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Judgment Search Results Home > Cases Phrase: debentures companies act Court: us supreme court Year: 1974 Page 1 of about 7 results (0.164 seconds)

Oct 31 1974 (SC)

Challapalli Sugar Ltd. Vs. the Commissioner of Income-tax, A.P., Hyder ...

Court : Supreme Court of India

Decided on : Oct-31-1974

Reported in : AIR1975SC97; [1975]98ITR167(SC); (1975)3SCC572; [1975]2SCR538

..... , but for its employment in that way, would be invested in good securities, paying a reasonable rate of interest. section 208 of the companies act, 1956 (act 1 of 1956) deals with payment of interest on share capital in certain contingencies. sub-section (1) of that section reads as under:( ..... of affairs no dividends may be paid unless such dividends are paid out of profits: interest on debentures (being a charge is, however, payable whether profits are earned or not). where company raises share capital and out of the proceeds defrays the expenses of the construction of any works ..... 17. in the case of hinds v. buenos ayres grand national tramways company, limited [1906] 2 ch. d. 654 a tramway company, for the purpose of converting its undertaking to a system of electric traction, issued conversion debenture stock. the directors passed resolutions that the interest on this stock should ..... & pcgler's practical auditing 11th edition it is observed on pages 190-191 under the head 'interest payable out of capital during construction''interest on debentures issued for a similar purpose can be charged to capital during the period of construction (hinds v. buenos ayres grand national tramways co. ltd. ..... commencement, of the business on the aforesaid loan and claimed depreciation on full amount. the income-tax officer did not include interest on debentures in arriving at the figure of actual cost and as such rejected the claim of the assessee in this respect. the appellate assistant commissioner .....

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Apr 30 1974 (SC)

Chief Commissioner, Delhi and ors. Vs. Federation of Indian Chambers o ...

Court : Supreme Court of India

Decided on : Apr-30-1974

Reported in : AIR1974SC1527; [1974(29)FLR207]; 1974LabIC1004; (1974)IILLJ271SC; (1975)3SCC64; [1975]1SCR348; 1974(6)LC417(SC)

..... the high court of delhi.2. the facts bearing on this question may now be stated:respondent 1 (hereinafter referred to as the federation) is a company registered under section 26 of the indian companies act, 1913. the primary objects of the federation as given in the memorandum or association are :(a) to promote indian business in matters of inland and ..... or dispose of the undertaking of the federation or any part thereof for such consideration as the federation may think fit and in particular for shares, debentures, or securities of any other association or company having objects altogether or in similar to those of the federation.(z) to take or otherwise acquire and hold shares in any other association or ..... in such manner as the committee may decide.(z2) ...(z3) to draw, make, accept, discount, execute and issue bills of exchange, promissory notes, bills of lading, warrants, debentures and other negotiable instruments or securities.(z4) ...(4) the income and property of the federation, whensoever derived, shall be applied solely towards the promotion of the objects of the federation ..... premises in which business of banking, insurance, stocks and shares, brokerage or produce exchange is carried on, but does not include a shop or a factory registered under the factories act, 1948, or theatres, cinemas, restaurants, eating houses residential hotels, clubs or other places of public amusement or entertainment.'establishment' means a shop, a commercial establishment, residential hotel, .....

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May 28 1974 (FN)

Commissioner Vs. National Alfalfa

Court : US Supreme Court

Decided on : May-28-1974

..... an income tax deduction for amortizable debt discount claimed to be the difference between the face amount of the debentures and the preferred's value at the time of the exchange. i the facts are stipulated. the respondent, national alfalfa dehydrating and milling company (hereinafter called "nad" or the "taxpayer"), is a delaware corporation organized in may, 1946. it has its principal ..... predecessors did not provide explicitly for amortization and deduction of debt discount. the successive regulations, however, beginning with art. 150 of treasury regulations 33 (revised 1918), issued under the revenue act of 1916, have provided for such amortization and deduction by the issuer. [ footnote 7 ] page 417 u. s. 144 the first statutory recognition of bond discount appeared in 1232(b ..... that has been thought to justify the deduction. this has been the economic resemblance, in both form and function, which bond discount bears to stated interest for which the revenue acts and the codes have allowed a deduction. although, as has been noted, there has been some descriptive confusion in the regulations, with their references to "loss" as well as to ..... deduction provision in 1.163-3(a)(1). [ footnote 8 ] the 1954 code's 1232(b)(2) was amended by the interest equalization tax act, pub.l. 88-563, 5, 78 stat. 845, and by the tax reform act of 1969, pub.l. 91-172, 413(b), 83 stat. 611, applicable to bonds and other evidences of indebtedness issued after may 27 .....

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May 15 1974 (FN)

Calero-toledo Vs. Pearson Yacht Leasing Co.

