Court : Kerala
Reported in : (2006)205CTR(Ker)593; [2006]286ITR389(Ker)
..... of the reserve bank of india act, 1934 (2 of 1934), or any primary credit society as defined in clause (civ) of that section ;(v) the life insurance corporation ..... of india established under section 3 of the life insurance corporation act, 1956 (31 of ..... act, 1949 (10 of 1949) ;(ii) the state bank of india or any subsidiary bank as defined in section 2 of the state bank of india (subsidiary banks) act, 1959 (38 of 1959);(iii) any co-operative bank or land mortgage bank ;(iv) any primary agricultural credit society as defined in clause (cii) of section 2 .....
Tag this Judgment!Court : Kerala
Reported in : 2006(3)KLT38
..... co-operative bank subscribing to the share capital of such cooperative society out of funds provided by the state government for the purpose;(ccvi) 'primary credit society' means a co-operative society, other than a primary agricultural credit society,-(1) the primary object or principal business of which is the transaction of banking business;(2) ..... as follows:32. incorporation, regulation and winding up of corporation, other than those specified in list i, and universities; unincorporated trading, literacy, scientific, religious and other societies and associations; co-operative societies.'banking' comes ..... act, the provisions of the banking regulation act cannot be applicable appears to be untenable. it is true that provisions regarding incorporation and winding up of corporation other than those specified in list i and co-operative societies are coming under list ii of item 32, item no. 32 of list ii is .....
Tag this Judgment!Court : Kerala
Reported in : 2006(1)KLT989; [2006]145STC250(Ker)
..... lamp & electricals ltd. : [1973]2scr973 , secretary to government of madras v. p.r. srimmulu and anr. : air1996sc767 , hoechst pharmaceutical ltd, v. state of bihan : [1985]154itr64(sc) and calcutta municipal corporation v. shrey mercantile (p) ltd. : air2005sc1879 , to' establish his contention. sri. e.p.govindan, counsel appearing for the petitioner in wp(c). 35329 ..... security measures for the legal profession, shall be entrusted to the secretary, bar council of kerala who is the convener of the advocate welfare fund for crediting the same to that fund constituted under the kerala advocates welfare fund act, 1980 for being utilized in accordance with the provision of that act. ..... the light of the government notification sro.no. 225/02 and the clarification issued by the state government vide letter no. 16527/g3/200/law dt. 24.3.2003 by which appeals and revisions to the kerala agricultural income tax & sales tax appellate tribunal would attract additional court fees under the court fees and .....
Tag this Judgment!Court : Kerala
Reported in : 2005(3)KLT1036
..... and collection of land conversion cess) rules, 2003, published by the government as sro no. 189/2003 in respect of land situated in municipalities, municipal corporations and town panchayaths. this is a levy authorised by section 230(3) of the kerala municipalities act, 1994. the procedure for collection of cess is gatherable ..... even offend principles of perpetuity. it has not been suggested how anyone would compensate her loss.5. the agricultural officer has certified that the land in question is unfit for cultivation. it is also stated that the conversion of the land will not affect the properties nearby. these alone appear to be the ..... steps were taken for development, objections had forthcome from respondents 4 to 6 claiming that since the filling up of the land may adversely affect other agricultural operations and work opportunities, especially in respect of the rest of the padasekharam. however, petitioner submits that when lawful permission is received, after the recommendation .....
Tag this Judgment!Court : Kerala
Reported in : AIR2003Ker299; [2003]116CompCas505(Ker); 2003(1)KLT69
..... means a society registered under the cooperative societies act, 1912 (central act) or any law relating to co-operative societies for the time being in force in any state. therefore, a primary agricultural credit society to which the banking regulation act, 1949 itself does not apply is only a cooperative society registered under the provisions of the kerala co-operative societies act, 1969 ..... bank case, the reserve bank is the central bank for india. its position is as a bankers' bank. it has control over the banking companies and banking in india. in corporation bank v. d.s. gowda reported in 1994 (5) scc 213 at paragraph 16 the apex court held as follows:- ......... as pointed outearlier, under the banking regulation act wide powers .....
