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Judgment Search Results Home > Cases Phrase: debentures companies act Court: andhra pradesh Page 7 of about 110 results (0.065 seconds)

Jun 09 2006 (HC)

N.K. Leasing and Construction P. Ltd. Vs. Commissioner of Income Tax

Court : Andhra Pradesh

Reported in : 2006(5)CTC604; [2006]285ITR330(AP)

..... by clauses (1), (3) and (4) of the memorandum of association. the objects mentioned were (page 488) 'to acquire, hold, sell and transfer shares, stocks, debentures, debenture stocks, bonds, obligations and securities issued or guaranteed by any company constituted or carrying on business in british india and in the united kingdom or in any colony, or dependency or possession thereof or in any ..... not merely a realisation or change of investment, but an act done in what is truly the carrying on, or carrying out, of a business. the simplest case is that of a person or association of persons buying and selling lands ..... it, and obtains a greater price for it than he originally acquired it at, the enhanced price is not profit in the sense of schedule d of the income-tax act, 1842 assessable to income tax. but it is equally well established that enhanced values obtained from realisation or conversion of securities may be so assessable, where what is done is ..... itself. assessment was completed for the year 1988-89 on march 30,1990, under section 143(3) read with section 143(2)(b) of the income-tax act, 1961 (hereinafter referred to as 'the act'). the commissioner of income-tax (appeals) also found that the assessee, in the first instance, had failed to file its return admitting the gain as long-term .....

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Jun 14 1963 (HC)

Nizam Sugar Factory Vs. Commissioner of Agricultural Income-tax, Hyder ...

Court : Andhra Pradesh

Reported in : [1964]52ITR939(AP)

..... so far as they are necessary for the decision of the two questions under reference. the nizam sugar factory limited was incorporated as a joint-stock company under the hyderabad companies act in april, 1937. its main objects, as they appear from the memorandum of association, ar :'(1) to carry on the business of manufacturers ..... in respect of income-tax or super-tax or any other tax or duty or income or revenue or expenditure by way of interest on debentures or otherwise on capital account of any sum which may be set aside in each year out of the profits for reserve or any other ..... their ability on all questions of or relating to manufactur and finance and disposal of the companys products.'net profits' were to be ascertained after payment of all expenses of the company, and after providing for interest on debentures. on these facts, it was held by the court of appeal that in computing its ..... profits for the purposes of income-tax, the company was entitled to deduct the sums so paid as being 'money ..... assessee 'solely for the purpose of earning such profits or gains' within the meaning of section 10(2)(ix) of the indian income-tax act, 1922, and the assessee company was entitled to claim that this sum should be deducted in computing its profits and gains. roberts c.j. pointed out that '... the taxable .....

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Oct 27 1932 (PC)

Shahabad Cement Company Vs. H.E.H. the Nizam's Government

Court : Andhra Pradesh

Reported in : 143Ind.Cas.591

..... be condoned?2. we heard the arguments of the parties and considered the materials on the record. it appears that a debenture trust deed was executed by the shahabad cement company ltd. when it was presented by mr. feroz jamshedji bilmoria in the registration and stamps department for ascertaining the stamp duty, ..... bond.(ii) has the application been properly presented to the chief controlling revenue authority for decision under section 43 of the hyderabad stamp act (section 45 of the indian stamp act no. ii of 1899)? can he pass orders irrespective of the bar of limitation?(iii) are the present proceedings barred by limitation? ..... the application on this ground, but inasmuch as he has referred the case with his opinion under section 55 (section 57 act no. ii of 1899) of the stamp act to the high court for decision no question of limitation will arise.5. as for the third point we hold that when ..... 201 dated the 31st khurdad 1341 fasli has referred the following point s for decision under section 55 of the hyderabad stamp act no. iv of 1331 fasli section 57 of act ii of 1899:(i) whether the stamp duty on the document in question should be levied under articles 29, 40 clause ..... section 43 relates to the proceedings before the chief controlling revenue authority and apparently section 5 of the hyderabad limitation act no. ii of 1322 fasli (corresponding to section 5 of the indian limitation act, ix of 1033), is not applicable to such proceedings.rai biseshar nath, j.6. (dissenting)--i concur .....

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Jun 07 2010 (HC)

Azam Foods Products Pvt. Ltd., Rep. by Its Managing Director, Mr. Mohd ...

