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Case Laws
Showing 121 to 140 of 444 Records
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1999 (3) TMI 486 - HIGH COURT OF RAJASTHAN
Transfer of shares - Power to refuse registration and appeal against refusal ... ... ... ... ..... circumstances of the case, when the plaintiff himself has stated that he had signed the transfer deeds and had kept them alongwith the share certificates and ultimately, it is found that someone has come to possess the transfer deeds and original shares and put them up before the company for the shares being registered in their names, it is clearly a case of cancellation of such registration of shares in the names of the transferees obtained by misrepresentation or fraud or any other reason. There is no question of declaration because when the register is rectified, automatically, the shares would revert back to the plaintiff. Moreover, the transferees would be necessary parties to suit for any such declaration and they are not impleaded. 9. In the aforesaid circumstances, the case is clearly cognizable by the CLB and as such, not by the civil court under section 9 of the Code. The revision petition is allowed. The order of Trial Court is set aside and the plaint is rejected.
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1999 (3) TMI 483 - HIGH COURT OF KARNATAKA
Amalgamation ... ... ... ... ..... rned counsel who represents the Official Liquidator. On a consideration of this scheme, the official Liquidator has filed his report indicating that he has no objection to the sanction of the scheme. 13. For the reasons indicated above, the Court accords formal sanction to the scheme. The petitions accordingly succeed. No order as to costs. The office is directed to draw up individual orders in each of the four petitions in terms of the draft orders submitted to the Court which have been scrutinised and approved by me and which have been signed. Two weeks time is granted for filing the schedule of assets to be incorporated in the drawn up order. 14. I would like to acknowledge the admirable assistance to the Court both as far as the analysis of the relatively heavy record is concerned but more importantly the principles of law and the case law that has been received from Mr. Raghavan and his team of learned counsel who appeared on behalf of the petitioners. SCL q JULY 5, 1999
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1999 (3) TMI 482 - HIGH COURT OF PUNJAB AND HARYANA
Company when deemed unable to pay its debts ... ... ... ... ..... ep silent by giving a reply, which would be least expected from a limited company. The reply was not even sent in routine but was sent through counsel. The court would be justified in drawing adverse inference against the respondent-company. The cumulative effect of the above discussion is that the respondent-company has no justifiable or bona fide dispute to the claim in question raised by the petitioner-company against it. In any case a sum of Rs. 7,68,100 after deducting the paid amount would be due with interest. No offer has been made on behalf of the respondent-company in court even to repay the said amount. Resultantly, this petition is admitted, as the respondent-company has failed to pay its admitted liability in spite of due service of the statutory notice. Notice of admission be published in the Tribune, Indian Express, Jansatta and the Official Gazette of the Union Territory, Chandigarh, giving 14 days clear notice to the parties prior to the next date of hearing.
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1999 (3) TMI 481 - HIGH COURT OF BOMBAY
Dividend - Payment of ... ... ... ... ..... uryakant A. Patel and Smt. Jyotsnaben S. Patel by respondent No. 1, the respondent No. 1 is directed to pay to the petitioners the first, second and sixth to eighteenth instalments as also remaining unpaid interest. (f)Liberty to the respondent No. 1 to sue Shri Suryakant A. Patel and Smt. Jyotsnaben S. Patel for recovery of the interest wrongly paid by them to the petitioners, if so advised. (g)Petitioners insofar as 72,000 debentures are concerned and the redemption value received thereon including interest, to file an undertaking to refund the amount to the Enforcement Directorate in the event any order is passed adverse to the petitioners alongwith interest at 10 per cent from the date of payment/deposit till repaid. The undertaking to be filed in this Court within four weeks from today. On filing such undertaking, liberty to the petitioners to withdraw the amount deposited. 11. In the circumstances of the case, there shall be no order as to costs. SCL q SEPTEMBER 5, 1999
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1999 (3) TMI 478 - HIGH COURT OF BOMBAY
Advertisement of notice of meeting ... ... ... ... ..... . If that could have been done at the stage of making the order, I see no reason why this court cannot do so when an order has already been passed, to abridge the time. The two cases would be similar. In one case time would be abridged before the meeting is called. In the other, after notice is issued. All that the court must do is to satisfy itself that no prejudice will be occasioned to the persons who have to attend the meeting being unable to attend the meeting because of short notice. In the instant case, the delay is, if at all, of one day. There has been substantial compliance with the requirement of notice. Learned counsel seeks to point out that in fact there will be no delay at all. I need not go into the issue as in the present application the petitioner had sought condonation of delay. I am satisfied that the petitioners have made out a sufficient cause for abridging the time. In the light of the matter, the petition is made absolute in terms of prayer clause (a).
