Court : Kerala
Reported in : AIR1962Ker267
..... the conclusion about the policy underlying the statute and the object intended to be achieved by it.128. in my opinion, the classification of a banking company, the reserve bank of india, the state bank of india and the co-operative banks also functioning under another act, as not coming within the bar of section 49a is perfectly rational and is based on an intelligible differentia. the ..... based upon the section being discriminatory under article 14 of the constitution. according to mr. t. s. krishnamoorthy ayyar, the co-operative banks, banking companies, the reserve bank, and the state bank of india have been given a special privilege and all other persons doing banking business, have been discriminated against.115. according to mr. t. s. krishnamoorthy ayyar, there is no nexus between the persons discriminated .....
Tag this Judgment!Court : Kerala
Reported in : AIR1966Ker6
..... :'in the instant case, in view of the history of the establishment of the reserve bank as a central bank for india, its position as a bankers' bank, its control over banking companies and banking in india, its position as the issuing bank, its power to license banking companies and cancel their licences and the numerous other powers, it is unanswerable that between ..... the provisions in that act are violative of article 19(1)(f) of the constitution and the following passage from the judgment reported in lachhman dass v. state of punjab, air 1963 sc 222 is apposite.'the learned advocate-general who appeared for the respondents, contends at the very outset, that article 19(1)(f ..... such licences'and in the same case subba rao, j., who wrote the minority judgment, said:--'a fundamental right to do business can be controlled by the state only by making a law imposing in the interest of the general public reasonable restrictions on the exercise of the said right; restrictions on the exercise of .....
Tag this Judgment!Court : Kerala
Reported in : AIR1972Ker47
..... all other companies are public. all private companies are closely held companies. all companies owned by government or the reserve bank of india or in which they or a corporation owned by the reserve bank of india hold not less than 40 per cent, of the shares are widely held companies. public companies the affairs of which ..... shares of any company is not sufficiently widespread, the company will have to pay some additional tax. having regard to the economic objective of the state to bring about reduction in the inequalities of wealth amongst different sections of the public the classification of companies between widely-held and closely-held is fully ..... or acquired unconditionally by, and were throughout the relevant previous year beneficially held by- (a) the government, or (b) a corporation established by a central, state or provincial act, or (c) any company to which this clause applies or any subsidiary company of such company where such subsidiary company fulfils the condition laid down .....
Tag this Judgment!Court : Kerala
Reported in : [1973]87ITR175(Ker)
..... for domesticated animals and birds can be treated to be a charitable purpose, for charities constituted prompted by feelings of kindness are treated as charitable purposes in india though they may not be charitable purposes in england. the other provisions on which emphasis had been laid by counsel for the revenue, 2(g), the ..... of the business. this is clear from the trust deed which is part of annexure ' a' at page 21 thereof. the relevant part of the declaration states:' ...............do hereby create, declare and constitute a trust governing and in respect of the business and industries and properties described in the schedule and annexed hereto...... under ..... untouchability, uplift of women, medical research, chemical research and for other similar charitable purposes. (i) to open current and time deposit account with any banker or bank, shops or merchants or individuals and pay into and draw money from such accounts and generally to operate on all such accounts. (m) to receive money on .....
Tag this Judgment!Court : Kerala
Reported in : [1973]91ITR313(Ker)
..... all other companies are public. all private companies are closely held companies. all companies owned by government or the reserve bank of india or in which they or a corporation owned by the reserve bank of india hold not less than 40 per cent, of the shares are widely held companies. public companies the affairs of which ..... shares of any company is not sufficiently widespread, the company will have to pay some additional tax. having regard to the economic objective of the state to bring about reduction in the inequalities of wealth amongst different sections of the public the classification of companies between widely-held and closely-held is fully ..... or acquired unconditionally by, and were throughout the relevant previous year beneficially held by- (a) the government, or (b) a corporation established by a central, state or provincial act, or (c) any company to which this clause applies or any subsidiary company of such company where such subsidiary company fulfils the condition laid down .....