Court : Andhra Pradesh

..... aside the order dated 31.07.2007 of the debts recovery tribunal, visakhapatnam ('the drt').the chronology of facts:2. the petitioner is a private limited company incorporated under the provisions of the companies act 1956, engaged in the business of trading in rice. it has a factory at gollapalli (v), zedcherla (m), mahabubnagar district. the petitioner availed ..... the rules made thereunder shall be in addition to, and not in derogation of the companies act, 1956; the securities transactions (regulation) act, 1956; the securities and exchange board of india act, 1992; the recovery of debts due to banks and financial institutions act, 1993 or any other law for the time being in force.analyses:17. to comprehend the ..... any mortgage or pledge as security for the financial assistance granted by any bank or financial institution and includes a person who becomes borrower of a securitisation company or reconstruction company consequent upon acquisition by it of any rights or interest of any bank or financial institution in relation to such financial assistance.c) section 2(ha) ..... banks and financial institutions; easy transferability of financial assets by the securitization or reconstruction company to acquire financial assets of banks and financial institutions, by issue of debentures or bonds or any other security in the nature of debenture; empowering the securitization or reconstruction company to raise funds by issue of security receipts to qualified institutional buyers, also empowers .....

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Jul 06 2010 (HC)

M/S. Azam Foods Products Pvt. Ltd., Having Its Office and Unit at Goll ...

Court : Andhra Pradesh

..... aside the order dated 31.07.2007 of the debts recovery tribunal, visakhapatnam ('the drt'). the chronology of facts: the petitioner is a private limited company incorporated under the provisions of the companies act 1956, engaged in the business of trading in rice. it has a factory at gollapalli (v), zedcherla (m), mahabubnagar district. the petitioner availed credit ..... the rules made there under shall be in addition to, and not in derogation of the companies act, 1956; the securities transactions (regulation) act, 1956; the securities and exchange board of india act, 1992; the recovery of debts due to banks and financial institutions act, 1993 or any other law for the time being in force. analyses: to comprehend the ..... any mortgage or pledge as security for the financial assistance granted by any bank or financial institution and includes a person who becomes borrower of a securitisation company or reconstruction company consequent upon acquisition by it of any rights or interest of any bank or financial institution in relation to such financial assistance. c) sec. 2(ha ..... banks and financial institutions; easy transferability of financial assets by the securitization or reconstruction company to acquire financial assets of banks and financial institutions, by issue of debentures or bonds or any other security in the nature of debenture; empowering the securitization or reconstruction company to raise funds by issue of security receipts to qualified institutional buyers, also empowers .....

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Jul 25 1969 (HC)

The Commissioner of Income-tax, Andhra Pradesh, Hyderabad Vs. H.E.H. O ...

Court : Andhra Pradesh

Reported in : [1970]76ITR383(AP)

..... of the interest receivable by him on any security of the central government or of state government, or on debentures or other securities for money issued by or on behalf of a local authority or a company: (3) provided further that the income-tax payable on the interest receivable on any security of a state ..... necessary power to recast the question so as to bring out the whole of the dispute between the parties into consideration section 66(5) of the act which is the relevant provision reads thus:'the high court upon the hearing of any such case shall decide the question of law raised thereby and ..... exemption under both the heads and gave its decision. even in the present assessment, it is stated, tat the third proviso to section 8 of the act, in addition to item 8 of the notification dated 21-3-1922, was sought to be pressed into service by the assessee. our attention has been ..... item 8.........................' or by adding to the question the following passage:'or by virtue of the third proviso to section 8 of the indian income-tax act, 1922.'the reason for the request is this should the question remain as it is, the assessee would be entitled to seek exemption only under item ..... assessee is that by virtue of the notification dated 21-3-1922 (item no. 8) issued under section 60 of the indian income-tax act, 1922 (hereinafter called the act) the interest received by him was totally exempt from tax. an identical question arose in the prior assessment years and a reference in respect .....

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Mar 31 2004 (HC)

In Re: Deepika Chit Fund (P) Ltd. and ors.

Court : Andhra Pradesh

Reported in : 2004(3)ALD879; 2004(5)ALT155; (2005)3CompLJ51(AP); [2004]56SCL566(AP)

..... is significant to note that there is no provision corresponding to section 392 of the companies act under the repealed companies act, 1933. in this context, a reference be made to the observations made by the apex court in s.k. gupta case, which read as under:at the ..... all these provisions dealing with corporate insolvency must be read together as complimentary to each other in dealing with different kinds of situations.32. thirdly, section 392 of the companies act cannot be said to contain limitations or put restrictions on the court's power to pass interlocutory orders before sanctioning the scheme if it is viewed in proper perspective. it ..... the arrangement, and can pass any interim order as fit, placed reliance on the clause (iv) and the proviso appended to sub-section (1) of section 391 of the companies act, which provides for the power to adjudicate any of such incidental, consequential and supplementary matters as are necessary to secure the salvaging/reconstruction.13. m/s. karnataka bank ltd., ..... security, to carry on and undertake the business of underwriting, sub-underwriting, invest in, acquire, buy, hold, sell or otherwise deal in securities of every kind and description including shares, debentures, units, bonds, and to carry on and undertake the business of portfolio managers, asset managers, investment counsellors, merchant bankers etc.6. this court, by order dated 25-9-2003, .....

