Court : Andhra Pradesh
Reported in : 1999(5)ALD398; 1999(5)ALT47
..... rights and duties fictionally to a legal person, experience can also be attributed to a legal person if any of the rights of the legal person depends upon the experience it has gained through its human agency. but similar treatment cannot be extended to a no-legal person. 17. section 4 of the indian partnership act, 1932, defines the terms 'partnership','partners', 'firm' and 'firm-name'. it reads: '4. definition of 'partnership':--'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. 'partner', 'firm' and the 'firm-name':--persons who have entered into ..... partnership with one another are called individually 'partners' and collectively 'a firm', and .....Tag this Judgment!
Court : Supreme Court of India
Reported in : 2007(3)BomCR1010; 2006(14)SCALE174; 2007(1)LC0054(SC)
..... available on records. 15. what forms the property of the firm is stated in section 14 of the indian partnership act, 1932 (for short, 'the act'). it reads as under:14. the property of the firm.- subject to contract between the partners, the property of the firm includes all property and rights and interests in property originally brought into the stock of the firm, or acquired, ..... its discretionary jurisdiction under article 136 of the constitution of india.2. having regard to the provisions contained in section 17 of the partnership act, the suit was not barred by limitation.3. no question as regards applicability of section 15 of the bombay act having been raised in the written statement, nor any issue having been framed in that behalf, the same should ..... the statute apparently forbids'. thus, in brown v. duncan, it was held that a partnership of distillers was not illegal, even though one partner carried on business as a retail dealer in spirits within two miles of the distillery (contrary to the duties on sprits act 1823, sections 132, 133) and was not registered as a member of the firm in the excise ..... view to determine the said question, we may notice some other provisions of the act as well.17. rights and duties of partners. - subject to contract between the partners -after a change in the firm(a) - where a change occurs in the constitution of a firm, the mutual rights and duties of the partners in the reconstituted firm remain the same as they were immediately before the change .....Tag this Judgment!
Court : Gujarat
Reported in : 100ITR297(Guj)
..... the learned advocate of the accountable persons suffer from a serious misapprehension as regards the incidence of partnership agreement. 12. sections 14 and 15 of the indian partnership act preclude any partners from claiming any property or any specific share in any property of the firm so long as the partnership subsists and the accounts thereof are not taken. this is because of the community of interest ..... the value of the share of the deceased in the goodwill of th firm under section 5. shri patel also contended that duty is not attracted even under the provisions of section 7 of the act for three reasons, namely : (1) looking to the nature of a partner's interest in partnership assets, it cannot be said that the interest of the deceased in the goodwill ..... khushal khemgar shah v. mrs. khorshed banu, wherein it is clearly stated that the partnership act does not operate to extinguish the right in the assets of the firm of a partner who dies when the partnership agreement provides that on death the partnership is to continue (vide paragraph 4 of the report). 17. in view of this, our answer to question no. 1 is in the ..... circumstances of the case, the interest of the deceased in the firm of messrs. g. bhagwatiprasad & co. of ahmedabad was property within the meaning of the provisions of the estate duty act 2. if the answer to the above question is in the affirmative, whether, the on the facts and in the circumstances of the case, having regard to the terms of .....Tag this Judgment!
Court : Andhra Pradesh
Reported in : 2006(3)ALD317
..... firm. such property shall have to be used by the partners exclusively for the purpose of business. section 17 of partnership act adumbrates the rights and duties of the partners. it is to the effect that (a) where a change occurs in the constitution of a firm, the mutual rights and duties of the partners in the reconstituted firm remain the same as they were ..... lawful and therefore by transferring the licence, the first respondent has violated rule 11-b(2) of the rules. to appreciate this contention, a reference to some of the provisions of the partnership act has ..... renewed improperly without an affidavit and therefore, the impugned order is vitiated by improper procedure adopted by the first respondent. the learned counsel placed reliance on various provisions of the partnership act, 1932, as well as the decisions reported in m.c. chockalingam v. v. manickavasagam : 2scr143 , koratani suramma v. government of a.p. 1982 (1) alt ..... alone has apparent control over the immovable property? whether there is unity of ownership among the partners with regard to the possession as well? these questions have to be answered necessarily by referring to the indian partnership act, 1932 (the partnership act, for brevity).32. as contended by learned counsel for the petitioners, the possession of the third respondent is not .....Tag this Judgment!
Court : Kolkata
Reported in : 6ITR234(Cal)
..... firm' would suggest a change in its partners but not a change in the proportion in which the partners divide the profit. some help is obtained from the provisions of the partnership act, 1932. section 17(a) of that act says;-'subject to contract between the partners where a change occurs in the constitution of a firm, the mutual rights and duties of the partners in the re-constituted firm remain the ..... in the personnel of the firm that, is a change in the persons who are partners in the firm.in my opinion there was no change in the constitution of the firm on december 17th, 1931 within the meaning of section 26(1) of the indian income-tax act. consequently section 26(1) has no application to this particular case. the result is that the ..... during the accounting year. if section 26(1) applies then the assessee would be chargeable to tax on the basis of ..... the deed referred to was in operation during the year of assessment. the assessment was made on december 2nd, 1932.the question is whether in the facts and circumstances stated and on the true construction of section 26(1) of the indian income-tax act the assessee should be chargeable to tax on the basis of his share of the profits which he had .....Tag this Judgment!
