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honnurvali   27 December 2011 at 13:00

Point of taxation

As per New Point of Taxation Rules whether cenvat credit can be taken on opening creditors on payment basis? And if the payment is made after 3 months from 31-3-11 whether we have to pay interest on credit availed for a period exceeding 3 months?

Anonymous   25 December 2011 at 15:04

Jewellary wastage charges

Dear Experts,

if we buy the gold jewel in gold mart, the seller make the bill include with wastage charges, if they add wastage, why not give that wastage piece, if the wastage add every buyers he will become rich man, so in this related can i claim at consumer forum. pls guide me.

Anonymous   12 December 2011 at 11:31

Karnataka land reforms act

If the Deputy Commissioner grants an exemption to agricultural lands under section 109 of the Karnataka Land Reforms Act, can the same Deputy Commissioner refuse to grant conversion under section 95 of the Karnataka Land Revenue Act? Please also help me with some case law on this point if possible.
Thanks in advance.

Anonymous   12 December 2011 at 10:09

Property

I purchased a property from “X” 1999. The entire consideration was paid to “X” . The “X” executed the ATS , GPA etc in my favour but they could not be registered . The possession was also not handed over . After the death of “X” one “Y” claiming to be the only legal heir of “X” asserted his rights on the property. As per agreement I filed Arbitration case. After some time “Y” compromised the matter after taking some more money from me . I took the receipt of the same and the settlement documents and receipt were submitted to the arbitrator to publish the award on the basis of settlement. As per the settlement the “Y” was to execute proper transfer documents in my favour and in the event of failure to d to do so was to pay me the agreed damages mentioned in the settlement . The arbitrator published the award directing “Y” to execute transfer papers and in the alternatively in the event of failing to do so to pay the agreed damages as per the settlement to me . Five months after the publication of award the “Y’ is neither executing transfer documents in my favour nor paying me the damages . Now it has been revealed that apart from “Y” one “Z” is also the legal heir of the deceased “X” and this fact was concealed by “Y” . . The “Z” has given the NOC and consent in my favour . He has also given me the letter that he is aware of the award published in my favour and is ready to honour that award also .
Sir(s), Now my query is
1. How can I get back my property .
2. What are the legal remedies available to me .
3. Is the award in my favour valid and how can it be executed .
4. Is the award binding on “Z” even when he was not the party to arbitration but he has given his consent to honour the award .
5. What actions can I take against “Y” for the execution of the Award .
THANKS IN ADVANCE





R_PVK   12 December 2011 at 09:38

Taxation

Dear sir
my mother acquired a Shares of ITC of her brother thru scuession after his demise the querry related to the subject are as mentioned below
(1) my uncle had purchased the shares 1160 nos with face value 1 on april 1984.
(2) he had got twice bonus share once 2320 & agaqin on last year 3480 thus total share held before sucession was 6960 nos
(3) this total share of 6960 was sold by mother after sucession since he died . the value of that had been around 14 lakhs.

pl give the expert advice as how to calculate the capital gain and its tax which is liable as per slab since i am in confusion whether to take market value at the time of my uncles purchase or the market value when my mother got sucession pl give examples with calculation
Regards
R_PVK

A G SATHYANARAYANA   09 December 2011 at 19:01

Aqusition by govt.

Respected Sirs:
I had raised this issue earlier; but somehow the query got closed. I take this opportunity to re-open this query. Please help us.

We are a group of about 200 families from Bangalore. During the year 2000, responding to an ad by a builder/developer we purchased plots/flats by taking loans from various banks. The property docs were verified by the bank panel advocates. We also have EC/RTC in the name of the seller and does not reflect any txn during 1980 to 2000.

Now in April 2011 we received a notice of eviction on the ground that the property in question was aquired by the Govt. in favour of a housing society in the year 1989. It appears the owners had questioned the aqusition but the High court upheld the Govt. action. We also understand that the Supreme court has upheld the High court decision as early as 1996. Obviously we have been cheated by the Owners through the builder.

