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AO cannot re-open assessment merely for non filing of ITR unless the total income is exceeding maximum amount which is not chargeable to tax    *    GLOW SIGN AND HOARDING    *    Service tax exemption for transportation of life saving medicines    *    Regarding cenvat credit on service tax on rent a cab    *    Applicability Of Service tax on Liquidated Damages    *    Potato Chips as Namkeen    *    Central Excise Exemption of ₹ 150 Lakhs    *    Cenvat credit on water treatment plant    *    CENVAT CREDIT    *    Cenvat Credit - refund - export of services - The registration is not the sole criteria for granting refund, so long the other conditions are satisfied, refund shall be granted - Tri    *    CENVAT credit demo cars capital goods input nothing is demonstrated today that a demo car falls in any of the Chapters dealing with capital goods - credit cannot be allowed - Tri    *    Period of limitation - in case duty was required to be paid on the strips, the appellant was entitled to avail credit of duty paid on the granules, which would have neutralized the entire demand on the strips - in this Revenue neutrally background, there could be no malafide on the part of the appellant to evade duty - Tri    *    Validity of statutory provisions - Imposition of penalty on company and directors - he legislature while in view of such situation has granted discretion to the executive, at the same time, provided for sufficient guidelines and safeguards so that such discretion does not convert into arbitrary or discretionary exercise of powers - HC    *    Strengthening Our Debt Markets (Dr. Raghuram G. Rajan, Governor - August 26, 2016 - at Annual Day Address to Foreign Exchange Dealers Association of India, Mumbai)    *    Violation of Clause 49 of the Listing Agreement - whole Time Director chaired the Audit Committee Meeting - levy of penalty of ₹ 5 lac cannot be said to unreasonable or excessive - SAT    *    Tribunal was right in confirming the set-off of MAT Credit under Section 115JAA brought forward from earlier years against tax on total income including surcharge and education cess instead of adjusting the same from tax on total income before charging such surcharge and education cess - HC    *    TDS liability - period of limitation - It is true that the Court cannot legislate the Act, however, the Assessing Officer also cannot be given unfettered powers, which he can exercise even beyond the reasonable period of four years. - HC    *    Waiver or reduction of interest - Application u/s 220(2A) - It has also to be verified whether the default in payment of the amount was due to the circumstances beyond the control of the assessee and the assessee has cooperated with the enquiry. - CIT to reconsider the matter - HC    *    Merchandise Exports from India Scheme (MEIS) - Addition in Table 2 [containing ITC (HS) code wise list of products with reward rates] of Appendix 3B    *    Depreciation (while claiming deduction u/s.80IA) is optional to the assessee and that once the assessee chooses not to claim it, the AO cannot allow while computing the income. - HC    *    Streamlining the process of No Objection Certificate (NOC), Port Clearance Certificate (PCC), voyage return and voyage assessment in the case of Foreign Shipping Companies (FSCs)
Allied Laws
Home Acts & Rules Allied Laws Act Indian Contract Act, 1872 Chapters List

Indian Contract Act, 1872

 
PRELIMINARY
Section 1 : Short title
Section 2 : Interpretation clause
Chapter: I
OF COMMUNICATION, ACCEPTANCE AND REVOCATION OF PROPOSALS
Section 3 : Communication, acceptance and revocation of proposals
Section 4 : Communication when complete
Section 5 : Revocation of proposals and acceptances
Section 6 : Revocation how made
Section 7 : Acceptance must be absolute
Section 8 : Acceptance by performing conditions, or receiving consideration
Section 9 : Promises, express or Implied
Chapter: II
OF CONTRACTS, VOIDABLE CONTRACTS AND VOID AGREEMENTS
Section 10 : What agreements are contracts
Section 11 : Who are competent to contract
Section 12 : What is a sound mind for the purposes of contracting
Section 13 : "Consent" defined
Section 14 : "Free consent" defined
Section 15 : "Coercion" defined
Section 16 : "Undue influence" defined
Section 17 : "Fraud" defined
Section 18 : "Misrepresentation" defined
Section 19 : Voidability of agreements without free consent
Section 19A : Power to set aside contract induced by undue influence
Section 20 : Agreement void where both parties are under mistake as to matter of fact
Section 21 : Effect of mistakes as to law
Section 22 : Contract caused by mistake of one party as to matter of fact
Section 23 : What considerations and objects are lawful and what not
Chapter: IIa
Void agreements
Section 24 : Agreements void, if Considerations and objects unlawful in part
Section 25 : Agreement void, if made without consideration
Section 26 : Agreement in restraint of marriage void
Section 27 : Agreement in restraint of trade void
Section 28 : Agreements in restraint of legal proceedings void
Section 29 : Agreements void for uncertainty
Section 30 : Agreements by way of wager void
Chapter: III
OF CONTINGENT CONTRACTS
Section 31 : "Contingent contract" defined
Section 32 : Enforcement of contracts contingent on an event happening
Section 33 : Enforcement of contracts contingent on an event not happening
Section 34 : When event on which contract is contingent to be deemed impossible, if it is the future conduct of a living person
Section 35 : When contracts become void which are contingent on happening of specified event within fixed time.