Tag this Judgment!Court : Kerala
Reported in : [2002]108CompCas277(Ker)
..... compounded if the loan or instalment became overdue. in the present case the bank has charged interest compounded on quarterly rests. if actually the loan is an agricultural loan, probably the crediting of interest with quarterly rests may not be justified under the aforesaid decision ; but even so that is a matter which can be raised only through ..... nullity on the ground that interest claimed was in excess of the rates allowed by the reserve bank of india through directions and circulars issued from time to time. 10. corporation bank v. d.s. gowda [1994] 81 comp cas 842 (sc); [1994] 2 bc 613 is relied on by the petitioner to contend that the directives ..... to scrutiny by courts.-- notwithstanding anything contained in the usurious loans act, 1918 (10 of 1918), or any other law relating to indebtedness in force in any state, a transaction between a banking company and its debtor shall not be reopened by any court on the ground that the rate of interest charged by the banking company .....
Tag this Judgment!Court : Kerala
Reported in : (1999)152CTR(Ker)63; [1999]236ITR185(Ker)
..... or a co-operative society engaged in carrying on the business of banking (including the kerala state co-operative agricultural and rural development bank), or (iii) deposited in an account with the kerala financial corporation established under the state financial corporations act, 1951 (central act 63 of 1951). explanation.--for the purposes of sub-clause (ii ..... it was renewed up to the year 1997-98 as per exhibits p-4, p-5, p-6 and p-7.3. it is stated that the kerala agricultural income-tax act, 1991 (act 15 of 1991), has introduced a provision in section 9(2) of the said act providing for exemption ..... ), 'scheduled bank' means the state bank of india constituted under the state bank of india act, 1955, a subsidiary bank as defined in the state .....
Tag this Judgment!Court : Kerala
Reported in : (1997)143CTR(Ker)90
..... income from the grape garden represented the assessees income actually and, in fact, the assessees had given the colour of agricultural income to their otherwise taxable income. in the process of reasoning, the tribunal reached the conclusion that the six assessees ..... guardian-father. the consideration amount of rs. 2,95,000 was drained out through the firm m/s national cashew corporation, trivandrum. in fact, this trivandrum firm had an account styled as hyderabad account showing debits of the payments and ..... question. correspondingly, in the books of the grape garden accounts, each of the partners - these six assessees - were credited with the profits of grape garden divided equally between them.2. initially, the original assessment in respect of these six ..... rs. 57,790. this amount came to be reduced to rs. 45,350 before the appellate authority. needless to state that simultaneous penalty proceedings under s. 271(1)(c) of the it act, 1961 were initiated resulting into the imposition of .....
Tag this Judgment!Court : Kerala
Reported in : [1998]233ITR521(Ker)
..... from the grape garden represented the assessees' income actually and, in fact, the assessees had given the colour of agricultural income to their otherwise taxable income. in the process of reasoning, the tribunal reached the conclusion that the six assessees ..... by their guardian father. the consideration amount of rs. 2,95,000 was drained out through the firm, national cashew corporation, trivandrum. in fact, this trivandrum firm had an account styled as 'hyderabad account' showing debits of the payments and ..... in question. correspondingly, in the books of the grape garden accounts, each of the partners--these six assessees--were credited with the profits of grape garden dividend equally between them.2. initially, the original assessment in respect of these ..... rs. 57,790. this amount came to be reduced to rs. 45,350 before the appellate authority. needless to state that simultaneous penalty proceedings under section 271(1)(c) of the income-tax act, 1961, were initiated resulting into the .....
Tag this Judgment!Court : Kerala
Reported in : AIR1996Ker241
..... pradesh non-agricultural lands assessment act can be levied on the lessee corporation. the writ petitioner-electronic corporation was served with a demand notice under the above act and it was resisted by the petitioner on the ground that it was a leassee of the land which belongs to the union of india and, therefore, tax cannot be levied by the state legislature. ..... after considering the objections filed by the fci the municipality ultimately issued ext. p12(a) and p12(b) demanding a sum of rupees 1,31,080.80 after giving credit to rupees 56,954.70 refundable to it. exts. p13 and p14 are the bills issued by the municipality demanding service charges for the year 1986-1987 (first and ..... .50 towards service charges for the period 1968-1969 to 1972-1973 (first half) calculated at the rate of rs. 19,373.00 per year and that after giving credit to rs, 56,954.70 being the property tax already collected for the aforesaid period, the petitioner is liable to pay a further amount of rs. 30,223.80. .....
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