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Search Results Judgments > Act:COMPANIES ACT, 1956 Preamble 1 Year:1967

May 02 1967

Commissioner of Income-tax, Hyderabad Vs. Motors and General Stores (P ...

  • Decided on : 02-May-1967

Court : Supreme Court of India

Reported in : [1967]66ITR692(SC); [1967]3SCR876

... etc., for a consideration of Rs. 1,20,000/-. Mr. Narasaraju also referred to the preamble in which the resolution of the Board of Directors dated September 9, 1955 is quoted and also the resolution of the meeting of the general body of the assessee-company held on October 4, 1955, authorising the ... under section 66(2) of the Income-tax Act, 1922 on the following question of law : ' (1) Whether the transaction dated 21-2-1956 amounts to a sale within the purview of the second proviso to section 10(2) (vii) of the Indian Income-tax Act; alternatively, (2) Whether, the consideration for the ... the transaction of February 21, 1956 was a sale and whether the income-tax authorities were entitled to include the amount of Rs. 43,568/-as profits under section 10(2) (vii) of the Income-tax Act as representing the excess of the consideration realised by the assessee-company over the written down ... 1956-57, the assessee-company submitted a return of income showing a sum of Rs. 9,823/-as profits derived from the transaction. The Income-tax Officer found that the value realised exceeded the written down value by Rs. 43,568/- and accordingly computed the profits under section 10(2)(vii) of the Income-tax Act ... meeting of the general body of the assessee-company held on October 4, 1955, authorising the Managing Director to negotiate 'for the sale of the entire concern known by the name of Sree Rama Talkies'. But, in our opinion, neither the recital in the preamble nor the resolution of the Board of ...

Mar 21 1967

Shahdara (Delhi) Saharanpur Light Railway Co. Ltd. Vs. The Municipal B ...

  • Decided on : 21-Mar-1967

Court : Supreme Court of India

Reported in : AIR1967SC1747; [1967]3SCR243

... Act. 15. The Indian Tramways Act, 1902 (Act IV of 1902) was one to apply the provisions of the Indian Railway Companies Act, 1895, to certain tramway companies. The preamble to this Act IV of 1902, stated that it was expedient to apply the provisions of the Indian Railway Companies Act, 1895, to companies formed for the construction of tramways 'not differing in structure and working from light railways'. This preamble ... Act, except s. 135, have been extended to the appellant company. 14. The next enactment to be referred to is the Indian Railway Companies Act, 1895 (Act X of 1895), which provided for the payment, by railway companies, registered under the Indian Companies Act, 1882, of interest out of capital during construction. Section 2(1) defines ... of India Act, 1935, and the Constitution. The provisions of the Indian Railway Companies Act, 1895, have also been applied to the tramways constructed, under the Tramways Acts, by the Indian Tramway Act of 1902. The second preamble to the last mentioned Act, clearly shows that the tramways, to which the Indian Railway Companies Act was made ... company paying interest on its paid-up share capital, out of capital, for the period, and subject to the conditions and restrictions contained in that section. There are other consequential provisions, in this Act. 15. The Indian Tramways Act, 1902 (Act IV of 1902) was one to apply the provisions of the Indian Railway Companies Act, 1895, to certain tramway companies. The preamble to this Act ...

Sep 18 1967

Chandra Bhavan (Boarding and Lodging), Bangalore and Ors. Vs. State of ...

