construction of Section 396 of the Companies Act,
1956, which deals with compulsory amalgamation of companies by a
Central Government order when this becomes essential ... held by institutional investors. FTIL is a profitable
company, having a positive net worth of over INR 2500 crore, and is in
the business
Sasanka Sekhar Maity & Ors. Etc vs Union Of India & Ors on 9 May
court should always adopt
in determining the market value in matters of compulsory acquisition is
to eschew feats of imagination and sit in the armchair ... court should always adopt in determining market
value in the matter of compulsory acquisition would be to eschew
feats of imagination, sit in the armchair
preceding the take over
for the purpose of calculating the average annual net profit
was inappropriate as it did not reflect the true earning
capacity ... Constitution, as they stood originally,
were as follows:
"31. Compulsory acquisition of property.-
(1) No person shall be deprived of his property save
page, 362
"Rules enunciated by the courts for
determining compensation for compulsory
acquisition under the Land Acquisition Act
vary according to the nature ... made on the application of different
rules. Principle of capitalisation of net
rent at the current market rate on guilt-edged
securities, principle of reinstatement
other
immoveable property."
Section 9 of that Act provides for compulsory
registration. Section 12 provides that a dealer
registered under s. 9 shall ... deals with exemptions. It
reads:-
"15 The net turnover shall be determined
by deducting from dealer's gross turnover
during any given period
levied a penalty at the rate of two per cent, of the net tax pay-
able, the period of default being three months. The Income ... penalty was calculated on the tax as reduced by the compulsory deposit and the advance tax paid which was not correct, and that the amount
special needs of a particular purchaser; (ii) capitalization of the net annual profit out of the property at a rate equal in normal cases ... securities. Ordinarily, value of the property may be determined by capitalizing the net annual value obtainable in the market at the date of the notice
TRAV. ALL 750 NZ HRE LOAN 4451
Gross Pay 50003 Deductions 10249
Net Pay 39,754
Crl. Rev. P. 322/2020 ... ascertained keeping in mind that the
deductions only towards income tax and compulsory contributions like GPF,
EPF etc. are permitted and no deductions towards house
property may be taken to be Rs. 233-12-0 and the net annual rental may be fixed at Rs. 154-12-4. The only ... land. The next step should be to ascertain the net income. Having ascertained the net annual income it must be capitalised by computing the number
