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Judgment Search Results Home > Cases Phrase: income tax act Sorted by: old Court: supreme court of india Year: 2012 Page 2 of about 80 results (0.124 seconds)

Aug 31 2012 (SC)

Sahara India Real Estate Corporation Limited and Others. Vs. Securitie ...

Court : Supreme Court of India

Decided on : Aug-31-2012

Reported in : (2013)1SCC1

..... indicate how the said companies seek to secure the liabilities which the companies have incurred and how they will protect the debenture holders;(e) if returns have been filed under income tax act, 1961, the same may be annexed to the affidavit to be filed.25. civil appeals later came for admission on 9.1.2012 and the interim order granted was ..... the companies act, 1956 substantially incorporated the provisions of the english companies act, 1948. however, there has been considerable shift of principles and concepts after the formation of 1948 english ..... consideration.powers of sebi, central government, (mca), registrar of companies under the companies act and sebi act:54. the companies act, 1956 is a consolidation of the then existing laws, statutory rules and certain judgments laid down by the courts in india and england. this court in commissioner of income tax, gujarat v. girdhardas and co. private ltd. air 1967 sc 795, noticed that ..... receipt of subscription amounts from investors, the appellant-companies had issued different kinds of bonds (described as abode bonds, nirman bonds and real estate bonds, by sirecl; and multiple bonds, income bonds and housing bonds, by shicl). since the term hybrid has been expressed as means any security there can be no doubt that a hybrid is per-se a .....

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Sep 27 2012 (SC)

Commissioner of Income Tax-ii Vs. Krishi Utpadan Mandi Samiti

Court : Supreme Court of India

Decided on : Sep-27-2012

..... for determination in this batch of civil appeals, is as follows:whether amounts transferred by the assessee to mandi parishad would constitute application of income for charitable purposes within the meaning of section 11(1)(a) of the income tax act, 1961?m/s. krishi utpadan mandi samiti, respondent-assessee herein, is a market committee incorporated and registered under the uttar pradesh krishi utpadan ..... directed by the state government or the board.it is not in dispute that both, the mandi samiti and the mandi parishad, are duly registered under section 12aa of the income tax act, 1961 [1961 act, for short]. it is also not in dispute that, after the amendment of section 10(20) and section 10(29) by finance ..... of the market committee fund and the surplus, if any, has to be invested in such manner as may be prescribed. this is one circumstance in the 1964 act to indicate application of income. similarly, under section 19-b(2) of 1964 adhiniyam, the assessee is statutorily obliged to apply market development fund for the purposes of development of market area. under ..... ) to the fund(s) of mandi parishad. even the question framed by court/authorities below is whether amounts transferred by the mandi samiti would constitute application of income under section 11(1)(a) of 1961 act. therefore, the question of voluntary contribution under section 11(1)(d) or under section 12(1) does not arise. the question of control may be relevant .....

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Sep 27 2012 (SC)

Re: Special Reference No. 1 of 2012 [Under Article 143(1) of the Const ...

Court : Supreme Court of India

Decided on : Sep-27-2012

..... it clear that this judgment shall not prejudice any person in the action which may be taken by other investigating agencies under income tax act, 1961, prevention of money laundering act, 2002 and other similar statutes."it needs to be noticed that a review petition came to be filed by the union against ..... language of article 14 uses the word "state" which as per article 12, includes the executive organ. [see: basheshar nath vs. the commissioner of income tax, delhi & rajasthan & anr.[35]]. besides, article 14 is expressed in absolute terms and its effect is not curtailed by restrictions like those imposed on ..... light of the questions raised, upon which the case is decided. [also see: ambica quarry works vs. state of gujarat & ors.[20] and commissioner of income tax vs. sun engineering works (p) ltd.[21]]. in other words, the 'law declared' in a judgment, which is binding upon courts, is the ratio ..... from the extracts from the judgment reproduced below:"24. the orders of the minister reproduced above read: "the applicant has no regular income to support herself and her family", "the applicant is an educated lady and belongs to scheduled tribe community", "the applicant is unemployed and has ..... payment of damages or compensation against the state the ultimate sufferer is the common man. it is the tax payers' money which is paid for inaction of those who are entrusted under the act to discharge their duties in accordance with law. it is, therefore, necessary that the commission when it .....

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Oct 15 2012 (SC)

State of Maharashtra Through Cbi, Anti Corruption Branch, Mumbai. Vs. ...

