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Judgment Search Results Home > Cases Phrase: indian partnership act 1932 section 17 rights and duties of partners Year: 1979 Page 1 of about 1 results (0.257 seconds)

Nov 27 1979 (HC)

Commissioner of Income-tax Vs. Delhi Printing Works

Court : Delhi

Decided on : Nov-27-1979

Reported in : [1981]132ITR554(Delhi)

..... to an end on 14th january, 1959. this was a case in which there were only two partners in the firm and hence in the reference made by the tribunal as well as by counsel for the assessed before us, section 37 of the indian partnership act has no application to the facts of this case.11. the result of the above position is that ..... and decree the assessed was to pay a sum of rs. 1 lakh by installments as mentioned in the decree to the son whereupon the son was to have no right, title or interest in the business or in its assets. the decretal amount was made a charge on the plant and machinery of the business.5. in pursuance of the ..... submitted that the payment made by the assessed to his son represented a payment in lieu of the acquisition by the assessed of the right, title and interest of sham nath in the business and that it was rightly disallowed by the ito and the aac. on the other hand, mr. anoop sharma, appearing on behalf of the assessed, submitted that it ..... section 66(2) of indian i.t. act, 1922, which arose out of the assessment of shambhu nath, proprietor of delhi printing works, for the assessment year 1961-62 for which the previous year was the calendar year 1960. the question which has been referred for our decision is :'whether, on the facts and in the circumstances of the case, the tribunal was right .....

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Feb 13 1979 (HC)

Commissioner of Income-tax Vs. Abdul Cader Motor Service

Court : Chennai

Decided on : Feb-13-1979

Reported in : (1980)14CTR(Mad)231; [1980]122ITR812(Mad)

..... thus be a curious case of there being neither dissolution nor retirement. 13. there was actually retirement of the partner, chellappa chettiar, under the decree, though not in the manner contemplated by section 32 of the indian partnership act. even if there is no dissolution, in the case of retirement also the gujarat high court has taken ..... treated as a case of retirement, then also there is no sale, and there was only an adjustment in relation to the assets of the outgoing partner based on the rights he had in the firm, as held in velo industries' case : [1971]80itr291(guj) . 15. we have already extracted clauses 1 and 2 ..... mdr 3569 by the assessee to chellappa chettiar during the relevant previous year 2. whether the tribunal was right in reducing the penalty levied on the assessee under section 271(1)(a) of the income-tax act, 1961, for the assessment year 1968-69, consequent to its finding that rs. 32,823 being the ..... do deliver to the plaintiff on or before 12-8-1966 bus mdr 3569 plying between karaikudi and manakudi (via) thondi absolutely and with full rights with all its spare parts and tools and do take all steps to transfer the route permit for the said bus to the plaintiff who may ..... was also pointed out that ' sale ', according to its ordinary meaning, is a transfer of property for a price, and that adjustment of the rights of the partners in a dissolved firm by allotment of its assets is not a transfer nor was it for a price. 10. learned counsel for the revenue submitted .....

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Sep 19 1979 (SC)

Malabar Fisheries Co. Vs. Commissioner of Income-tax, Kerala

Court : Supreme Court of India

Decided on : Sep-19-1979

Reported in : AIR1980SC176; (1979)12CTR(SC)415; [1979]120ITR49(SC); (1979)4SCC766; [1980]1SCR696

..... ), (ii) and (iii) of clause (b) of section 48.18. having regard to the above discussion, 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 the own in the partnership assets and when one talks of the firm ..... 's property or firm's assets all that is meant is property or assets in which all partners have a ..... possesses a distinct personality does not involve that the personality continues unchanged so long as the business of the firm continues. the indian act, like the english act, avoids making firm a corporate body enjoying the right of perpetual succession.(emphasis supplied)17. it is true that under the civil procedure code, order 30, as under the english rules of court, actions may be brought by ..... or against partners in the name of the firm and even between firms and their members but that is only a matter of procedure. .....