Section 36 : Agreements contingent on impossible events void
Chapter: IV
OF THE PERFORMANCE OF CONTRACTS (Contracts which must be performed)
Section 37 : Obligation of parties to contracts
Section 38 : Effect of refusal to accept offer of performance
Section 39 : Effect of refusal of party to perform promise wholly
Chapter: IVa
By whom contracts must be performed
Section 40 : Person by whom promise is to be performed
Section 41 : Effect of accepting performance from third person
Section 42 : Devolution of Joint liabilities
Section 43 : Any one of Joint promisors may he compelled to perform
Section 44 : Effect of release of one Joint promisor
Section 45 : Devolution of Joint rights
Chapter: IVb
Time and place for performance
Section 46 : Time for performance of promise, where no application is to be made and no time is specified
Section 47 : Time and place for performance of promise, where time is specified and no application to be made
Section 48 : Application for performance on certain day to be at proper time and place
Section 49 : Place for performance of promise, where no application to be made and no place fixed for performance
Section 50 : Performance in manner or at time prescribed or sanctioned by promisee
Chapter: IVc
Performance of reciprocal promises
Section 51 : Promisor not bound to perform unless reciprocal promisee ready and willing to perform
Section 52 : Order of performance of reciprocal promises
Section 53 : Liability of party preventing event on which the contract is to take effect
Section 54 : Effect of default as to that promise which should be first performed, in contract consisting of reciprocal promises
Section 55 : Effect of failure to perform at fixed time, in contract in which time is essential
Section 56 : Agreement to do impossible act
Section 57 : Reciprocal promises to do things legal, and also other things illegal
Section 58 : Alternative promise, one branch being illegal
Chapter: IVd
Appropriation of payments
Section 59 : Application of payment where debt to be discharged is Indicated
Section 60 : Application of payment where debt to be discharged is not indicated
Section 61 : Application of payment where neither party appropriates
Chapter: IVe
Contracts which need not be performed
Section 62 : Effect of novation, rescission and alteration of contract
Section 63 : Promisee may dispense with or remit performance of promise
Section 64 : Consequences of rescission of voidable contract
Section 65 : Obligation of person who has received advantage under void agreement or contract that becomes void
Section 66 : Mode of communicating or revoking rescission of voidable contract
Section 67 : Effect of neglect of promisee to afford promisor reasonable facilities for performance
Chapter: V
OF CERTAIN RELATIONS RESEMBLING THOSE CREATED BY CONTRACT
Section 68 : Claim for necessaries supplied to person incapable of contracting, or on his account
Section 69 : Reimbursement of person paying money due by another in payment of which he is interested
Section 70 : Obligation of person enjoying benefit of non-gratuitous act
Section 71 : Responsibility of finder of goods
Section 72 : Liability of person to whom money is paid, or thing delivered by mistake or under coercion
Chapter: VI
OF THE CONSEQUENCES OF BREACH OF CONTRACT
Section 73 : Compensation for loss or damage caused by breach of contract
Section 74 : Compensation for breach of contract where penalty stipulated for
Section 75 : Party rightfully rescinding contract entitled to compensation
Chapter: VII
CHAPTER VII, COMPRISING SECTIONS 76-123, IS REPEALED BY THE SALE OF GOODS ACT (3 OF 1930), SECTION 65
Section 76 to 123 : CHAPTER VII, COMPRISING SECTIONS 76-123, IS REPEALED BY THE SALE OF GOODS ACT
Chapter: VIII
OF INDEMNITY AND GUARANTEE
Section 124 : "Contract of indemnity" defined
Section 125 : Rights of indemnity-holder when sued
Section 126 : "Contract of guarantee", "surety", "principal debtor" and "creditor"
Section 127 : Consideration for guarantee
Section 128 : Surety's liability
