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Case Laws
Showing 21 to 40 of 623 Records
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2004 (2) TMI 722 - ITAT DELHI
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... ... ..... of capital asset held by the assessee is exigible to tax under the head capital gains is liable to be upheld. We also sustain the direction of the CIT(A) that the Assessing Officer would calculate the long term capital gains after allowing deduction of expenses incurred in connection with the sale of the property. 10. In support of the view taken by us above, reliance is placed on the decision of Bombay High Court in the case of Cadell Wvg. Co. (P.) Ltd. v. CIT 2001 249 ITR 265 1 which has been cited by the ld. counsel. Further reliance is placed on the decision of Special Bench of the Tribunal in the case of J.C. Chandiok v. Dy. CIT 238 ITR 89 (AT). In our opinion, since the receipt is capital per se, there is no justification to bring to tax the receipt as a revenue receipt. It could have been charged to tax only under the head capital gains as held by us above. We, therefore, reject the contention of the revenue. 11. In the result, the appeal of the revenue is dismissed.
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2004 (2) TMI 721 - SC ORDER
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... ... ..... , M/s Arputham,Aruna & Co., Mr.Dhruv Agrawal, Mr. Praveen Kumar, ORDER On the understanding that no steps will be taken by the State to recover any of the past dues against Indian Oil Corpn. for a period of two weeks, the matter is adjourned till Holi holidays.
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2004 (2) TMI 720 - SC ORDER
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... ... ..... K. Pandey, ORDER In SLP(C) 2757-58/2004 Issue notice on the application for impleadment. Leave granted. The operation of the impugned judgment is stayed subject to the appellant’s depositing all taxes that may be realized by the appellant from the respondents after 27.1.2004 in a separate interest bearing account. This amount and the interest accrued thereon shall be held subject to the further orders of this Court. SLP(C)No. 3033/2004 Delink this matter.
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2004 (2) TMI 719 - SC ORDER
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... ... ..... erfere. The appeal is dismissed. There will be no order as to costs.
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2004 (2) TMI 718 - SUPREME COURT
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... ... ..... fer of suit from Rewa to the Court at Visakhapatnam. 13. It was pointed out at the hearing that part evidence has been recorded by the Rewa Court. There is some controversy whether the defendant in Rewa Court has adduced all its evidence or the evidence has been closed and the right of adducing further evidence needs to be restored. However, in view of the transfer, that aspect of the case loses all its significance. 14. The District Judge, Rewa shall soon on communication of this order transmit the record of Original Suit No. 3B/98 -Jaypee Rewa Cement (A Division of Jai Prakash Industries Limited) v. Chitivalasa Jute Mills (A Division of Willard India Limited), to the Court of First Additional Subordinate Judge at Visakhapatnam. The District Judge, Visakhapatnam shall see that the two suits are placed before one Court and on one data of hearing, whereafter the two suits shall be heard and decided consistently with the observations made hereinabove. No order as to the costs.
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2004 (2) TMI 717 - SUPREME COURT
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... ... ..... s well settled that law of limitation bars the remedy of the claimant to recover the rent for the period beyond three years prior to the institution of the suit, but that cannot be a ground for defeating the claim of the landlord for decree of eviction on satisfaction of the ingredients of Section 11 (l)(d) of the said Act, 1982. In the case of Bombay Dyeing & Manufacturing Co. Ltd. v. The State of Bombay and Ors., reported in AIR (1958) SC 328 it has been held that when the debt becomes time barred the amount is not recoverable lawfully through the process of the court, but it will not mean that the amount has become not lawfully payable. Law does not bar a debtor to pay nor a creditor to accept a barred debt. We have gone through the judgment of this Court in the case of Rashik LaL and Ors. v. Shah Gokuldas, reported in AIR (1989) SC 920 and the said case has no application to the facts of the present case. For the foregoing reasons special leave petition is dismissed.
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2004 (2) TMI 716 - DELHI HIGH COURT
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... ... ..... to be examined by this court. The Tribunal has correctly applied its mind with regard to the refund and considering the decision cited at the bar in case of Modi Industries Ltd and Ors vs CIT and Another (1995) 216 ITR 759 (SC), we find that no interference is called for in this matter and hence the appeal is dismissed.
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2004 (2) TMI 715 - COMPANY LAW BOARD, CHENNAI
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... ... ..... rifying the same. Going by spirit of these regulations, the statement of objections filed with intension to contest the present application must necessarily be accompanied by an affidavit. Nonetheless, the various proceedings referred to by the respondent are matters of record, supported by the documents available before me, which speak for themselves. I, therefore, need not place any reliance on the statement of objections filed by the petitioner in the Company Petition to decide the issue of maintainability of the present Company Petition. The issue as to whether the petitioner is entitled for any equitable remedy for having suppressed the various Company Petitions and pendency of CP No. 15 and 16/2003 would be considered, while the Company Petition is decided on merits and not at this stage. In these circumstances, the respondent is directed to file counter by 31.03.2004 and rejoinder to be filed by 15.04.2004. The Company Petition will be heard on 24.04.2004 at 2.30 p.m.
