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Judgment Search Results Home > Cases Phrase: contract of indemnity contract Year: 1967 Page 10 of about 364 results (0.041 seconds)

Apr 29 1967 (HC)

The General Electric Company of India (P.) Ltd. Vs. Government of Madr ...

Court : Chennai

Decided on : Apr-29-1967

Reported in : (1968)1MLJ429

..... assessing officer, in which inter alia the petitioners disputed their liability on a turnover of its. 7,00,958-20 alleging that they constituted receipts on account of alleged works contracts. five contracts were in all involved. being unsuccessful before the appellate authority, the petitioners filed an appeal before the sales tax appellate tribunal, madras, regarding the receipts relating to the works ..... the sale and purchase of the component parts used in the work of fabrication and erection or construction. if, under the contract, structural materials are to be affixed to the land and only thereafter the property therein would pass to the customer notwithstanding that they were approved by him, and even ..... fine one, and it is neither feasible nor practicable to formulate in the abstract, an all comprehensive and universal rule applicable to all cases...11. in cases where the contract consists of the fabrication and erecttion of steel structures or buildings on the site of the customer, the main test is to find out whether the customer ever bargained for ..... should construct the works according to the specifications contained in the agreement, and in consideration therefor receive payment as provided therein, and in such an agreement there is neither a contract to sell the materials used in the ccn-struction, nor does property pass therein as movables.one other principle has also been recently settled by the supreme court in state .....

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Sep 01 1967 (HC)

Murlidhar Jhunjhunwalla Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Sep-01-1967

Reported in : [1969]73ITR727(Cal)

..... the court had not specifically referred to or dealt with the contention as raised belore us, namely, that in order to attract the operation of explanation 2 the contracts must bo periodically or ultimately settled otherwise than by the actual delivery of the commodity.19. shorn of all trimmings the assessee's transactions with subhkaran jhunjhuuwalla amounts to ..... orders on payment of full price.'16. the court finally concluded with the following observations :'in other words, the basic ingredients of speculative transactions are, first, that the contracts are to be periodically or ultimately settled, and, secondly, the settlement would be otherwise than by actual delivery or transfer of the commodity. in the present case there is ..... chand rataria's case : [1955]1scr1071 , repelled the contention in the following words:'the explanation to section 24(1), however, does not prevent persons from entering into contracts in which the buyers and sellers may not actually hand over the goods physically. the explanation is only designed at segregating for income-tax purposes loss sustained in transactions of ..... source other than business consisting of speculative transactions. explanation 2 to the above sub-section is as follows ;'explanation 2.--a speculative transaction means a transaction in which a contract, for purchase and sale of any commodity including stocks and shares is periodically or ultimately settled otherwise than by the actual delivery or transfer of the commodity or scrips. .....

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Sep 01 1967 (HC)

Murlidhar Jhunjhunwalla Vs. Commissioner of Income-tax, West Bengal Ii

Court : Kolkata

Decided on : Sep-01-1967

Reported in : AIR1968Cal253

..... supra) the court had not specifically referred to or dealt with the contention as raised before us namely, that in order to attract the operation of explanation 2 the contracts must be periodically or ultimately settled otherwise than by the actual deli-very of the commodity16. shorn of all trimmings the assessee's transactions with subhkaran jhunjhunwalla amounts to ..... the delivery orders on payment of full price.'the court finally concluded with the following observations:--'in other words, the basic ingredients of speculative transactions are first, that the contracts are to be periodically or ultimately settled and secondly, the settlement would be otherwise than by actual delivery or transfer of the commodity. in the present case there ..... chand rataria's case, : [1955]1scr1071 , repelled the contention in the following words:'the explanation to section 24 (1), however, does not prevent persons from entering into contracts in which the buyers and sellers may not actually hand over the goods physically the explanation is only designed at segregating for income-tax purposes loss sustained in transactions of ..... other than business consisting of speculative transactions. explanation 2 to the above sub-section is as follows:'explanation 2,-- a speculative transaction means a transaction in which a contract for purchase and sale of any commodity including stocks and shares is periodically or ultimately settled otherwise than by the actual delivery or transfer of the commodity or scrips .....