  • Decided on : 18-Sep-1967

Court : Karnataka

Reported in : (1969)ILLJ97Kant; (1968)1MysLJ24

... in the matter of setting up one or the other of them. The purpose sought to be achieved by the Act has been well-defined in the preamble to the Act ... These and analogous provisions sufficiently indicate the purpose and scope of the Act as also the various industrial disputes which may arise between the employers and their workmen which may have to be ... contentions seriatim. I. The main provisions of the Act and scheme of the Act have been explained several decisions of the Supreme Court and it is unnecessary to repeat them here. Explaining S. 5 of the Act, B. K. Mukherjea, J. (as he then was), who spoke for the Court, stated thus in Edward Mills Company, Ltd., Beawar, and others v. State of Ajmer ... counsel for petitioners and the learned Special Government Pleader appearing for the State. Several contentions advanced by different counsel for the petitioners may be formulated thus : (i) Section 5(1) of the Act is violative of Art. 14 of the Constitution, as it confers unguided and uncontrolled discretion on the Government to follow either of the alternative procedures set out in Cls ... of wages by collective agreements or otherwise, and wages are exceptionally low.' For giving effect to those resolutions in India, the Central Legislature passed the Minimum Wages Act, 1948. 4. The preamble to this Act states that 'it is expedient to provide for fixing minimum rates of wages for certain employments,' and those list of industries enumerated in part I of the schedule ...

Oct 06 1967

Malladi Seetharama Sastry Vs. Naganath Kawlwar and Sons

  • Decided on : 06-Oct-1967

Court : Andhra Pradesh

Reported in : AIR1968AP315

... preamble to the Act merely says -'Whereas it is expedient to amend the law relating to the telegraphs in India, It is hereby enacted as follows. 'The object of the Act and its amendments are stated in the Statement of Objects and Reasons. The main object of the Act is stated to be to give power to the Government and to any company ... s premises. The defendant was using it since its installation in 1954. The defendant however, defaulted in the payment of the telephone charges from April 1956. The demand notices were however issued to the plaintiff as the telephone stood in the name of the plaintiff. Though he brought this matter ... of a licence granted under Section 4 contravenes any condition contained in his licence he shall be punished with fine which may extend to Rs. 1,000/-and with a further fine which may extend to rupees five hundred for every week during which the breach of the conditions continues.'Section ... consent of the Government in writing is absolutely prohibited by the agreement.8. The objects and the provisions of the Act also are to my mind equally significant. Though the preamble to the Act merely says -'Whereas it is expedient to amend the law relating to the telegraphs in India, It is hereby ... as follows. 'The object of the Act and its amendments are stated in the Statement of Objects and Reasons. The main object of the Act is stated to be to give power to the Government and to any company or person licenced under Section 4 of the Act to place telegraph lines under ...

May 19 1967

Sushil Chander Anand Vs. State of U.P. and Ors.

  • Decided on : 19-May-1967

Court : Allahabad

Reported in : AIR1969All317

... Jagdish Sahai, J.1. These are five connected writ petitions in which vires of the Uttar Pradesh Vritti, Vyapar, Ajivika Aur Sevayojan Kar Adhiniyam, 1965 (hereinafter referred to as the Adhiniyam), passed by the Uttar Pradesh Legislature has been challenged on the ground that the same is unconstitutional.2. The preamble of the Adniniyam reads:'An Act to provide for the levy of ... to be an excise duty outside the purview of Article 276 of the Constitution, A Division Bench of the Patna High Court in Calcutta Chemical Company Ltd. v. Bhagalpur Municipality : AIR1962Pat465 held a tax on joint stock companies transacting business graduated according to the capital value of the shares to be covered by Article 276 of the Constitution. It appeared that in ... to ascertain the policy underlying the statute and the object intended to be achieved by it. In this process the preamble to the Act and its material provisions can and must be Considered. Having thus ascertained the policy and the object of the Act, the Court should apply the dual test in examining its validity: Is the classification rational and based on intelligible ... a case of tax on circumstances and property imposed under the U. P. District Boards Act, but such a tax was held to be a composite tax including within its ambit taxes on professions, trades, and employments.39. In Western U. P. Electric Power and Supply Company Ltd. v. Town Area Jaswantnagar : AIR1957All433 , which also related to a tax on circumstances and ...

Dec 15 1967

Commissioner of Income-tax, Bombay Vs. Ciba of India Ltd.