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Feb 08 1979 (TRI)

Pelikan Paper and Stationery Mart Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Delhi

Decided on : Feb-08-1979

Reported in : (1984)7ITD346(Delhi)

..... been introduced by the interpretation clause in section 187(2) apart from the general law of partnership as laid down in the indian partnership act.9. the facts in the case of vinayaka cinema (supra) decided by the andhra pradesh high court were that the assessee-firm was constituted with nine partners. one of the partners died on 17-8-1968 and on that very day ..... held that this constituted only a change in the constitution of the firm. it is further held that a particular case can be covered by section 188 only when it ..... case and there was no clause in the partnership deed for the continuation of the partnership on the death of any one of those two partners. the majority of the judges held that even if there had been such a clause, it would have been inoperative as being violative of the provision of the indian partnership act, 1932. the decision, however, turned on the point ..... partnership act can be referred to only if it is found that a particular situation is not covered by the provision of the act. in this cast two partners remaining the same and there being a change only in one partner-one partner ceases to be a partner on account of his death and another partner entering the partnership- this answers the description of section 187 and the taxing authorities rightly .....

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Jun 18 1979 (HC)

indrajit Singh and ors. Vs. Mirza JaliluddIn Baig and ors.

Court : Orissa

Decided on : Jun-18-1979

Reported in : AIR1979Ori196; 48(1979)CLT389

..... was answered in the following manner :'the second reason given by the learned subordinate judge is that the plaintiff respondent no. 1 having prayed for dissolution of the partnership firm under section 44 of the indian partnership act, the case has to be decided in the court itself and not through arbitration. for this position, reliance is placed on a decision reported in (1972) 1 ..... here, if they were dissatisfied in any way with the manner in 'which the proceedings were being conducted by the arbitrator, it was open for them to challenge at the right time and not to wait till the award was submitted hoping that it might go in their favour. accordingly they are precluded from challenging the proceedings at a belated stage ..... 1 and 2; and (iii) for an injunction restraining defendants 1 and 2 from managing the partnership business. the suit based on a deed of partnership was filed on 17-9-1975. defendants nos. 1, 2, 4 and 3 filed petitions under s. 34 of the act on 18-9-1975, 25-9-1975, 24-10-1975 and 9-1-1976 respectively for staying ..... from raising these points at this stage. it seems, there is enough force in this contention and so this point is also decided against the appellants,17. incidentally it was argued that dissolution of the partnership is a matter exclusively within the jurisdiction of the court and a reference of the dispute to an arbitrator is bad in law. this point will .....

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May 25 1979 (HC)

Pearl Woollen Mills Vs. Commissioner of Income-tax

Court : Punjab and Haryana

Decided on : May-25-1979

Reported in : (1980)14CTR(P& H)119; [1980]123ITR658(P& H)

..... capital assets as tax on this component of the total income of the assessee.6. the learned counsel for the assessee vehemently argued that under section 2(23) of the act, ' firm,' ' partner 'and ' partnership ' have the meanings respectively assigned to them in the indian partnership act, 1932. according to the learned counsel, a firm is not a person and as such not a legal entity under the ..... that the persons who have entered into partnership with one another will be called individually partners and collectively a firm, and the name under which their business is carried on, is called the firm name. under section 14, it is provided that, subject to the contract between the partners, the property of the firm includes all property, rights and interest in property originally brought ..... was liable to pay income-tax by itself, a component of capital gains like every other assessee. under section 17 of the 1922 act, a provision had been made for the determination of the tax payable in certain special cases and under sub-section (6) of section 17, where the total income of an assessee, not being a company, included any income chargeable under the ..... the business. it is also provided that, unless the contrary intention appears, property and rights and interest in property acquired with the money belonging to the firm are deemed to have been acquired for the firm. section 19 deals with the implied authority of the partner to act as an agent of the firm and it is provided in sub-clauses (f) and .....

