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Judgment Search Results Home > Cases Phrase: formation of contract indian contract act Year: 1967 Page 1 of about 29 results (0.085 seconds)

Nov 30 1967 (HC)

Agarwal and Co. Vs. Commissioner of Income-tax

Court : Allahabad

Decided on : Nov-30-1967

Reported in : [1968]68ITR673(All)

..... facto become partners in the business so as to clothe them with all the rights and obligations of a partner as defined by the indian contract act. in such a case the family as a unit does not become a partner, but only such of its members as in fact ..... 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. ..... section are ' where two or more such joint families form a partnership '. it is not possible to say that because under the contract act and the partnership act two or more joint families as such cannot form a partnership, therefore, the words mentioned above are surplusages. as pointed out earlier ..... 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. the legislature knew this legal position yet in 1936 thought it fit and proper to use the words ' where two or more such joint families form a partnership ' in section 4(3) of the act .....

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May 05 1967 (SC)

Seth Pushalal Mansinghka (P.) Ltd. Vs. Commissioner of Income-tax, Del ...

Court : Supreme Court of India

Decided on : May-05-1967

Reported in : [1967]66ITR159(SC)

..... profits of the business accrue. in some cases it may be the place of the formation of the contract, but other matters - for instance the place where the contract is carried out or acts are done under the contract - may be decisive in certain circumstances. when the business consists of buying and selling ..... are not saying that the place of formation of the contract prevails against everything else. in some circumstances it may be so, but other matters - acts done under the contract, for example - cannot be ruled out a priori. in the case before the board the contracts were neither framed nor carried out in ..... consignments left the godown at bhilwara, they would be entirely at the buyers risk. apart from these written terms and and conditions of the contract, the income-tax appellate tribunal has recorded the further finding of fact that the appellant consigned the goods to 'self' and that the ..... purchaser unless there is unconditional appropriation, of the goods in a deliverable state, to the contract.section 23 of the indian sale of goods act, 1930, (3 of 1930), states :'(1) where there is a contract for the sale of unascertained or future goods by description and goods of that description and ..... in a deliverable state are unconditionally appropriated to the contract, either by the seller with the .....

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May 05 1967 (SC)

Seth Pushalal Mansinghka (P.) Ltd. Vs. Commissioner of Income-tax, Del ...

Court : Supreme Court of India

Decided on : May-05-1967

Reported in : AIR1967SC1626; [1967]3SCR961

..... profits of the business accrue. in some cases it may be the place of the formation of the contract, but other matters - for instance the place where the contract is carried out or acts are done under the contract - may be decisive in certain circumstances. when the business consists of buying and selling ..... are not saying that the place of formation of the contract prevails against everything else. in some circumstances it may be so, but other matters - acts done under the contract, for example - cannot be ruled out a priori. in the case before the board the contracts were neither framed nor carried out in british ..... left the godown at bhilwara, they would be entirely at the buyer's risk. apart from these written terms and and conditions of the contract, the income-tax appellate tribunal has recorded the further finding of fact that the appellant consigned the goods to 'self' and that the railway ..... unless there is unconditional appropriation, of the goods in a deliverable state, to the contract. 10. section 23 of the indian sale of goods act, 1930, (3 of 1930), states : '(1) where there is a contract for the sale of unascertained or future goods by description and goods of that description ..... and in a deliverable state are inconditionally appropriated to the contract, either by the seller with .....

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Apr 24 1967 (HC)

S.R. Chockalingam Chettiar and anr. Vs. Commissioner of Gift Tax, Madr ...

Court : Chennai

Decided on : Apr-24-1967

Reported in : AIR1969Mad302

..... of the indian companies act was issued to chockalingam chettiar and other shareholders, a right to obtain a specified number of shares in the fresh issue of capital was also conferred on ..... share is not a sum of money, but is an interest measured by a sum of money, and made up of various rights contained in the contract, including the right to a sum of money of a more or less amount.'it would, therefore, follow that the moment the appropriate circular under section 81 ..... that company made for the first time after the formation, whichever, is earlier, it is proposed to increase the subscribed capital of the company by allotment of further shares, then- (a) such further shares ..... assessment year was 1958-59. in the previous year, that is the year ended 12-4-1958, the company issued fresh capital. acting under the provisions of section 81 of the indian companies act, 1956, the company issued a circular to the shareholders stating that they could renounce the shares offered to them in favour of any ..... together with the power to renounce in favour of any other person. section 81(1) of the companies act reads thus:--'81 (1). where at any time after the expiry of two years from the formation of a company or at any time alter the expiry of one year from the allotment of shares in .....

