1994 (10) TMI 19

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..... and its right, title and interest in relation to its undertakings stood transferred and vested in the Central Government under section 3 of the Act. As per the provisions of section 4 of the Act, the whole assets, rights, leaseholds, powers, authorities and privileges, and all the property, movable and immovable, including lands, buildings, workshops, stores, instruments, machinery and equipment, bank balances, cash balances, cash on hand, reserve funds, investments and book debts and all other rights and interests in, or arising out of, such property as were immediately before the appointed day in the ownership, possession, power or control of the company, whether within or outside India, and all books of account, registers and all other d .....

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..... -tax, Baroda, by taking into consideration the past history of the assessee-company about late filing of returns or not responding to notices under section 154 of the Act timely, refused to condone the delay and entertain the revision. Hence, the petitioner approached this court. The petitioner is a public undertaking and discharging its functions under a statute in respect of the undertakings vested in by the order of the Central Government. Its obligation to discharge liabilities relating to the period prior to the appointed day incurred by the company to which the undertaking was earlier belonging, is governed by the statute and the mere fact that because of some delay in approaching the Commissioner for giving effect to the statutory .....

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..... fter the date of taking over; (d) wages, salaries and other dues of employees of the company and the dues on account of any deduction made from wages and salaries and other dues of employees, relating to any period commencing on and from the date of taking over; (e) any debt incurred by the company during any period commencing on and from the date of taking over, not being a debt falling under clause (a), clause (b) clause (c) or clause (d) or specified in category I of the Schedule, shall, on and from the appointed day, be the liability of the Central Government, or the State Government, or the Government company aforesaid and shall be discharged by the Central Government or the State Government or the Government company aforesaid as .....

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