Court : Andhra Pradesh
Reported in : [1982]134ITR158(AP)
..... amounts of its paid-up share capital and of its reserves in so far as they have not been allowed in computing the profits of the company for the purposes of the indian income-tax act, 1922(xi of 1922), diminished by the cost to it of its investments or other property, the income from which is not includible in the profits ..... brought into existence by creating or increasing (by revaluation or otherwise) any book asset is not capital for computing the capital of a company for the purposes of this act. explanation 2. - any premium received in cash by the company on the issue of its shares standing to the credit of the share premium account shall be regarded as forming part of its ..... 19a(3) in so far as they direct as above, are ultra vires of s. 80j. the petitioner is a public limited company to which s. 80j of the act applies and is assessed as such under the i.t. act, 1961. it started a pharmaceutical unit in august, 1968. it is assessed to income-tax and its assessment year is the calendar .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : 1982(10)ELT214(AP)
..... .' 16. in union of india vs. mansingka industries pvt. ltd. - 1979 elt 158 (bombay), mansingka industries private limited, a company incorporated under the indian companies act filed a suit in the court of the civil judge, senior division at jalgoan contending that the union of india illegally recovered from it ..... were quashed. no direction was, however, given by the appellate authority for the refund of tax which had been realised from the company. thereafter the company approached the various officers of the state government of madhya bharat for the refund of tax amounting to rs. 2,37,770-14- ..... refunded. such fiscal administration alone ensures the atmosphere of tax compliance. but a question of limitation also arises in this case.' 35. in birla jute . vs. union of india and others - 1980 elt 593 (m.p.) two writ petitions were filed in the high court of madhya pradesh ..... to the petitioner on condition that the petitioner executes a bank guarantee for the said amount in a nationalised bank. .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : [1983]53CompCas73(AP)
..... and his coterie consisting of his close relatives and nominees are attempting to gain control over the company to be formed, by giving instances of his past conduct. it is stated that when hindustan ideal insurance company ltd. was taken over under the general insurance business nationalisation act, he managed to get an authorisation from the shareholders to receive the compensation amount, and though ..... and hence the material facts were not placed to enable the shareholders to come to a decision. reference was made to sheth mohanlal ganpatram v. shri sayaji jubilee cotton and jute mills co. ltd. [1964] 34 comp cas 777 (guj), in which it was observed that the object of enacting s. 173 is to secure that all facts which have a .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : [1985]58CompCas816(AP)
..... mitigate their hardship. in this case, we direct that the amount payable to the minors-claimants nos. 2 and 3 should be kept in fixed deposit in any nearest nationalised bank till they attain majority and the interest accrued thereon should be paid to the minors for their education and maintenance and that, after their attaining majority, the amount ..... opinion that one of the methods is that the claims tribunal should direct the claimants or the legal representatives to open a savings bank account either in the nearest nationalised bank or the post office and the number of that account should be furnished to the tribunal and the tribunal should deposit the respective shares of the claimants ..... a person specified in para 3 as one to whom cover of the policy was extended.' 53. sri somayajulu, the learned counsel for the company, also contended that s. 95 of the m.v. act provides the upper limit of rs. 5,000 and that the lower tribunal has correctly limited the liability only to rs. 5,000. it .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : AIR1983AP297
..... against a person specified in para 3 as one to whom cover of the policy was extended'.45. sri somayajulu the learned counsel for the company also contended that section 95 of the motor vehicles act provides the upper limit at rs 5,000/- and that the lower tribunal has correctly limited the liability only for rs. 5,000/- it ..... opinion that one of the methods is that the claims tribunal should direct the claimants or the legal representatives to open a savings bank account either in the nearest nationalised bank or the post office and the number of that account should be furnished to the tribunal and the tribunal shoudl deposit the respective shares of the claimants to ..... mitigate their hardship in this case, we direct that the amount payable to the minors-claimants 2 and 3 should be kept in the fixed deposit in any nearest nationalised bank till they attain majority and the interest accrued thereon should be paid in the manner indicated above. the amount to be paid to the first and fourth .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : [1985]152ITR163(AP)
