...Shah, J.— The respondent, a public limited company, carried on in the relevant years of account business of insurance — life and general. In each of the calendar years 1944 to...1948 relating to Assessment Years 1945-46 to 1950-51, the Company suffered loss in the life insurance section, and made profit in the general insurance section. Till Assessment Year 1950-51 the loss...suffered in the life insurance section was allowed by the Revenue Authorities to be carried forward and set off under Section 24(2) of the Indian Income Tax Act, 1922, against profits from the general...

...and sustained a claim under a policy of life insurance. This decision has been upheld in revision by Ncdrc. The insurer is hence in appeal.2. On 10-7-2009, the spouse of the...previously applied for life insurance cover, critical illness cover or accident benefit cover. This query was answered in the negative. Item 17 of the proposal form required a disclosure of...query as to whether he was currently insured for a cover of life insurance, critical illness or accident benefit in the negative. On the details of other insurance covers held by him, the proposer...

...1. A question of considerable importance for holders of life insurance policies has arisen in this first appeal arising out of a suit instituted by the widow and minor son of a policy.... 2. The facts are not in dispute. One Surendra Atmaram Panchal took a life insurance policy on his life on October 20, 1970. The policy was issued by the Life Insurance Corporati...the contention of the plaintiffs that a person who is named as a nominee in a life insurance policy under section 39 has a mere right to collect the money from the insurer and no more. The view has...

...Government under Section 4 of the Land Acquisition Act were valid. The appellant in all the appeals is the Patna Improvement Trust but in all the four appeals the respondents are different persons...certiorari by the High Court of Patna and against that judgment and order the Patna Improvement Trust has brought these appeals by special leave.3. In order to determine the...matters connected there with and Section 3 therein vests in the Improvement Trust the duty of carrying out the provisions of the Bihar Act in any local area. Chapter III deals with improvement schemes...

..., the object of the appellant-trust is education, while the stand of Mr Sharma on behalf of the Revenue is that not education but the last mentioned category in Section 2(15) viz. the advancement of any...other object of general public utility, is the object of the appellant trust. The reason for the above divergence in the stands of Mr Palkhiwala and Mr Sharma is that according to Mr Palkhiwala, the..., according to Mr Palkhiwala, be held to be for a public purpose as defined in Section 2(15) of the Act. In such an event, it would be immaterial whether the object of the trust involves or does not...

...policy.”34. The argument raised by Shri Malhotra is that since the goods were held in trust by the cold store, the Insurance Company is not liable. We are not...”. The loan was advanced by the Bank to each one of the farmers on security of the agricultural produce stored in the cold store. The cold store was insured with United India Insurance Company Ltd...., hereinafter referred to as “the Insurance Company”. A fire took place in the cold store on the night intervening 13-1-2014 and 14-1-2014. The entire building of the cold store and the entire stock of...

...Union Life Insurance Society in the name of the trustees but on the life of Harvey under which £ 720 per annum were payable to Harvey for life from the date of his superannuation. It was also provided...in the deed that notwithstanding the main clause the trustees would, if so desired by the assessee Company, take out instead a deferred longest life policy, with the said Insurance Company, in their...Insurance Company or another Insurance Company of repute. The other conditions of the deed of trust need not be considered, because they do not bear upon the controversy.3. In...

...premium for a Keyman Insurance Policy obtained by the firm on the life of its partner must be regarded as expenditure incurred wholly and exclusively for the business of the firm. In holding thus, the...a policy taken by a person on the life of an employee, but also extends to an insurance policy taken with respect to the life of another who is connected in any manner whatsoever with the business of...which are received under a life insurance policy are not included in the computation of the total income of a person for a previous year. However, any sum received under a Keyman Insurance Policy is to be...

...short “the Act”), which places restrictions on the right of the insurer to call in question a life insurance policy on the ground of misstatement after a particular period, has no application on the...facts at hand, inasmuch as the said provision applies only in a case of life insurance policy. The present case relates to a mediclaim policy, which is entirely different from a life insurance policy....18. A mediclaim policy is a non-life insurance policy meant to assure the policy-holder in respect of certain expenses pertaining to injury, accidents or...

...that went against them.3. Shri Harish Salve, learned Senior Counsel for LIC contended that on acceptance of the proposals by the insurer in life insurance business, the...constitutional obligations. It is next contended that life insurance policies are framed on actuarial considerations and worked out as per the needs of the policy to suit the interests of all those interested in...term policy. Age was extended from 45 to 50 years. Similarly the respondent, though is doing life insurance business, its policies must be in conformity with the rights in Parts III and IV of the...

