Judgment Search Results Home > Cases Phrase: insurance act 1938 4 of 1938 section 10 separation of accounts and funds Sorted by: old Page 1 of about 1,365 results (0.264 seconds)

The General Assurance Society Ltd. Vs. the Life Insurance Corporation ...

Court : Supreme Court of India

Reported in : AIR1964SC892; [1964]5SCR125

..... be met by the learned attorney general by contending that the appellant showed the said assets and liabilities as part of the life insurance business in the balance-sheets duly approved by the controlled under the insurance act, 1938 (act no. 4 of 1938) and, therefore, it is precluded from questioning the correctness of the said balance-sheets. this contention takes us to the consideration of the ..... insurance act, 1938. sections 10(1) and 11 of the said act provide for separations of accounts and funds, and maintaining of account and balance-sheets for different .....

The Commissioner of Income-tax, Bombay City Vs. the Great Eastern Life ...

Court : Mumbai

Reported in : (1949)51BOMLR938

..... -valuation period ending before the year in which the assessment is to be made. insurance companies usually get out an actuarial valuation for a quinquennial or triennial period which is all that they are required to do by section 13 of the assurance act, 1938, and some statutory authority for treating the triennial or quinquennial valuation as the basis ..... no distinction between residents and non-residents. unless the rule applies to non-residents, they would lose the valuable privilege conferred by rule 8 : nor would rule 4 apply. furthermore rule 2(6) is the only rule which enables profits and gains to be computed on the annual average disclosed by an actuarial valuation made for ..... at under rule 2(a).9. the assessee then appealed to the appellate tribunal. in the memorandum of appeal objection was taken to the figure of rs. 4,57,424 being treated as gross external incomings and it was alleged that that figure in the revenue account did not represent an actual receipt of income, and .....

The Neptune Assurance Co. Ltd. Vs. the Life Insurance Corporation of I ...

Court : Supreme Court of India

Reported in : AIR1963SC900; [1963]33CompCas289(SC); [1963]48ITR144(SC); [1963]Supp(1)SCR980

..... exceed the amount of tax payable by him. 4. now a reference has to be made to s. 10 of the insurance act, 1938. under sub-s. (2) of this section an insurer carrying on business of life insurance had to carry to a separate fund, called the life insurance fund, all receipts due in respect of that business ..... and the assets of this fund have to be kept distinct and separate from all his other assets. sub-section (3) provides that the life insurance ..... kinds of business carried on by an insurer. as we have earlier shown, the insurance act treated the various kinds of insurance businesses carried on by an insurer separately. likewise the act of 1956 treated the life insurance business as some-thing separate from other kinds of business carried on by an insurer. we think that it would be .....

Pollard Vs. Shaffer

Court : US Supreme Court

..... also some others, which have been quoted by the defendant's counsel, hold a doctrine that is strongly in favor of the defendant. in doctor and student, dialogue 2. ch. 4. pa 126. mr. st. german is puzzled to give a satisfactory reason to the question put by the doctor, to wit, 'if a man under age marries, and lands ..... , and yield up the tenements in good order and repair, because of the express covenant: and in support of this doctrine have been cited, doctor and student. dialogue 2. chap. 4. pa. 124. alleyn 27. stiles 47. s. c. 1 rolls abr. 939. s. c. comyns rep. 631. 632. 2 stra. 763. 1 vent. 185. plowd. 290. perkins 738. brook. ..... defendant, it is insisted, that the express covenant in this case does not bind against acts of god or enemies, but only against all other events; because such acts were not in the contemplation of either party at the time of the lease executed. a risque known and insured ought to be complied with, agreeably to the bargain, but not otherwise. every contract .....

Williams Vs. Craig

Court : US Supreme Court

..... aside their report. but, besides this, we find by the evidence under the sixth exception, that they have also allowed the charge of premium and commission for making an insurance, without requiring the policy to be produced, or any proof of its being lost; which is the only evidence that, in such cases, can be admitted in any ..... entered upon the record, or roll, shall have the same effect, and be as available in law as a verdict by twelve men.' 1 state laws 48. 4 ann. c. 36. this act differs essentially from the statute of w. 3. in many respects, but particularly, that to render a report, or award, valid and effectual, the former requires, ..... material testimony since the report. 6th, that the referrees allowed a charge for premium and commissions in making an insurance for the defendant, without requiring the plaintiff to produce the policy, or having any other proof that the insurance was effected, than a letter from the plaintiff himself to his partner in philadelphia, in which he says he .....