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May 24 1979 (HC)

Commissioner of Income-tax Vs. Kandath Motors

Court : Kerala

Decided on : May-24-1979

Reported in : [1979]120ITR644(Ker)

..... a person a, and a and others would be invalid. reference may be made in this connection to the provisions of section 46 of the indian partnership act, 1932, where a partner may enforce as against the firm of which he is a partner certain contractual rights by means of a suit (without dissolution), whereas others can only be enforced by filing a suit for dissolution of the ..... firm and having accounts taken. a firm is no more than a compendious name or expression indicating the totality of its partners, and ..... his three sons as representatives of his estate, who were to carry on the partnership in his place along with the other partners in the original deed. this was quite permissible and quite consistent with the provisions of clause 13 of the partnership deed as well as section 37 of the indian partnership act. in accordance with the devolution of interest, the three heirs had constituted shri ..... . in the result, we answer the question referred in the affirmative, that is, in favour of the assessee and against the revenue. there will be no order as to costs.17. a copy of this judgment under the signature of the registrar and the seal of this court will be communicated to the income-tax appellate tribunal, cochin bench, as required .....

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Jun 26 1979 (HC)

C.V. Mulk Vs. Commissioner of Agricultural Income-tax

Court : Kerala

Decided on : Jun-26-1979

Reported in : [1979]120ITR670(Ker)

..... basic principles of the partnership law.'3. in the light of this principle the full bench examined the principles of partnership set out in lindley on partnership. the legal position of a firm under the indian partnership act flows from the concept of a firm not being a person in the eye of the law. it was pointed out that a partner in a partnership could not be ..... judicial decisions. the conclusion was stated thus (p. 504):' as we said, the salary received by a partner from the ..... an employee of the partnership and that this has been recognised in ..... in clauses (6) and (7) of the two agreements we have referred to earlier. while section 13 is subject to a contract between partners, section 11(1) is clear and specific that any contract between partners determining their mutual rights and duties shall be only subject to the provisions of the act. apart from this, having regard to the comprehensiveness of the discussion and the basis on .....

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Jul 03 1979 (HC)

Commissioner of Income-tax Vs. Admiralty Flats Motel

Court : Chennai

Decided on : Jul-03-1979

Reported in : [1982]133ITR895(Mad)

..... as to whether a group of individuals do, by agreement, carry on business as a firm.16. under section 2(23) of the i.t. act, the expressions ' firm ', ' partner ' and 'partnership' have the meanings respectively assigned to them in the indian partnership act. section 4 of the partnership act defines ' partnership ' as the relation between persons who have agreed to share the profits of a business carried on by all ..... could constitute business in the sense of the partnership act. so, the result is whatever may be the head of assessment under the i.t. act, so long as what was carried on by the firm could be classified as business in the sense of the partnership act the firm would be entitled to registration.17. this now leads to the consideration of the question as ..... to whether in the present case the partnership is entitled to registration under the i.t ..... . act. in the recital portion of the partnership deed dated january 30, 1968, it is mentioned that the parties .....

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Aug 24 1979 (HC)

Mathurdas Govardhandas Vs. Commissioner of Income-tax

Court : Kolkata

Decided on : Aug-24-1979

Reported in : [1980]125ITR470(Cal)

..... a reference, it was held by the punjab and haryana high court, that : (i) though a firm might stand dissolved under section 42 of the indian partnership act, 1932, section 187 of the i.t. act, 1961, might still apply; (ii) as two of the partners of the old firm continued in the new firm there was only a change in the constitution of the firm within the ..... meaning of section 187(2) of the act. (d) dahi laxmi dal factory v. ito : [1976]103itr517(all) [fb]. in this case, a partnership had ..... the property of the firm applied in payment of the debts and liabilities of the firm, and to have the surplus distributed among the partners or their representatives according to their rights.' 15. from the aforementioned sections of the indian partnership act, clear indications are found as to the circumstances under which a firm is reconstituted and also when a firm stands dissolved. if there be ..... procedures are laid down covering three different contingencies : (a) a change in the constitution of the firm, (b) succession of one firm by another, and (c) dissolution of a firm.17. section 187 of the i.t. act lays down the procedure for assessment in cases where there occurs a change in the constitution of a firm. where any person who was a .....

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