moment these contingencies happened,
a present obligation arose resulting in the accrual of a "debt"; the
contingent liability, under the guarantee, would ... into a debt on the happening of the contingency ie
default by HHL. As the contingent liability of the guarantor
(respondent-company) had crystallized into
reduction or even extinction of the liability,
would not have the effect of converting that liability into a
contingent liability; and
(iv) A trader computing ... which the
provision is made for the liability" and that "the liability is not a contingent
liability." The decision acknowledged that where
respondent's income on account of the warranty
being a contingent liability is not well founded. The respondent is engaged
in the business ... Court has
held that the liability on the assessee having
been imported, the liability would be an
accrued liability and would not convert into
made on account of warranty which is in the
nature of contingent liability?"
2. It further appears that at the time of admission ... made on account of
warranty which is in the nature of contingent
liability?"
2. The assessee had made provision
liability allegedly came into existence subsequently on account of
alleged transactions undertaken by the accused. Since the liability depended
on a contingency, the aforesaid cheque ... cheque in question was issued as security in respect of a contingent
liability, the complaint under Section 138 of the NI Act would
person could not escape
his liability. As such, when there is existence of debt on the date of
presentation of the cheque and the security ... cheque in question was issued as
security in respect of a contingent liability, the complaint
under Section 138 of the NI Act would
Bajaj Auto Ltd vs Western Maharashtra Development ... on 8 May, 2015
Author: B. P. Colabawalla
relation to a liability which does not exist on the
date of issuance of such a cheque, but is contingent upon future
transactions), this Court ... given as a blank signed cheque in respect of
a future/contingent liability, that by itself would not be sufficient to non suit
the complainant
inclusive of the sale amount is an accrued liability or a contingent liability?
2.1. The facts in a nutshell are as under: The appellant/ assessee
Etisalat Mauritius Limited vs Etisalat Db Telecom Pvt. Ltd . - ... on 20 February, 2015
Author: S
