Court : Income Tax Appellate Tribunal ITAT Pune
Decided on : Nov-30-2005
Reported in : (2007)106TTJ(Pune.)741
..... did not in any way refer to any specific patent owned by the supplier which the buyer was permitted to accept. all that the contract provided was an indemnity to the buyer to protect the buyer against any action by a third party claim, patent, trademark or other rights in the equipments ..... cost of the plant and machinery. the admitted fact, as noted by the tribunal bench, was that there was a separate provision in the contract for making payment by the indian company to the assessee towards such cost of plant and machinery. since the agreement between the parties in that ..... , a decision of tribunal, delhi bench, in the case of munjal showa ltd. v. ito (supra) was cited. in that appeal, as per contract agreement, the assessee company had received the licence to use the industrial property right for manufacture of shock absorbers and also technical documents and know-how relating ..... . the title of the agreement was "agreement for license, process designing and technical assistance for a polyvinyl chloride complex." on the basis of the said contract, the assessee was required to pay to the non-resident an amount termed as "price" as per article vt of the impugned agreement. the assessee ..... supplied. the hon'ble court has given a finding that there was no transfer or licence of any patent, invention, model or design. the design referred to in the contract .....Tag this Judgment!
Court : DRAT Madras
Decided on : Sep-29-2005
Reported in : I(2006)BC72
..... position, he would exploit the hapless position of a person seeking credit and would compel the persons seeking credit and the persons furnishing guarantee and indemnity to agree to its dictates and terms, which in the very nature of things will be unjust and unconscionable. this kind of danger is intended ..... guarantors are liable, there is no dispute about the same this clause in the agreement has got the legal sanction under section 129 of the indian contract act, 1872, which states, "a guarantee which extends to a series of transaction, is called a continuing guarantee." but the section does not say ..... acknowledgement made by the borrower would renew the liability of the guarantors, is outside the scope or the limitation act, 1963, as well as indian contract act, 1872.12. as far as the other contention raised by the appellant that the agreement of guarantee executed by defendants 3 and 4 is ..... was introduced only to meet their administrative convenience, which cannot be a law. such a clause in the agreement has no legal sanctity also.the indian contract act, 1872, does not approve any such acknowledgement nor the limitation act, 1963, admits such a position.for each and every borrowing or debts or ..... executed by 3rd and 4th defendants, they have consented to the bank for making any variance as the bank think fit in terms of the contract with the borrower including enlarging or varying the credit limits. under clause-9 of the agreement, they have further agreed that, "the guarantors also .....Tag this Judgment!
Court : Karnataka
Decided on : Jan-13-2005
Reported in : 2005(2)KarLJ171
..... which the insurance company can be held liable. according to him, the extent of loss having not been established by the plaintiff, the measure of indemnity was not forthcoming and as per section 71 of the marine insurance act, the company could not have been made liable for the entire consignment.(vii) ..... the interest awarded was excessive, having regard to the fact that the defendant refused to return the goods and abide by the terms of the contract and also having regard to the period during which the transaction took place and the prevailing bank rate of interest at that time, we are ..... evidence both oral and documentary that the 2nd defendant-carrier had defaulted in delivering the goods consigned and hence it has entailed the liability under the contract. the learned counsel for the respondent-plaintiff has contended placing reliance on the rulings of the division bench of this court in the case of ..... has not acted in good faith. nor is it the case of the defendant that on account of lack of good faith it has avoided the contract. the improvement in the stand of the defendant-appellant herein on this aspect of the matter has no basis or foundation in the facts of the ..... the carrier which has resulted in the unreasonable delay, the insurance company could not have been saddled with the responsibility.(viii) that the contract of insurance being a contract uberrima fides based on utmost good faith when the consignor himself has not acted in a prudent manner so as to further the trust, .....Tag this Judgment!
