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Judgment Search Results Home > Cases Phrase: indian partnership act 1932 section 17 rights and duties of partners Page 5 of about 669 results (0.254 seconds)

Mar 31 1977 (HC)

Nagaland Liquor Stores Vs. Commissioner of Income-tax, Assam.

Court : Guwahati

..... of the managing partner, abin inderjit singh, with the same rights and privileges was a stranger to the partnership and yet he had been given the power to enter into contract on behalf of the firm which was invalid in law. he was also of the view that cl. 9 of the partnership deed militated against the provisions of the indian partnership act, 1932, but did not ..... third or fourth party. the managing partner alone shall be competent to operate on ..... and privileges and rights referred in cl. 8 as extracted above. it is imported that k. singh was not to have the duties of a partner.it is also important that for the work he did not separate remunerations had been provided. by reason of the younger brother working in the place of the managing partner (no. 1 party to the partnership deed) the ..... convenient not only to read cls. 8 and 9 of the partnership deed but also notice its other provisions :"(8) duties of the managing partner : the managing partner shall be exclusively responsible for carrying out the business of the partnership and for taking all necessary decisions relating to the business of this partnership and shall not be restricted in any manner by the second or .....

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Oct 18 2019 (SC)

s.p.misra Vs. mohd.laiquddin Khan

Court : Supreme Court of India

..... decree depend on the rights litigated by the parties. in the case on hand, the original decree was obtained against the predecessor of the respondents, who was party to partnership deed. in view of death of one of the partners, the partnership itself stands dissolved statutorily, by operation of law, in view of provision under section 42(c) of the indian partnership act, 1932. when the respondents are ..... either party, their respective legal representatives shall automatically become partners in the c.a. no.3311 of 2015 11 partnership firm and they shall continue to act as partners of the firm, till the venture envisaged under ..... completion thereof; (c) by the death of a partner; and (d) by the adjudication of a partner as an insolvent.16. in the case on hand, as much as there were only two partners, the partnership itself stand dissolved, in view of death of a partner.17. it is true that as per the deed of partnership, the partners have agreed, in the event of death of ..... we are of the view that the respondents were not c.a. no.3311 of 2015 17 parties to the partnership deed and that the partnership stands dissolved, in view of death of one of the partners, the respondents have not derived the benefit of assets of the partnership firm, the decree obtained by the predecessor of the appellants, is not executable against the respondents .....

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Dec 09 1981 (TRI)

V.S. Madhusudan Dayal and Co. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Reported in : (1982)1ITD564(Delhi)

..... said order of the ito under section 184(7), the assessee-firm brought the matter by way of appeal before the aac. he went into the terms and conditions of the partnership deed and came to the conclusion that though, as required by the indian partnership act, 1932, the net profits of the partnership were to be shared by the partners, the partners shri varinder singh and shri narinder ..... expiry of time for filing the return of income under section 139, the declaration signed by the partners showing that there is no change in the constitution of the ..... even to the prejudice of the assessee.his powers are co-extensive to the powers of the ito under the act. the aac could, therefore, in the appellate proceedings take recourse to section 186(1), which according to the departmental representative, was rightly invoked by the aac, more so when there was a concession from the side of the assessee.7. we ..... arising out of the application made by the assessee under section 184(7). mr. gupta further urged that once the assessee-firm was granted registration and the assessee for a subsequent year made the requisite application as required by section 184(7) then the assessee was entitled as a matter of right to continuation of registration, provided the firm furnished before the .....

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Jul 25 1972 (HC)

Surajmal Dagduamji, Shop Vs. Shrikisan Ramkisan

Court : Mumbai

Reported in : AIR1973Bom313; (1973)75BOMLR186; 1973MhLJ190

..... behalf of the appellant.14. section 69(2) of the indian partnership act 1932, reads : 'no suit to enforce a right arising from a contract shall be instituted in any court by or on behalf of a firm against any third party unless the firm is registered and the persons suing are or have been shown in the register of firms as partners in the firm.' it ..... viz. of section 69 of the indian partnership act 1932, cannot be considered to have been instituted in good faith or with due diligence. (4) the attention of the plaintiff was drawn to the defect in his suit by the defendant by pleading in the written statement which was filed on 31st august 1961. even when the attention of the plaintiff's partner was drawn to ..... was submitted that no suit to enforce a right ..... is not necessary that the cause which prevented the former court from entertaining the suit should be a cause which was independent of and beyond the control of the plaintiff.'17. the words 'or other cause of a like nature' came to be considered by a full bench of the lahore high court in jai kishen singh v. people's bank .....

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Mar 22 1983 (HC)

Gandhi Company Vs. Krishna Glass Pvt. Ltd.

Court : Mumbai

Reported in : (1983)85BOMLR179; 1983MhLJ1036

..... the suit the necessary entry showing the said rasiklal n. gandhi as a partner has been made in the register of firms.17. it is not necessary to mention that the disability imposed by section 69 of the indian partnership act would come into play only if the suit is one to enforce a right arising from a contract and not otherwise. this aspect does not arise ..... provisions contained in section 69 of the indian partnership act. sub-sections (1) and (2) of section 69 are material for our purposes and they may now be extracted. they read as under:69. (1) no suit to enforce a right arising from a contract or conferred by this act shall he instituted in any court by or on behalf of any person suing as a, partner in a ..... certificate of registration was produced for the first time. in the circumstances the suit is liable to be dismissed on this ground alone. it is denied that the plaintiffs arc a registered partnership ..... written statement as para 14a:14.a. the defendants say and submit that the plaintiff firm of which one rasiklal n. gandhi is a partner is not registered in accordance with the previsions of section 69 of the indian partnership act, 1932. this fact came to light only at the time of hearing of the suit in february/ march, 1983, when a zerox copy of the .....

