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Judgment Search Results Home > Cases Phrase: indian partnership act 1932 chapter ii the nature of partnership Page 1 of about 341 results (0.089 seconds)

Jan 29 2016 (HC)

M/s. Amritlakshmi Machine Works and Another Vs. The Commissioner of Cu ...

Court : Mumbai

..... : - definition of partnership , partner , firm and firm name partnership is the relation between persons who have agreed to share the profits of a business carried ..... on by all or any of them acting for all. persons who have entered into partnership with one another are called individually partners and collectively a ..... in all central acts and regulations made after the commencement of this act, unless there is anything repugnant in the subject or context (1): - abet , with its grammatical variations and cognate expressions, shall have the same meaning as in the indian penal code. 42: - person shall include any company or association or body of individuals, whether incorporated or not. indian partnership act, 1932 chapter ii the nature of partnership section 4 .....

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May 29 2015 (HC)

State and Ors Vs. M/S Balaji Marble Mines and Ors

Court : Rajasthan - Jodhpur

..... . in brief, facts of the case are that m/s balaji marble mines, makrana came to be registered as a partnership firm as per provisions of the indian partnership act, 1932 (hereinafter referred to as 'the act of 1932') with m/s mukesh kumar rinva, bhanwarlal aukna, -2- bhanwarlal choudhary, rakesh kumar dhariwal and kanaram burdak as its partners.on 25.4.2009 out of five partners named ..... . learned single judge failed to appreciate that sections 64(1) and 64(2) are having different fields for operation and under section 64(1) of the act of 1932 the registrar of firms can remove the mistakes of serious nature by adopting the procedure of inquiry given under rule 13 of the rajasthan partnership rules, 1952 (hereinafter referred to as 'the rules of 1952').per ..... filed under this chapter. (2) on application made by all the parties who have signed any document relating to a firm filed under this chapter, the registrar may rectify any mistake in such document or in the record or note thereof made in the register of firms. . the authority given to the registrar under section 64(1) of the act of 1932 is quite wide ..... . the power given under sub-section(2) of section 64 of the act of 1932 can be invoked where all partners of the firm are at consensus about the mistake occurred in the document relating to the firm filed under chapter vii of the act. the mistake sought to be rectified under section 64(2) of the act must be having nature of no dispute between the parties .....

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May 29 2015 (HC)

Rakesh Dhariwal Vs. Kana Ram Burdak and Ors

Court : Rajasthan - Jodhpur

..... . in brief, facts of the case are that m/s balaji marble mines, makrana came to be registered as a partnership firm as per provisions of the indian partnership act, 1932 (hereinafter referred to as 'the act of 1932') with m/s mukesh kumar rinva, bhanwarlal aukna, -2- bhanwarlal choudhary, rakesh kumar dhariwal and kanaram burdak as its partners.on 25.4.2009 out of five partners named ..... . learned single judge failed to appreciate that sections 64(1) and 64(2) are having different fields for operation and under section 64(1) of the act of 1932 the registrar of firms can remove the mistakes of serious nature by adopting the procedure of inquiry given under rule 13 of the rajasthan partnership rules, 1952 (hereinafter referred to as 'the rules of 1952').per ..... filed under this chapter. (2) on application made by all the parties who have signed any document relating to a firm filed under this chapter, the registrar may rectify any mistake in such document or in the record or note thereof made in the register of firms. . the authority given to the registrar under section 64(1) of the act of 1932 is quite wide ..... . the power given under sub-section(2) of section 64 of the act of 1932 can be invoked where all partners of the firm are at consensus about the mistake occurred in the document relating to the firm filed under chapter vii of the act. the mistake sought to be rectified under section 64(2) of the act must be having nature of no dispute between the parties .....

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Feb 20 1969 (HC)

Ram NaraIn and Brothers Vs. Commissioner of Income-tax

Court : Allahabad

Reported in : [1969]73ITR423(All)

..... at the bar. the provisions of the indian partnership act, 1932, are based mainly on the english partnership act, 1890, and the wordings of the principal sections of the english enactment have been maintained in the indian enactment without substantial change. prior to the enactment of the indian partner-ship act, 1932, the law relating to partnership was contained in chapter xi of the indian contract act, 1872, it would appear from the report ..... .19. it would thus appear that in england transfer of the share of a partner who has right, on dissolution of the partnership, to a proportionate part of the assets thereof must be effected in such form as the nature of the assets requires. if the assets consist entirely of chattels or movable property, the transfer may be effected orally but where ..... way, business of the kind carriedon by the firm, binds the firm.the authority of a partner to bind the firm conferred by this section is called his ' implied authority '. (2) in the absence of any usage or custom of trade to the contrary, theimplied authority of a partner does not empower him to ... (g) transfer immovable property belonging to the ..... so far as the share of a partner consists of a right, on dissolution, to a proportionate part of all the assets, the nature of the assets must be considered and the transfer effected in such form as the nature of the assets requires. where the assets consist of chattelsand legal (as opposed to equitable) chooses-in-action for which no special .....

