Judgment Search Results Home > Cases Phrase: interest due Court: himachal pradesh Page 1 of about 2,791 results (0.052 seconds)

Shri Kundan Lal Ahuja and anr. Vs. State of Himachal Pradesh and ors.

Court : Himachal Pradesh

..... as already stated, the government has failed to show the overriding public interest due to which they decided to go back on their promise of the sales tax holiday. ..... rule was explained thus :when the government is able to show that, in view of the facts which have transpired since the making of the promise, public interest would be prejudiced if the government were required to carry out the promise, the court would have to balance the public interest in the government carrying out a promise made to a citizen which has induced the citizen to act upon it and alter his position and the public ..... it is only if the court is satisfied, on proper and adequate material placed by the government, that overriding public interest requires that the government should not be held bound by the promise but should be free to act unfettered by it, that the court would refuse to enforce the promise against the government. ..... the burden would be upon the government to show that the public interest in the government acting otherwise than in accordance with the promise is so overwhelming that it would be inequitable to hold the government bound by the promise and the court would insist on a highly rigorous standard of proof in the discharge of ..... it would not be enough for the government just to say that public interest requires that the government should not be compelled to carry out the promise or that the public interest would suffer if the government were required to honour it. .....

Himachal Pradesh Financial Corporation Vs. Tourist Hotel and Restauran ...

Court : Himachal Pradesh

Reported in : [1991]71CompCas492(HP)

..... the objection which related to the amount of interest payable by the appellants was formulated thus: since under the order dated april 29, 1977, which was described as a decree, the court had not expressly directed payment of any interest on the decretal amount, the corporation was not entitled to recover any amount by way of interest due on the principal amount for the period subsequent to the date of the order. ..... thus, after making an investigation under sub-section (6), while passing an order of attachment or sale of property under sub-section (8), the district judge will certainly determine the amount due under the claim and while doing so, future interest on the basis of the terms in the agreement shall have to be allowed from the date of the petition till realisation. ..... while determining the outstanding liability of the industrial concern, the district judge is bound to calculate and include future interest which may have fallen due from the date of filing of the application till its payment in terms of the agreement between the parties. ..... the high court was right in holding that interest would be payable on the principal amount due in accordance with the terms of the agreement between the parties till the entire amount due was paid as per the order passed under section 32 of the act. .....

Cit Vs. Himachal Pradesh Financial Corpn.

Court : Himachal Pradesh

Reported in : [2010]186TAXMAN105(NULL)

..... which according to him, was a liability that arose in the year other than the previous year relevant to the assessment year 1977-78 and issued direction that the amount towards interest accrued on sticky loans be considered afresh for the purpose of assessment taking into consideration the evidence, which may be put by the assessee before the assessing officer.4. ..... record either before the assessing officer or before the tribunal, the tribunal was not right in law in allowing the assessee's claim regarding interest due on sticky loans. ..... referred the following questions for our opinion:(i) whether, on the facts and in the circumstances of the case, the tribunal was right in law in allowing the assessee's claim regarding interest due on sticky loans ? ..... officer had considered in the assessment made de novo on 31-12-1976 that in fact 'the corporation's method is that in cases in which 5 or more half yearly consecutive instalments of principal amounts fall due, the interest accruing from them from the year should not be credited to the interest received account but is taken to the suspense account. ..... though the assessee was following mercantile method of accounting, yet in respect of the interest on sticky loans, an exception was made on proper rules observed uniformity in respect of loans where there was default in payment ..... if due to an erroneous order of the assessing officer, the revenue is losing tax lawfully payable by a person, it should be certainly prejudicial to the interest of .....

Leela Dutt Vs. Himachal Pradesh Financial Corporation and anr.

