Bare Act Search Results

Indian Contract Act, 1872 Section 56

Title: Agreement to Do Impossible Act

State: Central

Year: 1872

.....A goes mad. The contract becomes void. (c) A contracts to marry B, being already married to C, and being forbidden by the law to which he is subject to practice polygamy, A must make compensation to B for the loss caused to her by the non-performance of his promise. (d) A contracts to take in cargo for B at a foreign port. A's Government afterwards declares war against the country in which the port is situated. The contract becomes void when war is declared. (e) A contracts to act at a theatre for six months in consideration of a sum paid in advance by B. On several occasions A is too ill to act. The contract to act on those occasions becomes void. ______________________ 1 . See section 65, infra.

Indian Contract Act, 1872 Section 34

Title: When Event on Which Contract is Contingent to Be Deemed Impossible, if It is the Future Conduct of a Living Person

State: Central

Year: 1872

If the future event on which a contract is contingent is the way in which a person will act at an unspecified time, the event shall be considered to become impossible when such person does anything which renders it impossible that he should so act within any definite time, or otherwise than under further contingencies. Illustrations A agrees to pay B a sum of money if B marries C, C marries D. The marriage of B to C must now be considered impossible, although it is possible that D may die and that C may afterwards marry B.

Indian Contract Act, 1872 Section 36

Title: Agreement Contingent on Impossible Event Void

State: Central

Year: 1872

Contingent agreements to do or not to do anything, if an impossible event happens, are void, whether the impossibility of the event is known or not to the parties to the agreement at the time when it is made. Illustrations (a) A agrees to pay B 1,000 rupees if two straight lines should enclose a space. The agreement is void. (b) A agrees to pay B 1,000 rupees if B will marry A's daughter C.C was dead at the time of the agreement. The agreement is void.

Indian Succession Act, 1925 Section 136

Title: Result of Legatee Rendering Impossible or Indefinitely Postponing Act for Which No Time Specified, and on Non-performance of Which Subject-matter to Go over

State: Central

Year: 1925

Where a bequest is made with a condition super-added that, unless the legatee shall perform a certain act, the subject-matter of the bequest shall go to another person, or the bequest shall cease to have effect but no time is specified for the performance of the act; if the legatee takes any step which renders impossible or indefinitely postpones the performance of the act required, the legacy shall go as if the legatee had died without performing such act. Illustrations (i) A bequest is made to A, with a proviso that, unless he enters the Army, the legacy shall go over to B. A takes Holy Orders, and thereby renders it impossible that he should fulfil the condition. B is entitled to receive the legacy. (ii) A bequest is made to A, with a proviso that it shall cease to have any effect if he does not marry B's daughter. A marries a stranger and thereby indefinitely postpones the fulfilment of the conditions. The bequest ceases to have effect.

Indian Succession Act, 1925 Section 126

Title: Bequest Upon Impossible Condition

State: Central

Year: 1925

A bequest upon an impossible condition is void. Illustrations (i) An estate is bequeathed to A on condition that he shall walk 100 miles in an hour. The bequest is void. (ii) A bequeaths 500 rupees to B on condition that he shall marry A's daughter. A's daughter was dead at the date of the will. The bequest is void.

Finance Act, 2012, (Central) Section 40

Title: Insertion of New Chapter X

State: Central

Year: 2012

.....purpose of obtaining a tax benefit, if the main purpose of a step in, or a part of, the arrangement is to obtain a tax benefit, notwithstanding the fact that the main purpose of the whole arrangement is not to obtain a tax benefit. 97. Arrangement to lack commercial substance.-- (1) An arrangement shall be deemed to lack commercial substance if-- (a) the substance or effect of the arrangement as a whole, is inconsistent with, or differs significantly from, the form of its individual steps or a part; or (b) it involves or includes-- (i) round trip financing; (ii) an accommodating party; (iii) elements that have effect of offsetting or cancelling each other; or (iv) a transaction which is conducted through one or more persons and disguises the value, location, source, ownership or control of funds which is the subject matter of such transaction; or (c) it involves the location of an asset or of a transaction or of the place of residence of any party which is without any substantial commercial purpose other than obtaining a tax benefit (but for the provisions of this Chapter) for a party. (2) For the purposes of sub-section (1), round trip financing includes any.....

