Court : Karnataka
..... interest which the person who had used those funds would have earned by investing the said fund. 20 while section 2(24) of the income tax act, 1961 defines 'income', section 2(28a) of the said act defines 'interest' as under:"2(24): interest means interest payable in any manner in respect of any moneys borrowed or debt incurred (including a ..... long the case is pending, permanent injuries suffered by the victim, enormity of suffering, loss of future income, loss of enjoyment of life etc., into consideration. no rate of interest is fixed under section 171 of the motor vehicles act, 1988. varying rates of interest are being awarded by tribunals, high courts and the supreme court. interest ..... appointment letter which is marked as ex.p31. basing on the said evidence, the tribunal took the income of the deceased as rs.31,798/- per month. also the tribunal has deducted a sum of rs.200/- toward professional tax. adding 40% towards future prospects in the light of the decision of the hon'ble apex .....
Tag this Judgment!Court : Karnataka
..... is a service as defined under clause - 24 - wa no.856 of 2022 (44) of section 66b of the 1994 act and therefore, the income accruing therefrom is liable to service tax. learned sr. advocate representing the university repels this submission contending that the statutory activities of an entity that lack commercial elements do ..... , fine, penalty and the like; and (ii) it holds that under the extant exemption notifications, the university is not immune from the levy of service tax on the income earned by leasing/licensing its immovable properties for providing or causing to be provided certain canteen facilities to the students, faculty & staff. [2]. the appellant- ..... not within the tax net because of negative list. however, the income earned by the university by any other activity like renting out buildings, etc. is within the taxability, unless the same falls in the exemption notifications issued by the central government u/s.93 of the act. viii. as to taxability of income from affiliation .....
Tag this Judgment!Court : Karnataka
..... an agriculturist by profession. it is stated that, from the said agriculture, the complainant gets income of rupees seven to eight lakhs per year. even the children of the complainant are also doing agriculture. he is not an income tax assesse. he has studied upto 10th standard. according to him, the sister of the complainant ..... judgment of this court as well the judgments of the hon'ble apex court, where these aspects have been considered and elaborated.37. chapter -xiii of ni act 1881 contains a heading, "special rules of evidence" section 118 provides for presumption as to negotiable instruments. it reads as under:"118. presumptions as to negotiable ..... complainant-appellant being aggrieved by the judgment of acquittal of accused- respondent for the offence punishable under section 138 of the negotiable instrument (in short `the act') passed in c.c.no.4696 of 2010 dated 20th november 2014 by the xxiii additional chief metropolitan magistrate, nrupathunga road, bengaluru city.2. parties to .....
Tag this Judgment!Court : Karnataka
..... ignored by learned trial magistrate and learned judge in the first appellate court and therefore, the order of conviction is improper.25. he further argued that the income tax returns filed by the complainant would go to show that he has lent money to several persons and admittedly, not holding any money lending license and therefore, ..... lending business without licence debars a person from doing money lending and recovering the amount through court. as per explanation to section 138 of the negotiable instruments act "debt or other liability"means a legally enforceable debt or other liability. so, a loan advanced by a money lender who is doing business of money ..... both the courts have not properly appreciated the material evidence on record and wrongly convicted the accused for the offence punishable under section 138 of the negotiable instruments act resulting in miscarriage of justice and sought for allowing the revision petition.-. 10 - nc:2024. khc:26829 crl.rp no.932 of 2021 24. he also .....
Tag this Judgment!Court : Karnataka
..... 000/-, no document is produced before the court. learned counsel also would vehemently contend that amount is paid by way of cash and there is a restriction under income tax act to pay more than 25% of the sale consideration and contend that that this court has to frame substantial question of law. learned counsel also would vehemently contend ..... to readiness and willingness and brought to notice of this court paragraph no.10, wherein observation is made with regard to section 16(c) of the specific relief act.12. learned counsel also relied upon the judgment in ritu saxena vs. j.s. grover and another reported in (2019) 9 scc132and brought to notice of this ..... 95% of the sale consideration has been paid and the remaining sale consideration payable is only rs.10,000/-. even as per section 16(c) of specific relief act, averments regarding readiness and willingness, if conduct of the plaintiff discloses that amount has been paid and only meager sale consideration is payable, then there is no need .....