Court : Allahabad
Decided on : Mar-24-2005
Reported in : AIR2005All246; 2005(2)AWC2017; III(2005)BC398; 2005(3)ESC1847
..... obligation or liability of the debtor may at the highest amount to indemnity, however, it is not enough to charge the property/fund with the debt. further, according to mulla and pollock: contract act (12th edn., p. 106), contracting parties may confer rights or benefits upon a third party in the ..... the new specific relief act. the conveyance in favour of the subsequent purchaser pending the suit brought by the plaintiff contractor for specific performance of the contract between him and the vendor is taken 'as if it had never any existence.'62. applying the aforesaid principles it is evident that the respondent ..... transferee is also impleaded in the array of the defendants, the judgment is final and binding not only on the parties to the original contract but also the transferee pendente lite from vendor. the conveyance in favour of the subsequent purchaser is treated as if it never had any existence ..... conveyance is treated as if it had never any existence, the subsequent transferee, even though he had obtained the transfer without notice of the original contract, cannot set up against plaintiff-contractor any right; for it would defeat the rule of lis pendens which is founded upon public policy. and ..... shri jagdish mills ltd. v. the commissioner of income-tax, 1960 (1) scr 236, it was held as under:'.......the stipulation in the contract between the appellant and the government was that the payment would be made by cheques. the government of india was located in delhi and the cheques .....Tag this Judgment!
Court : Allahabad
Decided on : May-03-2005
Reported in : IV(2006)ACC642
..... neither taken this plea before the commissioner nor has mentioned in its written statement that there was any such contract between the employer and the insurance company, which prohibited the employer from seeking indemnity on the quantum of interest on the compensation awarded nor such a plea was taken and it is only in ..... cannot say that it would make the payment to a particular extent or to a restricted extent. for denying such a liability, there has to be a contract between the two, refusing to bear any such liability.18. in the case of p.j. narayan (supra) the apex court has observed that an ..... v. union of india and ors. iv (2005) acc 563 (sc), decided on 8.8.2003 by the apex court, submitted that there was no contract between the insurance company and owner of the truck for indemnifying the liability of interest also apart from the compensation which was to be paid. judgment of the ..... nullity and in any case deserves to be set aside and the appellant cannot be directed to comply with the same; and(iii) there being no contract between the insurance company and the owner of the truck for paying interest awarded on any amount of compensation, the liability of payment of interest could ..... the insurance company and the employer, this liability passes over to the insurance company, who is to make the payment, unless there is a contract to the contrary, or the insurance policy makes some reservation with respect to the amount awarded in compensation, fixing or restricting the liability of .....Tag this Judgment!
Court : Income Tax Appellate Tribunal ITAT Delhi
Decided on : Aug-31-2005
Reported in : (2006)283ITR28(Delhi)
..... government of hashemite kingdom of jordan, that has come into force on 16th oct., 1999. according to clause 1 of article 8, "profits derived by an enterprise of a contracting state from the operation by that enterprise of ships or aircraft in international traffic shall be taxable only in that state." he argued that prior to 16th oct., 1999 there ..... law developments are now, in substance, embodied in the 1978 act. "commercial transaction" is defined to include not only contracts for the supply of goods or services but also the provision of finance through loans and the like, and any guarantee or indemnity in respect of such transactions. even more widely it extends to "any other transaction or activity (whether of a ..... law of the country where they were made. special arrangements have also been made by treaty for withholding, as between the contracting parties, jurisdictional immunity from state-owned ships engaged in commerce. as regards proceedings against foreign states arising out of their tortuous acts, a decree of local jurisdiction is often ..... interest, the mere assertion, unsubstantiated by proof, by that state of its interest was not sufficient to oust the jurisdiction of the court. so too with regard to loans contracted by governments abroad, the predominant view appears to be that the principle of immunity from jurisdiction does not entail the exemption of such governmental transactions from the operation of the .....Tag this Judgment!
