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Judgment Search Results Home > Cases Phrase: indian partnership act 1932 section 17 rights and duties of partners Year: 1969 Page 1 of about 9 results (0.085 seconds)

Dec 19 1969 (HC)

Seth Sobhag Mal Lodha and ors. Vs. Edward Mills Co. Ltd. and ors.

Court : Rajasthan

Decided on : Dec-19-1969

Reported in : [1972]42CompCas1(Raj); 1969()WLN498

..... partnership business. under section 69 of the indian partnership act, 1932, no suit could have been instituted unless the partnership was registered. section 69 of the indian partnership act, 1932, runs as follows :' (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 behalf of any person suing as a partner ..... section 69 of the partnership act stood in the way of filing the suit without the registration of the firm.8. that in the balance-sheet a sum of rs. 2,015-6-6, as a moiety of the commission from january 11, 1942, is credited to seth gadh mal and the same amount to seth motilal. similarly from january 17 ..... the instigation of motilal, defendant no. 2, and the members of his family created pandemonium and obstructed the secretary from discharging his duties. they also wanted to remove seth sobhag mal lodha forcibly from the chair. thereupon mr. lodha dissolved the meeting and he and ..... vide annexure 'a '. on the death of gadh mal occurring on january 11, 1942, the board of directors passed a resolution on january 17, 1942, appointing seth sobhag mal in his place till the appointment was duly made by the extraordinary general meeting of the company. thereafter, notice ..... .8. gadh mal died on january 11, 1942. the board of directors of the company appointed seth sobhag mal lodha on january 17, 1942, in place of seth gadh mal, deceased, as chairman and managing director of the company. this appointment was temporary and .....

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Jan 09 1969 (HC)

V.M. Nissar Ahmed and ors., Minors by Guardian and Next Friend V.C. Ab ...

Court : Chennai

Decided on : Jan-09-1969

Reported in : (1970)1MLJ512

..... section 44 (g) of the indian partnership act of 1932 provides for the court, at the suit of a partner ..... exclusive rights to ..... the partnership not ..... a partner, ..... partners ..... exclusive right of ..... in partnership. ..... partnership ..... a partner in ..... partners who ..... partnership ..... no rights in ..... has no rights therein. if ..... rights ..... partner. ..... the partnership, ..... rights of the other partners ..... partner, and a fresh partnership ..... partner, if he should survive the other two partners ..... partner of the ..... partnership should be dissolved. the partnership should ..... partnership ..... partners and the partnership will come to an end as soon as one partner relinquishes his right ..... partnership ' must be clearly inconsistent with the general right ..... partnership ..... partnership are assets of the partnership shared by the deceased partner under whom the appellants claim and the other partner ..... indian partnership act of 1932. they may be distinguished as there was no provision as to notice in the repealed chapter of the contract act relating to partnership ..... partnership at will does not amount to notice of dissolution of the partnership ..... partner should join in the firm that would be continued by the remaining partners ..... rights therein. in fact, as pointed out earlier, he has preferred no appeal claiming exclusive rights ..... law. sailendra nath kumar v. chillar ram i.l.r. (1951) 2 col. 140, a case subsequent to the indian partnership act of 1932 ..... partner could specifically enforce the covenant in the partnership deed providing for their being taken in as partners .....

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Dec 05 1969 (HC)

R.M. Chidambaram Pillai and anr. Vs. Commissioner of Income-tax, Madra ...

Court : Chennai

Decided on : Dec-05-1969

Reported in : AIR1970Mad497; [1970]77ITR494(Mad)

..... upon the firm as a kind of a body distinct from its members and capable in its right of owning property and entering into dealings and creating rights and liabilities binding on the partners. but in law that clearly is not the position. the indian partnership act by section 4, defines 'partnership' as 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 and that such persons collectively are called a firm ..... supported not only by the relative provisions of the income-tax act, but is in accord with the basic principles of the partnership law.3. a firm, partner and partnership, says section 2(6b), have the same meanings respectively as in the indian partnership act and the expression 'partner' included a minor admitted to the benefits of the partnership. for purpose of charge of income-tax a firm like other .....

