Court : Mumbai
Reported in : [1995]215ITR123(Bom)
..... of the canara bank limited stood transferred to the assessee-company pursuant to the provisions of section 394 of the companies act, 1956. similarly, all the assets of the said company also stood transferred to the assessee-company. all proceedings against the bank were also transferred to the assessee-company. 9.the canara bank had 28,000 5 per ..... premium account' in the books of account is includible while computing the assessee's capital in terms of the rules contained in the second schedule to the companies (profits) surtax act, 1964 ' 2. the questions have been numbered consecutively for the sake of convenience: the first question, which is referred at the instance of the ..... assessee, is covered by the decision of the supreme court in indian tube co. p. ltd. v. cit : [1992]194itr102(sc) . following the same, it is answered in .....
Tag this Judgment!Court : Mumbai
Reported in : [1993]202ITR74(Bom)
..... before the commission only to obtain shelter from various criminal liabilities to which he was exposed in view of the blatant contravention of several acts including fera, companies act, indian penal code, etc. the commission noted that the whole exercise for a period of 13 years was to keep the proceedings in abeyance ..... his right to make alterations and additions as subsequently deemed necessary.3. the petitioner belonged to the kamani family which is in charge of several indian companies. the family created specific foreign assets for which a very broad, general and rudimentary account was given by the petitioner. the petitioner claimed that ..... outside india without obtaining permission under foreign exchange, income-tax and other central acts would be illegal, the kamani group created legal agencies on its behalf in foreign countries but scrupulously avoided having any direct involvement with the companies set up abroad. initially, the scheme was implemented by the elder brother .....
Tag this Judgment!Court : Mumbai
Reported in : [1994]205ITR569(Bom)
..... facts and in the circumstances of the case, the tribunal was right in law in holding under rule 1(viii) of the first schedule to the companies (profits) surtax act, 1964, the gross dividend amounting to rs. 9,43,144 should be deducted from the total income of the assessee for computing the chargeable profits, ..... 14. the question is whether the words 'income by way of dividend......... received from an indian company' refer to the gross dividend received by the assessee as reduced by expenses permissible under section 57(iii) of the 1961 act or whether they refer to the net dividend after deduction allowed under section 80k/80m of the ..... computed for that year under the income-tax act shall be adjusted as follows :- 1. income, profits and gains and other sums falling within the following clauses shall be excluded from such total income, namely :- ............. (viii) income by way of dividends from an indian company or a company which has made the prescribed arrangements for the declaration .....
Tag this Judgment!Court : Mumbai
Reported in : AIR1986Bom359; 1984(2)BomCR788
..... the existence of a tenancy is established by the fact of the tenant's payment of rent to his landlord or otherwise.after the coming into force of the indian evidence act which, in section 116, incorporated the principle of estoppel of tenant, the privy council, in kumar raj krishna prosad lal v. baraboni coal concern ltd. , ..... slides at 'chitra', 'rivoli' and 'broadway' of dadar, and claimed reimbursement of half the cost totalling to rs. 121-10-0. another stall-holder gujar and company also desired to boost up the sale of samson dresses. they intended to have an advertisement campaign which would cost him rs. 60/- and requested ramniklal to contribute his ..... desired that their names should be specifically mentioned in the advertisements, ramniklal used to comply, provided the particular stall-holder bore half the expenses. for instance, soni watch company (vide letter -- exh. 'z-73') wrote on 11th nov. 1955 informing ramniklal that an expense of rs. 243-4-0 had been incurred by them in .....
Tag this Judgment!Court : Mumbai
Reported in : [1989(58)FLR161]; (1995)IIILLJ15Bom
..... industries which are carried on for their own purposes by incorporated commercial corporation which are governed by their own constitutions, as authorised by the companies act, cannot be described as carried on 'under the authority of the central government'. such corporations are independent legal entities and they run the ..... services, long distance transmission systems and overseas communication systems managed by the telecommunications board or any other organisation/company. (d) implementation of any order and/or directive issued under the indian telegraph act or rules framed thereunder by the telegraph authority or any officer duly authorised by the telegraph authority or ..... the act. (e) introduction of new services. (f) sharing of revenues collected by the company for various services with the department of .....
