Court : Chennai
Reported in : [1994]80CompCas814(Mad); (1992)IILLJ210Mad
..... are applicable to nationalised banks. in so far as scheduled banks are concerned, there is no such provision enabling the ..... affairs of the banking company. of course, the provisions contained in the banking companies (acquisition and transfer of undertakings) act brought about a change and the central government framed a scheme as contemplated under section 9 of the banking companies (acquisition and transfer of undertakings) act, 1970, so as to ensure the employees' representation in the board of directors of the nationalised banks. however, these provisions .....
Tag this Judgment!Court : Chennai
Reported in : [1992]193ITR426(Mad)
..... greater detail. 6. we may now refer to cit v. motor credit co. p. ltd. : [1981]127itr572(mad) . the assessee in that case was a private company financing the purchase of motor vehicles on hire purchase and had advanced amount to two firms plying buses, whose routes had been taken over by the state transport corporation, leading ..... non-income, merely because there was no prospect of receipt of interest, as there were large outstandings of principal. in this connection, it would be useful to refer to kedarnath jute mfg. co. ltd. v. cit : [1971]82itr363(sc) , where, in a case in which the assessee was following the mercantile system of accounting, it was pointed ..... the income-tax officer on evidence that the debt had actually become bad during the accounting year is necessary. the tribunal, in this case, had merely proceeded to act upon the information of the assessee in this regard and, as pointed out earlier, has not considered the facts and circumstances having a bearing upon the bona fide .....
Tag this Judgment!Court : Chennai
Reported in : (1991)94CTR(Mad)71; [1991]191ITR249(Mad)
..... associated portland cement . v. kerr (h. m. inspector of taxes) [1945] 27 tc 103 , relied on by learned counsel for the revenue. the assessee-company paid certain amounts to two of its retiring directors who had exceptional knowledge of the cement industry and important business contacts, on the basis of covenants entered into with them ..... , the character of the expenditure involved in purchasing loom hours came to be decided. therein, with a view to protect the trade of the members of the jute mills association, a working time agreement was entered into between the members, placing a restriction on the number of working hours per week for which the member-mills ..... supreme court upheld the capital natural of the expenditure incurred by the assessee as well as its disallowance under section 10(2)(xv) of the indian income-tax act, 1922. applying the aforesaid principles to the present case, it follows that the expenditure incurred by the assesses was in the nature of capital expenditure. in .....
Tag this Judgment!Court : Chennai
Reported in : (1991)ILLJ163Mad; (1992)IMLJ131
..... in the strike. the employees' writ petition to quash the circular was allowed and the letters patent appeal, preferred by the nationalised bank was dismissed. the matter went to the supreme court. the two learned judges viewed the question in the following manner ..... workmen on their part called off the strike. the settlement was signed by responsible officers holding high ranks in the company, and it is too much for us to swallow the contention of the management that the officers who represented the ..... of law and it was ineffective and unenforceable, he drew our attention to a number of pronouncements. in kalinga jute products v. presiding officer, industrial tribunal 1980-i-llj-239 a bench of the high court of orissa was ..... is that after having trapped the union into an agreement and after having taken advantage of that agreement, the management acted vindictively and dishonestly against the terms of agreement on the pretext that the settlement was not binding on the management. .....
Tag this Judgment!Court : Chennai
Reported in : (1992)1MLJ131
..... 's salary of the employees, who participated in the strike. the employees writ petition to quash the circular was allowed and the letters patent appeal, preferred by the nationalised bank was dismissed. the matter went to the supreme court. the two learned judges viewed the question in the following manner:the principal question involved in the case, ..... settlement itself has not come into existence in the eye of law and it was ineffective and unenforceable, he drew our attention to a number of pronouncements. in kalinga jute products v. presiding officer, industrial tribunal (1980)1 l.l.j. 239 a bench of the high court of orissa was concerned with a case of a ..... the award, the employer should have been proceeded against under section 29 of the act, which speaks about penalty for breach of settlement or award; or under section 33-c (1) of the act, for recovery of benefits under the award.16. in madras bangalore transport company v. labour court, bangalore (1963-64)25 f.j.r. 244 a bench .....
