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Judgment Search Results Home > Cases Phrase: indian partnership act 1932 section 17 rights and duties of partners Year: 1988 Page 1 of about 6 results (0.073 seconds)

Dec 17 1988 (HC)

M.O.H. Aslam Vs. M.O.H Uduman and ors.

Court : Chennai

Decided on : Dec-17-1988

Reported in : (1989)2MLJ172

..... , the rights of parties could be worked out only by applying the provisions of the said code, because exhibit b.2, the retirement deed dated 1.8.1968 is in continuation of the terms and conditions found in exhibit b.1. under the pondicherry (laws) regulation, 1963; the indian partnership act, 1932 was extended to pondicherry on and from 1.10.1963, except for section 69 ..... contention of learned counsel for defendants that as the provision is in parimateria with section 6 of the general clauses act, the rights conferred on each partner under exhibit b.1 read with exhibit b.2, being a vested right; by the saving provision in section 4(2)(d), in spite of indian partnership act made applicable to pondicherry on and from 1.10.1963, in so far as ..... not be gone into in this appeal.17. the second point is, whether the partnership agreement (exhibit b.1) is a partnership-at-will or not?18. section 7 of the partnership act reads as follows:where no provision is made by a contract between the partners for the duration of their partnership, or the determination of their partnership, the partnership is partnership-at-will.the learned judge held:.in the ..... named evergreen tube well service, in which plaintiff was a partner along with others including one md. issak, was carrying on business, md.issak is the brother-in-law of plaintiff and defendants 1 to 3, and son-in-law of fourth defendant. it was formed on 17.7.1970, and it was re-constituted on 1.7.1973. he with the .....

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May 05 1988 (HC)

Commissioner of Income-tax Vs. Sri Krishna Re-rolling Mills

Court : Rajasthan

Decided on : May-05-1988

Reported in : (1988)70CTR(Raj)175; [1989]175ITR366(Raj); 1988(2)WLN128

..... further provides for continuance of the same firm by the surviving partners together with the heir of the deceased partner being taken in as a partner. it is the terms of this partnership deed which governed the case at the time of death of the two partners. clause (c) of section 42 of the indian partnership act, 1932, which lays down the general principle of dissolution of a firm ..... be an express term to the contrary and the partnership is carried on with the remaining partners together with the heir and representative of the deceased partner. it was expressly held that (at p. 765) 'by virtue of section 42(c) of the indian partnership act, 1932, a firm was dissolved by the death of a partner but as the section provided, that was subject to the contract between ..... view of the terms of the partnership deed, but there is a change in the constitution of the firm, the high court was right'. after this decision of the supreme court, it cannot be doubted that the general principle of dissolution of a partnership firm according to section 42(c) of the partnership act on the death of a partner is subject to a contract to ..... the contrary where the number of surviving partners is two or more. this is the position .....

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Aug 18 1988 (TRI)

income-tax Officer Vs. Dr. C. Kurshid

Court : Income Tax Appellate Tribunal ITAT Madras

Decided on : Aug-18-1988

Reported in : (1989)28ITD34(Mad.)

..... -section (1) of section 17 of the registration act. therefore, he contended that no registration was necessary when a partner brings in immovable property as his capital contribution to the firm.6. we have carefully considered the rival contentions. section 14 of the indian partnership act, 1932 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 ..... agreement as complete gift because the agreement itself specifically provided for the assessee executing a regular document of gift and having the same registered as soon as exemption from stamp duty was obtained from the government of tamil nadu. as the parties chose to bring into existence a document in writing it was held that the provision of the registration ..... as partnership assets even though the assets so brought in consist of immovable property, and that the share of a partner in a firm is movable property even though the firm owned immovable properties. this decision was rendered by their lordships when rule 7c of the estate duty rules, 1953 was challenged as ultra vires section 21(1) and section 85 of the estate duty act, 1953 .....

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Feb 25 1988 (HC)

Indian Metal Industries Vs. United Glass Co.

