Court : Andhra Pradesh
Decided on : Jun-14-1984
Reported in : [1987]62CompCas40(AP)
Kodandaramayya, J.1. The Life Insurance Corporation of India represented by its zonal manager is the appellant in this appeal. The suit is laid by the plaintiff for recovery of Rs.20,000 with interest being the policy amount due on account of the death of her husband who nominated her under the policy. The plaintiff's husband having insured his life for Rs. 20,000 on July 13, 1970, died on May 7, 1971, and when she submitted the claim on October 19, 1977, the Corporation repudiated the contract and denied the claim and hence the plaintiff filed the suit. 2. The defence is that late Venkateswararao, plaintiff's husband, had undergone treatment for hypertension and shortness of breath under a private medical practitioner at Vijayawada and that fact was no disclosed to the Corporation and he intentionally suppressed the said fact and took a policy declaring that his health is good and hence the contract is repudiated and the said claim is not sustainable and the suit is liable to be dismi...
Tag this Judgment!Court : Andhra Pradesh
Decided on : Nov-06-1984
Reported in : AIR1985AP321; [1987]61CompCas452(AP)
Ramachandra Raju, J.1. The appeal is directed against the decree and judgment dismissing O.S. No. 33 of 1979 on the file of the Subordinate Judge, Sangareddy, a suit filed for partition of the properties belonging to the estate of one late S. M. Ghouse, who died on January 9, 1979, due to a fatal accident, while working as a lineman in the State Electricity Board at Siddipet. 2. The parties are referred to, according to their position, in the suit. Plaintiffs Nos. 1 and 2 are, respectively, the farther and mother of late S. M. Ghouse. The said Ghouse married one Razia Begum through whom, three daughters, plaintiffs Nos. 3 to 5, all minors, were born to him. On the death of Razia Begum in the year 1972, S. M. Ghouse married the first defendant as his second wife. The second defendant is his son through the first defendant. The third defendant is the posthumous daughter of S. M. Ghouse by the second marriage. Various amounts, detailed as items Nos. 1 to 16 of the plaint schedule, belong ...
Tag this Judgment!Court : Andhra Pradesh
Decided on : Aug-07-1984
Reported in : (1985)44CTR(AP)18; [1985]154ITR830(AP)
Raghuvir, J.1. In this reference, the question referred is, whether, on the facts and in the circumstances of the case, the loan of Rs. 19,486 taken from the Life Insurance Corporation against the security of the life insurance policies of the assessee was deductible in computing the net wealth of the assessee. The question was referred under the W.T. Act 1957 (Act No. XXVI of 1957). 2. The facts disclose that the assessee obtained a loan of Rs. 19,486 on the basis of a life insurance policy. He claimed that the loan amount should be deducted from his wealth as the loan was secured against the life insurance policy. The WTO and the AAC negatived the claim. The two orders were confirmed by the Appellate Tribunal. Thereupon, at the instance of the assessee, the above question is referred to this court for determination by this court. 3. The assessee seeks to substantiate the claim from the standpoint of legislative changes made in s. 5(1), where the word 'chargeable' is sub-stituted afte...
Tag this Judgment!Court : Andhra Pradesh
Decided on : Dec-28-1984
Reported in : (1986)ILLJ441AP
Seetharam Reddy, J.1. In this appeal, two points are canvassed by the learned counsel for the appellant. Firstly, the judgment under appeal, is erroneous inasmuch as the lower tribunal has taken a perverse view of the matter as no evidence has been let in on behalf of the State Insurance Corporation to establish that in the appellant's factory ten or more persons were engaged as employees. Secondly, in this case, it is the Corporation that is constrained to invoke the jurisdiction of the Employees' State Insurance Court and it is not for the appellant to get the dispute adjudicated. 2. The facts, in brief, may be stated : The appellant was doing business in cutting stones and selling the same. M/s. South India Granite Corporation was said to be previously the proprietary concern of Sri T. Abdul Sattar; later, the appellant became one of the partners. The firm's business became established for a short duration from 1976 to 1979 and then again, it was commenced with effect from 10th Febr...
Tag this Judgment!Court : Andhra Pradesh
Decided on : Aug-24-1984
Reported in : AIR1985AP83
..... net annual income (british transport corporation v. gourley (1956) a.c. 185). 39. the product of the multiplier and the multiplicand gives the compensation payable under the fatal accidents act. the said product need not be reduced by the collateral benefits received by the dependents on the event of the death of the victim - such as insurance, provident fund etc. parry v. ..... values), the lower will be the multiplier and vice versa. we have adopted the table no. iv prepared at 51/2% compound interest rate as being applicable to our country inasmuch as this rate can be treated as in vogue during stable periods of our country as pointed out by lord diplock in mallet v. mc. monagle ..... we shall point out below this is to be apportioned between the widow and children according to their needs and expected life span and if these persons should get a share from the loss to the estate', the same is to be deducted from the amount apportioned under the fatal accidents act.(a) loss to the estate:43. the loss to the estate is to be recovered by these who are entitled to the estate under the law - the heirs on intestacy or the legatees ..... deceased, if they are otherwise legal representatives of the deceased according to their personal law, would also be entitled for an apportionment of the dependency. 52. section 110-b of the motor vehicles act provides that the tribunal shall hold an enquiry into the claims of the parties and shall make an 'award determining the amount of compensation which appears .....
