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Judgment Search Results Home > Cases Phrase: debentures companies act Court: delhi Year: 1982 Page 1 of about 2 results (0.032 seconds)

Feb 26 1982 (HC)

Additional Commissioner of Income-tax, Delhi (iii) Vs. Roshan Dass Bri ...

Court : Delhi

Decided on : Feb-26-1982

Reported in : [1982]137ITR816(Delhi)

..... in a particular manner we think not. 18. in smith v. law guarantee and trust society ltd. [1904] 2 ch 569 , a debenture trust deed executed by a company provided that the trustees should appropriate the proceeds of the realisation of the securities firstly towards interest and then towards interest and then towards principal. ..... . [1904] 2 ch 569 . their lordships have also not omitted to bear in mind the provisions of ss. 60 and 61 of the indian contract act, though these were not relied on in argument as applicable to the case.' 20.the madras high court applied this rule in chidambaram chettiar v. cit [1960 ..... from whom distinct debts are due makes a payment but neither he nor the creditor makes any apportionment. according to s. 60 of the indian contract act, if the debtor or the circumstances do not indicate the appropriation, the creditor is entitled to do so. this right only terminates when the creditor has ..... chronologically mr. wadhera, for the revenue, relying on the rule in clayton's case [1816] 1 mer. 572, and s. 61 of the indian contract act, so contended. 15. section 61 provides that where neither party makes any appropriation the payment shall be applied in discharge of the debts in order of time. ..... then to the question of appropriation of payments to the amounts due, it is necessary to examine ss. 59, 60 and 61 of the indian contract act, 1872. the question posed is whether the first item on the debit side of the account has to be discharged or reduced by the first item on .....

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Feb 26 1982 (HC)

Additional Commissioner of Income-tax Vs. Roshan Dass Brij Bhushan

Court : Delhi

Decided on : Feb-26-1982

Reported in : ILR1982Delhi121; [1982]136ITR816(Delhi)

..... a particular manner? we think not. (17) in smith v. law guarantee and trust society ltd., (1904) 2 ch. 569, a debenture trust deed executed by a company provided that the trustees should appropriate the proceeds of the realisation of the securities firstly towards interest and then towards principal. the ..... law guarantee and trust society ltd. : their lordships have also not omitted to bear in mind the provisions of ss.60 and 61 of the indian contract act, though these were not relied on in argument as applicable to the case.'the madras high court applied this rule in chidambaram chettiar v. commissioner of income ..... from whom distinct debts are due makes a payment but neither he nor the creditor makes any apportionment. according to section 68 of the indian contract act, if the debtor or the circumstances do not indicate the appropriation, the creditor is entitled to do so. this right only terminates when the creditor ..... chronologically mr. wadhera for the revenue, relying on the rule in clayton's case, 1814 all e.r.i and section 61 of the indian contract act, so contended. (14) section 61 provides that where neither party makes any appropriation the payment shall be applied in discharge of the debts in order of ..... to the question of appropriation of payments to the amounts due, it is necessary to examine sections 59, 60 and 61 of the indian contract act, 1872. the question posed is whether the first item on the debit side of the account has to be discharged or reduced by the first item .....

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