Court : Karnataka
Decided on : Apr-15-2005
Reported in : AIR2005Kant325; 2005(4)KarLJ57
..... be shared at 50:50 between us.4. to high stake coal at plot and load wagons/trucks for onward despatch to our factory site by arranging rakes by proper indemnity railway as per our instructions.5. you should ensure proper loading of the wagons to avoid over loading or under loading. dead freight if any will be to your account ..... appeal. the other contentions as regards the competing bidders having formed a cartel and the allegations of a complicity on the part of kpcl in accommodating them and awarding the contract in favour of the successful bidder cannot be gone into in these proceedings on the basis of the material on record.19. in this view of the matter, we do ..... entail a loss of approximately rs. 100 crores per year to the state exchequer. it was also contended that the appellant was a successful bidder in respect of a transportation contract of a similar nature of supply of coal of mahanadi coal fields to rayalseema thermal power project in andhra pradesh, which was the subject-matter of writ proceedings before the ..... ship basis.payment.--for all the above composite operation, you will be paid rs. 85/- per mt on the manifest quantity.contract period.--the contract is valid for the period of 4 years. we reserve the right to terminate the contract by issuing 3 months notice.thanking you,yours faithfully,for the india cements limited,sd/-(k. rajendran)general manager (matls.)'.it may .....Tag this Judgment!
Court : Himachal Pradesh
Decided on : Sep-20-2005
Reported in : 2007(3)ShimLC173
..... to him in the relation of a contractor from whom the workman could have recovered compensation), and all questions as to the right to and the amount of any such indemnity shall, in default of agreement, be settled by the commissioner.(3) nothing in this section shall be construed as preventing a workman from recovering compensation from the contractor instead of ..... execute the work or which are otherwise under his control or management.7. reading of this section makes it absolutely clear that wherever the work of some industrial establishment is contracted out, the principle employer shall continue to be responsible to pay the amount payable under the act. however, he has a right to recover the same from the contractor.8 ..... as a result of the work in which the claimant was deployed.6. so far as the second question is concerned, section 12 of the act provides as follows:12. contracting.-(1) where any person (hereinafter in this section referred to as the principal) in the course of or for the purposes of his trade or business ..... contracts with any other person (hereinafter in this section referred to as the contractor) for the execution by or under the contractor of the whole or any part of any work .....Tag this Judgment!
Court : Mumbai
Decided on : Apr-04-2005
Reported in : AIR2006Bom8
..... scheme are settled as per the formula which is reproduced below :shortfall in the yield(threshold yield-average yield)claim = threshold yield x sum insured.according to the respondents the indemnity claims under the schemes are payable when there is a shortfall in yield. the threshold yield and the actual yield table are filed at exh. f and these tables are ..... banks and the primary co-operative societies.17. one more aspect in this respect has to be taken into consideration. under the ccis, there is no provision of any direct contract of insurance between the farmer and any of the respondents. the entire ccis is being implemented through the gic and the primary co-operative societies and the banks. naturally, in ..... affected directly by the alleged methodology of crop cutting experiment. it is also stated that the claims for compensation are individual rights under general law of contract, which are governed by privity and by terms of contract. such disputes cannot be agitated in a representative capacity.10. the respondent no. 3 has filed the reply of one dattatraya govind halve, assistant manager .....Tag this Judgment!
Court : Gujarat
Decided on : Jul-18-2005
Reported in : 144CompCas807(Guj); 63SCL304(Guj)
..... selling the property as the official liquidator attached to this court pursuant to the directions of the court in the matter and as such will not give any warranty or indemnity of any kind, whatsoever.(h) the purchaser shall be liable to pay all statutory dues, if any, due and payable on the properties of the subject company for the period ..... money deposit. this condition and other conditions in respect of the payment of purchase consideration are without prejudice to the right of the official liquidator. if the vendor terminates the contract as aforesaid he will be entitled to put the properties for resale with the permission of this court.(k) the vendor has no documents or title deeds relating to the ..... some amount of earnest money is a normal condition of tender. the object is that only such parties who arc financially sound and arc serious in getting the work or contract, should make a bid. otherwise any number of persons who have no capacity, financial or otherwise, would like to take a chance by making a bid. normally, state/central government .....Tag this Judgment!