Court : Supreme Court of India

Decided on : Oct-15-2012

Reported in : JT2012(10)SC446

..... respondent on the basis of the same. in fact, it is the income of his wife which was duly proved before the statutory authorities, under the income tax act 1961. subsequent to the conviction of the respondent, the appeal was allowed by the income tax appellate tribunal, mumbai, vide order dated 17.3.2009 wherein, it ..... of central excise, mumbai, for the offences punishable under section 13(2) r/w 13(1)(e) of the act 1988, alleging that he possessed assets disproportionate to his disclosed source of income which was to the extent of rs. 7,64,368/-b) after completing the investigation of the case, the ..... , air 2001 sc 3320, this court examined a case wherein a government servant who had been convicted under the provisions of the prevention of corruption act would lose his job in the event that the conviction was not stayed. the court held that when a public servant is found guilty of corruption ..... and 466 i.p.c. while the other respondents, who are also public servants, have been convicted under the provisions of the prevention of corruption act. in such a case, the discretionary power to suspend the conviction either under section 389 or under section 482 cr.p.c. should not have ..... investigating agency filed a charge-sheet dated 27.12.2000, under the said provisions of the act, 1988. the trial court concluded the trial .....

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Aug 08 2012 (SC)

Rattan Lal Vs. S.N. Bhalla and anr.

Court : Supreme Court of India

Decided on : Aug-08-2012

..... , appearing for the respondents, mr. mukul rohatgi, learned senior advocate, contended that despite the obligation cast upon the respondents to obtain the necessary sale permission and income tax clearance certificate, the appellant had taken upon himself the responsibility to obtain the same and the respondents could not be made responsible for the appellants failure to obtain ..... of limitation. mr. ahmad submitted that the very fact that the appellant took on himself the burden of assisting the respondents to procure the necessary sale permission and income tax clearance certificate, indicated his willingness and anxiety to complete the transaction. learned counsel submitted that despite the appellants readiness and willingness to complete the sale transaction, ..... the appellant was merely that of a facilitator and the primary responsibility for obtaining permission and clearance from the income tax authorities remained with the respondents. in fact, there is nothing on record to indicate that by his acts, the appellant ever agreed to play a role other than that of a supportive role and that too in ..... under the urban land (ceiling and regulation) act, 1976, for permission to transfer the said property to the purchaser/appellant free from all encumbrances, after obtaining requisite permissions from any other body or authority. in clause 3 of the agreement, the respondents also undertook to obtain the income tax clearance certificate immediately on obtaining the sale permission .....

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Aug 21 2012 (SC)

Vidur Impex and Traders Pvt. Ltd. and Others. Vs. Tosh Apartments Pvt. ...

Court : Supreme Court of India

Decided on : Aug-21-2012

..... 48 lacs each keeping the same below the prescribed limit of rs.50 lacs with a fraudulent intent to avoid the application of chapter xx-c of the income-tax act.(e) on coming to know of the aforesaid sale transactions, the plaintiff filed application under order xxxix rule 1 & 2 cpc for restraining the defendant ..... he further pleaded that the agreement was void and unenforceable because the requisite permission had not been obtained under section 269 uc of the income-tax act. respondent no.2 also filed suit no. 161/1999 for grant of a declaration that sale deeds executed in favour of the appellants ..... terms as the court deems fit to impose. in exercising its judicial discretion under order 1 rule 10(2) of the code, the court will of course act according to reason and fair play and not according to whims and caprice. (emphasis supplied)29. in kasturi v. iyyamperumal (supra), this court considered the ..... .l (since deceased).(g) though there was restraint order against defendant nos. 4 to 9, i.e. vidur impex & traders and others, not to act upon the impugned sale deeds, they entered into agreement dated 18.3.1997 for transfer of their purported rights and interest in the suit property in favour of ..... in the suit filed by respondent no.1. the appellants also invoked the doctrine of lis pendens embodied in section 52 of the transfer of property act, 1882 and pleaded that having purchased the property during the pendency of the suit by respondent no.1, they have acquired the right to contest the .....

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Oct 03 2012 (SC)

Girish Ramchandra Deshpande. Vs. Cen. Information Commr and ors.