Tag this Judgment!Court : Mumbai
Reported in : 2001(4)ALLMR380; (2002)ILLJ190Bom
..... unfair labour practice before the labour court under item i schedule iv of the m.r.t.u. & p.u.l.p. act, 1971 (hereinafter referred to as the 'act') against the respondent no. 1 company, against the respondent no. 2 shradhanand mahila ashram and the state government. i fail to understand why the state government has been ..... observe that the petitioner union is guilty of throttling a noble cause taken up by the social missionaries who dedicated their life to the sublime aim of uplifting the indian women. i must also express that a woman cannot be socially independent unless she is first economically made independent. i, therefore, appreciate the efforts of the ..... is hindu women's welfare society popularly known as shradhanand mahila ashram founded in the year 1927 with the primary objective of providing shelter and assistance to the indian women and children in distress regardless of caste or religion. it is registered as a public trust with the motto to conduct it for the welfare of the .....
Tag this Judgment!Court : Mumbai
Reported in : AIR2005Bom65; I(2005)BC557; 2004(6)BomCR557; [2005]127CompCas920(Bom); 2005(1)MhLj813
..... .(1) each of the financial institutions specified in this sub-section shall be regarded, for the purposes of this act, as a public financial institution, namely :-(i) the industrial credit and investment corporation of india limited, a company formed and registered under the indian companies act, 1913 (7 of 1913);(ii) the industrial finance corporation of india, established under section 3 of the industrial finance ..... corporation act, 1948 (15 of 1948);(iii) the industrial development bank of india, established under section 3 of the industrial development .....
Tag this Judgment!Court : Mumbai
Reported in : 1990(3)BomCR294; 1991LC705(Bombay); 1990(49)ELT170(Bom)
..... not components. what the collector missed is that the publication refers to the standard for rubber aprons for ' drafting systems'. in the paragraph titled 'terminology' the indian standards institute defines 'drafting system' as the 'part of the spinning machinery (i.s.i. specification for synthetic rubber aprons (reinforced) for drafting systems.terminology.2 ..... product, medicines and so on. but in respect of rubber products such specification has not been made. nevertheless, by virtue of section 3 of the act, all excisable goods produced or manufactured in india attract duty from the manufacture or the producer. section 11-a empowers the central excise officer to serve ..... the assistant collector of central excise, thane division i, and the collector of central excise, bombay iii, who perform the duties under the central excise and salt act 1944, and the rule made thereunder. the petitioners impugn the validity of two orders :(i) the order made by the respondent no. 1 on 7th october, .....
Tag this Judgment!Court : Mumbai
Reported in : 2002(1)BomCR695
..... essential ceremonies constituting marriage between the woman and such a person must be proved. it is argued that having regard to the purport of section 50 of the indian evidence act and, more particularly, the proviso thereof, the question of marriage, its factum and legality are the quintessence, since the alleged offence is relating to marriage; ..... estate, zorint, zurinagar at vasco sub-division, south goa, district goa and thereby committed an offence punishable under section 325 of the indian penal code, 1860 read with section 77(2) of the navy act, 1957.'at the conclusion of the court martial proceedings, the petitioner was found guilty of charges 1, 3 and 4 under sections ..... consent or connivance of the said commander dilip baijal (01943-r) and thereby committed an offence punishable, under section 497 of the indian penal code, 1860 read with section 77(2) of the navy act, 1957.(2) did between the 3rd day of april, 1999 and the 30th day of september, 1999 threaten mrs. aarti tandon .....
Tag this Judgment!Court : Mumbai
Reported in : 2008(6)ALLMR747; 2009(1)BomCR309
..... itself, the plaintiff has not pointed out any such interest and he is falling back upon the agreement for development and sale in favour of developer company. i, therefore, find that section 202 of indian contract act has no application and therefore, there was no cause of action in favour of present non-applicant to maintain such suit. the consideration of this controversy ..... power of attorney of its own does not contemplate creation of any interest in property in managing director of the developer company. it speaks of plaintiff as an individual i.e. not in his official capacity. section 202 of the indian contract act, 1872, is applicable to cases where the agent himself has interest in the property which forms subject matter of the .....
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