Tag this Judgment!Court : Chennai
Reported in : (1990)2MLJ324
kanakaraj, j.1. this writ appeal filed by the indian bank, a bank nationalised under the banking companies (acquisition of undertakings) act, 1970 poses a challenge to the bench and the bar. whether we rise up to the occasion and meet the challenge, within the four corners of law, will be ..... the courts have taken a different view subsequently and therefore, he is pressing the plea of jurisdiction. if the appellants had themselves assumed that even a nationalised bank will come within purview of the shop act, then they have to suffer the consequences. this is because, if the plea of want of jurisdiction had been raised before the second respondent, it ..... .6.1983, which judgment admittedly, was not available at the time when the writ appeal was filed, a learned single judge of this court held that nationalised banks were exempt from the provisions of the shop act, subsequently, a division bench of this court, in c.v. raman and ors. v. the management of bank of india and ors. : (1984)iillj34mad .....
Tag this Judgment!Court : Chennai
Reported in : (1990)37TTJ(Mad)59
..... the assessee objecting to the order passed by the commissioner of income-tax, tamilnadu-iii, madras, under section 263 of the income-tax act, 1961, dated 18-9-1986.2. the assessee is a company engaged in the manufacture and sale of air pollution control equipment. its income-tax assessment for the assessment year 1982-83, for which ..... of the commissioner to the contrary was incorrect and that the same should be vacated. in support of his submissions the learned counsel relied on the following decisions;1. empire jute co. ltd. v. cit : [1980]124itr1(sc) ,2. time-aids (india) (p.) ltd. v. cit : [1978]112itr328(mad) ,3. triveni engg. works ltd. v. cit : [1982] ..... the business realities. in a given case, the test of enduring benefit might break down. in cit v. associated cement companies ltd. : [1988]172itr257(sc) , this court said :as observed by the supreme court in the decision in empire jute co. ltd. v. cit : [1980]124itr1(sc) , that there may be cases where expenditure, even if incurred .....
Tag this Judgment!Court : Chennai
Reported in : [1991]71CompCas723(Mad)
..... immovable property because it was a decision devoted to a case where notice had been served as required under section 112 of the madras act 1 of 1908. 21. relating to legislative competence, he refers to j. k. jute mills co. ltd., v. state of u.p. : [1962]2scr1 , which could be of no assistance for holding that ..... dharmasalas, temples and shops, the state has acquired any rights whatsoever merely by reason of their being on the land belonging to the state.' 38. a division bench in katihar jute mills ltd. v. calcutta match works (india) ltd. : air1958pat133 , held as follows : generally, any sale of a building without any specific reference to the land whereon ..... of each such apartment/unit by the promoter to the respective owner is treated as an 'agreement'. as 'agreements' need not be registered under the registration act, 1908 (central act xvi of 1908), no stamp duty is paid therefor. to plug this loophole for evasion of stamp duty and registration fee and to ensure that no distinction .....
Tag this Judgment!Court : Chennai
Reported in : (1990)ILLJ603Mad
..... government within the purview of section 4(1)(c) of the tamil nadu shops and establishments act. hence, the appeal filed by the writ petitioner before the second respondent was unsustainable as he ..... covered by section 4(1)(c) of the act and, therefore, it is exempted from the provision of the act. the reasoning of the supreme court in c. v. raman, etc. etc. v. bank of india, etc. etc. : (1988)iillj423sc will apply with equal force to nationalised insurance companies and they will also be establishment under the central ..... june, 1980. he filed an appeal to the general manager of the company on 18th august, 1980 which was rejected by order dated 28th january, 1981. thereafter he filed an appeal under section 41(2) of the tamil nadu shops and establishment act before the second respondent. one of the objections raised by the first .....
Tag this Judgment!Court : Chennai
Reported in : (1990)2MLJ23
..... government within the purview of section 4(1)(c) of the tamil nadu shops and establishments act. hence, the appeal filed by the writ petitioner before the second respondent was unsustainable as he ..... (1988) 2 l.lj.423 will apply with equal force to nationalised insurance companies and they will also be establishments under the central ..... . the supreme court reversed the decision of the full bench of the kerala high court holding that a nationalised bank is an establishment covered by section 4(1)(c) of the act, and, therefore, it is exempted from the provision of the act. the reasoning of the supreme court in c.v. raman etc. v. bank of india etc. .....
Tag this Judgment!