Court : Supreme Court of India

Decided on : Oct-03-2012

Reported in : (2013)1SCC212

..... respondent, his family members and friends and relatives at the marriage of his son. the information mostly sought for finds a place in the income tax returns of the third respondent. the question that has come up for consideration is whether the above-mentioned information sought for qualifies to be ..... details as a matter of right.14. the details disclosed by a person in his income tax returns are personal information which stand exempted from disclosure under clause (j) of section 8(1) of the rti act, unless involves a larger public interest and the central public information officer or the state ..... been rightly held to be personal information exempted from disclosure under clause (j) of section 8(1) of the rti act by the cpio and the appellate authority, and ..... of the rti act. it may be pertinent to mention that this issue came up before the full bench of the commission in appeal no.cic/at/a/2008/000628 (milap choraria v. central board of direct taxes) and the commission vide its decision dated 15.6.2009 held that the income tax return have ..... on the ground that the information sought for was qualified to be personal information as defined in clause (j) of section 8(1) of the rti act.3. the petitioner herein had submitted an application on 27.8.2008 before the regional provident fund commissioner (ministry of labour, government of india) .....

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May 03 2012 (SC)

Super Cassetts Industries Ltd. Vs. Music Broadcast Pvt. Ltd.

Court : Supreme Court of India

Decided on : May-03-2012

..... income tax appellate tribunal to stay recovery of penalty was under consideration. although, such power was not directly vested in the tribunal, the high ..... been passed by the parliament of the united kingdom and modified in its application to india by the indian copyright act, 1914.29. in support of the submissions made by him, dr. singhvi referred to various decisions, beginning with the decision of this court in income tax officer vs. m.k. mohammed kunhi [(1969) 2 scr 65], wherein the power of the ..... provisions of the1994 act, the court observed that "if the legislature had so desired, nothing prevented it from conferring statutory power upon the election tribunal to grant interim stay or injunction or restraint ..... commission [air 1997 p & h 164], in which the high court was considering a similar question as to whether the election tribunal constituted under the punjab state election commission act, 1994, had the power to pass an injunction so as to restrain an elected representative from assuming office pending adjudication of an election petition filed against him.after considering various .....

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May 08 2012 (SC)

Narinderjit Singh Vs. North Star Estate Promoters Ltd.

Court : Supreme Court of India

Decided on : May-08-2012

..... his obligation by not extending cooperation in obtaining colonization licence from punjab urban development authority and itc certificate under section 34-a of the income tax act.4. in the joint written statement filed by the appellant and his father, the locus standi of the respondent to file the suit ..... court found that the appellant was dabbling in real estate transaction without means to purchase the property and observed: "section 16(c) of the act envisages that plaintiff must plead and prove that he had performed or has always been ready and willing to perform the essential terms of the contract ..... because the latter failed to get the requisite licence and any violation of the provisions of the act would have amounted to an offence.11. shri dushyant dave, learned senior counsel for the respondent supported the impugned judgment and argued that ..... v. a. ramadas rao (2011) 1 scc429. in the end, shri gupta referred to the provisions of the punjab apartment and property regulation act, 1995 and submitted that the appellant did not hand over possession of the suit property to the respondent for the purpose of development of residential colony ..... appellate court that the trial court was not justified in invoking the provisions of section 20 (2) (c) of the specific relief act, 1963 (for short, 'the act') for the purpose of declining substantive relief to the respondent. the learned single judge relied upon the judgments of this court in k. .....

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May 08 2012 (SC)

Bipromasz Bipron Trading Sa Vs. Bharat Electronics Limited(Bel)

Court : Supreme Court of India

Decided on : May-08-2012

..... the petitioner to entertain the plea that the arbitrator appointed by the respondent would not be impartial. the cmd itself would not be able to act independently and impartially being amenable to the directions issued by the ministry of defence. in similar circumstances, this court in the case of denel ( ..... following the agreed procedure of referring the dispute to the named arbitrator, appoint an independent arbitrator in accordance with section 11(8) of the act. in other words, referring the disputes to the named arbitrator shall be the rule. the chief justice or his designate will have to merely ..... admn., where there is material to create a reasonable apprehension that the person mentioned in the arbitration agreement as the arbitrator is not likely to act independently or impartially, or if the named person is not available, then the chief justice or his designate may, after recording reasons for not ..... case of the respondent that prior to the filing of the petition before this court, the chairman-cum-managing director, as sole arbitrator, has duly acted and exercised the power in appointing mr. r. chandra kumar, general manager (kot), bharat electronics ltd., district pauri garhwal, kotdwara-246149, as the ..... appealing against it or otherwise having it set aside. this is based upon, as observed by rajmannar, c.j. in muthia chettiar v. cit "a salutary and just principle". the application of this rule so far as the aggrieved party is concerned is not dependent on the provisions of .....

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