Skip to content

Judgment Search Results Home > Cases Phrase: contract of indemnity contract Court: kolkata Year: 1981 Page 1 of about 36 results (0.015 seconds)

Jul 15 1981 (HC)

Indian Aluminium Co. Ltd. Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Jul-15-1981

Reported in : [1983]140ITR114(Cal)

..... invested in timber. that timber might have been sold in the ordinary course of market--as a matter of fact, instead of being actually sold it was burnt. under a contract of indemnity, properly entered into for the purpose of safeguarding the possibilities of business in relation to it, a sum has been received in respect of the timber. that is once ..... by the indian company. it may be that if the canadian company has the duty of forwarding information to india it could be reasonably inferred that their part of the contract would be fulfilled only when the indian company received the information in india. in such case again it may be possible that the post office would be acting as an ..... : [1950]18itr333(mad) and cit v. a. s. t. f. rodriguez & co. : [1951]20itr247(mad) , would not apply and no income accrues on the basis of the situs of the contract. there is also one other point to be considered before we finally decide about the accrual of income. the facts as given by the assessees show that the problems are .....

Tag this Judgment!

Sep 10 1981 (HC)

B.S. Aujla Company Pvt. Ltd. Vs. Kaluram Mahadeo Prosad and ors.

Court : Kolkata

Decided on : Sep-10-1981

Reported in : AIR1983Cal106

..... banks which in turn confirmed the guarantees to the buyers. the guarantees were backed by counter-indemnities by the plaintiffs to the bank. the plaintiffs agreed to indemnify the bank in the widest terms and gave irrevocable authority for payment under the guarantees and to debit the ..... way of refund by the seller and mot by the way of retention by the buyer. the letter of credit was independent of supreme court emphasised, and unqualified by the contract of sale or underlying transaction. the autonomy of an irrevocable letter of credit was entitled to protection. therefore, the courts refrained from interfering with that autonomy. the same principle ..... plaintiffs' account accordingly. the guarantees themselves simply provided that payment would be made on the buyers' 'first demand' without proof of any breach of contract by the plaintiffs or any other safeguard against abuse by the buyers. in the event disputes arose between the plaintiffs and the buyers and in such case the buyers demanded ..... of the buyers. the guarantees were in effect performance bonds, their purpose being to provide security to the buyers for the fulfilment by the plaintiffs of their obligations under the contracts. these were to be established with two egyptian banks. that was done by the plaintiffs instructing their own bank ('the bank') to confirm the guarantees to the respective egyptian .....

Tag this Judgment!

Sep 06 1981 (HC)

Commissioner of Income-tax, Central-i Vs. Steelcrete (P.) Ltd.

Court : Kolkata

Decided on : Sep-06-1981

Reported in : [1983]142ITR45(Cal)

..... the i.t. act, 1961, it was intended that the property in the goods would pass to the assessee at the relevant time when the contract was entered into but the right of ownership of the assessee was restricted by several conditions in order to ensure that due payment to the government was ..... out of the monthly bills. it was submitted on behalf of the revenue that the ownership was retained by the government during the pendency of the contract and the assessee did not have any incidence of ownership except the right to use even after the full payment was made. a good deal of ..... construction of wharves and berths, additional berths scheme, vizagapatuam port. by that letter the said superintending engineer conveyed that it was intended to award the contract on the aforesaid matter on the terms and conditions mentioned in the said letter. it was mentioned that the assessee intended to import certain items of ..... which the assessee was required to accept within seven days of the receipt of the said letter in order to enable it to receive the said contract. as the assessee wanted to import the aforesaid items from east european countries and the government of india had insisted upon import of the same from ..... made and the contract was fully implemented so far as his all conditions are fulfilled and the conditions must be read in that context. if it is read in that .....

Tag this Judgment!

Feb 19 1981 (HC)

Union of India (Uoi) and anr. Vs. Chinoy Chablani and Co.