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1999 (3) TMI 477 - HIGH COURT OF ANDHRA PRADESH
Winding up - Circumstances in which a company may be wound up ... ... ... ... ..... ved first the debt has to be proved and then the acknowledgement. No debt due to the company has been proved herein. The alleged agreement entered into by the first and second party was subject to the ratification by the board of directors which was never ratified. Thus, the company never incurred any liability, much less an admitted liability. Consequently, it is a bona fide dispute which requires to be determined in appropriate civil proceedings and such a course of action has already been initiated by the appellant herein by filing a civil suit. The company is a running company. By winding up the company, the rights of shareholders or other creditors, cannot be jeopardised as the appellant would be representing all the creditors of the company in case of the admission of the company petition. Thus, in the totality of the facts and circumstances of the case, we find no ground to interfere with the impugned order. The appeal is dismissed. There shall be no order as to costs.
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1999 (3) TMI 474 - HIGH COURT OF ANDHRA PRADESH
Amalgamation ... ... ... ... ..... ansferee-company and also weighed with the General Body of equity shareholders who approved the Scheme and the ratio with overwhelming majority. No grievance therefore, can be made by the appellant at the stage of Company Petition proceedings for demonstrating the ratio to be ex facie unfair and unacceptable as the appellant would like to have it. From the above judgment it is clear that the petitioner in this case also cannot expect or insist for furnishing any mathematical calculation demonstrating the exchange ratio that is arrived at, and furnishing such mathematical calculations undertaken by the valuers, therefore, cannot be said to form part of the statement to be furnished under section 393(1) and (3) or under section 173(2). In view of this established position of law, I do not think that there are any merits in this application and accordingly, I pass the order as under mdash Company Application No. 6 of 1999 is hereby dismissed, but without costs. SCL q MAY 5, 1999
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1999 (3) TMI 450 - ITAT NAGPUR
Method of accounting ... ... ... ... ..... see that it was not possible for the assessee to quantify the amount of interest accrued. Relying upon the decision of the Patna High Court in the case of Chhabirani Agro Industrial Enterprises Ltd. v. CIT 1991 93 CTR 43, the ld. CIT(A) held that it was open to the assessee to treat the amount for tax purpose as computed by the bank as it was not possible for the assessee to quantify the amount of interest. Thus, he deleted the addition. Aggrieved by the above order, the revenue is in appeal before the Tribunal. 9. In view of the submission of the assessee and the finding of the learned CIT(A) that the assessee was regularly following the method of accounting of offering the amount of interest for tax as certified by the bank. Inclusion of the notional interest accrued to the assessee was not justified. I uphold the order of the learned CIT(A). The appeal by the revenue on this ground fails and is dismissed. 10. In the result, the appeal by the revenue fails and is dismissed.
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1999 (3) TMI 445 - CEGAT, NEW DELHI
... ...
... ... ..... Mahindra and Mahindra Ltd. v. C.C.E. reported in 1998 (103) E.L.T. 606 (T). 3. emsp Shri Shiv Kumar, ld. D.R. appearing for the Revenue justified the action of the Department in adding the advertisement expenses to the assessable value and reiterated the findings given by the authorities below. 4. emsp We have carefully considered the matter. We find that the issue involved in this case has been covered in the aforesaid cases as it was rightly pointed out by ld. Counsel, further, we find that party has recovered the advertisement expenses only from some of the dealers and there is no findings by the authorities below that there is any nexus between the advertisement expenses incurred by the assessee on behalf of the dealers with reference to the assessable value. In the facts and circumstances, following the ratio of the aforesaid decisions we accept the contention of the assessee and accordingly appeal is allowed on this issue with consequential relief. Ordered accordingly.
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1999 (3) TMI 437 - CEGAT, MUMBAI
Valuation - Penalty ... ... ... ... ..... 4 is set aside. 5. emsp The representative for SC did not dispute the liability to duty for the period prior to 1-3-94. This part of the Commissioner rsquo s order is confirmed. The duty for this period confirmed is Rs. 38,595/-. However, the penalty cannot be sustained in view of the fact that the contravention took place prior to 1-3-94 and the Sec. 11AC was enacted in September, 1996. The relationship between SC and Parrys was that of buyer and seller. The Commissioner finds that the duty liability to be discharged by SC and not by Parrys. Having regard to this fact and also the quantum of duty demanded, we set aside the penalty imposed on Parrys. For the same reason, we do not find any reason to confirm the confiscation of plant and machinery. Interest is also not demandable in view of the provisions of sub-section (2) of Sec. 11AB which was enacted on 28-9-96. 6. emsp Appeal No. E/3151 is partially allowed and appeal No. E/3185 is allowed. Consequential relief to follow.