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Nov 10 2004 (HC)

Cit Vs. Badri Nath Ganga Ram

Court : Allahabad

Reported in : (2005)194CTR(All)347

..... , has nothing to do with sub-section (1) of section 30 of the indian partnership act, which provides that a minor can be admitted to the benefits of partnership. section 2(a) of the partnership act defines an 'act of a firm' means any act or omission by all the partners, or by any partner or agent of the firm, which gives rise to a right enforceable by or against the firm. ..... it will not include sharing of losses by a partner or ..... minor.the appellate commissioner while allowing the appeal lost sight of the fact that sub-sections (1) and (3) of section 30 of the indian partnership act operates in different fields.in view of the above discussions, we ..... minor was admitted not as full partner but to the benefits of partnership. the relevant para. reads as follows (page 533) :'section 30 of the indian partnership act clearly lays down that a minor cannot become a partner though with the consent of the adult partners he may be admitted to the benefit of partnership. any document which goes beyond this section cannot be regarded as valid for .....

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Sep 18 1975 (HC)

Addl. Commissioner of Income-tax, Gujarat Vs. Harjivandas Hathibhai

Court : Gujarat

Reported in : [1977]108ITR517(Guj)

..... to justify an inference that originally there was an agreement between the partners of the firm as originally constituted, that on the death of one of the partners, the firm should not stand dissolved. mr. kaji is right when he says that the provisions of section 42(c) of the indian partnership act do not require that there must be an agreement in writing ..... between the partners that, on the death of one of the partners, the firm will not stand dissolved. even if ..... of reconstitution of a firm as understood in the indian partnership act nor does it obliterate the distinction between reconstitution and dissolution. when section 187 talks of a partner ceasing to be a partner it refers to section 32 of the indian partnership act and when it talks of admission of a new partner it refers to section 31 of the indian partnership act. gulati j. emphasised the fact by restating that ..... not.' 17. with respect, the correct approach which the tribunal should have adopted was whether there being no specific agreement to the contrary as required by section 42(c) of the indian partnership act, from the facts and circumstances of the case an inference can be drawn that there must have been an agreement between the surviving partners and the deceased partner that in .....

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Feb 27 1980 (HC)

Hukmi Chand Vs. Jaipur Ice and Oil Mills Co. and ors.

Court : Rajasthan

Reported in : AIR1980Raj155; 1980()WLN200

..... agreement in restraint of trade is reasonable or not, we will like to deal with the law codified in section 27 of the indian contract act, 1872 (hereinafter referred to as the contract act) and sections 36, 54 and 55 of the indian partnership act, 1932 (hereinafter referred to as the partnership act).section 27 -- agreement in restraint of trade void. -- every agreement by which any one is restrained from exercising ..... business similar to that of the firm within a specified period or within specified local limits; and notwithstanding anything contained in section 27 of the indian contract act, 1872, such agreement shall be valid if the restrictions imposed are reasonable. section 54 -- partnership act.partners may, upon or in anticipation of the dissolution of the firm, make an agreement that some or all of them ..... limits' and the duration of the restraint is so long as the buyer or any person deriving title to the goodwill from him carries on the like business. under section 36(1) of the partnership act, an outgoing partner has a right to carry on a business competing with that of the firm, and to use the firm name, but under subsection (2) of ..... define a contract in restraint of trade as being one which is designed to restrict competition, although it must be admitted that there is no judicial authority for this formulation,17. the law concerning restraint of trade has also changed from time to time, both in form and in spirit, in response to changes in conditions of trade. (anson' .....

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Jun 25 1968 (HC)

Commissioner of Income-tax Vs. Janab N. Hyath Batcha Sahib

Court : Chennai

Reported in : [1969]72ITR528(Mad)

..... clause 6 of the partnership agreement unmistakably indicates that the lorries of the ..... advances made by a partner and the capital contributed by him, for purposes of settlement of accounts between partners at dissolution and in the matter of settlement of priorities of rights and liabilities.6. ..... view to make profit. section 4 of the indian partnership act makes this explicit and says that a ' 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. this relationship does not appear to cloud or destroy the identity of the partners whose rights and liabilities vis-a- ..... and adjustment of the rights of the partners in a dissolved firm is not a transfer, nor it is for a price. '5. in principle what applies to dissolution equally applies to the earlier stage of formation of partnership and handing over of assets to the firm by one or more of its members. section 48 of the indian partnership act makes a distinction between .....

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Jan 11 1980 (HC)

P.N. Sarmah Vs. Commissioner of Income-tax

Court : Guwahati

..... ) a minor cannot be a partner in a firm, but with the consent of all the partners he may be admitted to the benefits of the partnership--vide section 30(1); (b) such a minor has the right to a share of the property ..... intention to remain as a partner deriving benefits of partnership on and from september 1, 1967, to october 31, 1967 what would be the consequence if ' such a person ' does not express, on attaining majority or on obtaining knowledge that he had been admitted to the benefits of partnership all these consequences are expressed in section 30 of the indian partnership act, 1932. section 30 lays down that : (a ..... that the firm was not in existence. a firm is said to be not in existence if, (a) it was a bogus and not a genuine one, or (b) in law the constitution of the partnership was ..... to the benefits of partnership is a partner under the i.t. act. section 2(23) is designed to confer equal benefits on the minor by treating him as the partner, but it does not render a minor a competent and full-fledged partner. for that purpose, apart from the definition contained in the i.t. act, the law of partnership must be considered. 17. there is no finding .....

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