Kerala Court November 1970 Judgments
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Ayissa and anr. Vs. Prabhakaran
Court: Kerala
Decided on: Nov-06-1970
Reported in: AIR1971Ker239
P. Subramonian Poti, J.1. The question that arises for decision in this second appeal is whether plaintiffs are entitled to claim the return of an amount of Rs. 1500/-paid as earnest money in connection with the purchase of a property on the plea that there was frustration of contract. The defendant and his three minor sisters obtained the suit property under a gift deed. An agreement was entered into by the defendant purporting to be on, his behali and on behalf of his minor sisters as their guardian to sell the suit property to the plaintiffs for Rs. 26,500/-. An amount of Rs. 1500/- was paid on that day towards the consideration to be kept in the hands of the defendant as earnest money. The agreement was executed on 14-11-1961 and it provided that plaintiffs were to take the sale deed within 2 months after payment of the balance consideration. Plaintiffs complained in the suit that the defendant did not obtain a certificate authorising him as guardian to alienate the rights of the m...
Excel Productions, Alleppey Vs. the Commissioner of Income-tax, Kerala ...
Court: Kerala
Decided on: Nov-02-1970
Reported in: AIR1971Ker185; [1971]80ITR356(Ker)
Raghavan, J.1. The question involved in this reference lies within a narrow compass, though the counsel on both sides have told us that there is no precedent on the question.2. The assessee is a registered partnership firm, originally registered on 20th October 1952 with five partners. The managing partner had a third share in the partnership and the remaining four partners had equal shares in the remaining two-thirds. On 29th May 1962, the constitution of the firm was changed by taking four minors also as partners. The five original partners took 14 per cent. each as their shares and the remaining 30 per cent, was distributed equally among the four minors. The reconstitution was to take effect from 1st June 1962, though the accounts of the firm as constituted originally continued till 30th June. In other words, for the first half year, the firm as constituted originally continued and for the second half year, the firm as reconstituted was treated as another firm. The Income-tax Office...
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