Court : Kerala
Reported in : AIR1991Ker162; [1992]75CompCas377(Ker)
..... that there is 'distribution' within the meaning of article 39(b) when the legislative measure is one of nationalisation, and that such a law is eligiblefor, and entitled to the protection under article 31c. the act is therefore saved from any challenge under article 14 and 19 under artilce 31c of the constitution. we ..... essential to the needs of the economy of the state, and for matters connected therewith or incidental thereto. preamble.-- whereas the super clays and minerals mining company (private) limited has at present the ownership of, and control over, a significant portion of the china clay produced in the state and marketed and ..... of the constitution essentially challenges sections 3 and 7 of the super clays and minerals mining company (private) ltd. (acquisition of undertakings) act, 1983, kerala act 3 of 1984, (for brevity the act), and seeks a declaration that the said act is unconstitutional, though the prayers, as they are, are couched in inartistic language. the original .....
Tag this Judgment!Court : Kerala
Reported in : (1992)106CTR(Ker)12; [1993]201ITR1010(Ker)
..... also associated with the company m/s. sreedharan & co. (p.) ltd., in which there appeared five cash credits of rs. 50,000 each on january 1 and 5, 1980, march 15 and 28, 1980, and rs. one lakh on march 3, 1980, aggregating to rs. 3 lakhs. in completing the assessment under the income-tax act for the year 1980 ..... , the supreme court approved the decision of this court in annamma paul perincherry v. cwt : [1973]88itr204(ker) and of the allahabad high court in cwt v. j. k. jute mills co. ltd. : [1979]120itr150(all) holding that no such presumption can be raised after the lapse of a sufficiently long period.11. in annamma paul v. cit : [ ..... commission does not detract from the validity of the explanation that the source relied on was really his share of the undisclosed income of sreedharan & co. and kavitha trading company, the fact remains that, having regard to the intangible additions made by the settlement commission, the assessee must be deemed to be in possession of those amounts from 1976 .....
Tag this Judgment!Court : Kerala
Reported in : [1996]221ITR276(Ker)
..... made for the year 1976-77 and is not the above finding (or surmises) based on no material and perverse ?'2. the assessee is a private limited company having the main objects to manufacture, otherwise deal in formaldehyde, polyester/urea/phenol resin, pentaorythritol, hexemine and their derivatives including other organic and synthetic chemicals. the assessee ..... improvements in the technical know-how was also agreed to be transferred to the assessee. in consideration of the transfer of the technical know-how, the assessee-company was to pay to arborites private limited a royalty calculated at the rate of rs. 100 per ton of the contract product manufactured. the assessee entered ..... leading to an opposite conclusion) for treating such an expenditure as properly attributable riot to revenue but to capital.'8. the observations of the supreme court in empire jute co. ltd. v. cit : [1980]124itr1(sc) to the effect that if disbursement is made for acquisition of a source of profit or income, it would .....
Tag this Judgment!Court : Kerala
Reported in : [1998]229ITR789(Ker)
..... in regard thereto. copious references to the standard treatises not only on the first principles of accounting, but also advanced accounting, relevant provisions of the companies act, 1956 (especially section 208 thereof), together with decided cases not only of the apex court, but also of english cases will find adorning the ..... conclusion is reached, the income-tax officer has passingly referred to the following decisions, viz., cit v. new central jute mills co. ltd. : [1979]118itr1005(cal) , addl cit v. madras fertilisers ltd. : [1980]122itr139(mad) , traco cable company ltd. v. cit : [1969]72itr503(ker) and madhya pradesh state industries corporation ltd. v. cit : ..... study on expenditure during construction period' by the research committee of the institute of chartered accountants of india.35. the calcutta high court in cit v. new central jute. mills co. ltd. : [1979]118itr1005(cal) , also relying on the decision of the apex court in challapalli sugars ltd.'s case : [1975]98itr167( .....
Tag this Judgment!Court : Kerala
Reported in : I(1993)ACC445; 1993ACJ371
..... (2) even though, as between the insurer and the insured, the limit of liability of the insured is unlimited.39. but, in practice, in our country, the nationalised insurance companies have been paying directly to the third party, the amount up to the limit covered by the extra premium, even though the limit under section 95(2) may be ..... section 95(1)(b). the proviso to section 4(1) corresponds to section 95(2) limiting the liability of the insurance company to $ 24,000 and to other amounts in various situations. again, section 6(1) of the act corresponds to section 96(1) while section 6(4) corresponds to section 96(4). their lordships followed the decision in ..... for $ 100,000 and costs by consent. the respondent-claimant wanted that the entire sum be paid by the insurer-appellant even though by virtue of the provisions of the act of 1943, the statutory liability was restricted to $ 24,000. the court of appeal at bermuda held the appellant liable for the whole amount. allowing the appeal, their .....