Court : Himachal Pradesh

Reported in : [1998]93CompCas388(HP)

..... , the managing director of the respondent-corporation is at liberty to issue a fresh certificate after giving reasonable opportunity to the petitioner to show cause or by holding an enquiry whichever he thinks proper in respect of the actual balance amount of loan and interest due and payable by the petitioner, the managing director of the respondent-corporation will pass a speaking order. ..... the petitioner is aggrieved by the proceedings under which the balance amount of loan and interest allegedly due and payable to the respondent-corporation is being recovered from him as arrears of land revenue. ..... in the result, the certificate issued by the managing director of the respondent-corporation is set aside and the proceedings initiated against the petitioner for recovery of loan and interest as arrears of land revenue are quashed. ..... therefore, we have no hesitation to hold that the proceedings for recovery of loan allegedly due and payable by the petitioner to the respondent-corporation as arrears of land revenue are bad, as these are based on the certificate issued by the managing director of the respondent-corporation without giving any opportunity to the petitioner to show cause or without holding any enquiry about the actual amount due and payable by him to the respondent-corporation. 6. ..... this certificate is issued under section 3(1)(d)(4) of the himachal pradesh public moneys (recovery of dues) act, 1973 (hereinafter called 'the act'). .....

The H.P. Fruit Growers Co-op. Mark. Processing Society Ltd. Vs. the Hi ...

Court : Himachal Pradesh

Reported in : AIR1996HP94

..... (iv) in the event of any default on the part of the allottees in the payment of the premium of land or the interest due, a penal interest at double the rate shall be charged from the date of default until the outstanding arrears are fully cleared. ..... 1994, indicating the receipt of payments, the amount due with and without penal interest, the defendants were again directed to submit fresh statements of account indicating the excess amount adjusted towards the payment of the balance premium and then re-scheduling it on the remaining instalments and calculating the interest compounded at the original rate of interest agreed to in between the parties as also at the prevailing rate of interest at the material time and subsequent thereto till the ..... in this regard, it may be stated that in view of clauses (ii) ana (iv) of the draft lease agreement, re-produced above, there is a clear stipulation of charging of interest at double the rate in case of failure of repayment of premium or interest on the due date, from the date of default till its recovery. ..... regards the entitlement of the plaintiff to recover interest on the excess amount, suffice it to state that 9% interest has been allowed to the defendants on the outstanding dues payable by the plaintiff society. ..... thus, on the face of it, the amount shown as due against the plaintiff which includes compound interest, is not valid in view of the discussion made above, and as such, the whole of it is not liable to be recovered from the .....

Kanwarani Madna Vati and anr. Vs. Raghunath Singh and ors.

Court : Himachal Pradesh

Reported in : AIR1976HP41

..... she had been asked to pay the amount with interest due on the basis of the mortgage, deed. ..... it was pleaded that she inherited property from her husband and that she had only a life-interest and at that relevant time she could alienate only for legal necessity and of which there was none ..... of the plaint and further that in case the sale proceeds fall short of the amount due to the plaintiff for a personal decree to that extent or in the alternative for possession of the mortgaged property and a personal decree for interest and costs filed by the plaintiff against the defendant no. 1.2. ..... the cross-objections with regard to the costs and interest tiled by the plaintiff also succeed, as already stated above. ..... being a widow and an illiterate and old lady and not in a position to protect her interest the execution of such a document cannot be said to be valid. ..... realised from the property by way of interest, and for the payment of costs and interest she was personally liable apart from the ..... the plaintiff was also justified in claiming interest when his money was not repaid nor the possession ..... promised to pay back the loan before the end of may 1951 without interest and get the mortgaged property redeemed. ..... had a first charge on the property and was entitled to priority over the interests of defendants 2, 3 and 4, and they could not stand in the way of the plaintiff in getting possession of the mortgaged property or in realising the suit amount with costs and interest by sale of the same.5. .....

Himachal Pradesh Financial Corporation Vs. Commissioner of Income-tax

Court : Himachal Pradesh

Reported in : [1998]233ITR450(HP)

..... whether, on the facts and in the circumstances of the case, the appellate tribunal was right in law in allowing the assessee's claim regarding interest due on sticky loans ? 2. ..... 606 of 1984 taking a particular view on the question of law which arose before it with regard to interest on sticky loan should not have modified that order on the pretext of rectification under section 254(2) on the basis of a judgment of the supreme court. ..... in that judgment the supreme court has held that interest charged on sticky loans and credited to interest suspense account was taxable under the income-tax act and the same should be included in the income of the assessee. ..... whether, on the facts and in the circumstances of the case, the tribunal was right in law in holding that interest on sticky loans is liable to be taxed on accrual basis ?' 6. ..... consequently, the tribunal ordered that the amount of interest of rs. .....