Court : Delhi

Decided on : Feb-25-1988

Reported in : 34(1988)DLT405

..... a (ex. public witness 1/1) show that the plaintiff firm was duly registered under the indian partnership act and sh. surindra kumar was one of its partners. the issue if, thereforee, decided in favor of the plaintiff. issue no. 2 (10) article 1 of the indian limitation act, 1963 provides a period of three years for a suit for the balance due on a mutual ..... -14) typed and the same was put on the notice board. in the notice it was stated that sh. mool chand rastogi had taken over complete charge of sheet, metal section and printing department with effect from 19th april, 1962. sb. mool chand rastogi also produced an order (ex. p-15) dated 25 april, 1962 showing that he was managing the ..... the plaintiff. correctness of these documents was not denied by the plaintiff sh. surinder kumar in his evidence. this evidence proves that ex. p-1 and p-2 were genuine. (17) the plaintiff has filed a copy of the entries in his account books relating to the account of the defendant. these show that on april 1, 1962 a sum of ..... the plaintiff, and ex. p-18andp-19by sh. surinder kumar rastogi, the other partner. sh. kailash chand rastogi (ex. pw-3). accountant of the plaintiff, admitted his signatures on bills and p-10. this evidence proves that the goods under bills ex. p-9 and p-10 were duty supplied. the evidence of sh. hira lal (public witness 12) a railway broker .....

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Sep 26 1988 (HC)

Commissioner of Income-tax Vs. Mahatta Construction Co.

Court : Guwahati

Decided on : Sep-26-1988

..... in this case. 9. in this case, it may be apposite to extract section 11 of the indian partnership act: '11. determination of rights and duties of partners by contract between the partners.--(1) subject to the provisions of this act, the mutual rights and duties of the partners of a firm may be determined by contract between the partners, and such contract may be expressed or may be implied by a course ..... . 4. the income-tax officer held that the withdrawal of rs. 50,000 by a partner was not legal and as a sequel disallowed the payment of interest of rs. 3,375 and rs. 4,711. the appellate assistant commissioner held that a partner, under the indian partnership act, 1932, is entitled to withdraw the amount unless it was agreed to the contrary. once the amount ..... was withdrawn, the gift of that amount to the partner's niece and the donee's deposit with the firm was proper. therefore, on the above reasoning .....

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Feb 23 1988 (HC)

Commissioner of Income-tax Vs. Basant Behari Gopal Behari and Company

Court : Allahabad

Decided on : Feb-23-1988

Reported in : (1988)70CTR(All)11; [1988]172ITR662(All); [1988]39TAXMAN194(All)

..... (all) and thereupon the supreme court observed towards the end (at p. 777 of 169 itr):'the full bench ruled that under the general law of partnership under the indian partnership act as well as under section 187 of the act in the case of reconstitution of a firm, it retains its identity and is assessable in respect of the entire previous year. in view, however ..... in the case of an unregistered firm, according to the high court, found no support in the statute. the high court was of the view that the tribunal was not right in holding that the assessee would be entitled to the benefit of registration up to june 4, 1964, that is, the first part of the previous year. on these facts ..... om prakash, j.1. at the instance of the revenue, the income-tax appellate tribunal, allahabad, has referred the following question for our opinion:'whether the tribunal was right in holding that even though there had been only a change in the constitution of the firm on the death of sri basant behari, two separate assessments will have to ..... ) . let us see whether the submission of sri mahajan is correct. in wazid ali abid ali's case : [1988]169itr761(sc) , the assessee-firm was constituted under a deed of partnership dated march 17, 1959, with 17 partners. the said deed provided, inter alia, that the firm shall not be dissolved on the death of any .....

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Aug 24 1988 (HC)

N. Satyanarayana Murthy and ors. Vs. M. Venkata Bala Krishnamurthy

Court : Andhra Pradesh

Decided on : Aug-24-1988

Reported in : AIR1989AP167

..... the word 'just and equitable undersection 44(g) has not been defined precisely, hasstated thus -'but, it is submitted, that the court's power to act under this sub-section is virtually unlimited and cannot be restricted to the particular ..... -'subject to the provisions of this act the mutual rights and duties of the partners of a firm may by determined by contract between the partners, and such contract may be expressed or may be implied by a course of dealing.'section 32(1) of the act gives right to a partner to retire from partnership either (a) with the consent of all other partners; (b) in accordance with an ..... law. the statement of accounts pursuant to ex.a6 is not correct, the respondent was unilaterally expelled from the partnership with effect from march 1, 1976; it is illegal, void and hit by section 32 of the indian partnership act (act 9 of 1932) (for short 'the act'), the 1st appellant mismanaged the affairs of the business of the firm, caused great prejudice to the respondent by ..... of the action, pro-socie effected by one of the partners; (2) by an action brought out by one partner against the other for the purpose of dissolving the partnership. in the foot-note it is stated that a proposal for a dissolution, not accepted, is not a dissolution.' 17. mukerji on indian partnership act,3rd edition, 1974 at page 370 para 22, thescope of .....