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2004 (2) TMI 714 - SUPREME COURT
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... ... ..... he Scheme is not correct. It was submitted that all possible efforts have been made to recover amounts. In our view, no rational ground of challenge to the scheme has been made out at all. A full audit has been carried out. The Scheme has taken into consideration all known assets of SBL. Efforts to recover debts have been made. However, even if there were no sufficient efforts of recovery that would not be a ground for setting aside the Scheme. Section 22 set out above permitted SBL to continue to operate as a Banking Company. Therefore, the provisions of the Act applied to it. It must be mentioned that an offer was made to the Petitioners that if they felt that there was no proper recovery the debts could be assigned to them in satisfaction of their dues and they could undertake recoveries. Knowing fully well that there was no feasibility of recovery, the offer was not accepted. We see no substance in these Writ Petitions. The same stand dismissed with no Order as to costs.
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2004 (2) TMI 713 - BOMBAY HIGH COURT
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... ... ..... agistrate 40th Court at Girgaum, Mumbai, need to be quashed as against the petitioner. For the same reasons, the proceedings of Criminal Case No. 206/S of 1998 pending before the 40th Metropolitan Magistrate Court at Girgaum, Mumbai, which are the subject matter of Criminal Writ Petition No. 549 of 1998 also need to be quashed as against the petitioner. Hence the following orders ORDER The proceedings arising out of the Criminal Case No. 206/S of 1998 and Criminal Case No. 208/S of 1998 pending before the learned Metropolitan Magistrate, 40th Court at Girgaum, Mumbai, are quashed and set aside only so far as they relate to the present petitioner. It is clarified that the proceedings of the said cases can proceed as against the rest of the accused. Interim stay granted by this court is vacated. Writ of this court to go to the trial court immediately. 15. Criminal Writ Petition No. 548 of 1998 and Criminal Writ Petition No. 549 of 1998 are disposed of in the aforestated terms.
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2004 (2) TMI 712 - CALCUTTA HIGH COURT
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... ... ..... Assessing Officer. Accordingly, the approval is not in consonance with the requirement of law, as such this impugned order is set aside. If any action has been taken, then the respondent authority shall restore the writ petition in position, as if there was no special audit. However, this judgment and order will not prevent and prejudice the respondents if they are advised to proceed afresh but then this has to be done complying with the aforesaid observation. 36. Thus the petition succeeds. 37. There will be no order as to costs. 38. In view of the earlier order, the Department will be entitled to have extension from March 31, 2004, for the period during which this writ petition being W. P. No. 1897 of 2003 was pending till today. 39. Original file which was submitted to the court and kept on record is returned herewith to learned counsel for the Revenue. 40. Let urgent xeroxed certified copies of this judgment and order be supplied to the parties, if applied for the same.
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2004 (2) TMI 711 - GUJARAT HIGH COURT
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... ... ..... ghts of the Unsecured Creditors and Secured Creditor of the applicant - Company are not affected in any manner. Hence, the applicant Company is not required to convene and hold the meeting of the Unsecured Creditors and Secured Creditor. 3. Mr.Thakore referred to paragraph 16 of the Application to show that the Transferee Company, in the facts of the present case, is not required to make a separate Application. Mr.Thakore submitted that the application by the Transferee Company is not required to be filed in view of the fact that the applicant - Company is a wholly owned subsidiary of the Transferee Company. In light of the judgments cited, a separate application by the Transferee Company is not necessary. 4. Accordingly, convening and holding of meetings of the Equity shareholders, Secured and Unsecured Creditor is dispensed with. 5. The applicant - Company shall file the petition within a period of 14 days from today. The Company Application accordingly stands disposed of.
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2004 (2) TMI 710 - SUPREME COURT
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... ... ..... In order to find the accused guilty of an assault with intent to commit a rape, court must be satisfied that the accused, when he laid hold of the prosecutrix, not only desired to gratify his passions upon her person but that he intended to do so at all events, and notwithstanding any resistance on her part. The point of distinction between an offence of attempt to commit rape and to commit indecent assault is that there should be some action on the part of the accused which would show that he was just going to have sexual connection with her. In that view of the matter, it would be appropriate to set aside the conviction of the appellants under Section 376 (2)(g) and convict them under Section 354 read with Section 34 IPC. Custodial sentence of two years each, with a fine of ₹ 500/- each and a default stipulation of three months rigorous imprisonment in case of failure to pay the fine would meet the ends of justice. The appeal is allowed to the extent indicated above.