Court : US Supreme Court

Decided on : May-15-1974

..... covering of such bond into the general funds of the government of puerto rico in case it may be in legal tender or by certified check; the hypothecary debentures or debentures of insurance companies shall be transmitted by the pertinent clerk of the court to the secretary of justice for execution." "(c) after fifteen(15) days have elapsed since service ..... interference by the congress in respect of internal government and administration, subject only to compliance with applicable provisions of the federal constitution, the puerto rican federal relations act and the acts of congress authorizing and approving the constitution, as may be interpreted by judicial decision. those laws which directed or authorized interference with matters of local government by ..... , there was no appeal from "final" judgments of the federal circuit courts. see 36 stat. 1157 (1911). when consideration was being given to amendment of the judiciary act in 1924 and 1925 "[a]ttention was drawn to the disparity between the want of obligatory review over [decisions of the circuit courts involving the constitutionality of state statutes] and ..... appeal to the supreme court from an order granting or denying, after notice and hearing, an interlocutory or permanent injunction in any civil action, suit or proceeding required by any act of congress to be heard and determined by a district court of three judges. " (emphasis added.) [ footnote 8 ] that section provides: "an interlocutory or permanent injunction restraining .....

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Jun 17 1974 (FN)

Scherk Vs. Alberto-culver Co.

Court : US Supreme Court

Decided on : Jun-17-1974

..... in "any contract touching two or more countries." this invocation of the "international contract" talisman might be applied to a situation where, for example, an interest in a foreign company or mutual fund was sold to an utterly unsophisticated american citizen, with material fraudulent misrepresentations made in this country. the arbitration clause could appear in the fine print of a ..... alberto-culver is an american corporation with its principal place of business and the vast bulk of its activity in this country, while scherk is a citizen of germany whose companies were organized under the laws of germany and liechtenstein. the negotiations leading to the signing of the contract in austria and to the closing in switzerland took place in the ..... jj., joined, post, p. 417 u. s. 521 . page 417 u. s. 508 mr. justice stewart delivered the opinion of the court. alberto-culver co., the respondent, is an american company incorporated in delaware with its principal office in illinois. it manufactures and distributes toiletries and hair products in this country and abroad. during the 1960's, alberto-culver decided to ..... bremen v. zapata off-shore co., 407 u. s. 1 , would be controlling. we have here, however, questions under the securities exchange act of 1934, which, in 3(a)(10), defines "security" as including any "note, stock, treasury stock, bond, debenture, certificate of interest or participation in any profit-sharing agreement. . . ." 15 u.s.c. 78c(a)(10). we held in tcherepnin .....

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Jun 26 1974 (FN)

Codispoti Vs. Pennsylvania

Court : US Supreme Court

Decided on : Jun-26-1974

..... furthering the constitutional goals enunciated in duncan v. louisiana, supra, and bloom v. illinois, supra. . the application of bloom to the consecutive sentences imposed for the separate contemptuous acts of codispoti and langnes is made even more questionable in light of the concession that the result would be different in other fact situations. it is indicated in the part ..... point during the trial. iii when the trial judge, however, postpones until after trial the final conviction and punishment of the accused or his lawyer for several or many acts of contempt committed during the trial, there is no overriding necessity for instant action to preserve order and no justification for dispensing with the ordinary rudiments of due process. ..... . 488 . our cases, however, do not expressly address petitioners' remaining argument that they were entitled to jury trials because the prison sentences imposed after post-trial convictions for contemptuous acts during trial were to be served consecutively page 418 u. s. 513 and, although each was no more than six months, aggregated more than six months in jail. [ footnote ..... of the court. * in december, 1966, petitioners dominick codispoti and herbert langnes were codefendants with richard mayberry in a criminal trial ending in a verdict of guilty. each acted as his own counsel, although legal advice was available from appointed counsel. at the conclusion of the trial, the judge pronounced mayberry guilty of 11 contempts committed during trial and .....

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Jun 19 1974 (FN)

Parker Vs. Levy

Court : US Supreme Court

Decided on : Jun-19-1974

..... the discretion of that court." [ footnote 5 ] the specification under art. 134 (charge ii) alleged in full: "in that captain howard b. levy, u.s. army, headquarters and headquarters company, united states army hospital, fort jackson, south carolina, did at fort jackson, south carolina, on or about the period february, 1966, to december, 1966, with design to promote disloyalty and ..... in defining "conduct unbecoming an officer and a gentleman": "there are certain moral attributes which belong to the ideal officer and the gentleman, a lack of which is indicated by acts of dishonesty or unfair dealing, of indecency or indecorum, or of lawlessness, injustice, or cruelty. not every one can be expected to meet ideal standards or to possess the ..... within the meaning of art. 134: "most important to the case is the government's contention that, regardless of any deficiencies under the smith act, the specification properly alleges, and the evidence adequately establishes, conduct to the discredit of the armed forces, in violation of article 134." " * * * *" "membership by a school teacher in an ..... " himself with a communist organization in germany. the serviceman argued that there was no allegation that he possessed any intent to overthrow the government by force, so that the smith act, 18 u.s.c. 2385, would not reach his conduct. the court of military appeals affirmed on the theory that his affiliation, nonetheless, brought "discredit" on the armed forces .....

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