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Judgment Search Results Home > Cases Phrase: formation of contract indian contract act Year: 1976 Page 1 of about 31 results (0.086 seconds)

Jan 23 1976 (HC)

Addl. Commissioner of Income-tax Vs. Visakha Flour Mills

Court : Andhra Pradesh

Decided on : Jan-23-1976

Reported in : [1977]108ITR465(AP)

..... the constitution of the firm would depend upon the context of the use of that expression.........under section 42 of the partnership act subject to the contract between the parties a firm is dissolved on, inter alia, the death of a partner. but, change in the constitution ..... provisions of sub-section (2) of section 187 do not change the concept of reconstitution of a firm as understood in the indian partnership act nor do they obliterate the distinction between reconstitution and dissolution and that once a firm is dissolved either by agreement or by operation ..... as, on the death of a partner of a partnership firm, the partnership automatically gets dissolved under section 42(c) of the indian partnership act, 1932, that a new firm for the remaining broken period in each of the two accounting years has come into existence as ..... has been run uninterruptedly. even if it amounts to dissolution of the earlier firm according to the provisions of section 42 of the indian partnership act, there is no doubt that such dissolution and succession has to be treated as a reconstitution of the firm according to the provisions ..... indian income-tax act, 1922, therein it was held that the death of one of the partners resulted in the dissolution of the partnership unless there is a contract to the contrary and such contract need not be expressed but may be inferred from the conduct of the parties although the contract must invariably be between the original partners at the time of formation of the contract .....

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Aug 31 1976 (HC)

V. Srinivasa Pillai Vs. Agent of Life Insurance Corporation of India, ...

Court : Chennai

Decided on : Aug-31-1976

Reported in : AIR1977Mad381

..... has special features of its own and not withstanding the fact that prima facie it is supported by consideration and has all the facts of a contract within the meaning of a contract under the indian contract act, yet has certain peculiar advantages and disadvantages depending upon the disclosure or non-disclosure of material facts which form the foundation to create the consensus ad ..... even submission of details regarding insignificant matters the insured might commit a bona fide mistake. if such answers or particulars do not strike at the foundation of the good faith contract, courts are very lenient towards the insured. but in a case where the insured gives such details which are exclusively within his or her knowledge then the question becomes ..... policy, which suit was instituted by the plaintiff, as the husband of ranganayagi 2. in the reply statement, the plaintiff pleaded that there was no such material misrepresentation and the contract of insurance having become final and irrevocable, the money was payable. he denied that his wife was suffering from tuberculosis and reiterated that the last child was born to the ..... idem between the insurer and the insured. it is normal to expect in a contract of insurance-utmost good faith, that is the insured is expected to answer various queries and takes upon himself the responsibility to give true and faithful in formation about himself and naturally he must be prompt and honest in answering such questions and making such .....

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Nov 22 1976 (HC)

Commissioner of Income-tax, Bombay City-ii Vs. T.C. Dolwani

Court : Mumbai

Decided on : Nov-22-1976

Reported in : [1978]111ITR650(Bom)

..... been done and, therefore, there would be justification for applying the presumption extracted above which is based on the provisions contained in section 114 of the indian evidence act. in the assessee's individual case also the first assessment was for 1950-51. therefore, the firms assessment as well as the individual assessment were ..... revenue to justify the reopening and to satisfy the tribunal or the court that there has not been a change of opinion unsupported by fresh in formation or discovery but a change of opinion supported and based upon such fresh information which may be even from the record itself or realisation of an ..... -3-46, by which he gave rs. 60,000 to jaidev and rs. 40,000 each to the others. there were two objects in the formation of the firm to take over the garage. one was to prevent mr. tekchand chandiram being declared an evacuee by the pakistan government, and the other ..... , the income-tax officer prepared a note regarding the conversion of the business of standard garage into a firm. the other facts relating to the formation of the firm as ascertained by him were also recorded in the note. this note has been extracted in full in the tribunal's order and ..... of natural events, human conduct and public and private business, in their relation to the facts of the particular case. (see section 114 of the indian evidence act). in our opinion, there is considerable force in this submission, although it must be conceded that there is no actual finding by the tribunal that .....

