Court : Mumbai
Reported in : 2000(4)ALLMR510; 2001(1)BomCR261; [2001]247ITR609(Bom)
..... a transfer of ownership in exchange for a price, the 'price' being defined in section 2(10) of the sale of goods act as any consideration paid for sale of the goods. in cit v. motors and general stores (p.) ltd. : [1967]66itr692(sc) , it was pointed out by the supreme court that the presence of money consideration ..... is an essential element in a transaction of sale. tested by this yardstick, it would appear that in anamalgamation no consideration in any form ..... personality of its own and its property cannot be said to be the property of the union of india. hence, it is contended that by the act of amalgamation, there was no sale of any assets by the transferor-company (the sixth respondent) to the transferee-company (the ninth respondent) in the amalgamation. thus, it is urged .....
Tag this Judgment!Court : Mumbai
Reported in : [1994]80CompCas384(Bom)
..... legal and equitable, passed to the broker. the case, therefore, fell squarely within the latter part of section 27 and the proviso tosection 27 of the indian sale of goods act also applied. this is a completely different situation and the ratio of this case cannot apply to the present case. in the present case it cannot be denied ..... by reason of his conduct, the owner is precludedfrom denying the sellers authority to sell. in effect, what is claimed is the protection of section 27 of the sale of goods act. 25. in support of this reliance is placed upon the authority of this court in the case of fazal d. allana v. mangaldas m. pakvasa, air ..... law in india is concerned, shares are movable property. in india shares are goods within the meaning of the sale of goods act. the provisions of the sale of goods act and the indian contract act would apply to a transaction of sale of shares also. even in respect of transactions of sale of shares the doctrine of nemo dat quid non habet applies, subject to .....
Tag this Judgment!Court : Mumbai
Reported in : (1946)48BOMLR698
..... before the court showing the circumstances under which the railway receipt which has been defined in section 2, sub-section (4), of the indian sale of goods act, as a document of title to goods, was dealt with by the consignee indicated as such on the face of the railway receipt. the railway receipt being a document of title ..... the transaction. the relevant date therefore for the purpose of this consideration would be the date when the goods are entrusted to the railway company for carriage. if under section 23 of the indian sale of goods act the property in the goods has passed to the consignee at the time of the consignment, the consignee, the principal in the ..... and that position is not affected at all by the enactment of section 2, sub-section (4), of the indian sale of goods act, or the enactment of provisions analogous, to sections 103 and 178 of the indian contract act therein. as stated in halsbury's laws of england, hailsham edition, volume xxix, at p. 143, article 179: such .....
Tag this Judgment!Court : Mumbai
Reported in : AIR1939Bom435; (1939)41BOMLR609
..... business of a mercantile agent. for these reasons, if necessary, i would hold that defendant no. 4 was not protected under section 27 of the sale of goods act because there was want of good faith on his part in the transaction.25. in exhibit a at the time of putting his signature defendant no. 1 had added the word 'jangad ..... given jangad, i.e. for approval by a prospective customer or to be shown for approval. to such a case neither section 24 nor section 27 of the sale of goods act applies, and the extent of the authority of the agent depends on the terms of his agency, and the provisions governing the relations of principal and agent as ..... therefore does not govern the facts of this case. i think the discussion in that judgment about the applicability of section 24 of the sale of goods act, when goods are received on jangad terms, requires an explanation. goods or jewellery may be delivered by the owner to the buyer, with the intention that he may inspect the same and ultimately purchase it .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (2004)85TTJ(Mum.)821
..... ownership in the shares under consideration. thus, the shares have been transferred to m/s arvi associates as per the provisions of law. the provision of sale of goods act, 1930, relied upon by the learned departmental representative are moreover in favour of the assessee. the genuineness of this transaction, therefore, cannot be challenged.50 ..... by the assessee-company. in this connection, we would like to refer to some of the provisions of sale of goods act. section 2(4) of the sale of goods act, 1930, pertaining to definitions reads as follows : "document of title of goods includes a bill of lading, dock-warrant, warehouse keeper's certificate, wharfingers' certificate, railway receipt, ..... with the transfer process itself. so far as the transfer of shares is concerned, the same is guided solely by the provisions of sale of goods act, 1930, and the companies act merely provides for the mechanism in which such shares already transferred in the eyes of law, will be mutated in the books of the .....
Tag this Judgment!Court : Income Tax Appellate Tribunal ITAT Mumbai
Reported in : (2006)8SOT532(Mum.)