Section 129 : Continuing guarantee
Section 130 : Revocation of continuing guarantee
Section 131 : Revocation of continuing guarantee by surety's death
Section 132 : Liability of two persons, primarily liable, not affected by arrangement between them that one shall be surety on other's default
Section 133 : Discharge of surety by variance in terms of contract
Section 134 : Discharge of surety by release or discharge of principal debtor
Section 135 : Discharge of surety when creditor compounds with, gives time to, or agrees not to sue, principal debtor
Section 136 : Surety not discharged when agreement made with third person to give time to principal debtor
Section 137 : Creditor's forbearance to sue does not discharge surety
Section 138 : Release of one co-surety does not discharge others
Section 139 : Discharge of surety by creditor's act or omission impairing surety's eventual remedy
Section 140 : Rights of surety on payment or performance
Section 141 : Surety's right to benefit of creditor's securities
Section 142 : Guarantee obtained by misrepresentation invalid
Section 143 : Guarantee obtained by concealment invalid
Section 144 : Guarantee on contract that creditor shall not act on it until co-surety joins
Section 145 : Implied promise to indemnify surety
Section 146 : Co-sureties liable to contribute equally
Section 147 : Liability of co-sureties bound in different sums
Chapter: IX
OF BAILMENT
Section 148 : "Bailment","bailor"and"bailee"defined
Section 149 : Delivery to bailee how made
Section 150 : Bailor's duty to disclose faults in goods bailed
Section 151 : Care to be taken by bailee
Section 152 : Bailee when not liable for loss, etc., of thing bailed
Section 153 : Termination of bailment by bailee's act inconsistent with conditions
Section 154 : Liability of bailee making unauthorised use of goods bailed
Section 155 : Effect of mixture, with bailor's consent, of his goods with bailee's
Section 156 : Effect of mixture, without bailor's consent, when the goods can be separated
Section 157 : Effect of mixture, without bailor's consent, when the goods cannot be separated
Section 158 : Repayment by bailor of necessary expenses
Section 159 : Restoration of goods lent gratuitously
Section 160 : Return of goods bailed on expiration of time or accomplishment of purpose
Section 161 : Bailee's responsibility when goods are not duly returned
Section 162 : Termination of gratuitous bailment by death
Section 163 : Bailor entitled to increase or profit from goods bailed
Section 164 : Bailor's responsibility to bailee
Section 165 : Bailment by several Joint owners
Section 166 : Bailee not responsible on redelivery to bailor without title
Section 167 : Right of third person claiming goods bailed
Section 168 : Right of finder of goods; may sue for-specific reward offered
Section 169 : When finder of thing commonly on sale may sell it
Section 170 : Bailee's particular lien
Section 171 : General lien of bankers, factors, wharfingers, attorneys and policy-brokers
Chapter: IXa
Bailment of pledges
Section 172 : "Pledge", "pawnor" and "pawnee" defined
Section 173 : Pawnee's right of retainer
Section 174 : Pawnee not to retain for debt or promise other than that for which goods pledged. Presumption In case of subsequent advances
Section 175 : Pawnee's right as to extraordinary expenses incurred
Section 176 : Pawnee's right where pawnor makes default
Section 177 : Defaulting pawnor's right to redeem
Section 178 : Pledge by mercantile agent
Section 178A : Pledge by person in possession under voidable contract
Section 179 : Pledge where pawnor has only a limited interest
Chapter: IXb
Suits by bailees or bailors against wrong doers
Section 180 : Suit by bailor or bailee against wrong-doer
Section 181 : Apportionment of relief or compensation obtained by such suits
Chapter: X
AGENCY (Appointment and Authority of agents)
Section 182 : "Agent" and "principal" defined
Section 183 : Who may employ agent
Section 184 : Who may be an agent