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May 29 2015 (HC)

Rakesh Dhariwal Vs. Balaji Marble Mines, Makrana and Others

Court : Rajasthan Jodhpur

..... . to question correctness of the judgment dated july 25, 2013, these appeals are preferred. 2. in brief, facts of the case are that m/s balaji marble mines, makrana came to be registered as a partnership firm as per provisions of the indian partnership act, 1932 (hereinafter referred to as 'the act of 1932') with m/s mukesh kumar rinva, bhanwarlal aukna, bhanwarlal choudhary, rakesh kumar dhariwal and ..... in the register of firms relating to any firm into conformity with the documents relating to that firm filed under this chapter. (2) on application made by all the parties who have signed any document relating to a firm filed under this chapter, the registrar may rectify any mistake in such document or in the record or note thereof made in the register ..... . learned single judge failed to appreciate that sections 64(1) and 64(2) are having different fields for operation and under section 64(1) of the act of 1932 the registrar of firms can remove the mistakes of serious nature by adopting the procedure of inquiry given under rule 13 of the rajasthan partnership rules, 1952 (hereinafter referred to as 'the rules of 1952'). 9 ..... . the power given under sub-section(2) of section 64 of the act of 1932 can be invoked where all partners of the firm are at consensus about the mistake occurred in the document relating to the firm filed under chapter vii of the act. the mistake sought to be rectified under section 64(2) of the act must be having nature of no dispute between the parties .....

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Jul 16 1985 (HC)

Commissioner of Income-tax Vs. Vijendra Pal Singh

Court : Rajasthan

Reported in : [1987]163ITR115(Raj)

..... (in the absence of agreement) after it has been dissolved.' 10. after referring to the provisions of the indian partnership act, 1932, their lordships of the supreme court in addanki narayanappa v. bhaskara krishnappa : [1966]3scr400 , brought out the nature of partnership clearly in thefollowing words (at p. 1303) :'from a perusal of these provisions, it would be abundantly clear that whatever may be the ..... income-tax officer was of the view that the transaction amounted to a sale of the petrol tanker by the assessee to the partnership firm and he calculated the profit to the assessee under section 41(2) of the act at rs. 10,002, which was added to the total income of the assessee. the assessee filed an appeal before the appellate ..... been noticed that non-recognition of the firm as a legal entity is one of the most marked differences between partnerships and incorporated companies. again in chapter 18, at page 444, the learned author has observed as under:'the expressions partnership property, partnership stock, partnership assets, joint stock, and joint estate, are used indiscriminately to denote everything to which the firm, or in other ..... business or profession of the previous year in which the money payable for the asset in question became due. thus, in order to attract the provisions of section 41(2) of the act, the building, machinery, plant or furniture should be sold, discarded, demolished or destroyed. in the present case, the assertion on behalf of the revenue is that the .....

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Feb 10 2004 (HC)

Sudarshan Chopra and ors. Vs. Company Law Board and ors.

Court : Punjab and Haryana

Reported in : 2004(2)ARBLR241(P& H); (2004)137PLR12; [2004]52SCL429(Punj& Har)

..... was clear that the company was in fact in the nature of a partnership and as such clearly subject to arbitration. in this connection he has referred to section 20 of the specific relief act, 1963 and to section 40 of the indian partnership act, 1932 as also to a judgment of the hon'ble supreme court ..... of group-a's claim was lacking. he has pointed out that as sections 397 and 398 of the companies act were part of chapter vi thereof and this chapter was a self contained code, no arbitration proceedings were permissible, he has further highlighted that as the company and the shareholders ..... entire subject matter of the suit should be subject to arbitration agreement.'39. there is yet another angle to this agreement. sub-section (2) of section 8 of the act is couched in the negative but is imperative in terms when it says that the application referred to in sub-section (1) ' ..... dispute in a case where parties to the arbitration agreement do not take appropriate steps as contemplated under sub-sections (1) and (2) of section 8 of the act.'para 15'the relevant language used in section 8 is.- 'in a matter which is the subject matter of an arbitration agreement', ..... holding 2.4% of the shares were not parties to the arbitration agreements, it could not made applicable to it. he has also pointed out that section 16 of the act .....