...the Motor Vehicles Act, 1939, the money received by the appellants on account of life insurance policy of the deceased is deductible or not, which has been done in the present case through the impugned...sets of decisions of the various High Courts in India. One set holding that life insurance money received by the heirs ought to be deducted and the other set holding not to deduct from the compensation..., the contention therein was that the amount received towards life insurance policy is the pecuniary advantage received by the claimants by reason of the death hence liable to be deducted in terms of...

...Life Insurance Corpn. of India v. Escorts Ltd. (1986) 1 SCC 264, 1985 Supp 3 SCR 909, ...that the eviction of the appellant was only in pursuance of a policy of the Port Trust to let out a reconstituted plot to the person who occupied the major portion and who could use it for development.... It was urged that the decision of the Port Trust to allot the entire plot to M/s Dhanji Mavji to the exclusion of the appellant (although the appellant was also the existing tenant and in occupation...

...facilitated the accused no. 1 to use her bank accounts to siphon the university funds, thereby, assisting the accused no. 1 in the activity connected with the proceeds of crime. By the impugned judgment...or knowingly is a party or is actually involved in any process or activity connected with the proceeds of crime including its concealment, possession, acquisition or use and projecting or claiming it...involved in one or more of the following processes or activities connected with proceeds of crime, namely:—(a) concealment; or(b) possession; or...

...the Port Trust in reply to a query by the Land Acquisition Officer, clarified vide his letter dated 19-12-1985 that actual and physical possession of the land was not taken by the Port Trust as the...tenant did not vacate possession of the land. It appears that in view of the above letter that physical possession of land was not with the Port Trust Authorities, the Special Officer and Competent...required to be computed in the holdings of the declarants even if it was admitted by the Port Trust Authorities that they were in possession of the land in 1972. The landowners submitted the reply to...

...or in the way of his business as a banker, merchant, factor, broker, attorney or agent, commits criminal breach of trust in respect of that property, shall be punished with imprisonment for life, or...under s. 107 of the Insurance Act had been obtained. Sanction was thereafter obtained and a fresh complaint was filed against the respondents under s. 105 of the Insurance Act. The trial ended in an...that in spite of the presence of certain common elements between the two, the offences under S. 409 of the Indian Penal Code and S., 105 of the Insurance Act are distinct in their ingredients, content...

...), or(ii) accumulate the contributions in respect of each beneficiary and purchase an annuity from the said Life Insurance Corporation of India at the time of...retires, all accumulated contributions in respect of the employee concerned made by the employer to the pension fund of the trust are utilised for the purpose of purchasing an annuity from the Life...safeguard the moneys deposited in the superannuation fund and to secure to the annuitant the annuity amount. Undoubtedly, Rule 89 requires the trustees to purchase an annuity from the Life Insurance...

...United Kingdom. It is a mutual association of shipowners. It offers insurance cover in respect of the vessels entered with it for diverse third-party risks associated with the operation and trading of...respondents in the sum of US $ 1,18,194.89 together with interest at the rate of 12% per annum, which was the unpaid insurance premium amount due to the Club and payable by the 2nd respondent; and...prerequisite for bringing an action in rem. Insurance is meant primarily as a means of indemnifying and protecting the vessel-owner against the loss of his vessel and/or claims that may arise as a...

...submissions made on behalf of the parties, the issue that arises for consideration and decision in this appeal is whether the Trust — Sai Publication Fund, which has been set up by some devotees of Saibaba...appeal in brief, are that the assessee (the respondent herein) is a trust created by four devotees of Saibaba of Shirdi under a trust deed dated 6-8-1984. The object of the Trust is to spread message...Publications” which are available to the devotees of Saibaba on nominal charge to meet the cost. The sale proceeds of such publication goes to the Trust and forms part of the property of the Trust, which...

...employee receives a personal injury in a motor accident arising out of and in the course of his employment while working on the motor vehicle of the employer, whether the insurance company, which has...Division Bench of the Karnataka High Court in the case of Oriental Insurance Co. Ltd. v. Raju...Oriental Insurance Co. Ltd. v. Hasmat Khatoon 1989 ACJ 862 (Del) has also fallen in line. While on the other hand a learned Single Judge of the Gauhati ...