Tag this Judgment!Court : Kerala
Reported in : [1975]98ITR291(Ker)
..... of the enactment is recognised as a proper method of construction by the supreme court in the case of hindustan ideal insurance co. v. life insurance corporation of india, : [1963]2scr56 . in support of this proposition the supreme court also relies on a decision of the house of lords. craies on statute law also ..... or acquired unconditionally by, and were throughout the relevant previous year beneficially held by -- (a) the government, or(b) a corporation established by a central, state or provincial act, or(c) any company to which this clause applies or any subsidiary company of such company where such subsidiary company fulfils the conditions laid down in ..... been allotted unconditionally to, or acquired unconditionally by, and were throughout the previous year beneficially held by the government or a corporation established by a central, state or provincial act or the public (not including a company to which the provisions of this section apply), it was treated as a company in which the .....
Tag this Judgment!Court : Kerala
Reported in : AIR1975Ker169
..... before 31-3-1965. the assets and liabilities of the chaldean syrian bank became merged in the appellant-bank with effect from 1-10-1965 as per the order, ext. a-11 issued by the director of banking under sub-sections (2) and (3) of section 38 of the state bank of india (subsidiary banks) act of 1959. the first respondent was called upon by the appellant ..... -bank to confirm the correctness of the amount entered in the bank accounts and the balance due on 1-10-1965 under the two transactions .....
Tag this Judgment!Court : Kerala
Reported in : [1975]36STC492(Ker)
..... the madras high court (burmah shell oil storage and distributing co. of india ltd., madras v. state of madras [1968] 21 s.t.c. 227), reading as follows:that the sales of scrap by the assessee is not liable to tax, is covered by the ..... of the madras high court from which the appeal was taken and which appeal gave rise to the decision of the supreme court in state of tamil nadu v. burmah shell oil storage and distributing co. of india ltd. [1973] 31 s.t.c. 426 (s.c.), and invited our attention to a short paragraph, the last one in the judgment of ..... fully.4. the above argument has been met by the counsel for the assessee by relying on the decision of the supreme court in state of tamil nadu v. burmah shell oil storage and distributing co. of india ltd. [1973] 31 s.t.c. 428 (s.c.) the supreme court had therein to consider a statute (the madras general sales tax act .....
Tag this Judgment!Court : Kerala
Reported in : (1976)5CTR(Ker)0039B
..... storage and distributing co. of india ltd madras vs. state of madras), reading as follows :'that the sales of scrap by the assessee is not liable to tax, is covered by the principle of out judgment in t.c. ..... of the madras high court from which the appeal was taken and which appeal gave rise to the decision of the supreme court in state of tamil nadu vs. burmah shell oil storage and distributing co. of india ltd., and invited our attention to a short paragraph, the last one in the judgment of the madras high court (burmah shell oil ..... fully.4. the above argument has been met by the counsel for the assessee by relying of the decision of the supreme court in state of tamil nadu vs. burmah shell oil storage and distributing co. of india ltd. the supreme court had therein to consider a statute (the madras general sales tax act, 1959), which contained the definition of the .....
Tag this Judgment!Court : Kerala
Reported in : AIR1978Ker201
..... defined in section 2 (k) of the state bank of india (subsidiary banks) act as any 'new bank'. section 3 of the said act defines 'new banks' as banks enumerated thereunder constituted by the central government and one of them is the state bank of travancore. thus the respondent bank is one established by the central government in accordance with the state bank of india (subsidiary banks) act, 1959 and it is not a ..... division bench considered that it was desirable that the matter be examined and pronounced upon by a larger bench.2. when the state bank of travancore, a subsidiary bank within the meaning of clause (k) of section 2 of the state bank of india (subsidiary banks) act, 1959 took out execution of the decree in o. section no. 28 of 1963 in the sub court of kottayam .....
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