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Jan 22 1987 (SC)

Reserve Bank of India Vs. Peerless General Finance and Investment Co. ...

Court : Supreme Court of India

Reported in : 1987(1)SCALE100; (1987)1SCC424; [1987]2SCR1; 1987(1)LC586(SC)

..... the income of the institution is derived from the financing of purchases, constructions or sales of immovable property by other persons; (d) 'firm' means a firm as defined in the indian partnership act, 1932; (e) 'non-banking institution' means a company, corporation, (or co-operative society)17. section 45i(e) defines 'non-banking institution' as meaning 'a company, corporation, or co-operative society'. ..... regulations of the monetary and credit policies of the country, besides affording a degree of protection to the depositors' monies. the study group went into the matter in some depth. chapter vi of their report was devoted to miscellaneous non-banking companies covered by the miscellaneous non-banking companies (reserve bank) directions, 1973.24. in paragraph 6.1 of the ..... prizes; it invariably provides for a refund of the amount of subscription, less the deductions, to all the subscribers or to those who have not won prizes, depending on the nature of the scheme. clauses (i) and (ii) refer to the twin attributes of a prize chit or like scheme and not to two alternate attributes.39. our construction of section ..... concentration of wealth and means of production to the common detriment.16. in 1964, by central act no. 55 of 63 the reserve bank of india act was amended by the addition of chapter iii (b) consisting of sections 45h to 45q. the title of the chapter is 'provisions relating to non-banking institutions receiving deposits and financial institutions.' section 45i(c) defines .....

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Jul 20 1979 (HC)

Krishan Murgai Vs. Superintendence Company of India (P) Ltd.

Court : Delhi

Reported in : AIR1979Delhi232

..... to the rule were also a part of the chapter on partnership in the unamended contract act, which later became the indian partnership act, 1932. these exceptions are contained in ss. 11 (2), 36 (2) and 54 of the said act. it will be seen that the framers of the contract act wanted to state the complete law as to the ..... shankar golikari v. century spinning & ., : (1967)illj740sc ), the injunction was issued on the ground that it was restricted as to the time, the nature of employment and as to area and cannot, thereforee, be said to be too wide or unreasonable or unnecessary'.22. with respect, it may be pointed out ..... the manager of the plaintiff's business in the new delhi branch had full opportunity of knowing customers of the plaintiff. but what was the nature of the defendant's work? practically nothing is known about it. the various words used by the plaintiff describing its business are totally inadequate ..... capable of being used in more than one class of machine. the nearest approach that i can find in the evidence to anything in the nature of a trade secret is the mention of certain formulae, said to be based on the plaintiffs' experience, and to be more trustworthy than ..... . (trietel - the law of contract, fourth edn., p. 300). in herbert morris case (supra), lord parker made the following observation regarding the nature of the trade secrets which the employer in that case alleged to have been imparted to the employee:'mr. walter boldly argued that the expression trade secrets .....

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Oct 13 1982 (HC)

Baldevji Vs. Commissioner of Income-tax

Court : Chennai

Reported in : [1985]156ITR776(Mad)

..... , expressly includes a firm. this is the definition of the expression 'person' even while the income-tax act adopts the definition of a firm, without variation, from the indian partnership act 1932, vide section 2(23) of the income-tax act. there is nothing in the subject or context of section 155(5), wherein the expression 'person' occurs, which would render repugnant the application of the definition ..... , it cannot be regarded as a transfer to a 'person' within the meaning of section 155(5) of the act. an argument of this nature might easily be regarded as raising a hornet's nest, because it poses the perennial problem whether a partnership firm is, in the eye of law, a legal person. there never was a more sterile controversy in anglo ..... of changes in the constitution and the like. the framers of the indian partnership act, therefore, have accepted, in principle, the position that the firm must have some degree of personality, of continuity in its existence, in spite of internal changes. this explains the whole gamut of provisions in our partnership act in chapter v, especially relating to introduction of partners, retirement or expulsion of partner ..... such is a separate and distinct unit for purposes of assessment. sections 26, 48 and 55 of the act fully bear out this position. these provisions of the act go to show that the technical view of the nature of a partnership, under english law or indian law, cannot be taken in applying the law of income-tax.' 17. it has been held in a .....

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