Hoare Vs. Allen

Court : US Supreme Court

..... money of the british creditors was vested, were paying high taxes for their own protection, and the debtor, as nominal holder, stood ultimate insurer of their value to the creditor; who was the real proprietor, because they were bought with his money. and who will estimate the value of this ..... but in 1787, when there was a general compliance enacted through all the united states, in order to see if that would produce a counter-compliance, their legislature passed the act repealing all laws repugnant to the treaty, and their courts, on their part, changed their rule relative to interest during the war, which they have uniformly allowed since that ..... it safely, was down to almost nothing in real money; e. g. tobacco was less than a dollar the hundred weight. imported articles of clothing or consumption, were from 4 to 8 times their usual price. a bushel of salt was usually sold for 100lb. of tobacco. at the same time these lands, and other property, in which the .....

Donaldson Vs. Means

Court : US Supreme Court

..... 26th of april 1777. the question to be decided, was, whether due notice had been given to the defendant to the protest of the bills; or he had done any act, which amounted to a waiver of notice? on this point, a letter was produced from the plaintiff to his father, dated the 10th of may 1778, advising of the protest ..... power to make a remittance. for the plaintiff, it was contended, 1st. the during the war, when continental money was a tender, the holder of a bill of exchange page 4 u.s. 109, 110 should not be required to pursue that strict punctuality, which might properly be exacted from him in a time of peace, and when his debt was ..... .s. 109 (1791) u.s. supreme court donaldson v. means, 4 u.s. 109 (1791) 4 u.s. 109 (dall.) donaldson v. means. supreme court of pennsylvania. september term, 1791 this was an action brought by the indorsee of three bills of exchange, against the indorsor. .....

Mcminn Vs. Owen

Court : US Supreme Court

..... term 'specie,' used in a policy of insurance, certain paper bills were intended by the underwriters, it was refused. sergeant, lewis and levy, for the plaintiff, urged, that the kind of money was not specified, and that this ..... not the court have it also? the principle of lee and biddis was, that the court were bound by the words 'current lawful money' and the positive words of the act of assembly. the proof is necessary to effect the intention of the parties, and to prevent an undue and fraudulent advantage. the case in davis. rep. proves, that, on ..... that alone is the rule. 2 bl. rep. 1249. even conversation of the parties at the time of the contract is not admitted, unless there is fraud. brown. ch. 93. 4. powell. 430. ambiguous expressions are not to be explained by parol proof. so was the case of benezet and m'clenachan where proof being offered to shew that by the .....

Respublica Vs. Richards

Court : US Supreme Court

..... the 7th section (differing from the other sections of the act) does not discriminate between the seduction of a negro, or a mulatto, whether he is a freeman, or a slave; and, if the law is positive and plain, neither the court, nor jury, can resist, or modify it. 4 bl. com. vaugh. 159. 37. 1 burr 100. ..... punishment the same, in its nature, as is inflicted for the most infamous crimes) ought certainly to induce the jury to deliberate well, before they determine, that the act committed by the defendant, constitutes the offence, which is the object of the law. the extravagant operation and extent of the doctrine, on which the prosecution is maintained, ..... debauchery, the master cannot forcibly seize and carry the delinquent to another place, either beyond, or within the jurisdiction of pennsylvania, without incurring the penalties of the act of assembly; if it is intended afterwards to keep and detain the negro or mulatto as a slave or servant. is it rational to conceive, that any legislative .....

Ware Vs. Hylton

Court : US Supreme Court

..... it gave peace to our country after a war attended with many calamities, and in some of its periods presenting a most melancholy prospect. it insured, so far as peace could insure them, the freest forms of government, and the greatest share of individual liberty, of which perhaps the world had seen any example. it presented ..... as aforesaid, the legislature of the state of virginia did, at its session commenced and held in the city of williamsburg on 3 may, 1779, pass an act entitled 'an act concerning escheats and forfeitures from british subjects,' whereby it was, among other things enacted," " that all the property, real and personal, within this commonwealth belonging ..... the least color of justice but by providing at the same time the fullest means of indemnification. 4. this construction derives great weight from the recommendatory letter of congress i before mentioned, for i will venture to say, had the act they recommended been passed in page 3 u. s. 280 the state in the very words .....