Court : Rajasthan
Reported in : (1994)120CTR(Raj)1; [1994]210ITR906(Raj)
..... the warehousing corporations act, 1962, which enjoins upon a state warehousing corporation to act as an agent of the central warehousing corporation of the government for the purpose of purchase, sale, storage and distribution of agricultural produce, seeds, manures, fertilizers, agricultural implements and individual commodities. these activities of the state warehousing corporation as an ..... income mainly from letting out the warehouses, interest, trading in agricultural products on behalf of the food corporation of india and the state government. it was claimed before the income-tax officer that the entire income of the corporation is exempted under section 10(29) of the act. the ..... the opinion that the income-tax appellate tribunal was not justified in coming to the conclusion that the procurement of grains for the state government/food corporation of india, interest could be considered as integrated activity (sic). similarly, the interest which the assessee has received from the banks .....
Tag this Judgment!Court : Rajasthan
Reported in : 1992WLN(UC)442
..... ifco, namely:(i) agricultural credit/marketing/processing/supply cooperative federationsof natural level and other agriculture cooperative societies;(ii) agricultural credit/marketing/processing/supply cooperative federations of state-level and other agriculture cooperative societies;(iii) cooperative credit/marketing/supplies societies of district, regional and primary level;(iv) primary agricultural cooperative credit services, multipurposes, sugarcane, irrigation, agriculture societies and other village agriculture societies;(v) national cooperative development corporation;(vii government of india. ..... 12 of the constitution see a.l. kalra v. the project and equipment corporation of india ltd. : (1984)iillj186sc .30. gujarat state financial corporation was a corporation set up under section 3 of the state financial corporations act, 1951. it was an instrumentality devised to provide medium and long term credit to the industrial concerns inter alia hotel-industry. it was not disputed in .....
Tag this Judgment!Court : Rajasthan
Reported in : (1996)133CTR(Raj)34
..... extended for the interpretation of s. 80p(2)(a)(i) of the act.reliance was also placed by the tribunal on the decision of the u. p. state ware housing corporation vs . ito : [1974]94itr129(all) , where it was held that s. 10(29) of the it act applies only to an authority constituted for the marketing ..... qualifies for exemption under s. 80p(2)(a)(i). since this income is on the business transaction from c class members and is not attributable to extending credit facility, the amount was disallowed from exemption claim. the cit(a) following the judgment of the tribunal for the immediately preceding year, allowed deduction and the second ..... concept of marketing will include all activities connected with the process of taking over from the agricultural produce members and handing over marketable commodities to the purchaser and all the intermediate processes connected with the marketing of the agricultural produce of the members. it was held that the term marketing cannot be restricted only to .....
Tag this Judgment!Court : Rajasthan
Reported in : 2000(2)WLC257
..... let us deal with the plea that the petitioner was director representing producers of agricultural products and was replaced by an official. after all, the corporation is controlled by official directors and it is not necessary for the state government to appoint any private directors to represent particular sections of the community. rule ..... date of appointment as per the rules. on 31 -12-1998, the state government nominated shri n. r. bhasin, principal secretary to government of rajasthan, agriculture department, as the director and chairman of the board of director of the corporation in place of the petitioner surendra pal singh tt. aggrieved by this ..... singh tt was nominated director and chairman of the rajasthan state warehousing corporation (hereinafter referred to as the corporation). he was nominated as director in place of the earlier incumbent of the office shri ramnath verma, as a representative of the producers of agricultural products. in the appointment order dated 25-6-1998 ( .....
Tag this Judgment!Court : Rajasthan
Reported in : 1972WLN553
..... then came to executive committee of u.p. state warehousing corporation v. chandra kant tyagi air 1970 sc 244, to which reference has been made already. the petitioner there was an employee of the up warehousing corporation, which was constituted under the agricultural produce (development and warehousing) corporations act, 1966. their lordships of the supreme court ..... was also not noticed. in these circumstances, with all respect, i am unable to subscribe to the view taken in s.v. raman v. madras state warehousing corporation : air1971mad431 . the learned counsel for the respondents have relied on two decisions of their lordships of the andhra pradesh high court in kailash pati v ..... connection may also be made to u p state warehousing lucknow v. chandra kant tyagi air 1970 sc 244 where their lordships of the supreme court have taken the view that the regulations made under section 54 of the agriculture produce (development and warehousing) corporations act, 1956, do not impose any statutory .....