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2004 (2) TMI 709 - SUPREME COURT
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... ... ..... by the Tribunal in the absence of any challenge to it before the High Court. The appeal is allowed to the extent indicated above, with no order as to costs. 10. Before we part with the case we think it necessary to point out a somewhat shocking state of affairs which came to our notice. In the Claim Petition filed before the Tribunal, this Court and the High Court of Karnataka, Bangalore were impleaded as respondents for no sensible reason, and in gross abuse of process of law, though by hindsight absurdity seems to have been set right by ordering deletion. Though these parties were given up during adjudication, it is clear that the Claim Petition was filed without any application of mind by the counsel concerned as to who would be proper or necessary party or even a formal party and great sense of responsibility is expected to be exhibited by those concerned. At least while impleading a party in Claim Petition, proper attention ought to be devoted which sadly was not done.
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2004 (2) TMI 708 - SC ORDER
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... ... ..... refiling the appeals. Applications for condonation of delay are dismissed. Accordingly, the Appeals are also dismissed. The question of law is left open.
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2004 (2) TMI 707 - PUNJAB AND HARYANA HIGH COURT
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... ... ..... S.402 of the Companies Act. 61. As already noted above, the relief that has been sought by Group B cannot be granted by an Arbitrator and is available only under the provisions of Sections 397 and 398 read with Sections 402 and 403 from the Company Law Board. Moreover, the statutory jurisdiction of the Company Law Board and the right of appeal against its orders cannot be ousted even by consent of parties. In this view of the matter, Mr. Aggarwal's argument based on the analogy of the Specific Relief Act and the Partnership Act and the judgments relied upon by him can have absolutely no applicability. 62. We accordingly affirm the judgment of the learned Single Judge and dismiss the appeal. Copies of the judgment be provided dasti on application and in the meanwhile (in the light of the directions of the Hon'ble Supreme Court with regard to the urgency in the matter) we direct the Reader to supply a copy each to the parties/or their counsel under his own signatures.
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2004 (2) TMI 706 - CALCUTTA HIGH COURT
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... ... ..... the upper limit of 250 KL. Incidentally the respondent No. 1 was also benefited by that when their quota in respect of other outlet got increased by virtue of such cancellation. 23. We do not find any mala fide on the part of the oil company while rectifying such mistake. We fail to understand how this mistake could crop up and how the respondent No. 1 enjoyed additional quota de hors the agreement since 2000. We express our strong displeasure in the working of the oil company in this regard. 24. In the result the appeal succeeds and is allowed. The judgment and order of the learned Single Judge dated April 1, 2003 is set aside. Writ petition of the respondent No. 1 being W.P. No. 2086 of 2002 is dismissed. 25. There would be no order as to costs. 26. Urgent xerox certified copy would be given to the parties, if applied for. A.K. Mathur, CJ. 27. I agree. 28. The stay of the judgment/order, as prayed for by the learned Counsel for the respondents, is considered and rejected.
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2004 (2) TMI 705 - SUPREME COURT
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... ... ..... the position, the High Court's judgment convicting the accused Devender suffers from no infirmity. However, custodial sentence imposed appears to be slightly on the higher side. Considering the peculiar circumstances of the case, we reduce the same to three months, instead of one year as directed by the High Court. Criminal appeal No. 1036/1997 is allowed only in respect of the sentence though challenge to the conviction has failed. Coming to the appeal filed by the complainant, against acquittal of Mala it is seen that her presence at the time of the transaction has not been established. Though she had signed the cheque, admittedly the same was handed over to complainant only by accused Devender. Therefore, there was no deception established so far as she is concerned. The High Court has rightly held that the accusations have not been brought home so far as she is concerned. The appeal filed by the complainant i.e. Criminal Appeal No. 1050/1997 is accordingly dismissed.
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2004 (2) TMI 704 - KARNATAKA HIGH COURT
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... ... ..... he facts in detail, the Tribunal has recorded a finding that the litigation expenses were incurred not to protect the lease hold rights or to protect its title, but were incurred to defend its right to carry on business of a hotel where pork and wine are served and therefore, the expenses are revenue in nature. This is purely a finding of fact and does not involve any question of law. 2. Having realised the said position, the learned counsel for the appellants fairly sought leave to withdraw the appeal as no substantial question of law arises for consideration in this appeal. The appeal is, accordingly, dismissed.
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2004 (2) TMI 703 - SUPREME COURT
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... ... ..... satisfaction of the Special Judge, EC/NDPS, Madurai on the following conditions (1) The counsel for the appellants requested that the appellants may be allowed to stay outside the State of Tamil Nadu. We are not inclined to grant such a prayer as the respondents police authorities would not be able to ensure the timely presence of the appellants in Court; (2) The appellants shall not leave jurisdiction of the District Court, Madurai and shall report before the Circle Inspector, Karuppayurani Police Station once in two weeks for 3 months, thereafter, once in a month. (3) The appellants shall surrender their pass-port before the Court, if not already seized by the police. The Special Judge is directed to expedite the trial. Whatever the statement made regarding the merits of the case shall not have any persuasive effect on the Special Judge while finally deciding the case. 8. The appeal is disposed of. 9. T.P.(Crl) No. 316/2003 The Transfer Petition is dismissed as withdrawn.
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