Court : Mumbai
Reported in : [2006]131CompCas747(Bom); (2006)5CompLJ282(Bom); [2006]70SCL93(Bom)
..... other orders facilitating a complete transaction of ppil assets and ownership, free of encumbrances to wanbury, to the satisfaction of wanbury, and shall be subject to the successful completion of all the formalities required for securing the consent of unsecured creditors to such other scheme as is proposed with them, and the approval of the shareholders of ppil and wanbury (for the issue of shares, ofcds and ncds under section 81(1a) of the companies act, 1956) have been procured in accordance with law and all approvals have been ..... dues for which charge had been created on the assets of ppil.3.3.2 the amounts that remain outstanding out of the amounts set out in clause 3.1 shall be treated as unsecured loans and the rights of the secured creditors to the extent that the outstanding amounts which remain unpaid after the agreement of the secured creditors to the scheme have been procured shall be the same as those unsecured creditors of ppil.3.4 the secured creditors have also agreed that the payment of the consideration referred to in clause 3.2 shall occur only ..... counsel for the said intervenor would, however, place reliance on the decision of the madras high court in d.a. ..... hormasji, air 1932 rang 154, cunliffe j. .....
Tag this Judgment!Court : Mumbai
Reported in : 2006(2)ALLMR394; 2006(2)MhLj794
..... the trial of any suit in which the matter in issue is directly and substantially in issue in a previously ..... of them claim litigating under the same title where such suit is pending in the same or any other court in india having jurisdiction to grant the relief claimed, or in any court beyond the limits of india established or continued by the central government and having like jurisdiction, or before the supreme court.explanation -the pendency of a suit in a foreign court does not preclude the courts in india from trying a suit founded on the same cause of action.section 10 thus mandates the court not to proceed with ..... on 7.11.03 suit was dismissed as not maintainable because of non-registration of firm under section 693(a) of the indian partnership act, 1932. ..... lastly he has relied upon judgement of madras high court in the case of radhika konel parekh v. .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (2006)99ITD479(Mum.)
..... carrying on its business but was a sum paid in the ordinary course of business to adjust the relation between the assessee and the producers; the termination of the agreements did not radically or at all affect or alter the structure of the assessee's business; the amount received by the assessee was only so received "towards commission", i.e,, as compensation for the loss of the commission which it would have earned had the agreements not been terminated; the amount was not received by the assessee as the price of any capital assets sold or surrendered or destroyed ..... we also note that cit (a) has given following finding, which has not been controverted by the assessee:-- in the present case until entering into an agreement with hinditron tektronix the assessee's business comprised the following income yielding activities:-- (2) acting as distributor cum sales representative for m/s. ..... similar decision was given by hon'ble madras high court in the case of cit v. ..... that sub-section was obviously introduced to prevent the abuse of managing agency agreements being terminated on payment of huge compensation and to nullify the application of the decision in shaw wallace's case [1932] (l.r. 59 la. .....
Tag this Judgment!Court : Mumbai
Reported in : (2005)107BOMLR1160; (2006)201CTR(Bom)207; [2006]285ITR229(Bom)
..... that dismissal of an application for condonation of delay would not amount to a decree and, therefore, dismissal of an appeal as time barred was also not a decree, observed that the earlier judgments of the apex court in mela ram & sons (supra) and sheodan singh (supra) were not brought to the notice of the two judge bench and further went on to hold that dismissal of appeal for default along with application for condonation of delay in its filing was a decision ..... on a writ petition preferred by the assessee the high court held that the word 'pending' appearing in section 95(i)(c) of the finance act, in relation to revision proceedings meant 'factually pending' and the fact that the revision petitions were not filed within the period of limitation did not detract from the fact that the proceedings were pending and the designated authority was directed to accept the declarations. ..... , : [1973]3scr492 ; wherein the apex court approved the decision of the madras high court which had applied the principle stated in mela ram & sons case (supra).14. mr. ..... suresh chandra dey (1932) 59 i a 283 held that the appeal presented out of time is an appeal, and an order dismissing it as time-barred is one passed in appeal. .....
Tag this Judgment!Court : Mumbai
Reported in : 2005(6)BomCR574; (2005)107BOMLR337; (2006)4CompLJ117(Bom)
..... contrary to and violative of articles 21 and 48a of the constitution, as also the environment law of the country (as set out hereinabove).v) the amendment, so construed, will ..... acres.i) such a construction of the term 'open lands' is contrary to the plain meaning thereof, and is otherwise untenable, and would not be accepted by this hon'ble court.ii) the amendment, so construed, changes the character of the development plan, and renders the amendment beyond the scope and ambit of section 37 of the mrtp act (as set out hereunder) and ultra vires the said provision.iii) the amendment, so construed, is also contrary to the legislative policy of the mrtp act, and is ultra vires the provisions of the said act.iv) the amendment, so construed, is also ..... in this context, one may recollect the famous book of aldous huxley known as 'brave new world' written in 1932, wherein he conceptualised five races in this world, viz ..... johnson (quoted in trustees of the port of madras v. ..... naylor have been cited with approval and applied by this court in trustees of the port of madras v. .....