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May 09 1988 (HC)

Commissioner of Income-tax Vs. Nitro Phosphetic Fertilizer.

Court : Allahabad

Decided on : May-09-1988

Reported in : (1988)72CTR(All)114; [1988]174ITR269(All)

..... arises for consideration in the present case, it is profitable to refer to certain definitions and provisions of the act. sub-section (23) of section 2 of the act reads as follows :'firm, partner and partnership have the meanings respectively assigned to them in the indian partnership act, 1932 (9 of 1932), ...'partnership is the relation between persons who have agreed to share the profits of a business carried on by all ..... such an official communication is binding on the state government.'the supreme court has, after considering the rival contentions, at page 1564, held :'it is true the high court has rightly observed that the aforesaid notification of the government of india has no statutory force and as such is not binding on the sales tax officer. it cannot, however, be denied ..... construe it according to its plain language and not on any a priori considerations.'it has been held in the case of coromandel fertilizers ltd. v. union of india : 1984(17)elt607(sc) , that the explanation forms part of the main provision. it neither controls nor alters the main provision, but only explains it.thus, from a conspectus of the authorities ..... the supreme court in the aforesaid decision at page 17 as follows :'assuming that there was some ambiguity in the language of clause (b) of section 15, as it existed at the relevant time, the matter is made clear by the amendment made in the central act by the central sales tax (amendment), act 1972 (act no. 61 of 1972). as a result of the .....

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Nov 22 1988 (HC)

Commissioner of Income-tax Vs. Jagjit Singh Jaspal Singh

Court : Punjab and Haryana

Decided on : Nov-22-1988

Reported in : [1989]176ITR276(P& H)

..... was rightly made in form no. 11 and the decision of the income-tax officer that the application should have been made in form no. 11a is clearly illegal.7. the other objection of the income-tax officer was also not well-founded. section 2(23) of the act defines 'firm', 'partner' and 'partnership' as having the meanings respectively assigned to them in the indian partnership act, 1932, apart ..... from slight deviation, considering a minor to be a partner who is admitted to the benefits of the partnership is considered partner for the purpose of the act. under the general law, 'firm' is different from 'firm ..... the firm name but of the firm. the firm is compendious of the partners, all the partners have signed and their names have been clearly mentioned with the shares, etc., and so there was no defect in the application and the income-tax officer was duty bound to register the partnership.10. before we answer the two questions on the basis of our aforesaid .....

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Nov 30 1988 (HC)

income-tax Officer Vs. G. Sharma BaruA.

Court : Guwahati

Decided on : Nov-30-1988

..... mentioned earlier, the two minors grandsons have been only admitted to the benefits of the partnership. by this action of the parties, it cannot be said that the minors have been made partners of the partnership as otherwise it would violate the relevant provisions of the indian partnership act and the indian contract act. for such proposition, we may refer to various decisions, namely, in the case of ..... shri g. sharma barua and in the hands of the shri phani sharma. it is submitted that the ito in the assessment of shri g. sharma barua has rightly invoked the provisions of the section 64 and in clubbing the entire income in the assessment. it is submitted, therefore, that in view of the peculiar background of the case of and the ..... materials on record after making proper enquiry in order to show that the whole exercise was only a device to avoid income-tax, capital gain etc. in addition to stamp duty and that the properties have been transferred to the minors without any consideration at all. it is submitted that it cannot be said that the capital contribution stipulated to be ..... business activity. for this proposition, we may refer to the decision of the honble andhra pradesh high court in the case of cit v. phatiamal & sons 1985 tax lr 898.17. as mentioned by the ito and from the materials available it is seen that within the period of 13 months of the constitution of the firm, the firm was liquidated .....

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