Court : Orissa
Reported in : AIR2005Ori92
..... mohanty also' referred to the provisions of sections 172 to 177 of the indian contract act, 1872 to show' that there are similar provisions therein and in particular, section 176, casting an obligation on the pawnee to pay over the surplus of the sale proceeds to the owner after realizing his ..... of section 29 by way of take over of the industrial concern and sale of the property pledged, mortgaged, hypothecated or assigned to the financial corporation that the money which is received by the financial corporation shall, in the absence of any contract to the contrary be held by it in trust to be applied firstly in payment of costs, charges and expenses incurred by the financial corporation and, secondly in discharge of the debt due to the financial corporation and the residue of the money ..... similarly a reading of section 69(4) of the transfer of property act, 1882 quoted above would show that it is 'the money which is received' by the mortgagee from the sale that in the absence of any contract to the contrary is held by the mortgagee in trust to be applied by him first in payment of all costs, charges and expenses properly incurred by him as incident to the sale or any attempted sale and, secondly, in discharge of ..... he also referred to the indian trust act, 1982 and in particular, to the provisions of section 11, 17 and 23 and argued that a trustee committing a breach of trust is liable to pay interest where the breach consists in unreasonable delay in paying the trust money to the .....
Tag this Judgment!Court : Orissa
Reported in : [1972]84ITR351(Orissa)
..... act says that expressions used but not defined in that act and defined in the indian contract act, 1872, have the meanings assigned to them in the contract act. ..... the following question has been referred by the income-tax appellate tribunal (hereinafter to be referred to as 'the tribunal') under section 66(1) of the indian income-tax act, 1922 (11 of 1922) (hereinafter to be referred to as 'the act'):'whether, on the facts and circumstances of the case, the inclusion of the amount of sales tax debited by the assessee to the purchase account and in view of the admission made by the assessee regarding ..... desire of the promisor, the promisee or any other person has done or abstained from doing or does or abstains from doing, or promises to do or to abstain from doing, something, such act or abstinence or promise is called a consideration for the promise (section 2(d) of the contract act). ..... turnover' prior to its amendment by the orissa sales tax (amendment) act, 1950, (orissa act 24 of 1950), stood thus:' 'turnover' means the aggregate of the amounts of sale prices received and receivable by a dealer in respect of sale or supply of goods or carrying out of any contract, effected or made during a given period.'12. ..... in the sales tax act is to be construed in the same sense as in the indian sale of goods act (see state of ..... the taxable income would be determined by deducting from the gross income all deductible expenditure under sections 10(1) and 10(2)(xv) of the indian income-tax act. .....
Tag this Judgment!Court : Orissa
Reported in : AIR2008Ori119; [2008(4)JCR183]; 2008(I)OLR796; 2008(5)AIRKarR55(FB).
..... the loanee is a pure and simple contract governed by the provisions of the indian contract act, 1872 read with the provisions in the act, 1951 and its rules. ..... that the expression 'owner' must be held to mean the 'registered owner' of the vehicle in whose name the vehicle stand registered under the provisions of the motor vehicles act.in view of the aforesaid interpretation of the expression 'owner' in sub-section (3) of section 60 of the ndps act, the appellant cannot be permitted to urge that the order for confiscation is bad, as he had no knowledge of the fact that the vehicle was used for carrying any ..... a vehicle, which is subject matter of confiscation proceeding under the act, 1872, being not available to the o.s.f.c. ..... aforesaid position of law, which emerge from section 64, if read with provision in section 56 of the act, then the concept of parting with the confiscation amount to the lender of the money is a misconceived one ..... the dispute, is whether the authorities under section 56 of the orissa forest act, 1972 (in short 'act 1972') are obliged to release the vehicle from the confiscation proceeding or to pay the sale proceeds of the vehicle after the order of confiscation in favour of orissa state financial corporation (in short ..... 2000 (1) crimes, 13 (sc) and the provision of law in section 56 and 64 of the act, 1972, correctness of the view expressed by a division bench of the court in the case of orissa state financial corporation (supra) is required to be examined by a .....
