Court : Gujarat
Reported in : [1995]214ITR453(Guj)
Rajesh Balia, J.1. This petition is preferred by the Gujarat Tractor Corporation Ltd. The petitioner is a Government company, Hindustan Tractors Ltd., and was taken over by the Central Government under the provisions of the Hindustan Tractors Ltd. (Acquisition and Transfer of Undertakings) Act, 1978. With effect from the appointed day, i.e., April 1, 1978, the undertaking of the company, namely, the Hindustan Tractors Ltd., and its right, title and interest in relation to its undertakings stood transferred and vested in the Central Government under section 3 of the Act. As per the provisions of section 4 of the Act, the whole assets, rights, leaseholds, powers, authorities and privileges, and all the property, movable and immovable, including lands, buildings, workshops, stores, instruments, machinery and equipment, bank balances, cash balances, cash on hand, reserve funds, investments and book debts and all other rights and interests in, or arising out of, such property as were immedi...
Tag this Judgment!Court : Rajasthan
Reported in : [1986]160ITR952(Raj); 1985(2)WLN142
S.K. Mal Lodha, J.1. This reference has been made by the Income-tax Appellate Tribunal, Jaipur Bench, Jaipur ('the Tribunal' herein), at the instance of the Commissioner of Income-tax, Jodhpur. The Tribunal has referred the following question of law arising out of its order dated December 10, 1979, passed in ITA No. 764/JP/1978-79 :'Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the expenditure of Rs. 11,039 incurred by the assessee on the tour of its managing director to the U.S.A. was allowable as revenue expenditure '2. The assessee (non-petitioner) is a private limited company. It derives income from selling tractors, luna mopeds, godrej steel furniture, etc. For the assessment year 1976-77, the assessee incurred an expenditure of Rs. 11,039 on the foreign tour of the managing director, Shri P.S. Murdia. The case of the assessee is that the tour was undertaken to the U.S.A. mainly on the following two grounds :' 1. To take dir...
Tag this Judgment!Court : Andhra Pradesh
Reported in : 2005(4)ALD582; 2005(4)ALT327; [2005]126CompCas708(AP); [2005]63SCL339(AP)
ORDERGoda Raghuram, J.1. Heard - Sri E. Manohar, Sri J.V. Suryanarayana, Senior Advocates, Sri D.V. Bhadram, Sri K.V. Satyanarayana, Sri Badri Premnath, Advocates for the several petitioners/appellants; learned Advocate General for the State of Andhra Pradesh; Sri Nooti Ram Mohan Rao, Sri Ashok Anand Kumar, Sri K. Gopala Krishna Murthy, Advocates for the several Co-operative Banks and Sri M. Ratna Reddy, Advocate for the Union of India.2. The several writ petitions were filed at various stages of proceedings before the authorities of the Registration Department of the State. All the writ petitioners had obtained loans or Overdraft facility from the respective Co-operative Banks in sums exceeding Rupees ten lakhs each. In every instance there was a default in the repayment of the instalments or the loan amount and consequently a violation of the terms of the loan agreement. The lending Co-operative Banks had initiated proceedings for recovery of the dues under the provisions of the Andh...
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1988SC1369; [1988]64CompCas358(SC); JT1988(2)SC167; (1988)IILLJ423aSC; (1988)3SCC105; [1988]3SCR662; 1988(2)LC10(SC)
N.D. Ojha, J.1. These appeals raise an identical question and are as such being decided by a common judgment. Before coming to the question involved in these appeals it would be necessary to give in brief the facts of each of these cases to indicate the circumstances in which the said question arises. Civil Appeal Nos. 4291-4292 of 1984 have been preferred against the judgment dated 18th April, 1984 of the Madras High Court in Writ Appeal Nos. 561 and 562 of 1983. C.V. Raman, the appellant in these two appeals was an employee in the Bank of India which is a Nationalised Bank. He was dismissed from service in pursuance of disciplinary action for certain charges framed against him. Aggrieved, he preferred an appeal under Section 41(2) of the Tamil Nadu Shops and Establishments Act, 1947 (hereinafter referred to as the Tamil Nadu Shops Act). A preliminary objection was raised on behalf of the Bank of India to the effect that the Tamil Nadu Shops Act was not applicable to the Bank in view ...
Tag this Judgment!Court : Delhi
Reported in : [1987]61CompCas153(Delhi); [1987(54)FLR261]; (1986)IILLJ354Del
H.L. Anand, J. 1. This petition article 226 of the Constitution by a former general manager of the U.K. branches of a nationalised bank, concurrently in-charge of its European operations, assails the purported termination of his service by the Bank on the ground of 'loss of confidence' in him, as a sequel to and as part of a shake up in the higher echelons of the Bank in the wake of the largest bankruptcy of an Asian business house in the U. K., and failure of certain other accounts, allegedly exposing the Bank to the risk of loss of millions of pounds, and raises some interesting, as indeed, difficult questions of law, in relation to service in public sector, as indeed, interaction between the principles of industrial jurisprudence and administrative law following recent constitutional developments in the treatment of public sector undertaking as instrumentalities of the State under article 12 of the Constitution. Some of the questions that the petition raises are perhaps not appropri...