Tag this Judgment!Court : Karnataka
..... expenditure. according to him, burden is on the accused. to prove his defence, accused has not lead any evidence. even the income of a government employee has to be declared under the provisions of income tax act and also under the karnataka civil services (conduct) rules, 1966. he submits that, there are no grounds to interfere into the impugned ..... documents were produced. table 'c' items not considered as no documents/explanation offered by the accused to show his income. sl. no.description 1 the income earned by the accused while working in the canteen during the period from 1961- 1970 amounting to rs. 18,000/-. this is not being considered as it predates the period of consideration. ..... 2 the income earned by the accused while working as nmr between the period of 1971-1973 amounting to rs.3172/-.this is not being .....
Tag this Judgment!Court : Karnataka
..... of section 446 must be so construed as to 18 eliminate such startling consequences as investing the winding up court with the powers of an income-tax officer conferred on him by the income-tax act, because in our view, the legislature could not have intended such a result.8. the argument that the proceedings for assessment or re-assessment ..... of a company which is being wound up can only be started or continued with the leave of the liquidation court is also, on the scheme both of the act and of the income-tax act, unacceptable.20. in the case of joshi trading co. (p.) ltd. v. essa ismail sait, (1980) 50 kerala 801, the kerala high court, ..... reassessment proceedings against a company under liquidation. 1 2016 scc online bom.2611 17 while elaborately dealing with the provisions of the income tax act and the terms used in section 446(1) and (2) of the companies act, like, other legal proceedings , the supreme court has observed as follows: 7. looking at the legislative history and the scheme .....
Tag this Judgment!Court : Karnataka Dharwad
..... the deceased has paid an amount of rs.2,448/- per month towards postal insurance which comes to rs.29,376/- which is exempted from tax under section 80c of income tax act, 1961. hence, the gross salary of the petitioner would be less than rs.2,50,176/- after deducting the contribution made towards postal insurance and ..... deduction towards profession tax, etc. hence, there is no force in the argument advanced by the learned counsel appearing for the insurance company. the tribunal, relying ..... and others, reported in air2017sc5157 it is only rs. 70,000/- that should be awarded under conventional heads. further, the tribunal has not deducted the professional tax and income tax from the salary of the deceased while awarding for loss of dependency. on all these grounds, he sought to allow the appeal.7. sri umesh c. .....
Tag this Judgment!Court : Karnataka Dharwad
..... the deceased has paid an amount of rs.2,448/- per month towards postal insurance which comes to rs.29,376/- which is exempted from tax under section 80c of income tax act, 1961. hence, the gross salary of the petitioner would be less than rs.2,50,176/- after deducting the contribution made towards postal insurance and ..... deduction towards profession tax, etc. hence, there is no force in the argument advanced by the learned counsel appearing for the insurance company. the tribunal, relying ..... and others, reported in air2017sc5157 it is only rs. 70,000/- that should be awarded under conventional heads. further, the tribunal has not deducted the professional tax and income tax from the salary of the deceased while awarding for loss of dependency. on all these grounds, he sought to allow the appeal.7. sri umesh c. .....
Tag this Judgment!Court : Karnataka
..... 2023 for gold, silver and diamond studded jewelry (3 pages).4. vouchers issued to the workmen/kariagr in respect of gold, silver and diamond (16 pages).5. income tax returns for the financial year 2022 to 2023 (9 pages)" however, the trial court rejected the said applications on the ground that no sufficient cause is made out ..... by the petitioner for allowing the applications. aggrieved by the same, the present writ petition is filed.4. order xi rule 1(1) of the act reads as under:- 1. disclosure and discovery of documents.-(1) plaintiff shall file a list of all documents and - 5 - nc:2024. khc:21918 wp no. ..... the agreed consideration and hence, the commercial suit came to be filed. it is submitted that along with the plaint, the suit document as contemplated under the commercial courts act, 2015 has been produced by the plaintiff / petitioner herein. however, in the cross- examination, the defendant / respondent herein had put questions denying the earlier transactions that .....
Tag this Judgment!