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Larsen & Toubro Limited vs Sanghi Industries Limited on 25 February, 2022 Author: Adarsh Kumar

dealt contingent contract as defined in the Indian Contract Act, 1872 . We have gone through the said judgement and find that a contract which ... future uncertain event cannot be enforced by law unless and until that event has happened. If the event becomes impossible/uncertain such contract becomes void

being a prudent business man the assessee entered into foreign currency forward contract in respect of receivable / payable from its exports / import orders in order ... 2015. V. Vinodkumar Diamonds P. Ltd.. - 12 - uncertain forward contracts were restated at the yearend applying the closing rate of the foreign currency and gain

acts, as the number of service calls during the contract period is uncertain and cannot be predetermined. At the same time, the services are rendered ... completion method except for certain service contracts, and that the contract revenue shall include retention money, and contract cost shall not be reduced by incidental

Civil Court for specific performance of contract which is still pending and hence his complaint is not maintainable. 7. The learned Advocate of the appellants ... held that if the terms of the contract are vague and uncertain, the contract itself is void and un enforceable

Civil Court for specific performance of contract which is still pending and hence his complaint is not maintainable. 7. The learned Advocate of the appellants ... held that if the terms of the contract are vague and uncertain, the contract itself is void and un enforceable

contract subject to happening of the stated event(s). 8 "31. ‗Contingent Contract' defined - A ‗contingent contract' is a contract ... contracts become void. 33. Enforcement of contracts contingent on an event not happening - Contingent contracts to do or not to do anything if an uncertain

M/S. Modi Industries Ltd,, Uttar ... vs Dcit, New Delhi on 24 August, 2017 INCOME

crores.During the assessment proceedings,the AO found that assessee got a contract from IOC,in Panipat Naptha Cracker Unit, that it had claimed anticipated ... cases,that in the case under consideration contract was yet to be executed, that the losses were uncertain.He disallowed the claim made

last date of the relevant previous year, the forward contract was subsisting and was not settled. The Assessee as on the last date ... existing liabilities and assets. Future sales were uncertain and hedging such future sales through forward contracts was purely a speculative transaction. Loss not arising