section 25 company judiciary-2

Section 13(3) : ITAT upheld exemption to trust who received grant from ABN AMRO Foundation & RBS Bank India

ADIT (E)-II(1) Vs. M/s. RBS Foundation India (ITAT Mumbai)

ADIT Vs. M/s. RBS Foundation India (ITAT Mumbai) Assessee is a limited share registered company under section 25 of the Act and is a separate and independent legal entity wherein RBS Bank India or ABN AMRO Foundation, Netherlands are neither the shareholders nor the promoters of the assessee. The assessee company has been formed with [&he...

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Trust not entitled to exemption if carrying only incidental objects which are not charitable

M. Visvesvaraya Industrial Research & Development Centre Vs Commissioner of Income-tax (Bombay High Court)

An assessee that engages itself only or predominantly in activities relating to its ancillary or incidental objects which do not relate to any charitable purpose and does not carry on any activity relating to its main object which pertains to a charitable purpose is not entitled to an exemption under Section 11. A view to the contrary wou...

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S.25 Company – Amendment in MOA without Government permission is illegal

Vinod tihara & ors Vs Delhi & District Criket Association (Delhi High Court)

The order of Sh. K.S.Mohi basically implements the resolution of DDCA dated 1.3.2007 and on which aspect I have already commented above that there is absolutely no resolution whatsoever dated 1.3.2007 and if even there is such a resolution, the same will be an illegal resolution because the same amounts to an amendment of the Memorandum o...

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Whether Section 25 company entitled to have two kinds of memberships

Apparel Export Promotion Council Vs All India Garment Exporters Common Cause Guild & Ors. (Delhi High Court)

The crux of the controversy is whether the appellant which is a Company incorporated under Section 25 of the Companies Act, 1956 is entitled to have two kinds of memberships as aforesaid. The only difference in the rights of the two kinds of members is that while the Member Exporters have a right to elect and to be elected as office beare...

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