..... cit : [1963]48itr222(sc) . in this case, question was whether the compensation paid for the termination of monopoly purchase of the products of a famous electric company was taxable. it was held that the right extinguished being a capital asset, the compensation paid for such extinguishment was also a capital receipt. the contention that the ..... that it was incorrectly decided, superseded the judgment by enacting the explanation to s. 10(14) with retrospective effect from april 1, 1962, by the finance act, 1975, by which the position was clarified that the allowance was meant for meeting personal expenses at the place where the duties of the office are ordinarily performed ..... from a definite source, it cannot be regarded as income, much less 'profit in lieu of salary'. 26. this argument obviously overlooks the scheme of the act as reflected in the inclusive definition of income in s. 2(24). capital gain, compensation for termination of employment falling under s. 17(2) and termination .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : [1989]75STC185(AP)
..... 27th april, 1980 and which was replaced by act no. 42 of 1980, the said national company limited was nationalised and the undertakings of the company stood transferred to and first vested with the central government by virtue of section 3 of the act. acting under section 5 of the above act, the central government issued a notification dated 28th ..... vested with effect from 28th april, 1980 in the jute corporation of india limited. under section 6 of the above act, the right, title and interest of the company in addition to its undertakings which had earlier been vested in the existing company were vested in a new government company, which is the present petitioner) with effect from ..... be called a transferee within the meaning of section 17. two judgments - one, of the calcutta high court in national jute . v. commercial tax officer (1982) 1 clj 31 and the other reported in burn standard company ltd. v. state of tamil nadu [1983] 52 stc 62 (mad.) support the contention of the learned counsel .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : AIR1990AP20
..... prohibiting the said activity, it would be void, being violative of the respondent's fundamental right under art. 19(1)(a). they point out that in bank nationalisation case, : [1970]3scr530 the supreme court has overruled the theory expounded in gopalan, : 1950crilj1383 , and has held that it is not the form and ..... government.shareholdings7. ministers cannot be expected, on assuming office, to dispose of all their investments. but if a minister holds a controlling interest in any company considerations arise which are not unlike those governing the holding of directorships and, if there is any danger of a conflict of interest, the right course ..... the chief minister. no chief minister can involve himself in full-time or part-time commercial activity, particularly with the heavy responsibility of producing, directing, acting, and overall supervision of a film. the respondent 'wants to use the cinema with an ulterior purpose of influencing the entire indian electorate by religious propaganda .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : (1990)ILLJ367AP
..... case are cumulatively present in a substantive measure. all these features of the respondent-society clearly point out that the it bears no analogy to a company registered under the companies act. the respondent-society performs public functions in the interests of the community. 24. the deep and pervasive control of the state government and the ..... mere addition of state money would not influence the conclusion.' a corporation may be established by a statute or incorporated under a law such as the companies act, 1956, or the societies registration act, 1860 ramana's case. speaking for the three-judge bench in ramana's case. bhagwati, j. (as he then was), after posing the ..... , the relief of mandamus sought was negatived and this is very clear from the following observations at page 754 : 'the company being a non-statutory body and one incorporated under the companies act there was neither a statutory nor a public duty imposed on it by a statute in respect of which enforcement could be .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : AIR1992AP109; 1991(2)ALT48
..... 217(2)(a) ?5. before dealing with the points, we shall refer to the provisions of the old and new acts. the old motor vehicles act, 1939 contains a group of provisions in chapter iv-a in regard to nationalised transport services. section 68-b gives overriding effect to the provisions of the chapter. section 68-c deals with preparation and ..... s. 68c. in fact, it was held in janardan's case : [1960]3scr85 that proceeding under s. 153-c of the repealed act or the jurisdiction of the district court under the old companies act, 1913 was not affected.26. that brings us to another submission for the writ petitioners that a draft scheme for modification published in exercise of ..... . (abdul aziz v. state of bombay) : air1958bom279 .32. again in raja narayananlal v. m. p. mistry : [1961]1scr417 , the supreme courtheld, relying on s. 658 of the companies act, 1956 that an inspector appointed under s. 138(4) before 1-4-1956 could proceed with the investigation under that section even after the new .....
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