Tag this Judgment!Court : Andhra Pradesh
Decided on : Feb-20-1984
Reported in : AIR1985AP58
1. This is an appeal filed by the Life Insurance Corporation of India (LIC) represented by the Divisional Manager, L.I.C. of India, Hyderabad, against the judgment and decree passed by the learned Subordinate Judge, Cuddapah, in O.S. No.106 of 1978. O.S. No. 106 of 1978 has been filed by one Nirmala Adi Reddi, wife of the late Adireddi Rangarao, and by her two minor daughters and one minor son represented by here as guardian-ad litem against the L.I.C. of India as the first defendant and against one Adireddi Achayamma, the mother of the late Rangarao and mother-in-law of the said Nirmala Adireddi. The late Rangarao took a life insurance policy with the 1st defendant, L.I.C. of India, before he was married, bearing No.3975 1967 for a sum of Rs.25,000/-. He took this policy on 3rd August , 1971 and nominated his mother, the 2nd defendant. Subsequently , he was married to the 1st plaintiff and took two other insurance policies for Rs.10,000 each nominating his wife under these policies. A...
Tag this Judgment!Court : Andhra Pradesh
Decided on : Sep-06-1984
Reported in : (1985)49CTR(AP)66; [1985]156ITR386(AP)
Ramanujulu Naidu, J.1. This is a reference made to this court under s. 256(1) of the I.T. Act, 1961, ('the Act'), by the Income-tax Appellate Tribunal, Hyderabad. 2. It is stated by the Tribunal that the assessee is a registered firm carrying on business as financiers under hire purchase agreements. It advances money on hire-purchase agreements to the intending purchasers of motor vehicles against hypothecation of the vehicles. The loans advanced are repayable on instalments together with the stipulated interest thereon. In addition, the assessee also collects from its constituents certain amounts payable by them to the Hindustan Ideal Insurance Company towards premia on account of 'Accident Insurance Policies' taken on the vehicles. Intially the amounts collected were credited to the accounts of the individual constituents. But subsequently the same were transferred to the account of the Hindustan Ideal Insurance Company. From the said account, regular payments towards premia of insur...
Tag this Judgment!Court : Andhra Pradesh
Decided on : Mar-23-1984
Reported in : (1985)45CTR(AP)206; [1985]154ITR777(AP)
Anjaneyulu, J. 1. The Income-tax Appellate Tribunal referred the following question of law under s. 256(1) of the I.T. Act (for short 'the Act') for the opinion of this court : 'Whether, on the facts and in the circumstances of the case, the amount of Rs. 40,000 received by the assessee as a forfeiture of security deposit is a revenue receipt ?' 2. The assessee is a partnership firm and the assessment relates to the year 1973-74. The assessee was carrying on business in the exhibition of cinema films. On August 25, 1968, the assessee-firm leased the cinema hall to M/s. K. Bhakthavatsalam and another (hereinafter referred to as 'the lessee') for a period of 151 weeks subject to the payment of weekly rent of Rs. 3,521. A sum of Rs. 40,000 was deposited by the lessee with the assessee as security under the agreement. Under clause 6 of the agreement, the amount of Rs. 40,000 shall be returned to the lessee one week before the date of termination of the agreement. If the assessee fails to r...
Tag this Judgment!Court : Andhra Pradesh
Decided on : Mar-02-1984
Reported in : (1985)46CTR(AP)238; [1985]152ITR753(AP)
Anjaneyulu, J.1. At the instance of the Commissioner of Income-tax these reference were made by the Income-tax Appellate Tribunal under s. 256(1) of the I.T. Act, 1961. The question referred in all the three cases is identical and it will be convenient to deal with the same in this common judgment. 2.The Andhra Pradesh State Electricity Board (for short, 'the Electricity Board'), the respondent in these reference made certain payments to non-residents against the purchase of machinery and equipment and also against the work executed by the non-residents in India of erecting and commissioning the machinery and equipment. The question arose whether the Electricity Board was under an obligation to deduct tax at source from these payments under s. 195 of the I.T. Act, 1961 (for short 'the Act'). The payments were made by the Electricity Board without deduction of tax at source. The ITO held that the Electricity Board was under an obligation to deduct tax at source under s. 195. Owing to th...
Tag this Judgment!