Court : Mumbai
Decided on : Apr-18-1966
Reported in : [1966]61ITR493(Bom)
..... act. sub-section (1) of section 2 of the finance act, 1965, provides : 'subject to the provisions of sub-sections (2), (3), (4) and (5), for the assessment year commencing on the 1st day of april, 1965, income-tax shall be charged at the rates specified in part 1 of the first schedule....' 7. part 1 of the first schedule is divided into various sub-paragraphs, and we are concerned with paragraph f. the material part thereof reads : 'in the case of every company, other than the life insurance corporation of india established under the life insurance corporation act, 1956 (31 of 1956 ..... constitution of india, the petitioner seeks to get quashed the order of 12th october, 1965, made by the first respondent provisionally assessing the petitioner-company to tax under section 141 of the indian income-tax act (act xliii of 1961), hereinafter referred to as the act, and the notice of demand of the same date issued pursuant thereto as calling upon the petitioner to pay the balance of the tax payable amounting to rs. 31,74, ..... , or not, and on that question of fact it was an admitted position that it was not a determined loss. here what the income-tax officer has done is not determination of a pure question of law as to the application of the opposite law to the uncontroverted facts of the case. he has proceeded to decide the question of fact, namely, as to whether the petitioner was engaged in the business of manufacture or production of mineral oil or not, and it is after the determination .....
Tag this Judgment!Court : Mumbai
Decided on : Aug-20-1966
Reported in : [1967]37CompCas546(Bom); 1967MhLJ557
..... to the building which belongs to the company. he agreed to sell the building to yeshwant mutual insurance company in possession and during the course of the last few years that company has recovered by way of rent an amount larger than the one which it had life insurance corporation of india which has very properly taken the view it will not enforce the agreement ..... earlier, the appeal was withdrawn. 5. on september 12,1964, that is more than ten years after the winding up order was passed, an application was filed in the district court, poona, by five persons propounding a scheme under section 153 of the indian companies act, 1913, for the reconstruction of the company. three of the five sponsors of the scheme are creditors of the company, while the two others, gopal ganesh ketkar and ..... claims of the value of rs. 4,38,004. thirty-six creditors appeared personally and 88 appeared through proxies. seven creditors representing claims of the value of rs. 43,345 opposed the scheme whereas others holding a total claim of rs. 2,31,399. consented to the scheme. on the material date, the company held deposits of the value of rs ..... belonged to d.b. pathak. the official liquidators did not challenge that part of the decree which was against the company but d.b. pathak filed appeal no. 537 of 1956 in the district court, poona, to challenge the correctness of the decisions that the building belonged to the company. by his judgment dated april 24, 1959, the learned extra-assistant judge, poona .....
Tag this Judgment!Court : Mumbai
Decided on : Aug-20-1966
Reported in : AIR1967Bom456; (1967)69BOMLR261
..... last few years that company has recovered by way of rent an amount larger than the one which it had paid by way of earnest. the insurance company has been taken over by the life insurance corporation of india which has very properly taken the view that it will not enforce the agreement of sale. it is content that the amount paid by way ..... earlier, the appeal was withdrawn.(5) on the 12th of september 1964, that is more than ten years after the winding up order was passed, an application was filed in the district court, poona, by five persons propounding a scheme under section 158 of the indian companies act, 1913, for the reconstruction of the company. three of the five sponsors of the scheme are creditors of the company, while the two others gopal ganesh ketkar and ..... persons representing claims of the value of rs. 4,38,004. 36 creditors appeared personally and 88 appeared through proxies 7 creditors representing claims of the value of rs. 43, 345 opposed the scheme whereas others holding a total claim of rs, 3,31,399 consented to the scheme. on the material date, the company held deposits of the value of rupees ..... belonged to d. b. phatak. the official liquidators did not challenge that part of the decree which was against the company but d. b. phatak filed appeal no. 537 of 1956 in the district court, poona, to challenge the correctness of the decision that the building belonged to the company. by his judgment, dated the 24th of april 1959, the learned extra- assistant judge, poona .....
Tag this Judgment!Court : Mumbai
Decided on : Sep-19-1966
Reported in : AIR1967Bom472; (1967)69BOMLR52; [1967(15)FLR369]; (1967)ILLJ625Bom; 1967MhLJ261; (2008)1SCC(L&S)558
Tarkunde, J.(1) This reference has been made under Section 81 of the Employees' State Insurance Act, 1948 by the Employees' Insurance Court, Bombay, for the decision of two questions of law. The questions submitted by the Employees' Insurance Court are:'(1) Whether rule 17 of the Employees' State Insurance Rules is ultra vires the rule making power of the State Government under Section 96(1) of the Employees' State Insurance Act? (2) The circumstances which have led to these questions are very simple The Employees' State Insurance Corporation (hereinafter referred to as the Corporation) filed an application) in the Employees' Insurance Court , Bombay, against the Opponents who are a manufacturing company for the recovery of the employees' contributions payable under Employees' State Insurance Act, 1948 for the period from 1st September 1957 to 31st July 1963. The application was filed on 7th October 1963. Rule 17 of the Bombay Employees' Insurance Courts Rules, 1959 made by the Governm...
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