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Mar 22 1976 (HC)

Prem Conductors Pvt. Ltd. Vs. Commissioner of Income-tax, Gujarat-i

Court : Gujarat

Decided on : Mar-22-1976

Reported in : [1977]108ITR654(Guj)

..... in this connection there are several decisions specifying what can be said to be the date of setting up of the business. under the indian income-tax act, 1922, also, section 2(11)(c) defined 'previous year' in the same manner and there also it was the period from ..... and for the out of pocket expenses incurred by them for formation and promotion of the company and providing for utilising by the company the licence obtained by them from the government of india for manufacturing ..... purpose of taking over the business of the going concern of prem industrial corporation, ahmedabad, and it actually took over some of the contracts which prem industrial corporation had entered into with the electricity boards of different states in india. the assessee-company took over the raw ..... directors were authorised to take over the possession and make payments of all the expenses, rights, privileges, obligations towards know-how agreement and contracts of prem industrial corporation with all its advantages and licence providing for reimbursing for the services rendered by the said concern as the promoters ..... prem industrial corporation' at ahmedabad and all or any of the belongings, stock-in-trade, funds, assets, rights, privileges, liabilities, obligations and contracts of the said concern with all its advantages, goodwill and licence providing for reimbursing for the services rendered by the said concern as the promoters .....

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Apr 28 1976 (SC)

Additional District Magistrate, Jabalpur Vs. Shivakant Shukla

Court : Supreme Court of India

Decided on : Apr-28-1976

Reported in : AIR1976SC1207; 1976CriLJ945; (1976)2SCC521; [1976]SuppSCR172; 1976(8)LC610(SC)

..... to deal effectively with the emergency, the grounds, information and materials would in most cases be confidential and if a claim of privilege were made under section 123 of the indian evidence act, it would almost invariably be held justified. the legislature, therefore, taking into account the privileged character of the grounds, information and materials in the generality of cases, enacted sub ..... of time to raise an apprehension that the past conduct of the detenu is likely to project itself into the future or that the grounds are too vague for the formation even of subjective satisfaction or that irrelevant and extraneous considerations have materially influenced the mind of the detaining authority. on some few occasions detention orders have also been set aside ..... to meet imminent occurrence of war, all of which may create a crisis situation of the gravest order. the necessity of concentration of greater powers in the government and of contraction of the normal political and social liberties cannot be disputed in such a case, particularly when the people are faced with a grim horror of national enslavement. the second crisis ..... enforce all and every right to personal liberty. in that view, it would also make no difference whether the right to personal liberty arises from a statute or from a contract or from a constitutional provision contained in some part other than part iii.483. as regards the illustrations, it is neither proper nor possible to take each one of them .....

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Jul 16 1976 (HC)

K.P. JaIn Vs. S.K. Gupta and ors.

Court : Delhi

Decided on : Jul-16-1976

Reported in : [1978]48CompCas774(Delhi); ILR1976Delhi291

..... as the same is accepted both by the transferor and the transferees.'(18) the company judge took the view that under section 94 of the indian trusts act 1882 a constructive trust had come into existence between the transferor dfm and the transferees mr, and mrs. gupta, and even though the transfer ..... ) ihi was incorporated in 1951 with a share capital of rs. 8 lakhs. it floated 80,000 equity shares of rs. 10 each. since its formation 44,000 shares were held by the holding company, namely, dfm. they were the largest single share-holder having in their hands 55 per cent of ..... modification of the scheme. they have no right. (24) the learned company judge relied on the following statement of the law in palmer : 'once the contract has been entered into the transferee has an equitable title to the shares and the transferor holds them, until registration, as trustee for the transferee. however, ..... 483 are of the widest amplitude gokulchand morarka v. company law board (1974) 44 compcas 173. (53) it will be recalled that in 1971 the indian smelting and refining co. ltd. had made a petition for winding up of ihi. it was during the pendency of that winding up petition that dmf proposed ..... ihi from 1955 till 1970. the company closed down in 1971 or 1972. ihi is heavily indebted. the following are its main creditors-secured and unsecured: 1.indian smelling and refining company limited bombay. unsecured creditor for about 4 lakhs. 2. dfm. unsecured creditor .lor rs. 23 lakhs. 3. delia bank. secured .....

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Jun 24 1976 (HC)

Commissioner of Income-tax Vs. Pathinen Grama Arya Vysya Bank Ltd.