Court : Kolkata

Decided on : Feb-19-1981

Reported in : AIR1982Cal365

..... of such cases. the section further provides that if the parties to the contract would so intend they can agree to make the agent personally liable even without recourse to the principal. likewise, under such circumstances the parties ..... enumerated under the said section. the third party's rights are protected by reason of the difficulties that might be created in respect of contracts which are envisaged thereunder. the third party's rights will not suffer any loss or prejudice if the agent is personally made liable in respect ..... creates no difficulty. the language creates no ambiguity. it specifically provides therein that the liability of the agent would only arise under that clause where the contract has been made by the agent. with regard to clauses (2) and (3), however, it is not mentioned so specifically and, the same ..... in the calcutta port for discharging the said consignment from the said vessel as the steamer agents.6. the defendant-respondent herein contends that the contract of carriage was entered into by and between the appellants and the black sea steamship co. which issued the bill of lading. the defendant-respondent ..... issued by the said black sea steamship company which agreed to carry the same in accordance with the terms and conditions mentioned in the said contract of carriage.3. the said vessel had discharged at visakhapatnam 51933 bags of urea of which certain quantities were cut and torn and certain .....

Tag this Judgment!

Mar 05 1981 (HC)

Sanchaita Investments and ors. Vs. State of West Bengal and ors.

Court : Kolkata

Decided on : Mar-05-1981

Reported in : AIR1981Cal157

..... competency. so viewed, it is easy to accept the submission of the union of india that parliament wanted to restrict and prohibit certain types of contract because of the noxious element of gambling and lottery implicit therein and apt to entice the credulous and uncautious. we do not think it necessary to expand on the subject ..... sustained under entry 7 of list iii. we are not persuaded that in pith and substance the present legislation is one against lotteries. it deals with a special species of contracts with sinister features, although one such feature is the award of prizes to subscribers. while motives cannot validate or invalidate a legislation the core of the subject-matter must govern ..... issue is known. if either of the parties may win but cannot lose, or may lose but cannot win, it is not a wagering contract.'57. these observations again underscore the element of chance in wagering contracts according to mr. sen.58. the next question that was canvassed before me was whether the business undertaken by the petitioner firm came within the ..... by action. it think it is not. it is not easy to define with precision what amounts to a wagering contract, nor the narrow line of demarcation which separates a wagering from an ordinary contract; but, according to my view, a wagering contract is one by which two persons, professing to hold opposite views touching the issue of a future uncertain event, mutually .....

Tag this Judgment!

Aug 03 1981 (HC)

Nanalal Madhavji Varma Vs. State of Andhra Pradesh

Court : Kolkata

Decided on : Aug-03-1981

Reported in : AIR1982Cal167

..... under the circumstances the provisions of article 299(1) of the constitution of india had not been complied with which provides that:--'299. contracts -- (1) all contracts made in the exercise of the executive power of the union or of a state shall be expressed to be made by the ..... provision intended for the protection of the general public.the provisions of section 70 can be invoked by the aggrieved party to a void contract. the first condition to be satisfied under the section is that a person should lawfully do something for another person or deliver something ..... case.these provisions have not been enacted for the sake of mere form but they have been enacted for safeguarding the government against unauthorised contracts. they are based on the ground of public policy, on the ground of protection of general public, and these formalities cannot be waived ..... of the persons such as chief engineer, chief operation engineer, chief construction engineer, superintending engineer have been given with the powers of entering into contracts. the chief engineer has been given unlimited power, chief operation engineer has been given powers up to three lakhs. chief construction engineers up to ..... was directed that the matter should be referred to the government for orders. from the appendix item no. 27 it would appear that all contracts, deeds and other instruments connected with the administration and working of electricity department must be done by the chief engineer, electricity, chief electrical .....

Tag this Judgment!

Aug 31 1981 (HC)

Barun K. Sinha and anr. Vs. District Magistrate, Murshidabad and ors.

Court : Kolkata

Decided on : Aug-31-1981

Reported in : AIR1982Cal19

..... the superintendent accepted the tender of the petitioner who offered the lowest rate and communicated his decision to the department of public health. subsequently, the contract of the petitioner was cancelled and the tender of respondent no. 3 was accepted after giving requisite notice in terms of clause 20 of the ..... west bengal reserves the right to reject any tender without assigning any reason thereof and acceptance of lowest rates will not be obligatory to the contracting officer, 'the chairman of the district diet committee or for that the district diet committee has got the absolute power to pick and choose ..... considered. in other words, there cannot be any discrimination at the threshold or at the time of entry in the field of consideration of persons with whom contracts will be made by the government. the decision in : [1975]2scr674 , erusian equipment and chemicals ltd. v. state of west bengal and : [1977 ..... the tender notice inviting tenders within the time specified is entitled to have his tender considered as it is a case of distribution of public contracts. true that the petitioner has got no legal right to claim that the tender submitted by him must be accepted by the tender committee, ..... west bengal reserves the right to reject any tender without assigning any reason thereof and acceptance of lowest rates will not be obligatory to the contracting officer. this tender notice has been annexed as annexure 'b' to the petition. a schedule of rates of dietary articles for the year .....