Tag this Judgment!Court : Kerala
Reported in : AIR2006Ker111; 2005(4)KLT709
..... sale deed would be at the rate as applicable at the time of registration and not any time before.15. in terrapin international ltd. case (supra), the appellant-company entered into an agreement dated 16-4-1974 with another corporation for exchange of their respective freehold properties. the deed of exchange and the duplicate thereof were sealed and ..... capable of different meanings depending on the context, as is clear from the above, in the case of the kerala stamp act also, the words should be given the meaning which the context demands.14. in crompton engineering company's case (supra), the madras high court was dealing with a case regarding stamp duty payable on a mortgage deed which ..... b) from the terms of section 3(a) as also from the explicit terms of section 17 of the kerala stamp act. that appears to be the ratio of the decision of the supreme court in new central jute mills v. state of west bengal, reported in air 1963 sc 1307, although the facts of the case perhaps constitute an .....
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Reported in : AIR2003Ker61
..... clause 70.1 and already met by the department. contention of the claimant is that the claim would come under clause 70.2. claimant submitted that nationalised banks are duly constituted authority in terms of the provision in clause 70.2 and increased bank guarantee charges and extra bank guarantee charges paid by the ..... award would be contrary to the public policy for the reason that such enforcement would involve contravention of the provisions of fera, would amount to penalising the company for not disregarding the interim orders passed by the high court in the writ petition filed by it, would enable recovery of compound interest on interest, ..... import of goods and services and prospects of number of projects aided by the world bank. consequent changes naturally reflected in domestic arbitration as well. the new act, therefore, provides for a detailed statutory framework for the conduct of independent conciliation proceedings outside the court. it is based on the conciliation rules adopted; .....
Tag this Judgment!Court : Kerala
Reported in : 2010(1)KLT65
..... pointed attention to the earlier affidavits filed on behalf of bharat coking coal company and commented severally on the alleged contradictory reasons given therein for the exclusion of certain coke oven plants from the coking coal mines (nationalisation) act. but, in the ultimate analysis, we are not really to concern ourselves ..... facilitating promotion, development and enhancing competitiveness of such enterprises and to make recommendations to the central government concerning the above matters. chap. iv of the act deals with the measures for promotion, development and enhancement of competitiveness of micro, small and medium enterprises. it deals with the measures for promotion ..... .8. before dealing with the rival submissions on the validity of section 19, we would briefly refer to the scheme of the act. it is an act to provide for facilitating promotion and development and for enhancing the competitiveness of micro, small and medium enterprises and for matters connected therewith .....
Tag this Judgment!Court : Kerala
Reported in : (2005)193CTR(Ker)393; 2005(1)KLT173
..... reference to the date of deposit.26. 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 ..... 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) .21. the counsel for government of india (taxes) has filed a statement stating that the amounts payable ..... from the land acquisition officer and he cannot be allowed to raise a contention that the land acquisition officer is not entitled to deduct amount payable under the income tax act.adjustment of the amount deposited:30. the learned counsel appearing for the respondent, relying on the decisions reported in meghraj and ors. v. mst. bayabai and ors. .....
Tag this Judgment!Court : Kerala
Reported in : (1987)60CTR(Ker)196; [1986]161ITR36(Ker)
..... information about further improvements in the technical know-how was also agreed to be transferred to the assessee. in consideration of the transfer of the technical know-how, the assessee company was to pay to arborites (p.) ltd. a royalty calculated at the rate of rs. 100 per ton of the contract product manufactured. there was a further agreement ..... the absence of special circumstances leading to an opposite conclusion) for treating such an expenditure as properly attributable not to revenue but to capital.'7. in the decision in empire jute co. ltd. v. c1t : [1980]124itr1(sc) , the supreme court observes at page 12 :'now it is true that if disbursement is made for acquisition of a ..... held to be capital in nature to beadded to the cost of machinery and plant and the assessee was held entitled to depreciation and development rebate admissible under the act.4. the assessment relates to the year 1967-77. the claim of the assessee was for deduction of rs. 34,779 paid by way of royalty under the .....
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