Tag this Judgment!Court : Chennai
Reported in : [1985]57CompCas126(Mad); (1984)IILLJ34Mad
Mohan, J.1. An important question arising in this batch of cases is whether the Tamil Nadu Shops and Establishments Act, 1947 (hereinafter referred to as the Shops Act), is applicable to the Nationalised Banks and to the State Bank of India. 2. We would first note the facts leading to Writ Appeals Nos. 561 and 562 of 1983. They arise out of Writ Petitions Nos. 2013 and 2014 of 1979. Writ Petition No. 2013 of 1979 is for a mandamus to direct the first respondent to dispense of the preliminary objection raised by the Management of the Bank of India, Regional Office, Southern Region, represented by the Assistant General Manger, Madras, in regard to the maintainability of T.S.E. Case No. 49 of 1875, of the file of the Second Additional Commissioner for Workmen's Compensation, Madras, in the appeal preferred by the employee, C. V. Raman, under section 41 of the Act. 3. Writ Petition No. 2014 of 1979 is for prohibition to prohibit the Additional Commissioner from proceeding to take up for pr...
Tag this Judgment!Court : Gujarat
Reported in : (1979)GLR413; (1979)0GLR413; [1979]118ITR134(Guj)
B.K. Mehta, J.1. These two appeals under s. 269H of the I.T. Act, 1961, at the instance of the Commissioner of Income-tax, Gujarat-II, Ahmedabad, are directed against the common order of the Income-tax Appellate Tribunal, Ahmedabad Bench, Ahmedabad of July 25, 1975, allowing the two appeals filed by the respective respondent-transferees herein from the order of the IAC of Income-tax, Acquisition Range-II, Ahmedabad, passed on January 16, 1975, acquiring two industrial sheds of type-A bearing block Nos. 1/3 and 1/4 situate in the industrial estate set up by the Baroda Industrial Development Corporation (hereinafter referred to as BIDCO' for the sake of convenience) under s. 269F(6) of the aforesaid Act as the fair market value of the respective sheds exceeded the apparent consideration in the respective instruments of transfer of February 5, 1973, and had not been truly stated with the ulterior object of tax evasion and/or facilitating concealment of income or assets. Since the question...
Tag this Judgment!Court : Chennai
Reported in : (1985)2MLJ439
ORDERMohan, J.1. An important question arising in this batch of cases is, whether the Tamil Nadu Shops and Establishments Act, 1947 (hereinafter referred to as the Shops Act) is applicable to the Nationalised Banks and to the State Bank of Indian.2. We would first note the facts; relating to W.A. Nos. 561 and 562 of 1983. They arise out of W.P. Nos. 2013 and 2014 of 1979. W.P. No. 2013 of 1979 is for mandamus to direct the first respondent to dispose of the preliminary objection raised by the Management of Bank of India, Regional Office, Southern Region, represented by the Assistant General Manager, Madras, in regard to the maintainability of T.S.E. Case No. 49 of 1975 on the file of the Additional Commissioner for Workmen's Compensation, II, Madras, in the appeal preferred by the employee, C.V. Raman under Section 41 of the Act. W.P. No. 2014 of 1979 is for prohibition to prohibit the Additional Commissioner from proceeding to take up for disposal T.S.E. Case No. 49 of 1975.3. The emp...
Tag this Judgment!Court : Supreme Court of India
REPORTABLE IN THE SUPREME COURT OF INDIA CIVIL APPELLATE JURISDICTION CIVIL APPEAL No.4476 OF2019(Arising out of Special Leave Petition (Civil) No.4210 of 2018) 63 MOONS TECHNOLOGIES LTD. (FORMERLY KNOWN AS FINANCIAL TECHNOLOGIES INDIA LTD.) & ORS. APPELLANT VERSUS UNION OF INDIA & ORS. RESPONDENT CIVIL APPEAL No.4478 OF2019(Arising out of Special Leave Petition (Civil) No.4652 of 2018) CIVIL APPEAL No.4477 OF2019(Arising out of Special Leave Petition (Civil) No.4239 of 2018) CIVIL APPEAL No.4479 OF2019(Arising out of Special Leave Petition (Civil) No.4659 of 2018) CIVIL APPEAL No.4481 OF2019(Arising out of Special Leave Petition (Civil) No.4816 of 2018) WITH WITH WITH WITH WITH CIVIL APPEAL No.4480 OF2019(Arising out of Special Leave Petition (Civil) No.4720 of 2018) WRIT PETITION (CIVIL) NO.368 OF2019WITH1JUDGMENT R.F. NARIMAN, J.1.2. Leave granted. This batch of appeals and writ petition raises questions as to the applicability and construction of Section 396 of the Companies Act,...
Tag this Judgment!Court : Andhra Pradesh
Common Order C.P. Nos.172 of 2010 and batch are filed, under Section 433 (e) read with Section 434 and 439 of the Companies Act, 1956, seeking winding up of the respondent company. The petitioners are all individuals who had sought allotment of flats in an apartment complex known as “Hill County” situated at Bachupally village, Qutubullapur Mandal, Rangareddy District. Agreements of sale were entered into, between the petitioners and the respondent, during the years 2006 to 2008. All the petitioners herein have admittedly paid a substantial part of the sale consideration running into several lakhs each. All of them also claim to have terminated the agreements of sale in accordance with the conditions stipulated therein. The respondent is a company incorporated under the Companies Act with its registered office at Hyderabad. Its authorized share capital is Rs.75 Crores divided into 75 lakh equity shares of Rs.100/- each. Its paid up capital is said to be Rupees Five lakhs co...
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