noticed that there are
two categories of Members - Ordinary Members and Nominal
Members and the transactions with non-Members being third
parties is not entitled ... Counsel that there is no distinction between ordinary members
and nominal members and all the members are having equal
rights. He referred to the definition
Income Tax Act,
1961 on Interest Received on Loans given to Nominal Members
(Disallowance ... erred in law and on facts in not
appreciating the facts that Nominal Members is one of the category of
-2-
ITA No.1173
provided hereinafter :
Acharya Shri Rajneeshji as the adviser of the trust shall nominate up to 5 (five) (may be at a time or from time ... time but the total number of members so nominated shall not exceed 5) members on the Board of trustees and the trustees nominated shall constitute
shown from the profit on sale of investments.
On the expenditure side nominal expenditures on different heads
like audit fee (Rs 2,500/-); printing ... seen that entire deposit money is issued by way of cheque leaving
nominal amount of Rs. 1000/- to Rs. 5000/- in the bank
account
same
contextual fabric. The categories of resident
members, ordinary members and nominal members
exist. This invokes the question of whether the
assessee is merely providing ... Society Ltd. (supra) categorically decided when
deposits are received from general public / nominal members
or loans are disbursed to general public / nominal members,
the assessee
Society Ltd. (supra)
categorically decided when deposits are received from general
public / nominal members or loans are disbursed to general
public / nominal members, the assessee ... Service Co-op.Bank Ltd.
view that the assessee therein cannot admit `nominal
members' and most of the deposits were taken from such
category
deriving income from the activity of providing
credit facilities to the members/nominal members, filed its return
of income for the relevant A.Y. During ... observed that the assessee has
admitted nominal members in violation of the rules of the A.P.
Cooperative Societies Act, 1964 and further by accepting
Respondent
Company had unanimously endorsed the recommendation of the
'Nomination Remuneration Committee' (a statutorily mandated
committee under the Companies Act, 2013 to review ... management of Tata Sons Limited' (1st
Respondent Company) or nominate any directors to the board of Tata Sons
Limited' (1st Respondent Company). Tata
rent in respect of the land
allotted to the assesseecompany being very nominal i.e. at Rs.40 per
year,the payment was nothing else ... question would not assume a different
character. The lease rent was very nominal. By obtaining the land on lease
the capital structure of the assessee
resolution
professional; or
(b) rejecting the appointment of the resolution professional
and nominating another resolution professional for the
insolvency resolution process.
(3) Where an application ... Board, within seven days of the filing of such
application, to nominate a resolution professional for the
insolvency resolution process.
Company Appeal (AT) (Insolvency