Section 185 : Consideration not necessary
Section 186 : Agent's authority may be express or implied
Section 187 : Definitions of express and implied authority
Section 188 : Extent of agent's authority
Section 189 : Agent's authority in an emergency
Chapter: Xa
Sub-agents
Section 190 : When agent cannot delegate
Section 191 : "Sub-agent" defined
Section 192 : Representation of principal by sub-agent properly appointed
Section 193 : Agent's responsibility for sub-agent appointed without authority
Section 194 : Relation between, principal and person duly appointed by agent to act in business of agency
Section 195 : Agent's duty in naming such person
Chapter: Xb
Ratification
Section 196 : Right of person as to acts done for him without his authority. Effect of ratification
Section 197 : Ratification may be expressed or implied
Section 198 : Knowledge requisite for valid ratification
Section 199 : Effect of ratifying unauthorized act forming part of a transaction
Section 200 : Ratification of unauthorized act cannot injure third person
Chapter: Xc
Revocation of authority
Section 201 : Termination of agency
Section 202 : Termination of agency, where agent has an interest in subject-matter
Section 203 : When principal may revoke agent's authority
Section 204 : Revocation where authority has been partly exercised
Section 205 : Compensation for revocation by principal, or renunciation by agent
Section 206 : Notice of revocation or renunciation
Section 207 : Revocation and renunciation may be expressed or implied
Section 208 : When termination of agent's authority takes effect as to agent, and as to third persons
Section 209 : Agent's duty on termination of agency by principal's death or insanity
Section 210 : Termination of sub-agent's authority
Chapter: Xd
Agents duty to Principal
Section 211 : Agent's duty in conducting principal's business
Section 212 : Skill and diligence required from agent
Section 213 : Agent's accounts
Section 214 : Agent's duty to communicate with principal
Section 215 : Right of principal when agent deals, on his own account, in business of agency without principal's consent
Section 216 : Principal's right to benefit gained by agent dealing on his own account in business of agency
Section 217 : Agent's right of retainer out of sums received on principal's account
Section 218 : Agent's duty to pay sums received for principal
Section 219 : When agent's remuneration becomes due
Section 220 : Agent not entitled to remuneration for business misconducted
Section 221 : Agent's lien on principal's property
Chapter: Xe
Principal's duty to agent
Section 222 : Agent to be Indemnified against consequences of lawful acts
Section 223 : Agent to be indemnified against consequences of acts done in good faith
Section 224 : Non-liability of employer of agent to do a criminal act
Section 225 : Compensation to agent for injury caused by principal's neglect
Chapter: Xf
Effect of agency on contract with third persons
Section 226 : Enforcement and consequences of agent's contracts
Section 227 : Principal how for bound, when agent exceeds authority
Section 228 : Principal not bound when excess of agent's authority is not separable
Section 229 : Consequences of notice given to agent
Section 230 : Agent cannot personally enforce, nor be bound by, contracts on behalf of principal
Section 231 : Rights of parties to a contract made by agent not disclosed
Section 232 : Performance of contract with agent supposed to be principal
Section 233 : Right of person dealing with agent personally liable
Section 234 : Consequence of inducing agent or principal to act on belief that principal or agent will be held exclusively liable
Section 235 : Liability of pretended agent
Section 236 : Person falsely contracting as agent not entitled to performance
Section 237 : Liability of principal inducing belief that agent's unauthorized acts were authorized
Section 238 : Effect, on agreement, of misrepresentation or fraud by agent
 
 
 
 
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