Judgment Search Results Home > Cases Phrase: jute companies nationalisation act 1980 section 8 payment of further amounts Court: kerala Page 1 of about 54 results (0.116 seconds)

Commissioner of Income Tax Vs. the Nedungadi Bank Ltd.

Court : Kerala

Reported in : (2003)182CTR(Ker)403; [2003]264ITR545(Ker); 2003(2)KLT443

..... basis of the market value of the securities and shares. the supreme court noted the following undisputed facts:'(a) the appellant is a nationalised bank and, therefore, is governed by the banking regulation act, 1949.(b) the appellant follows the mercantile system of accounting both for book-keeping purpose as well as for tax purposes.(c) the ..... -sections (1), (2a) and (4)(a) thereof without the explanation reads thus:'24(1): after the expiry of two years from the commencement of this act, every banking company shall maintain in india in case, gold or unencumbered approved securities, valued at a price not exceeding the current market price, an amount which shall not at the ..... cases, it is open to the income-tax officer as well as the assessee to point out the true and proper income while submitting the income tax return. in kedarnath jute mfg. co. ltd. v. cit : [1971]82itr363(sc) , this court has negatived the contention that (page 367):'........ if an assessee under some misapprehension or .....

Cit Vs. Nedungadi Bank Ltd.

Court : Kerala

Reported in : [2003]130TAXMAN93(Ker)

..... basis of the market value of the securities and shares. the supreme court noted the following undisputed facts :'(a) the appellant is a nationalised bank and, therefore, is governed by the banking regulation act, 1949.(b) the appellant follows the mercantile system of accounting both for book-keeping purpose as well as for tax purposes.(c) the ..... .'** ** **(2a) (a) notwithstanding anything contained in sub-section (1), or in subsection (2), after the expiry of two years from the commencement of the banking companies (amendment) act, 1962(i) a scheduled bank, in addition to the average daily balance which it is, or may be, required to maintain under section 42 of the reserve bank ..... cases, it is open to the income tax officer as well as the assessee to point out the true and proper income while submitting the income-tax return. in kedarnath jute mfg. co. ltd. v. cit : [1971]82itr363(sc) , this court has negatived the contention that :. if an assessee under some misapprehension or mistake fails .....

State of Kerala Vs. Mariyamma

Court : Kerala

Reported in : (2006)200CTR(Ker)361; [2006]280ITR225(Ker); 2005(2)KLT587

..... 194la with reference to the date of deposit33. who is the competent authority to deduct income tax? in some cases land is acquired either for a' public company or for local bodies. in such cases the compensation amount is always made available by the requisitioning authority. even if land is acquired for a local authority or ..... pronouncement of the order, it was noticed that this court committed an error in calculating the amount due to the claimant under section 23(1a) of the land acquisition act ('act' for short) and the interest payable to the claimant on such amount. since the findings of this court on those points were against the decisions of the apex ..... tax contempt proceedings cannot be initiated against the officer who deducted the same. the principle laid down in lt.col.k.d, gupta's case (supra) was followed in kedarnath jute mfg. co. v. prasad ranjan ray : [2004]266itr677(cal) .28. the counsel for government of india (taxes) has filed a statement stating that the amounts payable as .....

Dr. M.i. Itty Vs. Kerala Financial Corporation,

Court : Kerala

..... the surety remains unimpaired.the division bench held that the sick textile undertakings (nationalisation) act, 1974 does not extinguish the liability of the principal debtor, although he is discharged to the extent to which the claims against him are admitted and ..... , 366. this principle applies with equal, if not greater, force to a case such as the present, where the principal debtor is released under the nationalisation act only to the extent to which the claims against him are admitted, and his liability for the undischarged debts remain unaffected. to that extent the liability of ..... credited or paid under the act and is therefore no longer liable to be proceeded against to the extent of such accord and satisfaction. the division bench also held that the liability of the nationalised company in respect of the balance amount remains unimpaired and to the extent .....

Palghat Exports Private Ltd. and P. Ramkumar Vs. T.V. Chandran and ors ...

Court : Kerala

Reported in : [1994]79CompCas213(Ker)

..... ltd. [1962] 32 comp cas 937 (punj), (4) if the directors refuse to distribute compensation money obtained on nationalisation of the company--hindusthan co-operative insurance society ltd., in re [1961] 31 comp cas 193 (cal), (5) the company undertaking businesses other than those mentioned in the objects clause without calling a general meeting or passing a resolution-- hindusthan ..... of his legal and proprietary rights as a shareholder.'26. we may also in this context refer to a decision in sheth mohanlal ganpatram v. shri sayaji jubilee cotton and jute mills co. ltd. [1964] 34 comp cas 777 ; 803 ; air 1965 guj 96, 98, wherein bhagwati j., as he then was, observed that '... being ..... is, in my judgment, an abuse of the process of the court and it is primarily on that ground that i would dismiss this petition', . buckley on the companies acts, fourteenth edition of 1981, under the head 'abuse of process under section 210' cites the decision in beliador silk ltd., in re [1965] 1 all er 667. .....

