Court : Income Tax Appellate Tribunal ITAT Delhi
Decided on : Feb-17-1989
Reported in : (1989)29ITD449(Delhi)
..... defines a firm as under : (23) "firm", "partner" and "partnership", have the meanings respectively assigned to them in the indian partnership act, 1932 (9 of 1932); but the expression "partnership" shall also include any person who, being a minor, has been admitted to the benefits of partnership.8. we also find that in the indian partnership act, 1932 partnership is defined in section 4. as per section 4 partnership is the relation between persons, who have agreed ..... projects the following grievance : on the facts and in the circumstances of the case, the aac was not justified in deleting the addition rightly made by the ito on account of salary and interest paid to the partners of the firm treated as urf.these appeals were fixed for hearing after due notice to the parties.we find that the ad card ..... computation of total income, the income-tax act proceeds to lay down the method of computation of such income under each head. thus, income from salaries is to be computed as per provisions of sections 15 to 17 of the act.income on "interest on securities" is to be computed in accordance with the provisions of sections 18 to 21 and "income from house ..... property" is to be computed as provided in sections 22 to 27 ibid. it is income from profits and gains of business .....Tag this Judgment!
Court : Income Tax Appellate Tribunal ITAT Mumbai
Decided on : Dec-19-1989
Reported in : (1990)32ITD739(Mum.)
..... have heard the parties and considered their rival submissions.the partnership, as defined in section 4 of the indian partnership act, 1932, is the relation between the persons, who have agreed to share the profits and losses of a business carried on by all or any of them acting for all. the mutual rights and duties of the partners of a firm may be determined by contract between them and ..... such contract, as per section 11 of the indian partnership act, may be expressed or ..... may be implied by a course of dealings. such contract may also be varied by consent of all the parties, which may be expressed or may be implied by a course of dealings. section 11 .....Tag this Judgment!
Court : Allahabad
Decided on : Aug-01-1989
Reported in : 180ITR483(All); 47TAXMAN67(All)
..... ]109itr154(all) has, by a majority, reiterated the same view, observing that where the partnership deed of an erstwhile firm did not contain any stipulation that the firm would not be dissolved on the death of one of the partners, but, by virtue of section 42(c) of the indian partnership act, 1932, the firm stood dissolved, the firm which took over the business after the dissolution ..... -tax appellate tribunal and in view of the two full bench decisions of this court, it must be held that section 187 has no application and the income-tax appellate tribunal was right in concluding that the provisions of section 188 of the act applied and two separate assessments were called for in respect of the two periods.16. it must also be observed ..... , 1975, was not there on the statute book. the proviso inserted by the said amending act is to the following effect :'provided that nothing contained in clause (a) shall apply to a case where the firm is dissolved on the death of any of its partners.'17. as the aforesaid proviso has been given retrospective operation with effect from april 1, 1975, it ..... would apply to the assessments for the years 1975-76 onwards and would be applicable to the present case since the year involved is 1977-78. the effect of the proviso newly insertedas that if a firm is dissolved on the death of a partner .....Tag this Judgment!
Court : Income Tax Appellate Tribunal ITAT Nagpur
Decided on : Dec-27-1989
Reported in : (1990)33ITD189(Nag.)
..... in a case where the provisions of section 42 of the indian partnership act apply.even here, it must be highlighted that the provisions of section 42 are "subject to contract between the partners." in other words, where a partnership deed is silent on the fate of the firm on the death of any of its partners, section 42(c) of the indian partnership act would get activated and consequently the firm ..... new partnership deed dated may 6, 1980 also makes it clear ..... the effect that the death of any of its partners of the firm shall not result in dissolution of the firm, section 42(c) is totally inapplicable.12. in the case before us, as rightly pointed out by shri nair, the agreement amongst the partner was that "in case of death of any of the partner, the partnership shall not come to an end." further, the ..... ) directed the i. t. o. to make two separate assessments. in this regard, he was impelled by the retrospective amendment to section 187(2) made by the taxation laws (amendment) act, 1984 whereby a proviso is deemed to have been added right from 1-4-1975.6. shri v. g. nair, the learned departmental representative, contended that the c. i. t. (appeals) erred .....Tag this Judgment!
Court : Madhya Pradesh
Decided on : Apr-27-1989
Reported in : 73CompCas525(MP)
..... partners, jawaharmal and lakhmichand. in view of this, on the facts and circumstances of the case, we reject shri chitale's argument as untenable. 20. this brings us to the third and more important question as to the effect of the public notice of the dissolution of the firm not having been given as stipulated under section 45 of the indian partnership act, 1932 ..... derive any advantage from copies of the awards not having been forwarded to the plaintiff. the awards were compulsorily registrable under section 17(1)(b) as they operated to create right, title or interest in immovable property of the value of one hundred rupees and upwards. they were in fact registered. ..... the suit dealings pertain to the period december 24, 1958, to march 20, 1959, i.e., after the dissolution of the partnership firm as seen from the bills, p-17 to p-37. the three awards, exhibits d-1, d-2 and d-3, clearly brought out the dissolution of the ..... lakhmichand, and defendant no. 2, jawaharmal, had no power to alienate or mortgage the same. the mortgage was executed by jawaharmal without any right or title to it and in collusion with the plaintiff. the plaintiff thus acquired no title or interest in the same. it was also pleaded ..... or at any rate, with effect from july 1, 1958, defendant no. 2, jawaharmal, and defendant no. 3, lakhmichand, had no concern or right over the business and the property of each other. the property shown in the schedule a of the plaint, i.e., the mortgaged property exclusively belonged .....Tag this Judgment!
