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REGISTERED No. D-28

The Gazette of India

EXTRAORDINARY

PUBLISHED BY AUTHORITY

NEW DELHI, FRIDAY, DECEMBER 31, 1948

GOVERNMENT OF INDIA

MINISTRY OF LAW

New Delhi, the 31st December, 1948

ORDINANCE No. XXXVII OF 1948.

AN

ORDINANCE

to provide for the control of the Transfer of certain securities and for the issue

of duplicate securities in respect thereof.

WHEREAS an emergency has arisen which makes it necessary to provide for the control of the transfer of certain securities and for the issue or duplicate securities in respect thereof;

Now,THEREFORE,in exercise of the powers conferred by section 42 of the Government of India Act, 1935 (26 Geo. 5, c. 2), the Governor-Gen oral is pleased to make and promulgate the following Ordinance: —

1. Short title and commencement.—(1) This Ordinance may be called the Scheduled Securities (Hyderabad) Ordinance, 1948,

(2) It shall come into force at once. 2. Definitions.— In this Ordinance—

(i) "Bank" means the' Reserve Bank of India;

(ii) "scheduled security" means any Government security specified in the Schedules to this Ordinance, but does not include any duplicate secu- rity issued under the provisions of section 4;

(iii) "transfer", in relation to a scheduled security, includes the trans- fer of any interest in the scheduled Security.

3. Title to scheduled security not affected by transfers before commencement of Ordinance.—The Bank shall not, without the approval in writing of the Cen- tral Government, recognise for any purpose any transfer of a scheduled secu- rity otherwise than to the Government of Hyderabad made or purported to have been made before the commencement of this Ordinance, and notwithstanding any transfer so made or purported to have been so made and notwithstanding anything contained in any law for the time being in force, the scheduled secu- rity shall be deemed to be, and always to have been, vested in the Government of Hyderabad,

4. ISSUE OF duplicate securities.— (1) Notwithstanding anything contained in any law for the time being in force, the Bank shall issue to the Govern- nient of Hyderabad duplicate securities payable to that Government in lieu of the scheduled securities as if such securities had been lost, and such duplicate securities shall have the same effect as if they had been issued under section 11 of the Public Debt (Central Government) Act, 1944 (XVIII of 1944).

( 3055 )

(2) On the issue of duplicate securities under sub-section (I), all rights oi remedies vested in or enforceable by any person in respect of the scheduled secu rities in lieu of which such duplicate securities have been issued shall be deemed to be extinguished.

(3) Tho Bnnk shall impound all schoduled securities which are or havo beer

presented k> it and cancel the same,

5. Bar oi jurisdiction.—No suit or other legal proceeding for \ho enforcement of any rights or remedies in respect of any scheduled security shall be instituted in any Court save with the previous consent of the Central Government.

6. Protection of action taken in good laith.—No suit, prosecution or other legal proceeding shall lie against the Central Government, the Bank or anj person for anything done or intended to bo done in good faith in pursuance of the provisiong of hhh Ordinance.

THE SCHEDULE.

[$"" aer.tion 2(ii)]

SoHBDyLKD SECURITIES.

Amount Denomination, form and number of security.

Serial No.

Loan, 196fi—08—

R s. 1 8 % Funding

unto Nos. BY 0021-3 (3 X 00,00,000)

Kto^k llertifl

Do. Do. Do. Do. Do. Do. Do. Do.

No. BY 0034 Nos. BY 0087-03 (7 x 50,00,000) Nos, BY 0095-99 (5 x 60,00,000) No. BY 0158 No. BY 0137 NOH. BY 0125-0 (2 x 10,00,000) No. BY 0148 NOH. BY OIfiO-2 (3 x £5,00,000)

1,50,00,000 50,00,000 3,00,00,000 2,50,00,000 50,00,000 30,00,000 20,00,000 25,00,000 75,00,000

3 % Pii-Bt Dovolopmeiit Loan, 1070—75 -

Stork CertifldHtu Nos. BY 1084-92 (0 > fl,00,000)

D o. Do. Do. D o. D o. Do, Do. Do. Do. D o. Do. - Do. Do- Do. D o. D o. D o. D o. Do. Do. Do. D o. D o. Do D o. D o.