Tag this Judgment!

Apr 10 1981 (HC)

Konsumex Vs. Anand and Co. and ors.

Court : Kolkata

Decided on : Apr-10-1981

Reported in : AIR1981Cal298

..... laid down as follows :-- 'in india the general principle with regard to waiver of contractual obligation is to be found in section 63 of the indian contract act. under that section it is open to a promisee to dispense with or remit, wholly or in part, the performance of the promise made to ..... a claim which might have been substantiated, or release a debt which might have been recovered by ordinary legal process; or he may, by his express contract or stipulation, exclude some more extensive right, which the law would otherwise have conferred upon him. in all these cases, the rule holds, omnes licentiam ..... his private capacity, which may be dispensed with without infringing any public right or public policy. where in an act there is no express prohibition against contracting out of it, it is necessary to consider whether the act is one which is intended to deal with private rights only, or whether it ..... by sea act 1925 conferred an advantage to the benefit and protection of the carriers. this was a private benefit or advantage and the parties could contract out of it. 19. he contended that in the instant case the plaintiff has pleaded a waiver and/or renouncement of a legal advantage by ..... defendant no. 1 and the general superintendence co. of india (p.) ltd., the defendant no. 2, who was required under the tenor of the contract of supply to inspect the said garments and issue inspection certificates vouching for the quality of the shipments and that the same to be in accordance with the .....

Tag this Judgment!

Nov 10 1981 (HC)

Punjab National Bank Vs. Mehra Brothers (P) Ltd. (In Liqn.) and ors.

Court : Kolkata

Decided on : Nov-10-1981

Reported in : AIR1983Cal335,[1983]54CompCas541(Cal)

..... of claim before the liquidator did not amount to foregoing their claim against the guarantors and also that did not amount to any variation of the contract that was entered into by and between the parties.11. in the circumstances, i am of the view that the plaintiff bank was entitled to ..... is immediate. it is not deferred until the creditor exhausts his remedies against the principal debtor.9. in view of section 137 of the contract act and also in view of various judgments on this point, the surety's liability towards the creditor remains uneffected, even when the creditor has chosen ..... remedies against the principal debtor. in the case reported in : [1969]1scr620 it has been held that under section 128, save as provided in the contract, the liability of the surety is co-extensive with that of the principal debtor. the surety thus becomes liable to pay the entire amount. his liability ..... debtor's liability was diminished in appeal, surety's liability was also diminished in like proportion. mr. d' rose referred to section 133 of the contract act and submitted that there had been a variance, made in the agreement as to the liability of the principal debtor without the surety's consent. ..... for relief of agricultural indebt-ness act, 1957 for scaling down his decretal liabilities, it was held that by virtue of section 126 of the contract act, surety was entitled to the benefit of the outcome of the application under section 6 of the act of 1957, and where the principal .....

Tag this Judgment!

Mar 17 1981 (HC)

Commissioner of Income-tax Vs. Bengal Mills and Steamers Presbyterian ...

Court : Kolkata

Decided on : Mar-17-1981

Reported in : [1983]140ITR586(Cal)

..... the future' in section 5 of the transfer of property act, qualify the word 'convey ' and not the word 'property'. but a transfer of propertynot in existence operates as a contract to be performed in future which is specifically enforceable as soon as the property comes into existence.' 17. it, thus, appears that a division bench of this court was pleased ..... to hold that a transfer of property not in existence operates as a contract to be performed in future which is specifically enforceable as soon as the property comes into existence. the decision of the division bench of this court referred to above was ..... ]107itr776(sc) . it is also held in benarasi-lal rajgharia v. central bank of india [1972] 76 cwn 807 , that a trust may and often does arise out of a contract. if the parties, by an agreement, intend to create a trust in respect of a property and the property is subsequently transferred to the proposed trustee by a conveyance, the .....

Tag this Judgment!

Save Judgments// Add Notes // Store Search Result sets // Organizer Client Files //