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1 - 10 of 19 (0.20 seconds)Income Tax Rules, 1962
Section 132 in The Income Tax Act, 1961 [Entire Act]
Section 176 in The Indian Contract Act, 1872 [Entire Act]
Section 172 in The Indian Contract Act, 1872 [Entire Act]
Madras Pawn Brokers Association vs State Of Tamil Nadu. (And Other Cases) on 27 April, 1995
The decision of the Madras High Court in Madras Pawn Brokers Association v. State of Tamil Nadu (1995) 98 STC 457 relied in the CMP order also only states that the pledge has a special right over the pledged articles. If this is the legal position in so far as the rights of the pawnee in relation to the pawned articles it is not possible to hold that the Income Tax Department can invoke the provisions of section 132(6) read with section 132B, section 266 and Schedules 2 and 3 of the Income Tax Act, for as already stated, the said powers can be exercised only in relation to the properties absolutely belonged to the person from whom it is seized.
Commissioner Of Income-Tax vs Avkash Nidhi on 4 September, 1985
14. A Division Bench of the Gujarat High Court in CIT v. Avkash Nidhi (supra) had occasion to consider the said question in the context of pledging of certain shares of companies. In that context, His Lordship Justice A.M. Ahmadi (as His Lordship then was) considered the question with reference to the provisions of ss. 172 to 176 of the Contract Act and in the light of the decisions discussed hereinabove and observed as follows: