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Citation: 1971 PTD 674
Court: Madras High Court
Year: 1968
Decision Date: 1968-02-08
Parties: COMMISSIONER OF INCOME-TAX, MADRAS vs ASHOK LEYLAND LTD.
Case cited as 1971 PTD 674
Court Name: Madras High Court Judge(s): K. Veeraswa mi, Ramaprasada Rao Title: COMMISSIONER OF INCOME-TAX, MADRAS vs ASHOK LEYLAND LTD. Case No.: Case No. 93 of 1964 Date of Judgment:1968-02-08 Reported As: 1971 PTD 674 Result: company is wound up JUDGMENT JUDGMENT RAMAPRASADA RAO, J.------The Ashok Leyland Limited, Madras, the respondent herein, is a public limited company which was originally incorporated on September 7, 1948, under the name and style of "Ashok Motors Limited" under the Indian Companies Act, 1913. Apparently the change in name of the company was effectuated due to change in circumstances, which we shall presently animadvert to. Its business previously consisted in importing motor accessories marketed by "Austins" of the United Kingdom, assembling Austin cars and trucks and selling them as such. Under the articles of the company, it was authorised to carry on business as manufacturers, assemblers of, dealers in, heirs, repairs, cleaners, stores, ware housers of motor--cars, motor-cycles, cycle- cars, motors, scooters, motor-buses and lorries, trucks, tractors, cycles, bicyles and carriages, launches, boats and ships, aeroplanes, hydroplanes and other vehicles and convey--ance of all descriptions for carrying passengers or other personal goods, commodities, produce, cargoes and other things on land or sea or by air (all hereinafter comprised in the term motor and other things) whether propelled or assisted by means of petrol, spirit, steam, gas,…
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