Nos. BY 11H5-05 (11 :•• 5,00,000) Nos. BY 0751-73 (20 x 5,00,000) Nos. BY 0802-4 (3 V 5,00,000) No?. BY 0805-900 (12 X 5,00,000) Nos. BY 1072-7 (fi x 5,00,000) Nos. BY 1214-21 (8 X 5,00,000) Nos. BY 1230-0 (4 x 5,00,000) Nos. BY 124(1-53 (8 X 5,00,000) Nn8. BY 1283-91 (0 x 5,00,000) No. BY 1330 Noi. BY 1304-7 (4 v 5,00,000) NOH. BY i:j0:i-4 (3 X 5,00,000) Ncis. BY 139G-402 (7 X 5,00,000) Nos. BY 1410-21 (3 X fi,00,000) Nofi, BY 1433-40 (8 X 5,00,000) Nos. BY 1442-5 (4 x fi,00,000) Nos. BY 1467-0 (3 X fi.00,000) NOB. BY 1477-81 (5 >, 5,00,000) Nos. BY 1503-4 (2 x 5,00,000) No. BY isofi Nos. BY 150B-B9 (52 X 5,00,000) N w. BY 1508-78 (II x 5,00,000) Noh. BY J 581-5 (fl X 5,O0,000) No. BY 1S03 No. UY 1245 No. BY 1213

45,00,000 55,00,000 1,00,00,000 15,00,000 60,00,000 30,00,000 40,00,000 20,00,000 40,00,000 45,00,000 5,00,000 20,00,000 10,00,000 35,00,000 15,00,000 40,00,000 20,00,000 15,00,000 25,00,000 10,00,000 5,00,000 2,00,00,000 55,00,000 2".,0(1,000 5,011,000 2,00,000 3,00,000

Total

20,00,00^>00

U. BAJAGOPALACHARI, Governor- General.

O1IDINANOE No. XXXVI11 OF \248

AN

OKDINANGE

further to amend the Indian Income-tax Act, 1922,

WHBRKAS an emergency has arison which makes it necessary further to amend the Indian Income-tax Act, 1922 (XI of 1922), for the purposes herein- after appearing;

Now, THKREFOKE, in exercise of the powers conferred by section 42 of the Government of India Act, 1935 (26 Gco. 6, c.2), the Governor-General is pleased to make and promulgate the following Ordinance: —•

1. Short title and commencement.—(1) This Ordinance may be called the Indian Incorno-tax (Amendment) Ordinance, 19.48.

{2) It shall eomo into force at once. 2. Amendment of section 18A, Act XI ol 1922.—In section 18A of the .Indian Income-tax Art, 11)22 (hereinafter referred to HB the said Act),—

(U)> n(O2)right ^ ^'P⁶'¹¹ H"a i l l St * ^ ' ^^ assessment

(6) Income-tax paid or deemed to have been paid under suction 18 or section 18A iu reapect of any income provisionally assessed under sub-section (1), shall be deemed to have been paid towards the provisional assessment.

(7) Alter a regular assessment has been made under section 28, any amount paid or deemed to huve been paid towards a provisional assessment madb under sub-section (1), shall be deemed to have been paid towards the regular assessment; and where the amount pa-id or deemed to have been paid towards the provisional assessment exceeds the amount payable tinder the regular assessment, the excess shall be refunded to the assesses, (#) Nothing dune or suffered by reason or in consequence of any pro.

visional assessment made under this section shall prejudice the determination on the merits, of any issue which may arise in the course of the regular assessment under section 2 3 ."

4. Form ot notice of demand. ~A notice of demand of any tax due in con- sequence- of any provisional assessment made under soction 23B of the said Act shall be in the form specified iu the Schedule, with such modifications, if any, an the Central Board of Revenue may, by notification in the official Gazette, from time to time, direct,

THE SCHEDULE

(Sen section 4.) .

To •

Status

O.I.It, No.

Take notice that foi' tlic assessment year

the sum of I!s. has been provisionally determined to be j ayable by you under section 2'dli of the Indian Income-tax Act, 1922.

2. Yon are roqnlrod to pny the above sum on or before the

to the

Treasury Officer

Hub-Treasury Officer

Ageut, Imperial Bank of India

Reserve Bank of India

, when you will be granted a receipt, A chnlnn is at enclosed for the purpose.

0. If you do not pay the sum on or before Ihe date specified above, you —

will, withuut prejudice to any other consequences ivhich you mm.' incur, be liable under section -J0(7) of the Indian Income-tax Act, l'."22, to a penalty which may be as great as the tii\ due from you.

Inoome-ta-r Offirer

Aildremi

Dated V.)

Place

(', RA,IA(X>lJALArHARI,

Governor-General-.

K. V. K. STJNDAEAM,

Necy. to the Govt. of India.

Hl-BLIKITBD HT TH" MANAOIB OF PUBLICATIONS, D " L H I, INDIA ^

*'Bf>rrrD BY THI MANAGTO O<-IVXB.NMKNT OT TNPI" P a n s, Nww P u n, I nn