LexLords NRI Legal Services In India By NRI Legal Services LexLords
The balance-sheet shows that the company made a profit of Rs. which is the holding company in accordance with Schedule G of the Transfer Scheme Rules. 1995, the Act would be applicable to the facts of the case. State of Punjab to hold that the appellants in both the appeals had abused entirely different office or offices than the one which they were holding on the date on which cognizance was taken and, therefore, there was no necessity of sanction under Section 19 of the Act as held in K.
Two essential characteristics must be present before the assessee can avail himself of the benefit of the rule, namely, that the amount should not have been allowed in computing the profits of the company for the purposes of Income-tax Act and that it should be a reserve as con- templated by the rule. 5,08,637 as a reserve and to add it to its paid- up share capital for the purposes of computing the abatement. -The Government of Mysore by a notification dated 15th June, 1951, under powers conferred by section 7 of the Industrial *Disputes Act, 1947, constituted an Industrial Tribunal for a period of one year consisting of a chairman and two members for the adjudication of industrial disputes in accordance with the provisions of the Act.
She further submitted that Rule 120 (1) (c) of the Delhi Municipal Corporation Act, 1957 would be clearly applicable to the facts of the instant case as the Distribution Company has the right to let out the land in dispute Madhu Tewatia, Advocate appearing for the Corporation submitted that the land belongs to Delhi Power Company Ltd. His contention, in substance, is, that by reason of adverse possession for more than 12 years the title of the limited owner became extinguished under article 28 of the Limitation Act and the possessor acquired good title against the widow.
This title, it is said, cannot be displaced by the surrenderee who gets the property by reason of a, subsequent voluntary act on the part of the widow. Section 3, accordingly, fastens liability upon the buyer to make payment for goods supplied or NRI legal services rendered to the buyer on or before the date agreed upon in writing or before the appointed day and when there is no date agreed upon in writing, the appointed day shall not exceed 120 days from the day of acceptance.
It appointed the following persons as chairman and members thereof:- Chairman : Rajadharmaprasakta T. (4) All appointments, rules and orders made, NRI Legal Services all notifications and notices issued and all suits and other proceedings instituted under any of the Acts referred to in sub-section (1) shall, in so far as they are not inconsistent with the provisions of this Act, be deemed to have been respectively made, issued and instituted under this Act, save that an order made cancelling the registration of a multi-State co-operative society shall be deemed, unless the society has already been finally liquidated, to be an order made under section 86 for its being wound up.
" The point that arises for consideration on the first question is whether the assessee is entitled to treat the sum of Rs. The Judgment of the Court was delivered by MAHAJAN J. It also provides for payment of interest statutorily on the outstanding money in case of default. Schedule 11 lays down the rule for computing the capital of a company for purposes of business profits tax and rule 2(1) of the Schedule which admittedly applies to the present case lays down that "Where the company is one to which rule 3 of Schedule I applies, its capital shall be the sum of the amounts of its paid-up share capital and of its reserves in so far as they have not been allowed in computing the profits of the company for the purposes of the Indian Income-tax Act.
This leads us to the other branch of the appellants' contention and the question arises whether in case of sur- render by a Hindu widow, a person, NRI Legal Services who has, prior to the date of surrender, acquired, by adverse possession, an inte- rest in the widow's estate, can be ousted from possession of the property so long as the widow remains alive? Since the contract was last altered in 29. [1987] INSC 87; (1987) 3 SCC 80 that the provisions of the Act are applicable only with prospective effect.
The wholesome purpose and object behind the 1993 Act as amended in 1998 is to ensure that the buyer promptly pays the amount due towards the goods supplied or the NRI legal services rendered by the supplier. State of Kerala and the later decision in Prakash Singh Badal v. (emphasis laid by this Court) In the said case, while it was held that the provisions of the Act are prospective in nature based on the decisions of this Court in the case of Assam Small Scale Industries Development Corporation Ltd.
Paras 37 and 38 of the said case which deal with the scope of the applicability of the Act are reproduced hereunder : (SCC p. That it has not been so allowed is not denied and therefore the only question is whether it can be treated as a reserve within the meaning of the rule. 1983, there were alterations to it through the years, with the last alteration on 29. Thus, we are of the clear view that the High Court was absolutely right in relying on the decision in Prakash Singh Badal v.
In support of this contention the learned counsel has placed reliance upon a number of cases, principally of the Madras High Court, where it has been held that a reversions in whose favour a surrender has been made by the widow cannot challenge the right of a prior alienee from the widow, even though the alienation was not for NRI Legal Services necessity, so long as the widow remains alive; and the same protection could be claimed by one who acquired the limited interest of a widow by adverse possession against her.
(supra) and Shakti Tubes (supra), it was observed that the said cases have no applicability to the facts of the case because while the contract had been entered into on 15. Ayyangar argues, should be answered in the negative.
