Finally, a notice of demand in the prescribed form, specifying the sum so payable, has to be served upon the tax-payer. In this connection, reference may be made to s. The method consists, of the following steps. We, therefore, hold that, under the mortgage deed, Exhibit A(3), there is a contract between NRI Legal Services the 1097 mortgagee and the mortgagor within the meaning of NRI Legal Services s. That by virtue of a subsequent event the value of the land in question was likely to fetch a much higher price than the price at which the property was sold on 17.
In Commissioner of Income-tax v. According to Section 158, any matter directed to be determined by Arbitration, unless there is expressed provision to the contrary in the license of a licensee, shall be determined by such person or persons as the Commission may nominate in that behalf on the application of either party; but in all other respects the Arbitration shall be subject to the provisions of the Arbitration and Conciliation Act, 1996. Section 95 declares that all proceedings before the Commission shall be deemed to be judicial proceedings within the meaning of Sections 193 and 228 of the Indian Penal Code and it shall be deemed to be a Civil Court for the purposes of Sections 345 and 346 of the Code of Criminal Procedure, 1973.
435-4-0 to the mortgagor and had a right to take the entire receipts from the land in lieu of interest. In order to answer them it is essential to bear in mind the method prescribed by the Act for making an assessment to tax, using the NRI Legal Services word assessment 99 776 in its comprehensive sense as including the whole procedure for imposing liability upon the tax-payer. ” These two questions are so closely related to one another that they can conveniently be considered together. Curimbhoy Ebrahim  S.
, as is vivid from his decision has not dealt with the petition under Article 32 of the Constitution, but directed that the curative petition has to be considered afresh in terms of the mandatory rules. on the basis of such computation has to be determined. His liability was also not confined to the receipts, for he was under a personal obligation to pay the amount to the mortgagor. Shortly stated, the mortgagee was under a personal obligation to pay Rs.
” If the word ‘ assessment ‘ is taken in its comprehensive sense, as we think it should be taken in the NRI Legal Services context of s. Section 158 is a solitary provision in Part XVI which provides for arbitration under the heading Dispute Resolution. On the other hand, the mortgagee was expressly authorized to take the entire income from the land and appropriate the same towards interest and the mortgagor agreed not to put forward any claim or demand in respect of any increase in the produce.
It is not a case, therefore, where receipts from the mortgaged property are divided between mortgagor and mortgagee, but one where the mortgagee pays a specified amount to the mortgagor and appropriates the entire receipts in lieu of interest. The Commission shall also have powers to pass suitable interim order and authorize any suitable person to represent the interest of the consumers in the proceedings before it.
As a sequitur, the dismissal of the curative petition by the three senior-most Judges of this Court has to be treated as correct and not vitiated by any kind of procedural irregularity. Though he had to pay the rent as a consideration for his enjoyment of the land as a mortgagee, his liability did not depend upon the receipts from the land-he had to pay, receipts or no receipts. Therefore, the next stage has to be delineation of the writ petition on merits.
In the next place, the sum payable by him. In the first place, the taxable income of the tax-payer has to be computed. At this juncture, it is condign to state that Kurian, J. Under Exhibit A(3), the mortgagee undertook an unconditional obligation to pay a sum of Rs. This obligation was not made to depend upon the receipts from the property in the possession of the mortgagee. In NRI Legal Services other words, in view of the revised regulations, it would be open to construct a much larger built up area on the property in question than what was permissible as on 17.
42(1) under which a charge is imposed on income, profits or gains accruing to a non-resident through any business connection in the taxable territories. Whether there was yield from NRI Legal Services the land or not, he had to make the payment to the mortgagor. The event being the revision of certain regulations (the Gujarat Town Planning and Urban Development Act, 1976) whereby the Floor Space Index (FSI) for construction applicable to the area in which the property in question is located had been increased from 1.
435-4-0 in respect of the property mortgaged to him. requisitioning of any public record; issuing commission for the examination of witnesses; reviewing its decisions, directions and orders; and any other matter which may be prescribed by the Commission. NRI Legal Services We have already recorded our disagreement with the same. 77 of the Transfer of Property Act, to the effect that NRI Legal Services the receipts from the mortgaged property should be taken in lieu of interest.