Court : Punjab and Haryana
Reported in : 234ITR595(P& H)
..... section 4 of the indian partnership act, 1932, will apply.7. section 12 of the said act specifies the provisions in respect of the conduct of the business of the partnership. it reads as under :'12. the conduct of the business.--subject to contract between the partners,-- (a) every partner has a right to take part in the conduct of the business ; (b) every partner is bound to attend diligently to his duties ..... act, 1914, empowers the state government to prohibit the import or export of any intoxicant into or from ..... satisfy himself that the partnership is not only genuine but also a valid one. the validity of a partnership is to be decided with reference to the express provisions of the indian partnership act and other laws. even if a partnership is valid in law but it is not found to be genuine, the firm would not be entitled to registration.11. section 17 of the punjab excise ..... legal and entitled to registration.39. in addl. cit v. degaon ganga reddy g. ramakrishna and co. : 214itr650(sc) , the supreme court has recently examined a case of sub-partnership. a partnership had been formed with 17 partners, one of whom held 10 per cent. share. the lessees being the highest bidders at an auction held by the excise authority, the .....Tag this Judgment!
Court : Mumbai
Reported in : 2003(4)ALLMR1054; 2004(2)BomCR352; 2003(3)MhLj979
..... , 1983, the name of ku. shaila bhavanji shah was not registered as a partner of the suit firm. section 69 of the indian partnership act, 1932 along with maharashtra amendment reads as follows : 'section 69. effect of non-registration.--(1) no suit to enforce a right arising from a contract or conferred by this act shall be instituted in any court by or on a behalf of any person ..... of the partnership act nor sub-section (4) of the said act lay down any exception to the said sub-section by stating therein that in case of an application being made to the register (sic: registrar), the bar of sub-section (2) is diluted. 17. it will be profitable to examine the observations made in the case of bharat suryodaya mills co. ltd., ahmedabad v. ..... categorically taken a defence that the suit is not maintainable as the plaintiffs-firm is not registered under the provisions of indian partnership act. in view of this categorical averment, it was the duty of the plaintiff to supply the names of all the partners which admittedly has not been done. in this view of the matter, the provision of order 30, civil procedure code also have ..... mohatla brothers a firm, : air1969guj178 . in the said judgment, the scope of order 30 vis-a-vis section 69(2) of the partnership act is also discussed. in para 6, after considering .....Tag this Judgment!
Court : Kolkata
..... alleged expulsion of the petitioner from the firm is violative to clause 27 of the deed of partnership and section 33 of the indian partnership act, 1932; (vi) whether the partnership firm has been dissolved on delivery of notice dated 22.11.2016 of the petitioner issued under section 43 of the indian partnership act, 1932; (vii) whether the respondents are liable to pay the capital of the petitioner in the ..... registered. learned counsel tried to contend that the petitioner being a partner of the firm could not maintain ..... of the petition. (i) whether the respondents have violated the general duties of the partners in operation the business account of the firm, avoiding the petitioner, in violation of the clause 17 of the deed of partnership, wherein it has been clearly mentioned that the account shall be operated by the partners jointly; (ii) whether the respondents have misappropriated funds from the business ..... the firm avoiding the petitioner; learned counsel for the respondents took a most worthless point based on section 69 of the partnership act. it enacts that unless the firm is registered and shown to be so in the register of firms a partner does not have a right to institute a suit against the firm or any other person. admittedly, the firm is not .....Tag this Judgment!
Court : Mumbai
Reported in : (1995)126CTR(Bom)62; 217ITR537(Bom)
..... , it was observed (at page 59) : '.... it seems to us clear that a partnership-firm under the indian partnership act, 1932, is not a distinct legal entity apart from the partners constituting it and equally in law the firm as such has no separate rights of its own in the partnership assets and when one talks of the firm's property or firm's assets all that is ..... dealing with the question whether exemption under section 5(1)(iv) of the estate duty act was available in respect of a house owned by a firm in which the assessee was a partner, it was stated : 'the board are advised that a firm has no legal existence. the partnership property vests in all the partners and every partner has an interest in the property of ..... v. bhaskara krishnappa, : 3scr400 . in that case, the question for determination before the supreme court was whether a particular document by which the interest of a partner in partnership assets comprising immovable properties was also relinquished, was compulsorily registrable under section 17(1)(c) of the registration act, and it was in that context that the supreme court held that the interest of a ..... the partnership. since under section 33(1)(n) property belonging to .....Tag this Judgment!
Court : Delhi
..... . the relevant provisions of the partnership act, 1932 are as follows: section 9 general duties of partners- partners are bound to carry on the business of the firm to greatest common advantage, to be just and faithful to each other, and to render true accounts and full information of all things affecting the firm to any partner, his heir or legal representative. section 17 rights and duties of partners -after a change in ..... was only known to the defendants that the value of the capital account of the plaintiff was much higher. the defendants were under a duty to disclose the ..... shows that the defendants were very well aware that how much profit had been earned by the partnership firm and how much more sums would be allocated to each of the partners capital accounts. xxx xxx xxx xvi. it is submitted that under section 9 of the indian partnership act, the plaintiff and defendants nos. 2 to 9 were in a fiduciary relationship and this fact ..... case is that defendant no.8 was under an obligation to disclose the profit which had accrued to her share till 03.03.2006. it is true that under section 9 of indian partnership act, the partners are bound to be just and faithful to each other, and to render true accounts and fao(os) 15/2013 page 27 full information of all things affecting .....Tag this Judgment!