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1999 (3) TMI 428 - CEGAT, MUMBAI
Duty liability - Rate of duty - Interpretation of statute - Penalty ... ... ... ... ..... that penalty would not be imposed for each specific contravention, each specific act of removal or bringing into tobacco cannot be sustained, has to be accepted. The notice to show cause was a single notice, incorporating all the transactions. In Kanpur Cigarettes v. CCE 1996 (84) E.L.T. 482 , the Tribunal noted that Rule 9(2) prescribes maximum penalty of Rs. 2000/-, Rule 52A Rs. 1000/-, and Rule 226, Rs. 2000/-. In this background, it is said that the Collector could not have imposed a penalty of Rs. 40 lakhs on the appellant before it, for not paying duty on cigarettes manufactured, for not accounting in the RG 1 register during the period from 8-5-85 to 23-7-85. That ratio would apply to the facts of the case. Penalty has been imposed for different acts for contravention of Rules 32, 151 and 226. The maximum penalty imposable in each case is Rs. 2000/-. Accordingly, we reduce the penalty on the appellant to Rs. 6000/-. 6. emsp Appeal allowed in part. Consequential relief.
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1999 (3) TMI 427 - CEGAT, CHENNAI
SSI Exemption - Brand name ... ... ... ... ..... l institute with their initials ldquo P.S.G. rdquo is considered to be a brand name for the base plates. The initials ldquo P.S.G. rdquo refers to the industrial institute and merely because the industrial institute rsquo s initials are incorporated on the item manufactured that by itself cannot be considered as the brand name of the excisable goods that are produced and marketed. Further, P.S.G. Industrial institute is not a manufacturer and they do not come within the ambit of Excise Act and they are only a technical institute. In terms of the Hon rsquo ble Supreme Court judgment in the case of M/s. Astra Pharmaceuticals (P) Ltd., supra affixing the house name or product name could not come within the ambit of the term brand name. 6. emsp Therefore, taking the overall facts and circumstances of the case and by applying the ratio of the said judgment, we find that there is basic error in the order and the same is set aside and the appeal is allowed with consequential relief.
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1999 (3) TMI 413 - CEGAT, CHENNAI
Demand of Modvat - Packing material for inputs ... ... ... ... ..... . 3. emsp Heard ld. DR who reiterates the departmental view. 4. emsp On careful consideration of the submissions, we notice that the Commissioner had followed the Tribunal judgment in the case of West Coast Industrial Gases Ltd. as reported in 1996 (83) E.L.T. 358. This judgment has since been recalled as reported in 1998 (104) E.L.T. 478 and after re-hearing, the appeal was allowed by Order No. 1821/98, dated 16-9-1998 1999 (108) E.L.T. 383 (T) . In terms of judgment rendered in the case of I.O.L. Ltd. (supra), subsequently again the WRB has passed the similar order in Castrol India Ltd. Therefore, the present legal position is that there is uniformity of opinion in all the Benches, the appellants are entitled to remove metal drums after availing Modvat credit without payment of duty as demanded by the Department under the relevant sub-heading. In that view of the matter, respectfully following the judgments cited, the impugned order is set aside and the appeals are allowed.
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1999 (3) TMI 412 - CEGAT, CHENNAI
Classification of goods, Change in - Appeal - Miscellaneous Application ... ... ... ... ..... earing the appellants by relying of materials as noted, thus it has resulted in violation of principles of natural justice. Their case was also not fully dealt with by the Commissioner (Appeals) and the materials produced by them was also not examined and a very brief order has been passed by the Commissioner (Appeals). Thus, the complaint of violation of principles of natural justice is justified. In that view of the matter we set aside the impugned orders and remand the matter to the Assistant Commissioner who shall grant an opportunity of hearing to the appellants and permit them to file all the materials relied by them and after hearing the appellants, pass a considered detailed speaking order. At this stage, ld. Counsel seeks for a direction to the Assistant Commissioner to decide the matter expeditiously as the goods are still under Customs rsquo control. The Assistant Commissioner may take up the matter expeditiously and pass an order in terms of the observations made.