Tag this Judgment!Court : Mumbai
Reported in : 2006(1)ALLMR129; 2006(1)BomCR229; 2006(1)MhLj325
..... -section (2) of section 5, which is as follows : '(2) the board shall consist of the following members, namely, (i)the director general of health services, ex officio, who shall be chairman; (ii) the drugs controller, india, ex officio: (iii) the director of the central drugs laboratory, calcutta, ex officio; (iv) the director of the central research institute, kasauli, ex officio; (v) the director of the indian veterinary research institute, izatnagar, ex officio: (vi) the president of the medical council of india, ex officio; (vii) the president of the pharmacy council of india, ex officio; (viii) the director of the central drug research institute, lucknow ..... the petitioner is a partnership firm registered under the partnership act, 1932, and carries on the business of manufacturing and selling homoeopathic medicines at a factory situated at chinchwad. ..... the attention of the court has been drawn to the fact that similar writ petitions challenging the vires of rule 106-b were dismissed by the madras high court on 16th december, 1995 and by the patna high court on 5th january, 1998. ..... the madras high court has repelled a similar challenge to the constitutional validity of rule 106-b and on this ground that it violates article 19(1)(g). .....
Tag this Judgment!Court : Mumbai
Reported in : 2006(1)ALLMR400; 2006(1)BomCR909
..... every person excluding firms whether registered under the indian partnership act, 1932, or not and hindu undivided family engaged actively or otherwise in any profession, trade callings or employment and falling under one of the other of the classes mentioned in the second column of schedule 1 shall be liable to pay to the state government the tax at the rate mentioned against the class of such persons in the third column of the said schedule. ..... the following issue arises in this petition :are the respondents right in changing profession tax under the provisions of the maharashtra state tax on professions, traders callings and employment act, 1975 from the petitioners on the basis of ex gratia received under a scheme of optional voluntary retirement, even after the relationship of employee, employer has come to an end on the employee retiring under the scheme of voluntary retirement on the ground of drawing constructive service between the date of voluntary retirement and the actual date of superannuation.3. ..... the reserve bank of india at the time of payment of ex gratia deducted certain amount by way of profession tax from the gross amount payable to each of the petitioners under the provisions of the maharashtra state tax on professions, trade callings and employment act, 1975, which hereinafter shall be referred to as the act. .....
Tag this Judgment!Court : Mumbai
Reported in : (2005)198CTR(Bom)441; [2005]278ITR112(Bom)
..... [1948] 18 comp cas 205, the supreme court observed thus [1979] 120 itr 58 :'before the board it was argued that under the indian partnership act, 1932, a firm is recognised as an entity apart from the persons constituting it, and that the entity continues so long as the firm exists and continues to carry on its business. ..... kotangle submits that the partnership firm under the indian partnership act, 1932, is not a distinct legal entity apart from the partners constituting it and equally in law the firm as such has no separate rights of its own in the partnership assets. ..... of business or profession is sold, discarded, demolished or destroyed and the moneys payable in respect of such building, machinery, plant or furniture, as the case may be, together with the amount of scrap value, if any, exceed the written down value, so much of the excess as does not exceed the difference between the actual cost and the written down value shall be chargeable to income-tax as income of the business or profession of the previous year in which the moneys payable for the building, machinery, plant or furniture became due : provided ..... he relied upon the judgment of the madras high court in the case of cit v. p. k. .....
Tag this Judgment!Court : Mumbai
Reported in : [2005]147TAXMAN676(Bom)
..... supreme court observed thus:'before the board it was argued that under the indian partnership act, 1932, a firm is recognised as an entity apart from the persons constituting it, and that the entity continues so long as the firm exists and continues to carry on its business. ..... kotangle submits that the partnership firm under the indian partnership act, 1932 is not a distinct legal entity apart from the partners constituting it and equally in law the firm as such has no separate rights of its own in the partnership assets. ..... of business or profession is sold, discarded, demolished or destroyed and the moneys payable in respect of such building, machinery, plant or furniture, as the case may be, together with the amount of scrap value, if any, exceed the written down value, so much of the excess as does not exceed the difference between the actual cost and the written down value shall be chargeable to income-tax as income of the business or profession of the previous year in which the moneys payable for the building, machinery, plant or furniture became due:provided ..... he relied upon the judgment of the madras high court in the case of cit v. rk. .....
Tag this Judgment!Court : Mumbai
Reported in : 2005(5)BomCR725
..... no provision is made by contract between the partners for the duration of their partnership, or for the determination of their partnership, the partnership is 'partnership at will'.then, on the basis of section 43, he contended that when the 1st suit was instituted by the plaintiff for dissolution of the firm, then that suit constitutes a notice to all the partners of dissolution and the firm stands dissolved from the date of institution or from the date of service of the plaint upon the defendants/ partners.the counsel for defendant no. ..... his claim: provided that where the plaintiff is a minor or other person to whom the provisions contained in rules 1 to 14 of order xxxii extend, neither the suit nor any part of the claim shall be abandoned without the leave of the court,(2) an application for leave under the proviso to sub-rule (1) shall be accompanied by an affidavit of the next friend and, if the minor or such other person is represented by a pleader, by a certificate of the pleader to the effect that the abandonment proposed is, in his opinion, for the benefit of the minor or such other person ..... when the suit was filed, the firm was not registered under section 59 of the indian partnership act, 1932, it was registered on 28th april ..... interpreted by the madras high court and the andhra pradesh high court and, there was no estoppel of going before the arbitrator. ..... : air1992ker85 and also relied upon the judgment of madras high court reported in : air1983mad150 buhari trading .....
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