Court : Chennai

Decided on : Jun-24-1976

Reported in : [1977]109ITR788(Mad)

..... original cost of the building and its written down value would be deemed profits under the second proviso to section 10(2)(vii) of the indian income-tax act, 1922. the supreme court held that, as the appellant-company sold the property for a stated consideration which was not shown to be notional ..... of the assessee-company. the new subsidiary company took over all the employees of the assessee-company working in the said division. at the time of formation of the new company gratuity payable to the transferred employees was calculated on the basis of the rules of the assessee-company to be rs. 56, ..... for the transferee-bank employing all the employees of the transferor-bank who have not completed the age of 60, on the basis of a fresh contract, but on the same terms and conditions as to remuneration and security of tenure as the employees were then enjoying under the transferor-bank, as ..... the name of phelps and co. ltd. to carry on the business of clothiers and tailors. by an order under section 11 (4) of the indian companies act, 1913, the name of the appellant-company was altered to associated clothiers ltd. on march 21, 1952. on the same day another company was incorporated ..... as an item in the determination of the profits of the firm under section 10(1) of the income-tax act cannot, therefore, be sustained. under section 10(2)(xv) of the indian income-tax act in the computation of taxable profits (omitting parts of the clause not material) 'anyexpenditure laid out or expended .....

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Jun 18 1976 (HC)

Smt. Bani Roy Chowdhury Vs. Competent Authority, Inspecting Assistant ...

Court : Kolkata

Decided on : Jun-18-1976

Reported in : [1978]112ITR111(Cal)

..... moneys or other assets which have not been or which ought to be disclosed by the transferee for the purposes of the indian income-tax act, 1922, or this act or the wealth-tax act, 1957. in fact, this is the presumption raised by section 269c(2)(a) and (b). i, therefore, hereby ..... w.p.) situated at block ' b', new alipur (and more fully described in the schedule annexed hereto), has been transferred as per deed registered under the indian registration act, 1908 (16 of 1908), in the office of the registering officer at dist. registrar, 24-parganas, alipur, on 12-12-72 for an apparent consideration ..... other assets which have not been or which ought to be disclosed by the transferee for the purposes of the indian income-tax act, 1922 (11 of 1922), or this act or the wealth-tax act, 1957 (27 of 1957), the competent authority may, subject to the provisions of this chapter, initiate proceedings for ..... with or relevant bearing on the formation of the belief. rational connection postulates that there must be ..... b) and section 148 of the income-tax act, 1961, which is similar in terms as that of section 34(1)(a) and (b) of the indian income-tax act, 1922, at page 448, made the following observation :' as stated earlier, the reasons for the formation of the belief must have a rational connection .....

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Jun 23 1976 (HC)

Smt. Lila Wati and ors. Vs. Paras Ram and ors.

Court : Himachal Pradesh

Decided on : Jun-23-1976

Reported in : AIR1977HP1

..... into service.15. the next submission is that these bahis were not intended tu charge any person with liability within the meaning of section 34 of the indian evidence act and were produced particularly as proof of the construction of the suit property by the joint hindu family and to indicate custody and reliance is placed on ..... of the letters of lalit kumar or duni chand, who lived at simla aftei 1948 as an employee of the himachal fradesh government on his transfer and formation of himachal pradesh from solan to simla and through these letters certain articles have been requisitioned from baba ji or other persons at solan. these letters had ..... his hand. therefore, in - the absence of any evidence to that effect, these bahi entries are not of any evidentiary value. under section 34 of the indian evidence act all entries in books of account, regularly kept in the course of business, are relevant and, therefore, admissible whenever they refer to a matter into which the ..... of the matters of fact from which the same may be implied, and not as a denial of the legality or sufficiency in law of such contract. but this rule 8 of order 3. in my opinion does not come into play because the plaintiffs had not based their case on any agreement ..... issue on the point. the defendants, in fact, denied the factum of partition and under order 6 rule 8 c.p.c. where a contract is alleged in any pleading, a bare denial of the same by the opposite party shall be construed only as a denial in fact of the express .....

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Feb 16 1976 (SC)

Dhanyalakshmi Rice Mills and ors. Vs. the Commissioner of Civil Suppli ...

Court : Supreme Court of India

Decided on : Feb-16-1976

Reported in : AIR1976SC2243; (1976)4SCC723; [1976]3SCR387; 1976(8)LC266(SC)

..... of the scheme for export of rice.25. the respondents also contend that the appellants have no right to claim refund under section 72 of the indian contract act because the payments were neither under mistake of law nor under coercion. it is said by the respondents that there is no coercion because the export ..... arose as to whether there was a mistake in paying the amounts and when exactly the mistake occurred and under what circumstances.31. section 72 the contract act states that a person to whom money has been paid, or anything delivered, by mistake or under coercion, must repay or return it. the mistake ..... him equitable considerations are not imported. a contract entered into under a mistake of law of both parties falls under section 21 of the contract act and not section 72. if a mistake of law had led to the formation of a contract, section 21 enacts that, that contract is not for that reason voidable. if ..... under mistake of law; it was due under a valid contract, and if it had not been ..... money is paid under that contract, it cannot be said that the money was paid .....

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