The area in question is 29 acres and more than 80% of the lad has been sold/occupied by houses, apartments, educational institutes, hospital/nursing homes. etc. The entire area has been provided with all civic amenities like asphalted roads, sanitary/water connections, street lights etc. The BBMP has also collected betterment charges, and property tax upto March 2011.

The housing society has filed a contempt case against the Govt.and hence the eviction notice.

Now we have filed a petition with KAT(Karnataka Appellete Tribunal)and got a stay upto Feb 2012.

My question is:
-How the govt allowed registration of property in our names?
-How the EC/RTC did not reflect the fact of the aqusition ?
-How the Govt. collected betterment charges and provided civic amenities?
-How did they collected tax from us?
-How the society kept silent and allow developments to take place in spite of the land purportedly belonging to them ?

Now more than 1000 families are involved in the entire area; and various other commercial activities have developed.

Do we have any legal recourse ? What action do you recommend us to save our hard-earned property and loans outstanding at various banks ?

RAJESH CHOUDHARY   09 December 2011 at 18:57

Reply experts

plz help me out urgently need specimen of minutes regarding appointment & retirement of directors in private limited company

Saibal Guha Roy   09 December 2011 at 18:42

Property law

My client inherited a piece of land with building constructed thereon alongwith his two brothers. The share in the building was specifically demarcated. One brother gifted his share in the building to my client & the other one sold his share. Now my client wants to demolish the old building and construct a new one. The gift deed to my client mentioned the portion of the building gifted but the deed erronously omitted gifting of proportionate share of land oON WHICH THE BUILDING STANDS, i.e. land beneath the building. There are judgements which says that such omission does not confer any residuary rights in favour of the seller/donor in respect of land underneath the building. However, I am unable to find such judgements. Matter is urgent. Please give me some judgements/citations

Member (Account Deleted)   09 December 2011 at 10:33

Csd , urcs , private ventures

URCs are Private Ventures.CSD is a solely owned govt enterprise but govt of India though bleeds to provide this extraordinary facilities to the private ventures a meagre 50 % only passed onto CFI. Look at the post below:-

:Turnover of Defence Canteens

Turnover, Profit and Profit distributed to beneficiaries after depositing 50% in Consolidated Fund of India (CFI) of Canteen Stores Department (CSD) during the last three years, year-wise, is as under:-

(Rupees in Crore)

Profit distributed to beneficiaries

2007-08 84.44

2008-09 6955.11, 203.69 101.84

2009-10 8689.80, 226.53,113.26

2010-11 9534.29

Annual accounts for this period are under finalization.

"As per laid down policy, 50% of the total profits earned by CSD is being deposited into Consolidated Fund of India (CFI). The remaining 50% is distributed to various beneficiaries as determined by the Competent Authority. As per policy in vogue, after deduction of regular and adhoc allocations of 4.91 % of this amount, the balance is allocated to Army, Air Force and Navy in the ratio of 85:10:5.

This information was given by Defence Minister Shri AK Antony in written reply to Shri Ram Krjpal Yadav and Shri Shadi Lal Batra in Rajya Sabha today."
Would somebody except those who thinks they are for the poor and needy people only please help me to get a copy of the " As per laid down policy 50 % of the total profits-----" as quoted by the Def Min of India. I have tried through RTI route but denied invoking JAG Army letter which has inferred that URCs are private ventures , not instrumentality of States and hence not covered by RTI Act 2005. That huge sums of money ( ours and yours money) for the past fifty years is going into pockets of some private individuals who are not accountable to either OVERSIGHT COMMITTEE/CAG , Defence Audit . It is a serious matter. And I need help.

Anonymous   09 December 2011 at 10:22

House law

Respected Sir,
My family resides in a 2 storey house.Both floors are internally connected through stairs.Above floor is in the name of my father and below is in the name of my mother.Recently we filed a domestic violence case against my father(who does not live with us).Now we fear that he will sell the above floor to someone else who might force us out of the home.
We are in a dilemma.Please give us a way to secure our house.