  • Decided on : 15-Dec-1967

Court : Supreme Court of India

Reported in : AIR1968SC1131; [1968]69ITR692(SC); [1968]2SCR696

... to the products which were already manufactured or processed or sold by the assessee or which may, with the prior approval of the Swiss Company, in future be manufactured or processed or sold by the assessee. The preamble of the agreement, inter alia, recited : 'Ciba Pharma has installed its own tabletting ampoule filling and finishing work and has an organisation suited for ... right in rejecting the claim for allowance under s. 10(2)(xii) of the Income-tax Act. 12. But the outgoing was properly treated as an allowable expenditure under s. 10(2)(xv) of the Income-tax Act. Under the terms of the agreement, the Swiss Company had - (1) undertaken to deliver to the assessee all processes, formulae, scientific data, working-rules and ... allowable expenditure under s. 10(2)(xv) of the Income-tax Act. Under the terms of the agreement, the Swiss Company had - (1) undertaken to deliver to the assessee all processes, formulae, scientific data, working-rules and prescriptions pertaining to the manufacture or processing of products discovered and developed in the Swiss Company's laboratories and to forward to the assessee as far ... from May and Baker ensured for the benefit of the assessee and the assessee in paying the amount to the Swiss Company was acting for protecting its trading interest. In the alternative, it was contended that the obligations of the Swiss Company arising in respect of the patents relating to sulphathiazole were debts which Ciba (India) Ltd. was liable to discharge, and ...

Sep 29 1967

Jay Engineering Works Ltd. and Ors. Vs. State of West Bengal and Ors.

  • Decided on : 29-Sep-1967

Court : Kolkata

Reported in : AIR1968Cal407,72CWN440

... company or a firm is the petitioner. He takes the objection that a company is not entitled to take advantage of Article 19 or 21. So far as a company is concerned it has been clearly laid down by the Supreme Court, in State Trading Corporation of India Ltd. v. Commercial Tax Officer, AIR 1963 SC 1811 that a company registered under the Indian Companies Act, 1956 ... R. Das. C J. In : [1959]35ITR190(SC) . is:'to secure to all persons, citizens or non-citizens the equality of status and of opportunity referred to in the glorious preamble of our Constitution. It combines the English doctrine of the rule of law and the equal protection clause of the 14th Amendment to the American Federal Constitution which enjoins that ... . In this case the petitioner No. 1 is the Jay Engineering Works Ltd., a company incorporated under the Indian Companies Act. Besides the company, there are six other petitioners who are in the managerial and supervisory staff of the company. So far as the fundamental rights guaranteed by Article 19 of the Constitution, the petitioner No. 1 which is a company cannot claim any relief on the ground ... that a company registered under the Indian Companies Act, 1956 was not a citizen within the meaning of Article 19 of the Constitution and cannot ask for the enforcement of a fundamental right granted to citizens under Article 19. In the Tata Engineering and Locomotive Co. v. State of Bihar : [1964]6SCR885 it was held that Article 18 did not apply to companies and corporations ...

Nov 23 1967

A. Sanjeevi Naidu and Ors. Vs. The Madras State Transport undertaking ...

  • Decided on : 23-Nov-1967

Court : Chennai

Reported in : (1970)1MLJ300

... Sections 68-A, 68-G, 68-D and 68-E of the Motor Vehicles Act, (ii) Section 68 (i) of the Act (iii) Rule 294-C and Rule 294-E of the Rules framed under the Act and (iv) the preamble to the scheme in form I, under Rule 294-C, which was actually promulgated ... independent authority, in the shape of a corporation, has been established by the State Government under Section 3 of the Road Transport Corporation Act, 1950. There is no company or corporation also operating these services which can be said to be controlled or owned by the State Government. The Transport Department of the ... , and refers to Vine v. National Dock Labour Board L.R (1957) A.C. 488 : (1957) 2 W.L.R. 106 : (1956) 3 All E.R. 939, for an act beyond the scope of the delegation. The author points out that procedural ultra vires under the several categories relating thereto,applies, in ... defined in the sub-section, with a corresponding divestiture of the Governor of any responsibility in the matter, whereas under Section 49, Sub-section (1), of the Act of 1935 the Governor remains responsible for the action of his subordinates taken in his name.50. This decision is clear authority for the ... form its opinion according to the rules governing its constitution. If it is a company, its decision or opinion is formed according to the articles of the company. A Road Transport Corporation established under sections of the Road Transport Corporation Act, 1950, is a body corporate having perpetual succession and a common seal. It ...

