that act was not a criminal intent, no matter when formed, whether before or after the alcohol was manufactured. it is not the criminality of the intent to export that is here the question,  .....  receipts, 15 wall. 284; munn v. illinois, 94 u. s. 113 ; chicago, burlington & quincy railroad co. v. iowa, 94 u. s. 155 ; willson v. blackbird creek marsh co., 2 pet. 245; pound v. turck, 95 u. s. 459 ; gilman v. philadelphia, 3 wall. 713; gibbons v. ogden, supra, and cooley v. board of wardens, 12 how. 299. we  ..... 1) does the statute as thus construed conflict with section 8, article i, of the constitution of the united states by undertaking to regulate commerce between the states, and (2) does it conflict with the fourteenth amendment to that constitution by depriving the owners of the distillery of their property therein without "due process of law." all of the assignments ..... 
    [15] =>  .....  a certain school lot, to caroline hawes, and the other undivided half to the two children, and an undivided third to the widow of mission block no. 2, the fifty-vara lot no. 205, and of the lands in san mateo county, and the remaining two-thirds thereof, undivided, to the children; share and share alike. the  .....  the jurisdiction of probate courts must be determined with reference to the general nature and character of the latter tribunals as recognized in our system of jurisprudence. an act of the territorial legislature giving probate courts "original jurisdiction, both civil and criminal and as well in chancery as at common law, when not prohibited by legislative .....  is a difference between distribution and partition, and we are satisfied that that difference was in the mind of the legislature when it passed the original probate act, as well as when the code of civil procedure was adopted. as correctly observed by counsel, distribution neither gives a new title to property nor transfers  ..... 
    [16] =>  ..... behalf of the county to the stock of that corporation, which was a corporation formed by the consolidation, in march, 1870 (under the above-mentioned act of march 2, 1869), of the alexandria and nebraska city railroad company, of missouri (formerly the alexandria and bloomfield railroad company), with the iowa southern railway company  .....  county bond issued in behalf of the municipal township of chillicothe. interest eight percent per annum, payable on the first days of january and july. fifteen years. no. 18." "know all men by these presents that the county of livingston, in the state of missouri, acknowledges itself indebted and firmly bound to the st.  ..... privilege of receiving the subscription passed to the consolidated company. the vote having contemplated the construction of the railroad which the consolidated company built, there was no diversion from the purpose contemplated by the vote in the fact that the stock was subscribed, and the bonds issued, to the consolidated company. the  ..... 
    [17] =>  .....  to be fixed by the court, and which if not paid, a sale of the mortgaged premises is directed." in conformity with these principles, the civil practice act of washington territory of 1873, in the chapter regulating the foreclosure of mortgages, expressly authorizes the mortgagor before the sale occurs to satisfy the judgment by paying the .....  that the purchasers would contest his right to redeem. with knowledge of that fact, and notwithstanding the refusal of the sheriff to accept his tender, he made no application to the court or judge thereof for an order requiring that officer to allow the redemption. after resting in silence from november 10, 1875, until the  .....  this view, they cite decisions of the supreme court of california construing similar statutory provisions from which, it is claimed, the statute of washington territory was copied. kent v. laffan, 2 cal. 595, (1852); harlan v. smith, 6 cal. 173, (1856); mcmillan v. richards, 9 cal. 365 (1858); gross v. fowler, 21 cal. 395 (1863). ..... 
    [18] =>  ..... . the court, however, clearly recognized the principle that it was legally possible to imply a subscription from the subsequent adoption and ratification by a full court of the act of thompson. now in the case at bar, the power to appoint an agent or commissioner is undeniable, and is not challenged. on the contrary, it is admitted ..... much relied on and quoted from by counsel for plaintiff in error, is, as a brief analysis will show, inapplicable to the controversy in the present case. an act of the kentucky legislature, passed in 1865, to incorporate the kentucky river navigation company provided in one of its sections "that the county courts of the several counties bordering .....  occasion, and with reference to no other matters, is the concurrence of the justices of the peace necessary. gen.stat.ky. c. 27, art. 3, 1; id., 306, c. 28, art. 17, 1, 2. all the powers of the court which do not come within these enumerated exceptions are exercised exclusively by the county court presided over by ..... 
    [19] =>  .....  as provided by the rules of the court. thereupon the plaintiff filed an affidavit of the marshal stating that at the time of service of the summons, there was no mayor or acting mayor of said city, and had been none since the 14th day of february, 1873, the writ being dated and issued the 3d day of march, 1873. the ..... their successors are elected and qualified." "section 7. in the event of a vacancy in the office of mayor, alderman, . . . the common council shall order a new election. . . ." "chapter 2, 2. the mayor, when present, shall preside over page 130 u. s. 305 the meetings of the common council, and shall take care that the laws of the state and the ..... ,' and acts performed by them shall have the same force and validity as if performed by the mayor." "chapter 3, 3. the common council shall have the management and control of the finances and of all the property of the city, and shall likewise, in addition to the powers herein vested in them, have full power to make, enact, ordain,  ..... 
)