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Apr 24 1967 (HC)

S. R. Chockalingam Chettiar Vs. Commissioner of Gift-tax.

Court : Chennai

Decided on : Apr-24-1967

Reported in : [1968]70ITR397(Mad)

..... of the indian companies act, was issued to chockalingam chettiar and either shareholders, a right to obtain a specified number of shares in the fresh issue of capital was also conferred ..... a share is not a sum of money, but is an interest measured by a sum of money, and made up of various rights contained in the contract, including the right to a sum of money of a more or less amount.'it would, therefore, follow that the moment the appropriate circular under section 81 ..... that company made for the first time after the formation, whichever is earlier, it is proposed to increase the subscribed capital of the company by allotment of further shares, then, -(a) such further shares ..... year was 1958-59. in the previous year, that is, the year ended april, 12, 1958, the company issued fresh capital, acting under the provisions of section 81 of the indian companies act, 1956, the company issued a circular to the shareholders stating that they could renounce the shares offered to them in favour of any person ..... together with the power to renounce in favour of any other person. section 81(1) of the companies act reads thus :'81. (1) where at any time after the expiry of two years from the formation of a company or at any time after the expiry of one year from the allotment of shares in .....

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Sep 20 1967 (SC)

Sunderlal and Son Vs. Bharat Handicrafts (P.) Ltd.

Court : Supreme Court of India

Decided on : Sep-20-1967

Reported in : AIR1968SC406; [1968]1SCR608

..... members of the east india jute and hessain exchange ltd. an association recognised under the provisions of the forward contracts (regulation) act, 1952. the appellants applied to the high court of judicature at calcutta on its original side under s. 33 of the indian arbitration act 10 of 1940 for an order, inter alia, declaring that 'there exists a valid arbitration agreement contained in ..... be punished. it could obviously not have been intended by the parliament to punish a person for failing to secure the consent or authority of the other party to the contract - an act which depends solely upon the volition of that other person. the apparent obscurity in the penal provision cannot however be utilized to restrict the prohibition contained in s. 15 ..... averment. the learned judge observed that he was 'unable to hold that the appellants had proved that the appellants were members of the association at the time of the formation of the contract'. it is unfortunate that the attention of the learned judge was not invited to the admission made by the respondents in paragraph 6 of the plaint filed by them ..... - (1) that the appellants were not at the relevant time members of the association; and (2) that the requirements of s. 15(4) of the forward contracts (regulation) act were not complied with and the contract was on that account invalid. the high court decided both the grounds in favour of the respondents. 4. the appellants averred in their petition that they were .....

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Jan 12 1967 (HC)

C.C. Mathew Vs. State of Kerala and ors.

Court : Kerala

Decided on : Jan-12-1967

Reported in : AIR1968Ker230

..... paragraphs 4 and 10 of the counter-affidavit of the 1st respondent, he served as an assistant commandant in hyderabad special reserve police on a contract basis from 26-4-1952 to 31-3-1953. he was recruited as a deputy superintendent of police in the travancore-cochin state on 19- ..... nambiar, j.1. this writ petition was posted along with the representations received from the 6th and 8th respondents that the provisions of the indian soliders' litigation act, 1925 may be taken into account and proceedings in this writ petition may be kept in abeyance. i considered these representations before arguments were ..... -1941. with the formation of the travancore-cochin state in 1949 the petitioner and others became members of the travancore-cochin state forces; and with the coming into force ..... also members of the armed forces of the travancore-cochin state. the petitioner. respondents 2 to 8 and others were asked to appear before the indian army service selection board, but were found unacceptable, and were ordered to be released from the ranks of the armysome of those so ordered to ..... the 8th respondent, and are adequately represented by him. i therefore refrain from suspending the proceedings under the proviso to section 6 of the act, and proceed to consider the matter on the merits.4. the petitioner was commissioned as a second lieutenant in the travancore state forces on 1-10 .....

