Monthly Archives: December 2013

The Income Tax Department will now accept the Aadhaar Card as a Proof of Identity & Address for Issue the PAN

The Income Tax Department will now accept Aadhaar Card as a proof of identity and
address for issuance of Permanent Account Number
(PAN).

The Central Board of Direct Taxes (CBDT) has issued
a notification expanding the list of documents
admissible as proof of identity and address by
including Aadhaar Card.

Aadhaar is a 12-Digit Individual Identification Number issued by the Unique Identification
Authority of India (UIDAI) on behalf of the
Government of India .

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Recovery of Possession of Immovable Property under Section 5 and Section 6 of Specific Relief Act, 1963

Recovery of Possession of Immovable Property under Section 5 and Section 6 of Specific Relief Act, 1963

Section 5 & Section 6 of the Specific Relief Act, 1963 provide for the remedy of Recovering Possession of Immovable Property.

Section 5 deals with Recovery of Immovable Property on the strength of Title.

Section 6 deals with Revovery of Immovable Property on the strength of Possession.

Section 6(1) deals with person dispossessed from Immovable Property without his Consent then he may claim by suit recover possession.

Section 6(2) deals with no suit shall be brought:
1. After the expiry of Six Months from the date of Possession.
2. Against the Government.
3. No appeal shall lie from any orders or decree passed in any suit instituted under this section.

Case Law: M/s. Chandra 7 Co. V. State of Rajasthan (AIR 1976 SC 1628)

Section 25 of Companies Act, 1956 ( Non Profit Company )

As per The Indian Companies Act, 1956 state the various companies in that one of is Section 25 Companies i.e. Non Profit Company.

Where it is proved to the satisfaction of the Central Government that an association-

1. as is about to be formed as a limited company for promoting commerce, art, science, religion, charity or any other useful object
 
2. as intends to apply its profits, if any, or other income in promoting its objects, and to prohibit the payment of any dividend to its members, the Central Government may, by licence, direct that the association may be registered as a company with limited liability, without the addition to its name of the word” Limited” or the words” Private Limited”.
 
Chamber of Commerce is good example of this company.

As Per Section 53 of the Transfer of Property Act, 1882 – Fraudulent Transfer

As per Transfer of Property Act, 1882 define the Fraudulent Transfer under Section 53

1. Every Transfer of Immovable Property made with intent to defeat or delay the creditors of the transferor shall be voidable at the option of any creditor so defeated or delayed. Nothing in this sub- section shall impair the rights of a transferee in good faith and for consideration. Nothing in this sub- section shall affect any law for the time being in force relating to insolvency. A suit instituted by a creditor (which term includes a decree- holder whether he has or has not applied for execution of his decree) to avoid a transfer on the ground that it has been made with intent to defeat or delay the creditors of the transferor, shall be instituted on behalf of, or for the benefit of, all the creditors.

2. Every Transfer of Immovable Property made without consideration with intent to defraud a subsequent transferee shall be voidable at the option of such transferee.

For the purposes of this sub-section, no transfer made without consideration shall be deemed to have been made with intent to defraud by reason only that a subsequent transfer for consideration was made.

Case law :- Mina kumari v/s. Bijoy Singh