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1999 (3) TMI 400 - CEGAT, NEW DELHI
Classification ... ... ... ... ..... ding No. 3901.99 of C.T.A. 5. emsp We have considered the submissions of both the sides. We observe that it is mentioned in the show cause notice itself that M/s. Tosoh Corporation, Japan manufactures TOSO-CSM and market the same under different grades, viz. T.S. 430, T.S. 320, T.S. 530, etc. The product in question in the case of Universal Cables Ltd. and Others v. Collector of Customs, Bombay, (supra) was TOSO CSM 430 which has been held to be classifiable under Heading 40.02 of the Customs Tariff Act. The impugned product T.S. 530, being another grade of the Product which was the subject matter for consideration in Universal Cables case, the ratio of the said decision is squarely applicable to the facts of the present appeals. Accordingly, following the ratio of the decision in Universal Cable Ltd. (supra) we held that the impugned product is classifiable under Heading 40.02 of the Customs Tariff Act. The order is therefore, set aside and all the three appeals are allowed.
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1999 (3) TMI 393 - CEGAT, CHENNAI
Classification ... ... ... ... ..... not under Heading 2936 ibid in view of HSN Explanatory Notes, trade usage and technical literature as discussed in the said order. In the present case also the evidence produced by the assessee which has been accepted by the Commissioner clearly discloses that the items are animal feed supplement and therefore they cannot be considered as chemicals for other purpose of classification under Chapter 29 or under Chapter 28.35 as Di-Calcium Phosphate. All these aspects of the matter had been discussed in the Larger Bench judgment, therefore we feel that there is no point left for any other opinion to be expressed by this Bench. Therefore, by taking the appeal itself, we are of the considered opinion that the ratio of the Larger Bench judgment referred to above is completely applicable to the facts of this case. Respectfully following the ratio of the above judgment we find there is no merit in the stay application and hence the stay application as well as the appeal is rejected.
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1999 (3) TMI 386 - CEGAT, NEW DELHI
Manufacture - Structural ... ... ... ... ..... liable to duty. 2. emsp Recently the Tribunal has decided by its judgment in the case of Elecon Engineering Co. Ltd. and Ors. v. C.C.E., Chandigarh and Ors., reported in 1999 (107) E.L.T. 337 (Tribunal) 1999 (31) RLT 5 that this activity does not amount to manufacture and items so fabricated are not new commodities. Consequently, relying upon the said judgment, we set aside the impugned order and allow the appeal with consequential relief to the appellants.
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1999 (3) TMI 382 - CEGAT, NEW DELHI
Demand - Limitation - Medicines - Brand Name ... ... ... ... ..... then it could be said that a relationship between the monograph and the medicine was established. In the case of appellant it was only a monograph to identify the manufacture. rdquo 8. emsp We agree with the submissions of the learned counsel that clauses 17 and 18 of the agreement do not give the proprietary status to the medicine at all. The agreement was in respect of supply of equipment and machinery for a production line of intraveneous solution in PVC bags and not for medicine itself. Clause 17 of the agreement conferred the right to the buyer (Appellants) over the pouch and label designed by them. It has no connection whatsoever with the medicine which is filled in the pouches designed and manufactured by the appellants. Further the Department has not adduced any evidence to prove that the medicine in question were special preparations made by the appellants in which they could claim proprietary rights. Accordingly we allow the appeal and set aside the impugned order.
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1999 (3) TMI 381 - CEGAT, MUMBAI
Modvat credit ... ... ... ... ..... er what provision confiscation could be ordered on inputs used in the factory only on the ground that they were stored outside. Technically, it may be said that since the goods had not entered the factory, credit could not be taken on them they could have entered the factory. The only objection there would be that credit was taken sometime before they entered the factory. The Superintendent had given permission to store the goods at the factory gate. This is an ambiguous terms it may refer to storage within or outside the factory. If the goods were actually utilised as inputs in the manufacture of finished products, we are of the view that credit should not be denied in the facts of this case. It should be allowed if the appellant produces evidence of this utilisation towards manufacture of finished product in the factory. 12. emsp We see no reason to interfere with any other portion of the order. Appeal is allowed to this extent. Commissioner to pass orders according to law.
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1999 (3) TMI 380 - CEGAT, MUMBAI
... ...
... ... ..... ially availed of, the same was reversed later. Shri Nankani submits that in the case of appeal No. C/1002 the value based advance licence dated 22-7-1994 was subsequently converted into a quantity based advance licence vide amendment made by the competent authority on 8-6-1995. It is his submission that the amendment would apply retrospectively and therefore the licence should be treated as a quantity based advance licence. We do not wish to comment on this submission at this stage but would leave it to the Commissioner to take this into account if thought necessary for disposal of the dispute. In the circumstances, we feel that the Commissioner should have the opportunity to examine the documents placed on record by the present appellants. We therefore set aside both the impugned orders and remand the cases back to the jurisdictional Commissioner for him to examine the documents and to pass appropriate orders in both cases. Stay applications are also disposed of accordingly.
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