Tag this Judgment!Court : Orissa
..... directing forfeiture of the earnest money, the provisions of the indian contract act, 1872 are to be kept in mind and forfeiture is permissible only when a concluded contract has come into being and not prior thereto. ..... the provisions of the indian contract act, 1872 are to be kept ..... indian contract act, 1872 ..... wherein the division bench of madhya pradesh high court while dealing with section 5 of the contract act, 1872 held that a person is entitled to withdraw his proposals before its acceptance is intimated to him and further placed reliance in paragraph 4 of the judgment by referring to article 299 (1) held that it cannot be a valid contract, unless there is a valid contract executed as envisaged by article 299(1), where the government is a party, there could be ..... state of madhya pradesh and others, (supra), interpreting section 5 of the contract act, 1872 in paragraph 3 held that a person who makes an offer is entitled to withdraw his ..... in the said case, section 5 of the contract act, 1872 was examined and referred to the judgments of the supreme court and other decisions of the karnataka high court and madhya pradesh high court held that forfeiture of earnest ..... state of karnataka and others, 2009(2) ctlj 18 (karnataka), to which judgment the chief justice has presided the bench, after referring to section 5 of the contract act and referring to judgment of madhya pradesh high court and supreme court referred to supra has taken the same view as was taken by madhya pradesh high court .....
Tag this Judgment!Court : Orissa
Reported in : 1995(II)OLR66
..... case (supra) in paragraph 16 it has been held by the apex court that section 7 of the indian contract act 1872 requires that the acceptance of the offer must be absolute and unqualified, and it cannot be conditional. ..... the registered letter being that it was refused on 5-7-1978, a presumption under section 114 of the indian evidence act, 1872 (in short, the 'evidence act') was available to be drawn and view of unchallenged evidence that plaintiff no. ..... it is trite, that the conclusions arrived at on factual aspects are not to be interfered with in an appeal under section 100 of the code, where the lower courts have acted on presumptions or have arrived at conclusions which are not available to be drawn on the materials on record, or are perverse, the high court can interfere under section 100 of ..... shall be brought against any municipal councilor, the chairman, executive officer, any councilor, officer or servant, in respect of any act done or purporting to be done in execution or intended execution of this act or any rule, regulations, bye-law, or order made under it or in respect of any alleged neglect or default in the execution of this act or any such rule, regulations, bye-law or order, until the expiration of two months next after notice in writing stating the ..... relying on the observations made by the apex court in jawharlal's case (supra), it is submitted that the contract was a completed one and it was enforceable, and therefore, even if the agreement was not executed, that is .....
Tag this Judgment!Court : Orissa
..... . section 182 of the indian contract act,1872 defines an agent ..... in course of his argument, sri mukherjee learned senior advocate placed reliance on provisions under sections 1(a) and 2 of the power of attorney act as well as sections 182, 186, 226, 231 and 233 of the indian contract act in support of his contention that contract executed by an agent can be enforced by other contracting party even if other contract party does no.kno.that the executant was an agent or even though the identity of the principal is no.disclosed.21. ..... . section 226 of the indian contract act reads as follows: enforcement and consequences of agent s contracts.contracts entered into through an agent, and obligations arising from acts done by an agent, may be enforced in the same manner, and will have the same legal consequences, as if the contracts had been entered into and the acts done by the principal in person. ..... it was also contended on behalf of the defendants that provisions under sections 182, 186, 226, 231 and 233 of the indian contract act relied upon by sri mukherjeee, learned senior advocate are of no help to the plaintiffs.27. ..... in consonance with section 2 of the powers of attorney act, section 226 of the indian contract act provides that a contract executed by an agent stands has the same legal effect as that of a contract executed by the principal ..... . section 231 of the indian contract act provides for implications of a contract entered into by an agent without disclosing his status as an .....