Dr. T.M. Paul Vs. City Hospital (Pvt.) Ltd. and ors.

Court : Kerala

Reported in : [1999]97CompCas216(Ker)

..... , class i, rajnandgaon, : air1966mp286 , that the courts nominated under section 10 have exclusive jurisdiction to take cognizance of all matters covered by the companies act was not accepted by the other learned judge constituting the bench. learned counsel for the appellants have also pointed out the decision of n.c. mukherji ..... co-operative societies, etc. but, no authoritative pronouncement of the supreme court on the question of jurisdiction of civil courts in matters pertaining to companies coming under the companies act has been cited. learned counsel for the appellants have placed reliance on the decision in sri ramdas motor transport ltd. v. tadi adhinarayana reddy ..... companies act, 1948. section 397 provides against oppression of minority shareholders and section 398 provides for relief against mismanagement. the scope and ambit of sections 397 and 398 has been elaborately dealt with by sri p.n. bhagwati j. (as he then was) in mohanlal ganpatram v. sayaji jubilee cotton and jute, .....

A.V. Thomas and Co. Ltd. Vs. Commissioner of Income-tax

Court : Kerala

Reported in : [1986]159ITR431(Ker)

..... the counsel on behalf of the assessee. the said argument as capitulated in the decision reads (p. 11):' the income tax is payable by the company under section 60 of the income-tax act, 1842, schedule a, no. iii, rule 3, and does not come under schedule d. the tax is a charge on the profits before distribution ..... commencing on the 1st day of april, every year. the assessing authority has been conferred with power to extend the date for furnishing the return, provided the assessee company makes an application in that behalf. the assessing authority, after considering the accounts or evidence produced by the assessee and also such other evidence or material as he ..... not cases of application of the income, but expenditure incurred for the purpose of carrying on the trade and, therefore, deductible in computing the profits and gains of business: kedarnath jute mfg. co. ltd. v. cit : [1971]82itr363(sc) and pope the king match factory v. cit : [1963]50itr495(mad) . liability to pay sales tax or .....

Vanaja Textiles Ltd. Vs. Commissioner of Income-tax

Court : Kerala

Reported in : (1994)118CTR(Ker)372; [1994]208ITR161(Ker)

..... regarded as capital assets and which came into existence as a result of the expenditure incurred did not belong to the assessee-company but to the municipality. in these circumstances, applying the principles laid down in empire jute co.'s case : [1980]124itr1(sc) , the expenditure is clearly liable to be allowed as deductible from the ..... rs. 34,152 representing incremental liability for gratuity.50. the question whether incremental liability is a concept germane to section 40a(7)(b)(ii) of the income-tax act was considered by this court in the decision in cit v. chembra peak estates ltd. : [1990]185itr556(ker) . this court held that the incremental liability is ..... in the alternative that the amount laid out was in any event expenditure for current repairs allowable under section 10(2)(v) of the indian income-tax act, 1922. the court observed that the tribunal had evidence before it from which it could be concluded that by introducing the casablanca conversion system, the assessee made .....

P.V. Mani and ors. Vs. Union of India (Uoi) and ors.

Court : Kerala

Reported in : AIR1986Ker86

..... in purported exercise of the power of the central government under section 16(1)(g) of the general insurance business (nationalisation) act. that scheme was challenged as beyond the competence of the central government, since the merger of the insurance companies into four companies in aid of which alone schemes could be framed, had already become effective long prior to the date of issue ..... corporation (hereinafter referred to as the corporation) was constituted under the life insurance corporation act, 1956 (hereinafter referred to as the act). the life insurance business ofabout 243 companies was nationalised with effect from 1-9-1956 under the above enactment, which replaced its predecessor ordinance. chapter iv of the act consists of sections 7 - 17, which provide for transfer of existing life insurance business .....

C.K. Rajan Vs. State of Kerala and ors.

Court : Kerala

Reported in : AIR1994Ker179

..... in the judgment, this court held thus: '...... whether the withdrawal of deposits inthe circumstances stated was justified and whether the re-deposit of those amounts in nationalised banks had resulted in any substantial loss to the devaswom are all matters not appropriate to be gone into in a writ petition under article 226 of the ..... understand as to why the managing committee should have gone to the extent of preferring changanasserry branch (far away from guruvayur) for its dealings to an insurance company which has an office at guruvayur (part i of the final report page 77). there is no substance in the objection raised by the thanthri regarding the ..... in accordance with the dittam or scale of expenditure fixed for the temple and the subordinate temples under section 51 of the madras hindu religious and charitable endowments act, 1951 (madras act xix of 1951); (b) to provide facilities for the proper performance of worship by the worshippers; (c) to ensure the safe custody of the funds .....