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Jan 02 1967 (HC)

Jeewanram Gangaram Vs. Commissioner of Income-tax, West Bengal.

Court : Kolkata

Decided on : Jan-02-1967

Reported in : [1967]64ITR483(Cal)

..... a full partner but only entitled to the benefits of partnership in our opinion there is no bar in law to the guardian centering into such a contract, for he is only securing the conferment of benefits of partnership on a minor.'mr. s. roy, learned counsel for the assessee, submitted that unlike ..... a different view and high court expressed the following opinion :'that an instrument of partnership entered into between persons, some of whom are by law incompetent to contract, as might happen, if one of them is a minor is not necessarily null and void, and in a case like the present one, where the ..... in it. if the income-tax authorities register the partnership as between the adults only contrary to the terms of the document, in substance a new contract is made out. it is not open to the income-tax authorities to register a document which is different from the one actually executed and asked to ..... to full partnership, although in law this could not be done. the supreme court, therefore, refused to make a new and a valid contract for the purpose, in place of the contract invalid in law. in the case of shah mohandas sadhuram, he submitted, it was expressly stated in the deed that 'minors are ..... not make a minor full partner a partnership deed cannot be regarded as invalid on the ground that a guardian has supported to contract on behalf of a minor if the contract is for the purposes mentioned above.'in the light of the above principles, his lordship examined the several clauses in the deed and .....

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Jun 29 1967 (HC)

Commissioner of Income-tax, West Bengal Vs. Pioneer Trading Company Pr ...

Court : Kolkata

Decided on : Jun-29-1967

Reported in : [1968]70ITR347(Cal)

..... of the amount of profits and gains, if any, in any other business consisting of speculative transactions :....explanation 2. - a speculative transaction means a transaction in which a contract for purchase and sale of any commodity including stocks and shares is periodically or ultimately settled otherwise than by actual delivery or transfer of the commodity or scrips :....'now a ..... set off against the other business income under section 24(1). his lordship observed :'the explanation to section 24(1), however, does not prevent persons from entering into contracts in which the buyers and sellers may not actually hand over the goods physically. the explanations is only designed at segregating for income-tax purposes loss sustained in transactions of ..... was contended before the tribunal that explanation 2 to section 24(1) of the income-tax act, 1922, defined what a speculative transaction meant under the act and the contract having been settled otherwise than by actual delivery of the commodity, it could only be a speculative transaction and accordingly the receipt, a speculative receipt. we are not concerned ..... and executed. there was a dispute and the claim settled not in the way speculative transactions are settled but apparently in the way disputes arising on non-fulfillment of contracts are settled, i.e., by paying damages.'the assessee appealed before the appellate assistant commissioner. the appellate assistant commissioner agreed with the income-tax officer and dismissed the appeal .....

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Nov 06 1967 (HC)

Commissioner of Income-tax, Bombay City Ii, Bombay Vs. New India Assur ...

Court : Mumbai

Decided on : Nov-06-1967

Reported in : [1969]71ITR761(Bom)

..... liability upon the company to provide for the welfare and interest of its permanent and retired employees much less of their families and dependents beyond the actual emoluments which by contract has been fixed. no doubt, it would be a proper and perhaps a logical thing to do it, but one cannot say that the company was under a liability to .....

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Apr 12 1967 (HC)

Chhotabhai Jethabhai Patel Vs. Industrial Court, Nagpur

Court : Mumbai

Decided on : Apr-12-1967

Reported in : 1967MhLJ40

..... . 2(10) of the central provinces act is as follows : '(10) 'employee' means any person employed by an employer to do any skilled or unskilled manual or clerical work for contract or hire or reward in any industry and includes an employee dismissed, discharged, or removed on account of any industrial dispute.' 28. the case arose out of an application by ..... or unskilled work for hire or reward in any industry, and includes - (a) a person employed by a contractor to do any work for him in the execution of a contract and an employer within the meaning of sub cl, (e) of clause (14) : (b) a person who has been dismissed, discharged or retrenched or whose services have been terminated from .....