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Feb 20 1969 (HC)

Ram NaraIn and Brothers Vs. Commissioner of Income-tax

Court : Allahabad

Decided on : Feb-20-1969

Reported in : [1969]73ITR423(All)

..... even for the purpose of its business, is hardly tenable. such ownership is clearly postulated in section 14 of the indian partnership act 1932, which runs thus:'14. 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, by purchase ..... indian partnership act, quoted above, becomes imperative. in point of fact, conversion of firm's property into personal property of the partners involves a declaration that the interest of the firm in the property is extinguished and that thenceforward the property would belong to the partners in their individual capacity according to their shares in the firm. such a declaration falls within the purview of section 17 ..... (1)(b) of the indian registration act and the instrument of conversion must be registered.22. although, as we have ..... over by leach c.j., that the statement was an instrument which declared the rights in the properties from the date of dissolution of the partnership and, therefore, required registration under section 17 of the indian registration act.23. in the instant case, the partners have devised a rather over-simplifiedmethod of transferring the immovable property in question, purchased .....

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Sep 16 1969 (HC)

Addepally Nageswara Rao and Brothers Vs. Commissioner of Income-tax

Court : Andhra Pradesh

Decided on : Sep-16-1969

Reported in : [1971]79ITR306(AP)

..... ) this firm will be dissolved by the issue of notice by the dissident partner declaring his dissent to be partner. (8) ...... (9) for the conduct of the affairs of the firm (and) for defining the rights and liabilities of the partnership as well as for dissolution, the current provisions of the indian partnership act, 1932, will apply. 1. (signed) addepalli nageswararao.2. (signed) addepalli nageswararao.3. ( ..... as he continues as a partner drawing the benefits of the partnership, he cannot sue the partners for an account or payment of his share of the property or profits of the firm. he can ask for these reliefs only at the time when he wants to sever his connection with the partnership firm.17. section 32 of the partnership act which relates to the retirement ..... of a partner refers only to a ..... case of a partner. likewise under section 39 the dissolution of a firm can be brought about only by the partners. it is, therefore, only in the light of sub-section (4) of section 30 of the partnership act that clause (7) of the .....

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Jul 16 1969 (HC)

Commissioner of Income-tax Vs. Amber Corporation

Court : Rajasthan

Decided on : Jul-16-1969

Reported in : [1974]95ITR178(Raj)

..... takes place and if those conditions are not in any way contrary to law, they may be given effect to because section 48 of the indian partnership act provides that the mode of settlement of accounts, between the partners is subject to the agreement ..... by the partners. this being the position ..... , a stipulation can be inserted in the partnership deed providing that the rambagh palace would go to the four sons ..... nature has been inserted in the partnership deed, it cannot be said that rambagh palace did not become partnership property. under section 14 of the indian partnership act, the property originally brought in the stock of the firm becomes the partnership property whatever be the nature of the property. a partnership deed may contain stipulations governing the rights of the parties when the dissolution .....

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Oct 28 1969 (HC)

Kishore Chand Ramji Dass Vs. Commissioner of Income-tax

Court : Punjab and Haryana

Decided on : Oct-28-1969

Reported in : [1970]77ITR76(P& H)

..... by section 30 of the said act.14. in so far as question no. 2 is concerned, it is already answered by a decision ..... is this personal liability of the minors, partners 5 and 6, who were admitted only to the benefits of the partnership according to clause 4, that supports the conclusion of the learned tribunal that the minors were in fact made substantial partners contrary to section 30 of the indian partnership act, 1930, and thus the registration of the partnership was rightly refused as being void because it was hit ..... in that previous year, (ii) before the end of the previous year in any other case; (b) where the firm is registered under the indian partnership act, 1932 (ix of 1932), or where the deed of partnership is registered under the indian registration act, 1908 (xvi of 1908), before the end of the previous year of the firm, and (c) where the application is for renewal of registration ..... references, counsel's fee in income-tax reference no, 5 of 1964 being rs. 250, and in either of the other two references, rs. 1,000.bal raj tuli, j. 17. i agree. .....

