1
Court : Allahabad
Decided on : Apr-23-2014
Rajes Kumar, J. 1. Heard Sri RK Upadhayay, learned Senior Standing Counsel and Sri Ashish Bansal appearing on behalf of the respondent. 2. This is an appeal under section 260 (A) of the Income Tax Act (herein after referred to as "the Act") relating to the assessment year 1988-89 raising the following substantial questions of law: "(1) whether, on the facts and in circumstances of the case, the Tribunal is justified in holding that the business of the assessee remained the same, because the criterion is not the nature of business but the unit of control and common management? (2) whether in view of the proviso to clause (i) of sub section (1) of Section 72 of the Act, the Tribunal is justified in holding that the assessee is entitled to claim of set off of past losses against the income of the current assessment year 1988-89?" 3. Brief facts of the case are that for the assessment year in dispute, the respondent assessee (herein after referred to as "the assessee") filed the return sho...
Tag this Judgment!Court : Allahabad
Decided on : Jan-31-2014
Dinesh Gupta, J. 1. The petitioners-appellants retired serving in Fatehpur District Cooperative Bank Ltd.-a Cooperative Society registered under the U.P. Cooperative Societies Act, engaged in the business of banking, under the Banking Regulation Act, 1954, (the Bank) with its area of operation in the State of UP. In these Special Appeals they have assailed the judgement delivered by learned Single Judge on 5.7.2005, by which he dismissed the writ petitions filed by them challenging the orders passed by the Prescribed Authority, under the Payment of Gratuity Act, rejecting their applications for payment of gratuity calculated at one months salary (inclusive of dearness allowance) for every completed year of service and interest thereon @ 18% on account of delay in payment of the total amount. All the appellants retired sometimes in the year 1995 on attaining the age of superannuation. The Bank sent letters to them accepting its liability to pay gratuity to them calculated at the rate of...
Tag this Judgment!