Feb 27 1967

I.C. Golak Nath and Ors. Vs. State of Punjab and Anr.

  • Decided on : 27-Feb-1967

Court : Supreme Court of India

Reported in : AIR1967SC1643; 1967(0)BLJR818; [1967]2SCR762

... , at least in so far as 'estates' as defined by Art. 31-A. This is the culmination of a process. 236. Previous to the Constitution (Seventeenth Amendment) Act the Constitution (Seventh Amendment) Act, 1956 had given power indirectly by altering entry No. 42 in List III. The entries may be read side by side : '42. (Before Amendment) (After Amendment)Principles on ... -B and the Ninth Schedule. The original thirty-first article read : '31. Compulsory acquisition of property. (1) No person shall be deprived of his property save by authority of law. (2) No property, movable or immovable, including any interest in, or in any company owning, any commercial or industrial undertaking, shall be taken possession of or acquired for public purposes ... to the individual and of Government to both and the rights of the minorities and the backward classes are clearly laid down. This social document is headed by a Preamble (PREAMBLE -WF, THE PEOPLE OF INDIA, having solemnly resolved to constitute India into a SOVEREIGN DEMOCRATIC REPUBLIC and to secure all its citizens; JUSTICE, social, economical and political; LIBERTY of ... [approved by Sankari Prasad's case : [1952]1SCR89 ], was found so attractive that many more Acts were sought to be included but were dropped on second thoughts. Even so, one wonders how the Railway Companies (Emergency Provisions) Act, 1951, The West Bengal Land Development and Planning Act and some others could have been thought of in this connection. By this device, which ...

Apr 06 1967

Standard Literature Co. Private Ltd. and Ors. Vs. Union of India (UOI) ...

  • Decided on : 06-Apr-1967

Court : Kolkata

Reported in : AIR1968Cal1,71CWN719

... The petitioner No. 1. Standard Literature Company Private Ltd. (hereinafter referred to as the 'company') is a company incorporated under the Indian Companies Act and the petitioners Nos. 2 and 3 are directors and shareholders thereof. Prior to September 19, 1963 and commencing from the year 1916, this Company was a tenant in ... 1955 S. C. 13, : [1954]26ITR713(SC) , : [1956]29ITR390(SC) and 64 Cal WN 1 :(AIR 1960 Cal 1691 (SB). 24. But where there is any guide line in the Act. which may be gathered from the objects and reasons or the preamble or the body of the Act, by which the classification ... company') is a company incorporated under the Indian Companies Act and the petitioners Nos. 2 and 3 are directors and shareholders thereof. Prior to September 19, 1963 and commencing from the year 1916, this Company was a tenant in respect of room nos. 22, 24, 27, 28 in the ground floor and Nos. 46. 62. 66, 57, 58, 60, 64, 65, 66, 66/1 ... of the Act are discriminatory and violative of Article 14 fails The result is that all the three objections taken against the vires of the Act fail In this particular case, a special point is taken that the appellant is a company incorporated under the Indian Companies Act and as ... lands The proviso to Section 1 of the West Bengal Premises Tenancy Act, 1956 states that the 1956 Act does not apply to any premises belonging to Government. Therefore, where the tenancy of a person has been properly determined under the Transfer of Propertv Act, then in the case of ...

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