Tag this Judgment!Court : Rajasthan
Reported in : RLW2008(1)Raj791
..... -official members of the public nominated by the government;(k) food commissioner for the state of rajasthan or his nominee;(1) managing director, rajasthan state warehousing corporation;(m) regional manager, food corporation of india;(n) the director of agricultural marketing for the state of rajasthan.the chairman and vice-chairman of the board shall be appointed by the ..... (1) there shall be a fund called the marketing development fund, which shall be administered by the board.(2) all receipts of the board shall be credited, and all expenditure incurred by the board in the discharge of its duties, shall be debited to the marketing development fund.12. sections 22-1 and 22 ..... the act that relate to marketing development fund read thus:22.-i. sums of money to be credited to the marketing development fund and investment of the surplus. 1) the following sums of money shall be credited to the marketing development fund:(i) any grants or loans sanctioned by government;(ii) contributions received .....
Tag this Judgment!Court : Rajasthan
Reported in : [2009]176TAXMAN404(Raj)
..... or(iii) a government company as defined in section 617 of the companies act, 1956 (1 of 1956), or a corporation established by or under a central, state or provincial act, (being a company or corporation engaged in supplying milk, oilseeds, fruits or vegetables, as the case may be, to the public),the whole of the ..... individuals who contribute their labour or, as the case may be, carry on the fishing or allied activities;(2) the co-operative credit societies which provide financial assistance to the society;(3) the state government;(b) in the case of a co-operative society, being a primary society engaged in supplying milk, oilseeds, fruits, or ..... in-(i) carrying on the business of banking or providing credit facilities to its members, or(ii) a cottage industry, or(iii) the marketing of the agricultural produce grown by its members, or(iv) the purchase of agricultural implements, seeds, livestock or other articles intended for agriculture for the purpose of supplying them to its members, or( .....
Tag this Judgment!Court : Rajasthan
Reported in : [1993]204ITR713(Raj); 1992(2)WLN163
..... extended for the interpretation of section 80p(2)(a)(i) of the act.5. reliance was also placed by the tribunal on the decision in u. p. state warehousing corporation v. ito : [1974]94itr129(all) , where it was held that section 10(29) of the income-tax act applies only to an authority constituted for ..... cit v. karjan co-operative cotton sale, ginning and pressing society ltd. : [1981]129itr821(guj) and of the karnataka high court in cit (addl.) v. ryots agricultural produce co-operative marketing society ltd. : [1978]115itr709(kar) , wherein the question was with regard to the interpretation of the provisions of section 80p(2)(a)(iii), ..... qualifies for exemption under section 80p(2)(a)(i). since this income is on the business transactions from 'c' class members and is not attributable to extend credit facility, the amount was disallowed from exemption claim. the commissioner of income-tax (appeals), following the judgment of the tribunal for the immediately preceding year, allowed .....
Tag this Judgment!Court : Rajasthan
Reported in : [1998]229ITR252(Raj)
..... under ;'in respect of any special reserve created by a financial corporation which is engaged in providing long-term finance for industrial or agricultural development in india, an amount not exceeding -- (a) in the case of a financial corporation or a joint financial corporation established under the state financial corporations act, 1951 (63 of 1951), or an institution deemed ..... income could be assessed in the hands of the company on accrual basis as it would be very unrealistic on the part of the assessee to take credit for a highly illusory interest. from the said decision, it was inferred that an assessee who is following the mercantile system of accounting, under certain circumstances ..... year 1977-78 has been given except that the decision in the case of the kerala high court was against the assessee. the case of cit v. motor credit co. p. ltd. : [1981]127itr572(mad) was also taken into consideration and it was found that the assessee was following the hybrid system of accounting. .....
Tag this Judgment!Court : Rajasthan
Reported in : (1998)ILLJ723Raj; 1997(3)WLC440; 1997(1)WLN613
..... the authority of the central government or in, relation to an industrial dispute concerning the industrial finance corporation of india, the employees' state insurance corporation, the indian airlines, the air india corporation, the life insurance corporation, the agricultural. refinance corporation, the deposit insurance corporation, the unit trust of india, the food corporation of india, regional rural bank, or the banking service commission or a banking or an insurance company ..... the oil and natural gas commission act, 1959 (43 of 1959), or the deposit insurance and credit guarantee corporation established under section 3 of the deposit insurance and credit guarantee corporation act, 1961 (47 of 1961), or the central warehousing corporation established under section 3 of the warehousing corporations act, 1962 (58 of 1962), or the unit trust of india established under section 3 of the .....
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