Tag this Judgment!Court : Orissa
Reported in : AIR1995Ori186; 1995(I)OLR96
..... the answer to the question depends on the interpretation and inter play of relevant provisions of the indian contract act, 1872 (for short, 'the act'). ..... been used therein; that there is no conflict between the provisions of section 72 on the one hand and sections 21 and 22 of the contract act on the other; that the true principle is that if one party under a mistake, whether of fact or law, pays jo another party money which is not due ..... kanhaiya lal mukund lal saraf, reported in air 1959 sc 135 in which the court ruled that the term 'mistake' used in section 72, contract act, has been used without any qualification or limitation whatever and comprises within its scope a mistake of law as well as mistake of fact; that there is no warrant for ascribing any limited meaning to the word 'mistake' as has ..... venkatarama gopala iyer, reported in air 1963 madras 231, interpreting section 72 of the contract act held that even where the parties enter into a contract by reason of mistake in law but such a contract has been performed, it would be extremely inequitable for the party who accepts the benefit of the contract, to claim the amount on the_footing_ that the payment thereunder was under a mistake of law without restoring the other party to his original position and the_refore_any payment .....
Tag this Judgment!Court : Orissa
..... the indian contract act, 1872 defines fraud as act committed by a party to a contract ..... previous consent accorded by the state government and thereafter memorandum of understanding executed by the company in favour of the state government agreeing to certain terms and conditions as provided in section 41 of the l.a.act and thereafter on the basis of the report of the collector, the state government satisfied with the requisition made by the company that the proposed lands in the preliminary notification are required for ..... eminent domain power by the state government at the request of vedanta foundation and issuing preliminary notifications and proceeding with the further proceedings in granting previous consent as provided under section 39 of the l.a.act and publication of final notifications in respect of the lands covered under the preliminary notifications declaring that those lands are required in favour of the beneficiary company to establish a university which is ..... satisfied with the report, if any, of the collector under section 5-a, sub-section (2), or on the report of the officer making an enquiry under section 40 before publishing the final notifications under section 6 of the l.a.act that the proposed acquisition of lands is for the purposes referred to in clause (a) of sub-section (1) of section 40 and require the company to enter into an agreement with the state government as required under section 41 ..... the contract act defines fraud as act committed by a party to a contract .....
Tag this Judgment!Court : Orissa
Reported in : 109(2010)CLT680
..... 56 of the indian contract act, 1872 envisages as follows:56 ..... a contract to do an act which, after the contract is made, becomes impossible, or, by reason of some event which the promisor could not prevent, unlawful, becomes void when the act becomes impossible or unlawful.compensation for loss through non-performance of act known to ..... to the extent that the contract act deals with a particular subject, it is exhaustive upon the same & it is not permissible to import the principles of english law ' ..... of positive law & as such comes within the purview of section 56 of the contract act. ..... contract to do act ..... where the court gathers as a matter of construction that the contract itself contained impliedly or expressly a term, according to which it would stand discharged on the happening of certain circumstances, the dissolution of the contract would take place under the terms of the contract itself & such cases would be outside the purview of section ..... is really an aspect or part of the law of discharge of contract by reason of supervening impossibility or illegality of the act agreed to be done & hence comes within the purview of section ..... court in this regard has held as follows:the essential idea upon which the doctrine of frustration is based is that of impossibility of performance of the contract; in fact impossibility & frustration are often used as interchangeable expressions. ..... under section 32 which deals with contingent 'contracts or similar other provisions contained in the act. .....
Tag this Judgment!Court : Orissa
..... the indian contract act, 1872 defines fraud as act committed by a party to a contract ..... previous consent accorded by the state government and thereafter memorandum of understanding executed by the company in favour of the state government agreeing to certain terms and conditions as provided in section 41 of the l.a.act and thereafter on the basis of the report of the collector, the state government satisfied with the requisition made by the company that the proposed lands in the preliminary notification are required for ..... eminent domain power by the state government at the request of vedanta foundation and issuing preliminary notifications and proceeding with the further proceedings in granting previous consent as provided under section 39 of the l.a.act and publication of final notifications in respect of the lands covered under the preliminary notifications declaring that those lands are required in favour of the beneficiary company to establish a university which is ..... satisfied with the report, if any, of the collector under section 5-a, sub-section (2), or on the report of the officer making an enquiry under section 40 before publishing the final notifications under section 6 of the l.a.act that the proposed acquisition of lands is for the purposes referred to in clause (a) of sub-section (1) of section 40 and require the company to enter into an agreement with the state government as required under section 41 ..... the contract act defines fraud as act committed by a party to a contract .....
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