Finance Act, 2012, (Central) Section 59

Title: Insertion of New Section 144ba

State: Central

Year: 2012

After section 144B of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2014, namely:-- "144BA. Reference to Commissioner in certain cases.-- (1) If, the Assessing Officer, at any stage of the assessment or reassessment proceedings before him having regard to the material and evidence available, considers that it is necessary to declare an arrangement as an impermissible avoidance arrangement and to determine the consequence of such an arrangement within the meaning of Chapter X-A, then, he may make a reference to the Commissioner in this regard. (2) The Commissioner shall, on receipt of a reference under sub-section (1), if he is of the opinion that the provisions of Chapter X-A are required to be invoked, issue a notice to the assessee, setting out the reasons and basis of such an opinion, for submitting objections, if any, and providing an opportunity of being heard to the assessee within such period, not exceeding sixty days, as may be specified in the notice. (3) If the assessee does not furnish any objection to the notice within the time specified in the notice issued under sub-section (2), the Commissioner shall.....

Air Corporations Act, 1953 Complete Act

State: Central

Year: 1953

.....with either of the Corporations. SECTION 09: CORPORATIONS TO ACT ON BUSINESS PRINCIPLES - In carrying out any of duties vested in it by this Act, each of the Corporations shall act so far as may be on business principles. CHAPTER 03: FINANCE, ACCOUNTS AND AUDIT SECTION 10: CAPITAL OF THE CORPORATIONS - (1) All non-recurring expenditure incurred by the Central Government for, or in connection with, each of the Corporations up to the date of establishment of that Corporation and declared to be capital expenditure by that Government, shall be treated as capital provided by the Central Government to that Corporation. (2) The Central Government may provide any further capital that may be required by either of the Corporations for the carrying on of the business of the Corporation or for any purpose connected therewith on such terms and conditions as the Central Government may determine. (3) Each of the Corporations may, with the consent of the Central Government, or in accordance with the terms of any general authority given to it by the Central Government- (a) borrow money for all or any of the purposes of the Corporation, and (b) secure the payment of any money.....

The Code of Criminal Procedure, 1973 Complete Act

State: Rajasthan

Year: 1973

.....issued by the State Government on or after the 2nd day of December, 1974 and before the commencement of the Code of Criminal Procedure (Amendment) Act, 1978 (Central Act 45 of 1978) purporting to establish any special Court of the Judicial Magistrate of the first class having jurisdiction over more than one district shall be deemed to have been issued under section 11 of the said code as amended by this Act and accordingly such notification issued and any act or proceeding done or taken or purporting to have been done or taken by virtue of it shall be deemed to be and always to have been valid" [Vide Kerala Act 21 of 1987 Punjab: In sub-section (1) of section 11, insert the following new sub-section:" "(1-A) The State Government may likewise establish as many Courts of Judicial Magistrate of the first class in respect to particular cases or to particular classes of cases, or in regard to cases generally, in any local area "[Vide Punjab Act 9 of 1978, sec 2 (wef 14-4-1978) Rajasthan: In sub-section (1) of section 11, the following new sub-section shall be inserted, namely:" "(1-A) The State Government may likewise establish as many Courts of Judicial Magistrate of.....

Contract Act, 1872 Complete Act

State: Central

Year: 1872

CONTRACT ACT, 1872 CONTRACT ACT, 1872 9 of 1872 CHAPTER 00: PRELIMINARY SECTION 01: SHORT TITLE This Act may be called the Indian Contract Act, 1872. Extent and commencement.-It extends to the whole of India except the State of Jammu and Kashmir; and it shall come into force on the first day of September, 1872. Enactments repealed.-Nothing herein contained shall affect the provisions of any Statute, Act or Regulation not hereby expressly repealed, nor any usage or custom of trade, nor any incident of any contract, not inconsistent with the provisions of this Act. SECTION 02: INTERPRETATION CLAUSE. In this Act the following words and expressions are used in the following senses, unless a contrary intention appears from the context :- (a) When one person signifies to another his willingness to do or to abstain from doing anything, with a view to obtaining the assent of that other to such act or abstinence, he is said to make a proposal: (b) When the person to whom the proposal is made signifies his assent thereto, the proposal is said to be accepted. A proposal, when accepted, becomes a promise: (c) The person making the proposal is called the "promisor",.....