Court : Andhra Pradesh
Decided on : Apr-25-1980
Reported in : [1982]134ITR158(AP)
..... of the following financial institutions, namely:- (a) a state financial corporation established under the state financial corporation act, 1951 (63 of 1951); (b) the industrial development bank of india, established under the industrial development bank of india act, 1964 (19 of 1964); (c) the madras industrial and investment corporation of india ltd.; (d) the re-finance corporation for industry ltd.; (e) the life insurance corporation of india established under the life insurance corporation act, 1956 (31 of 1956); (ii) 'tax' means - (a) income-tax or super tax ..... assessment year, of its paid up share capital and of its reserve, if any, created under the proviso (b) to clause (vi) of sub-section (2) of section 10 of the indian income-tax act, 1922 (11 of 1922), or under sub-section (3) of section 34 of the income-tax act, 1961 (43 of 1961), and of its other reserves in so far as the amounts credited to such other reserves have not been allowed in computing its profits for the purposes ..... objective of rapid industrialisation by attracting otherwise qualified entrepreneurs but (who are) only starved of finances. there is no warrant for limiting the scope of the expression 'capital employed' by excluding therefrom borrowings by or advances made to the assessees, in the application of s. 80j. in so far as r. 19a(3) directs that borrowings of and debts due by the assessee should be excluded from the capital employed is contrary to the intendment of s. 80j. in so providing it does not .....
Tag this Judgment!Court : Andhra Pradesh
Decided on : Jul-14-1980
Reported in : [1981(42)FLR132]; (1980)IILLJ474AP
Choudary, J.1. This is an appeal preferred by the Management of the Deccan Chronicle against judgment of the Employees' Insurance Court, made in E.I. Case No. 47 of 1976 dated 14th March, 1977, holding that the quarterly payments made to certain categories of employees of the Deccan Chronicle under a settlement entered into between the management and the workmen under S. 12(3) of the , on 31st March, 1973, as subsequently revised on 28th April, 1976 constitute as and account for wages within the meaning of S. 2(22) of the Employees' State Insurance Act, 1948. 2. It appears that the management of the Deccan Chronicle and their employees had originally entered into an agreement on 3rd September, 1970, whereunder it is provided, that the employees of the Deccan Chronicle working in the departments of job, news, lino and rotary sections, etc., should he paid a special allowance once in every quarter for the extra work done over and beyond norms in connection with the extra pages on certain...
Tag this Judgment!Court : Andhra Pradesh
Decided on : Sep-12-1980
Reported in : AIR1981AP50
1. The plaintiff in the suit for recovery of money on the basis of multi-purpose Life Insurance Policy -- Ex. A-4, is the appellant. The Life Insurance Corporation of India is the sole defendant in the suit. The plaintiff is the widow of late Mohd. Jafar Ali, a practising advocate at Warangal. He was the holder of Multipurpose policy Ex. A-4 issued by the defendant for an assured amount of Rs. 5,000/-. The policy commenced on 28-3-1962. Payment of premiums was in quarterly instalments. Each quarterly premium was Rs. 79-06. Jafar Ali paid the premiums regularly up to 28-6-1972. But owing to some unforeseen circumstances, he could not pay the premium due on 28-9-1972 in time. He however, paid this premium as well as the quarterly premium payable on 28-12-1972, on 2-4-1973 at Warangal branch office of the defendant-Corporation. The premium due on 28-3-1973 was paid on 5-4-1973. The insured, offered to give a personal declaration of health on 2-4-1973. But D.W. 2, the Branch Manager did no...
Tag this Judgment!Court : Andhra Pradesh
Decided on : Nov-17-1980
Reported in : [1982]49STC83(AP)
ORDER1. The order of the Court was made by MADHAVA REDDY, J. - In this batch of cases (W.P. No. 5468 of 1979, T.R.C. No. 35 of 1980 and W.P. No. 5405 of 1980) the question that falls for consideration is : 'Whether the sales tax amount realised by the dealer in selling liquor could be included in arriving at the total amount of turnover for assessing the sales tax due from the dealer under the Andhra Pradesh General Sales Tax Act (hereinafter referred to as the 'Act') ?' 2. The petitioner in W.P. No. 5468 of 1979 which is a partnership firm deals in liquors and beer. It sells liquor and beer under bills of sale and delivers the goods on payment of the money charged under the bill. But the sales tax payable thereon is not included in the bill; it is collected and kept in suspense account by way of separate debit notes after the goods are delivered to the buyer. The petitioner-firm has been making monthly returns of the turnover from December, 1978, to March, 1979, but has not been inclu...
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