The Managing Director, H.P. Forest Corporation and anr. Vs. Surinder P ...

Court : Himachal Pradesh

Reported in : 2006(2)ShimLC68

..... section 4-a(3) of the act reads as follows:-4-a(3) where any employer is in default in paying the compensation due under this act within one month from the date it fell due, the commissioner may direct that, in addition to the amount of the arrears, simple interest at the rate of six per cent per annum on the amount due together with, if in the opinion of the commissioner there is no justification for the delay, a further sum not exceeding ..... why the claimants should have been deprived of interest due and payable to them. ..... right to get indemnified from the contractor specifically conferred on the principal under section 12 (2) of the act sufficiently safeguards the interest of the principal who has entrusted the work to the contractor stipulating a term in the agreement entered into between them regarding the ..... the forest corporation in its reply admitted the accident and also admitted the fact that the deceased chanalu ram had died due to the accident, but according to it, he was not an employee of the forest corporation and was doing the work of cutting and felling of trees which work had been awarded to surinder ..... for the claimants contends that the workmen's compensation commissioner has no discretion in the matter and is bound to award interest in case the amount is not deposited within one month from the date of the accident. ..... why should poor claimant be deprived of the interest on the amount which was due and payable to them within one month of the date of the accident or of .....

The H.P. State Industrial Development Corporation Ltd. Vs. Gobind Phar ...

Court : Himachal Pradesh

Reported in : AIR2007HP3,[2007(4)JCR424],2006(2)ShimLC300

..... objections, raised by him, are that (i) the plaintiff failed to sell the hypothecated goods and to realize the money due and, therefore, the suit is not maintainable; (ii) the amount due has not been correctly worked out, because the plaintiff could not have charged interest at a rate higher than 6% simple interest per annum on the loan amount; (iii) there has been variation of terms of the agreement between the plaintiff ..... payment of interest - period commencing from the date immediately succeeding the date on which the last payment of interest was made or the due date to which the payment of interest relates, whichever date is later, and ending with the date on which the interest due has been ..... this case it has been held that under this clause the plaintiff has the option to declare the principal, due at the time of default, to be payable immediately by serving a notice in writing and on such declaration, the principal amount then payable, the interest and all other moneys payable under the agreement, would become due and payable immediately and that the cause of action accrues to the plaintiff to institute the suit on ..... instalments, the period of default commences on the dale immediately succeeding the date of the payment of the last instalment of principal or due date of such subsequent instalment, whichever date is later and ends with the date on which the interest due has been paid, meaning thereby that this period continues utill the entire amount of interest due is cleared.23 .....

Punjab National Bank and Etc. Vs. Vidya Hatchery, Etc. Etc.

Court : Himachal Pradesh

Reported in : AIR1999HP24,[1999]98CompCas409(HP)

..... bank has not disputed the rate of interest awarded by the trial court and its precise grievance is that wrong calculations have been made while arriving at the amount of interest due and payable by the respondents-defendants and also ..... in view of this statement of the learned counsel for the appellant bank, we have asked him to file a statement of account calculating the amount due and payable by the respondents-defendants on the basis of interest at the rate of 11.85% per annum with quarterly rests up to 22-6-1982 and thereafter at the rate of 12.5% per annum with quarterly rests till the filing ..... in respect of the medium term loan and its clause 6 pertains to rate of interest stating that the borrower shall pay interest at the rate of 4% below the state bank of india advocate rate with a minimum of 12.5% per annum rising and falling therewith subject to enhancement as hereinafter provided calculated respectively on the daily balance of the amount due along with the repayment of instalments of the principal amount of the loan as aforesaid ..... against pledge of movable machinery and in its clause 6, it is mentioned that the borrower shall pay interest at the rate of 4,65% below the state bank of india advance rate with a minimum of 11.85% per annum rising and falling therewith subject to enhancement as hereinafter provided calculated respectively on the daily balance of the amount due along with the repayment of instalments of the principal amount of the loan as aforesaid : and .....