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Dec 07 1967 (HC)

Chinnappareddigari Pedda Muthylareddy Vs. Chinnappareddigari Venkatare ...

Court : Andhra Pradesh

Decided on : Dec-07-1967

Reported in : AIR1969AP242

..... view. as section 91 of the evidence act excludes oral evidence only in proof of the terms and not of its existence as a fact of a contract, grant or other disposition of property, no reference was made to that section in the judgment nor to the full bench decision which related to its ..... creation of a mortgage of this nature. the deposit of title deeds forms an inextricable part of the transaction, whether it is done under an oral contract or by a deed. that is not so in so far as partition of a joint family property is concerned, where a severance in status could ..... of mortgage. at page 1593, it was observed.:'but if the parties choose to reduce the contract to writing, this implication of law is excluded by their express bargain, and the document will be the sole evidence of its terms. in such a case ..... pointed out that the essential requisite for creating a mortgage by deposit of title deeds was an intention to create a security and that it is a contract between the parties to create to mortgage and hence no registered instrument is required under sec. 59 of the transfer of property act as in other classes ..... that an unregistered document affecting immovable property and required to be registered, may be received as evidence of a contract in a suit for specific performance or as evidence of part performance of a contract for the purposes of section 53-a of the transfer of property act or as evidence of any collateral transaction .....

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Nov 30 1967 (HC)

Agarwal and Co. Vs. Commissioner of Income-tax

Court : Allahabad

Decided on : Nov-30-1967

Reported in : [1968]68ITR673(All)

..... sadhukhan v. commissioner of excess profits tax : [1953]24itr488(sc) . the coparcener is undoubtedly accountable to the family for the income received, but the parnership is exclusively one between the contracting members, including the individual coparcener and the strangers to the family. on the death of the coparcener the surviving members of the family cannot claim to continue as partners with ..... taken above, the following observations made by the supreme court, in commissioner of income-tax v. bagyalakskmi & co., : [1965]55itr660(sc) are fully applicable to the case before us :' a contract of partnership has no concern with the obligation of the partners to others in respect of their shares of profit in the partnership. it only regulates the rights and liabilities ..... difficult to conceive of a representative making a group of individuals, such as a joint family, a partner at all as defined by section 4 of the partnership act. the contract of partnership, moreover, cannot be entered into between groups of persons as entities with changing membership such as hindu joint families are. the only manner in which such groups ..... form a legal or a valid partnership'. this provision came on the statute bookin 1936, buteven before that the position was clear that a partnership is a creature of contract and for its formation sentient beings or juristic persons or legal entities were required and a mere association of individuals like a hindu undivided family could not form a partnership .....

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Jul 18 1967 (HC)

Commissioner of Sales Tax Vs. Nathani Brothers

Court : Madhya Pradesh

Decided on : Jul-18-1967

Reported in : AIR1968MP135; 1968MPLJ107; [1968]21STC465(MP)

..... leave no doubt that the transport of manganese ore from the state of madhya pradesh to gondia and vishakhapatnam outside the state was under the contracts of sale concluded between the assessee and the buyers these sales were, therefore, clearly in the course of inter-state trade.'this observation clearly ..... sales were inter-state sales and that in this case also no other conclusion can be reached. in that case, this court, after considering the contracts in question, came to the following conclusion:'these stipulations about the despatch of ore to gondia in two cases, and to vishakhapatnam port in the ..... them at the railway stations under sections 33 and 39(1). the argument is prima facie sound unless there be some other provision in the contract to negative this conclusion, e. g. that the logs must be carried to ambernath and delivered there.'the above-quoted passage illustrates the principle ..... ascertained at the weigh-bridge at gondia, the movenment of the goods from katangi to gondia was occasioned by the terms of the respective contracts and hence the transactions were in the course of inter-state trade and commerce,4. the reasoning of the tribunal is that after the ..... the balance shall be paid by the buyers to the sellers after loading the entire stack andon receipt of first net weight from gondiaweighbridge. * * * ii. contract with balkrishna trading co., nagpur. delivery: ready stack at katangi rly. siding in two lots. payments :-- 80 per cent on analysis report and balance on .....

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