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Judgment Search Results Home > Cases Phrase: debentures companies act Court: allahabad Year: 1974 Page 1 of about 2 results (0.061 seconds)

May 13 1974 (HC)

Commissioner of Income-tax Vs. J.K. Cotton Spinning and Weaving Mills ...

Court : Allahabad

Decided on : May-13-1974

Reported in : [1975]98ITR153(All)

..... , chartered accountant (aust.), auditing for students (australia : the law book co. of australia pvt., 1952) observed at page 188 :' the companies act of each state provides that where a company issues shares to secure funds for construction of works or building or to provide plant which cannot be made profitable for a lengthened period, the ..... now let us examine the case law on the point. in commissioner of income-tax v. standard vacuum refining company of india ltd. : [1966]61itr799(cal) a company had borrowed moneys on debentures in june, 1963, interest to run from that date, and utilised the amount along with other money financed ..... on a reference to the calcutta high court by the department it was held that the interest paid on the debentures issued formed part of the actual cost incurred by the assessee-company in acquiring the capital asset and, under section 10(2)(vi), 10(2)(via), 10(2)(vib) ..... expenses incurred during the period of construction including a sum of rs. 22,53,284 being the interest which had accrued on the aforesaid debenture from the date of the borrowing to the date of commencement of the business were capitalised and depreciation on the full amount was claimed. ..... f. c. a. audits, ninth edition, london : gee & co. (publishers) ltd., 1936, says at page 282:' if interest has been paid on debentures or loans raised to meet capital expenditure and such capital expenditure is not revenue earning, as for example the construction of a new railway system, which work may .....

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Apr 19 1974 (HC)

Subhash Oil Industries and ors. Vs. State of Uttar Pradesh and anr.

Court : Allahabad

Decided on : Apr-19-1974

Reported in : AIR1975All19

..... approved by the state government;(c-2) an amount equal to one-half of one per centum on the amounts realised by the issue of debentures;(d) an amount equal to one-half of one per centum on the accumulations in the development reserve created under para v-a of this ..... doubt the matter is referred to the rating committee and the proceedings are conducted according to the provisions of section 57-a of the supply act. the committee acts in a quasi-judicial manner and investigates the claim. the purpose behind the provisions of sections 57 and 57-a are to enable the ..... , 1972. as regards the notification under section 3 (2) (aa) the position is as follows: section 3 (2) (aa) of the state act only acted as a fetter on the power of the lincensee to revise the rates. thatprovision having been struck down, the fetter has been removed and the unilateral right ..... proposed was in accordance with the provisions of the vith schedule of the supply act. sanction accordingly was accorded and the state government published the impugned notification dated 24th of may, 1972 (annexure a-2). the licensee company thereafter gave a public notice dated 9th of june 1972 in respect of its ..... the proceeding under clause 6 (1) of the sugarcane (control) order (1966) regarding reservation of sugarcane areas was of quasi judicial nature and while acting in a quasi-judicial manner authorities had to follow the principles of natural justice. no adverse order could accordingly be passed against a party without giving him .....

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