Court : Gujarat
Decided on : Feb-19-1997
Reported in : 95CompCas663(Guj)
..... mil') because transaction of purchases of shares of mil, remaining outstanding for want of availability of adequate number of shares with the sellers to fulfil their corresponding selling obligation. in response to the said notice dated february 7, 1996 (annexure 'a'), the petitioner who was holding shares in mil offered 50,000 ..... of the board to justify the order by treating it as not a measure of penalty, as falling under the authority of section 11 read with section 11b of the act. 202. from the tenor of the orders and pleadings, it is apparent that the primary object of the orders in the ..... such a situation having relation to the objectives of the statute. obviously, in the former case, if a plan or course of action has been charted which can be said to have force of law, it must satisfy the test of being a valid law enforceable. in the latter case, ..... . state of orissa, : 2scr537 , sri jagannath ramanuj das v. state of orissa, : 1scr1046 , and delhi municipal corporation v. mohd. yasin, : 142itr737(sc) , it reaffirmed (page 2042 of air 1992 sc) : 'it has been consistently held by this court that whenever there is compulsory exaction of any money, there ..... requiring of a specific power before a tax can be imposed, is a different proposition compared to the interpretation of a remedial legislation concerned, inter alia, while taking action to remedy a breach of regulation and act. pausing here, it is the constitutional mandate that no tax shall be imposed without .....Tag this Judgment!