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Jul 05 2013 (HC)

Selco International Limited and Others Vs. L.V.R.infrastrures Pvt.Limi ...

Court : Andhra Pradesh

..... the o.ps. and the interlocutory orders is common, the parties are referred to as appellants and respondents. the 1st appellant is a company incorporated under the companies act, undertaking the activity of treatment of municipal solid waste. appellants 2 and 3 are its directors.the 1st appellant was awarded the work of ..... thereafter, a deed of assignment was entered into on 31.01.2009. this was followed by the investment into the 1st appellant-company in the form of redeemable debentures on 09.02.2009. the respondent in c.m.a.no.165 of 2012 has undertaken to invest rs.3.5 crores with ..... find that the appellants did not dispute the receipt of amount from the respondents and that the activity for which the company was incorporated was not at all undertaken. when the company in which huge amount is invested is not functioning at all, let alone making profits, the apprehension of the investor ..... takes place therein. that adjudication of the disputes is relegated to the arbitrator, and the purpose of filing an application under section 9 of the act is only to ensure that the interests of the aggrieved party are protected either till the arbitration commences or if commenced, till it concludes. therefore ..... . having initiated those steps, the respondents filed o.p.nos.1352 and 1353 of 2011 before the trial court under section 9 of the act for interim measures. they prayed for a direction to the appellants to furnish bank guarantee for the amounts invested by them. the trial court passed .....

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Apr 27 1993 (HC)

Branch Manager, State Bank of Hyderabad Vs. Gadiraju Rama Bhaskara Vis ...

Court : Andhra Pradesh

Reported in : AIR1993AP337; 1993(2)ALT274

..... respect of a debt or a security. interpreting s. 370 of the indian succession act, which defines security as any pronote, debenture, stock or other security of central or state government, any bond, any stock or debenture or share in a company etc., the court held that articles pledged do not come within any of the categories mentioned above and as such, gold articles ..... certificate as the question as to who is entitled to those articles cannot be decided by the bank.3. it is relevant to note s. 214 of the indian succession act, which reads thus :'(1) no court shall- (a) pass a decree against a debtor of a deceased person for payment of his debt to a person claiming on succession to ..... administration evidencing the grant to him of administration to the estate of the deceased, or (ii) a certificate granted under s. 31 or s. 32 of the administrator-general's act, 1913, and having the debt mentioned therein, or (iii) a succession certificate granted underpart x and having the debt specified therein, (iv) a certificate granted under the succession certificate ..... act, 1989, or (v) a certificate granted under bombayregulation no. viii of 1827, and, if granted,after the first day of may, 1889, having thedebt specified therein. (2) the word 'debt' .....

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Nov 02 2007 (HC)

Smt. Kamili Sarojini Vs. Indian Bank, Avanigadda Branch

Court : Andhra Pradesh

Reported in : AIR2008AP71; 2008(2)ALD581; III(2008)BC299

..... respect of a debt or a security. interpreting section 370 of the indian succession act, which defines security as any pronote, debenture, stock or other security of central or state government, any bond, any stock or debenture or share in a company etc., the court held that articles pledged do not come within any of the categories mentioned above and as such, gold articles ..... certificate act, 1889, or(v) a certificate granted under bombay regulation no. viii of 1827, and, if granted, after the first day of may, 1889, having the debt specified therein.(2) the ..... administration evidencing the grant to him of administration to the estate of the deceased, or(ii) a certificate granted under section 31 or section 32 of the administrator-general's act, 1913, and having the debt mentioned therein, or(iii) a succession certificate granted under part x and having the debt specified therein, or(iv) a certificate granted under the succession ..... bhaskara viswanadha raju : air1993ap337 , the learned judge of this court at paragraphs 3, 4 and 5 observed as under:it is relevant to note section 214 of the indian succession act, which reads thus:(1) no court shall:(a) pass a decree against a debtor of a deceased person for payment of his debt to a person claiming or succession to .....

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