..... in the books of the assessee, this amount was shown to be recovered from the partnership firm. according to provisions of section 20 of the sales of goods act, if the goods are identified and parties intend to pass the property to the buyer, the payments can be deferred. but, in the instant case, necessary entries ..... in the shares under consideration. thus, the shares have been transferred to m /s. arvi associates as per the provisions of law. the provision of sale of goods act, 1930 relied upon by the learned departmental representative are moreover, in favour of the assessee.the genuineness of this transaction, thereforc, cannot be challenged.50. ..... the assessee-company. in this connection, we would like to refer to some of the provisions of sale of goods act. section 2(4) of the sale of goods act, 1930 pertaining to definitions reads as follows: '"document of title of goods" includes a bill of lading, dock-warrant, warehouse keeper's certificate, whare fingers 'certificate, railway receipt .....
Tag this Judgment!Court : Mumbai
Reported in : [1977]40STC36(Bom)
..... replace the defective machine or parts within a period of one year from the date of purchase by the ultimate purchaser. sub-section (1) of section 41 of the sale of goods act, 1930, clearly applied to the case, because, in the facts and circumstances of this case, it could not be said that the buyers, namely, the applicants, ..... this submission, mr. andhyarujina relied upon sections 41 and 42 of the sale of goods act. under sub-section (1) of section 41, where goods are delivered to the buyer which he has not previously examined, he is not deemed to have accepted them unless and until he has ..... upon these statutory provisions. what mr. andhyarujina, however, urged was that in view of the provisions of the sale of goods act, 1930, the property in the goods had passed to the applicants, and when the applicants returned the said goods to the said george salter india limited there was a resale by them to the said manufacturers. in support of .....
Tag this Judgment!Court : Mumbai
Reported in : AIR1959Bom158; (1958)60BOMLR337; ILR1958Bom725
..... of the lahore high court, that there is no real distinction between rescission as contemplated under sub-section (4) of section 54 and section 60 of the sale of goods act. under section 60, which deals with anticipatory breach of the contract, one party may accept the other's repudiation and thereby relieve himself from all obligations under ..... urged on behalf of the defendant before the trial court. but the principal contention urged by him was that section 54, sub-section (4) of the sale of goods act led to a rescission of the entire contact between the plaintiff and the defendant and, therefore, the court was incompetent to file the arbitration agreement under section ..... which mentioned that the ahmedabad mill-owners' association was to be the arbitrator. the defendant's contention based on the provisions of section 54(4) of the sale of goods act was also negatived on the ground that the resale effected by the plaintiff was under the right created in his favour by virtue of clause (17) of .....
Tag this Judgment!Court : Mumbai
Reported in : AIR2002Bom185; 2002(2)BomCR355
..... of rs. 56,532/-. in this respect, shri vhatkar, the learned advocate for the defendant relied upon the provisions of section 64-a of the sale of goods act. 1930, which reads as under :'64-a. in contracts of sale, amount of increased or decreased taxes to be added or deducted.-- (1) unless different intention appears from the terms of the contract, in the ..... per kg. was valid only up to 31-7-1974. the defendant has also referred to section 64 of the sale of goods act and contended that if the government imposes any increase or reduction in duty after a contract for sale of goods is entered into and if the contract did not disclose any contrary intention, the buyer is required to pay the increased ..... already manufactured. therefore, any increase or reduction in the excise duty after 9-7-1974 is irrelevant and section 61 of the sale of goods act has no application. the defendant was bound to supply the brass tubes at the rate of rs. 65/- per kg. and was not justified in demanding a higher rate .....
Tag this Judgment!Court : Mumbai
Reported in : [1963]14STC18(Bom)
..... we do not propose to enter into a detailed discussion as to the application of the rules contained in those sections to the present case. section 19 of the sale of goods act expressly recognises the right of the parties to make agreements for themselves relating to the transfer of property and the application of the rules contained in the said section is ..... pollock & mulla, 2nd edn., at page 185, where the learned authors while dealing with sub-section (2) of section 41 of the sale of goods act, have observed : 'the rule declared by sub-section (2) is excluded in the case of c.i.f. contract, the obligation of the seller being to tender the documents ..... before us, mr. palkhiwala sought to rely on the rule contained in section 22 of the sale of goods act in support of his submission that the property in the goods in the present case can be said to have passed only after weighment and inspection after the goods were cleared through the customs barrier at the docks, mr. mistry, on the other land, .....
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