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Mar 24 1967 (HC)

The Municipal Council, Represented by Its Commissioner Vs. Pasupathi M ...

Court : Chennai

Decided on : Mar-24-1967

Reported in : (1969)1MLJ394

..... consideration or there must be some statutory provision having the force of law providing against the withdrawal of the bid. section 5 of the indian contract act entitles the maker of a proposal to revoke the proposal at any time before the communication of its acceptance is complete as against him. it ..... the only authority that could accept the offer. there was nothing to forbid revocation of the bid before its acceptance. under section 5 of the indian contract act, an offer may be revoked at any time before the communication of its acceptance is complete as against the proposer. in the present case, ..... and as against the acceptor, when it comes to the knowledge of the proposer. it is in the light of section 3 of the indian contract act, the above principles relating to acceptance in section 4 and in the context of the facts of the case the observations of the learned judge ..... , that is, once when the conditional acceptance is made and again when the condition is fulfilled.6. now under section 4 of the indian contract act the communication or acceptance is complete as against the proposer when it is put in the course of transmission to him so as to be ..... subsequent. these expressions, ' provisional acceptance ' and ' conditional acceptance ' are not statutory phrases, but convenient words coined to denote a stage in the formation of the contract. they indicate one thing with certainty, that the proposal or offer has been made and communicated and that it has not been finally accepted. to .....

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Jul 12 1967 (HC)

Union of India Through General Manager Central Railway, T. Bombay Vs. ...

Court : Mumbai

Decided on : Jul-12-1967

Reported in : AIR1968Bom294; (1967)69BOMLR843; 1968MhLJ35

..... for the balance.(9) in principle, i do not see how any other conclusion is possible. sections 3 to 10 of the contract act lay down the general principles of formation of agreements and sections 7 and 8 are particularisation of the principles earlier formulated. if there is a proposal and it is accepted ..... on the contrary, his behaviour pointed to other things.(11) i may refer to the following observations of the author of sir dishaw mulla's contract act 8th edition under section 8 at page 65 where the learned author says:'no doubt the acceptance of an offered consideration, as such, amounts to giving ..... faithfully,chief commercial superintendent..it is claimed on behalf of the union that as the plaintiffs accepted and cashed the cheques. s. 8 of the contract act applies. the plaintiffs say that section 8 may apply to cases where there is unconditional acceptance and as in this case the plaintiffs did not accept ..... amount offered to them in full satisfaction of the amount due to them. whether or not, the matter related merely to the performance of the contract or to payment of damages would not make any difference in the application of the principle.(13) mr. vaidya relied firstly upon the decision of ..... of right and with a different intent; and in that case (which is exceptional but of some importance) the legal result will not be a contract between the parties, whatever else it is capable of being, unless indeed the party receiving the thing so conducts himself as to lead the proposer .....

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Oct 15 1967 (HC)

E.D. Sassoon and Co. Ltd. Vs. Commissioner of Income-tax, Bombay City ...

Court : Mumbai

Decided on : Oct-15-1967

Reported in : [1968]70ITR561(Bom)

..... (3) is in the following words : 'where any business, profession or vocation on which tax was at any time charged inter the provisions of the indian income-tax act, 1918 (vii of 1918), is discontinued, then, unless there has been a succession by virtue of which the provisions of sub-section (4) have ..... same business that the firm did, even after the taking over in december 1920/january, 1921. the whole trading of the assessee-company after its formation shows that it was doing business in shares and securities its issued and subscribed capital as shown in the balance-sheet for the year ending 31st december ..... the balance in installments. the assessee had, however, undertake to carry out the development within six months though the time was not the essence of the contract. in the relevant accounting year, the assessee had received only a sum of rs. 29,392 towards the sale price of lands, but in accordance ..... . ltd. it was here held that an income can only be property included under the head 'other source' covered by section 12 of the indian income-tax act if it cannot be legitimately included in any of the preceding heads indicated in section 6. in that case the assessee was a company dealing in ..... and gains which it had earned in that year under section 25(3) on the ground that its business was charged to income-tax under the indian income-tax act, 1918, and had been discontinued. this claim of the assessee has been concurrently negatived by the tax authorities as well as the tribunal. the .....

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