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Feb 24 1969 (HC)

Pl. Rm. Arunachalam Chettiar Vs. Controller of Estate Duty

Court : Chennai

Decided on : Feb-24-1969

Reported in : [1970]75ITR28(Mad)

..... to accept mr. thyagarajan's proposition mentioned above. section 29 of the indian partnership act, 1932, which deals with the rights of transfer of a partner's interest, lays down by its second sub-section that, if a firm were dissolved the transferee from an erstwhile partner of his share in the quondam partnership is entitled, as against the remaining partners, to receive his share of the assets of ..... character of immovable property. at the instance of the accountable person, this reference under section 64 of the estate duty act, 1953, has been made of the following question :'whether on the facts and in the circumstances of the case, the share of the deceased in the partnership known as 'ar. pl. singapore' was correctly treated as movable property for the ..... directs that such property shall not be included in the property passing on the death of the deceased. sub-section (2) of this section confers upon the board the power to make rules regulating the manner in which the ..... by section 48 of the indian partnership act, 1932, before the residue was divided between the sharers, and from this standpoint too, the deceased's interest in his one-fourth share in the firm's assets was immovable property. there can be no doubt that, if what is in question is immovable property outside the indian territories, section 21(1) of the estate duty act clearly .....

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Nov 06 1969 (HC)

St. Teresa's Oil Mills Vs. State of Kerala

Court : Kerala

Decided on : Nov-06-1969

Reported in : [1970]76ITR365(Ker); [1970]25STC497(Ker)

unnikrishna kurup, j.1. the petitioner in this tax revision case is the assessee, a firm registered under the indian partnership act, 1932. besides running an oil mill it is also engaged in the hulling of paddy for persons who bring it for conversion into rice. the accounts of the petitioner for the ..... the materials available in each case. the privy council had occasion to consider the exact import of the expression 'to the best of his judgment' occurring in section 23(4) of the indian income-tax act, 1922 (see commissioner of income-tax v. laxminarain badridas, [1937] 5 i.t.r. 170, 180 (p.c.)). the privy council made the following observation in that ..... judgment:'he (the assessing authority) must not act dishonestly or vindictively or capriciously because he must exercise judgment in the matter. he must make what he honestly believes to .....

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Apr 18 1969 (HC)

A Firm of Ramprasad Chhotalal and ors. Vs. Bai Reva

Court : Gujarat

Decided on : Apr-18-1969

Reported in : AIR1970Guj269

..... as contemplated under section 42(c) of the indian partnership act and, therefore, the debt became payable with effect from that date. on a perusal of the provisions of the indian partnership act, we find no provision which says that the rights of the strangers to the partnership firm are affected thereby. such a right continues in the creditor unless it is discharged by the firm or its partners, provided the ..... the provisions of the indian partnership act. in order to wind up the affairs of a dissolved partnership it is necessary first to pay its debts and then to settle other questions of amount between the parties. in other words, the consequences of a dissolution of a partnership arise both as regards the creidtors and as regards the partners themselves. as between the partners, as to the ..... and defendant no. 1 and the manner in which the amount has been allowed to remain with the firm. it also appears clear that the defendant-firm was not under duty to seek out the creditor such as the plaintiff in the suit for repaying the amount as it should have ordinarily happened in the case of having received a loan ..... from which this appeal arises was instituted by the respondent-plaintiff in the court of the civil judge (s.d.) at ahmedabad for recovering in all a sum of rs. 17,131-86 p. due as per statement of accounts dated 27-10-1954 with future interest and costs of the suit, against the defendants-appellants. 2-5. xx xx xx .....

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