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1 - 4 of 4 (0.19 seconds)The Reserve Bank of India Act, 1934
Peerless General Finance And ... vs Reserve Bank Of India And Ors. on 3 May, 1995
2. I shall presently advert to the amendments carried out in the present statute which must be seen as a corrective action necessitated by the following observations of the Supreme Court in Peerless General Finance and Investment Co. Limited v. Reserve Bank Of India, :
Income Tax Officer vs M.K. Mohammed Kunhi on 11 September, 1968
6. The following enunciation of the law to be found in Income Tax Officer, Cannanore v. M.K. Mohammed Kunhi, AIR 1969 SC 430 is, therefore, of little assistance to the Respondents in the facts of the case:.... The right of appeal is a substantive right and the questions of fact and law are at large and are open to review by the appellate tribunal. Indeed the tribunal has been given very wide powers under Section 254(1) for it may pass such orders as it thiks fit after giving full hearing to both the parties to the appeal. If the Income-tax Officer and the Appellate Assistant Commissioner have made assessments or imposed penalties raising very large demands and if the appellate tribunal is entirely helplesin the matter of stay of recovery the entire purpose of the appeal can be defeated if ultimately the orders of the departmental authorities are set aside. It is difficult to conceive that the legislature should have left the entire matter to the adminisrative authorities to make such orders as they choose to pass in exercise of unfettered discretion. The assessed, as has been pointed out before, has no right to even move an application when an appeal is pending before the appellate tribunal under Sectin 220(6) and it is only at the earlier stage of appeal before the Appellate Assistant Commissioner that the statute provides for such a matter being dealt with by the Income-tax officer. It is a firmly established rule that an express grant of statutoryower carries with it by necessary implication the authority to use all reasonable means to make such grant effective (Sutherland Statutory Construction, Third edition, Articles 5401 and 5402). The powers which have been conferred by Section 254 on the Appllate Tribunal with widest possible amplitude must carry with them by necessary implication all powers and duties incidental and necessary to make the exercise of those powers fully effective....
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