Court : Allahabad
Decided on : Jul-04-1989
Reported in : AIR1990All27
..... nature of a suit and would be covered by section 69. section 69 of the indian partnership act is in these terms:'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 behalf of any person suing as a partner in a firm against the firm or any ..... is its enforcement by reference to arbitration. such a suit obviously would be hit by section 69(2) of the partnership act. there are number of cases ..... kumar being shown in the register of firms as partners. therefore,the only controversy is as to whether it is a matter in which the plaintiff was seeking to enforce a right arising from a contract. the whole basis of his claim is the contract which the partnership had entered into with the defendant on 17-2-1974 and what the plaintiff is seeking ..... have a clear picture of the situation it is necessary to have a few background facts. the appellant along with one ashok kumar was carrying on partnership business in the name of m/s. supreme traders. on 17-2-1974 the said partnership entered into a building contract with the respondent. however, it is alleged that ashok kumar transferred his share in the .....Tag this Judgment!
Court : Guwahati
Decided on : Sep-22-1989
..... the hindu undivided family. it is aware of the provisions of the indian partnership act, 1932. it has clearly provided that where the karta is a partner in a firm and it is found as a matter of fact that he is a partner representing the hindu undivided family, the income arising from such partnership shall belong to the hindu undivided family and shall be assessed in ..... . this decision is an authority for the proposition that a contract of partnership only regulates the rights and liabilities of the partners and, as such, has no concern with the obligation of the partners to others in respect of their shares of profit in the partnership. the dual position of a partner 'qua the partnership' and 'qua the third parties' has been clearly recognised by the supreme ..... and co., : 55itr660(sc) . great stress has been laid on the following observation in the said case (at p. 664) ; 'a partnership is a creature of contract. under hindu law a joint family, is one of status and right to partition is one of its incidents. the income-tax law gives the income-tax officer power to assess the incomeof a ..... income except receiving it as a representative of the real assessee.17. the aforesaid two illustrations make it abundantly clear that if a literal interpretation is given to the word 'individual' used in section 64(1) of the act in complete disregard to the scheme and object of the act, it will render the act itself unworkable. such an interpretation is not permissible by the .....Tag this Judgment!
Court : Kerala
Decided on : Aug-25-1989
Reported in : (1989)80CTR(Ker)202; 181ITR476(Ker)
..... the refund as well as for assessment by virtue of sections 41 and 189 of the income-tax act read with section 47 of the indian partnership act, 1932.5. section 47 of the partnership act says that on the dissolution of a firm, the authority of each partner to bind the firm and the other mutual rights and obligation of the partners continue notwithstanding the dissolution so far as may be necessary ..... government in 1974 vested in the assessee-firm a right to get the refund and the refund was also realised on that basis. the said amount of refund will form an asset in the hands of the firm which has to be distributed among the partners and, therefore, by virtue of section 47 of the partnership act, the assessee-firm continued to exist for distributing ..... the assets.6. under section 189 of the income-tax act, where any business or profession carried on by a firm has been discontinued or where a firm ..... the hands of the firm which will have to be distributed among its partners and for this limited purpose, the firm would continue under section 47 of the partnership act. if the firm continues for this purpose, it will have to be assessed also under section 189 of the income-tax act read with section 41.14. in the light of the above, our answer to the .....Tag this Judgment!
Court : Chennai
Decided on : Jan-24-1989
Reported in : 1989(42)ELT189(Mad)
..... a distinct personality does not involve that the personality continues unchanged so long as business of firm continues. the indian act like the english act avoids making a firm a corporate body enjoying the right or perpetual succession. it may be noted that a firm is not a juristic person but it is only ..... partners. under order 30, rule 1, civil procedure code, it is the partnership firm alone which is entitled to file a suit in firm name. therefore, this well laid distinction cannot be obliterated as is sought to be done now. under these circumstances, we are in entire agreement with the findings of the learned single judge who held that under section 2(h) of the act ..... jewellers. where from this information was obtained as though sujatha jewellers is the holder of a licence or again had applied for renewed in gdl no. 17/17 passes our comprehension. as a matter of fact, as just now we pointed out, sujatha jewelers never applied for renewal at all. it is ..... no. 105a, south avani moola street, madurai as seen from the schedule. then again, for the subsequent year licence was issued under licence no. 17/77 on 18.5.1982 in the name of four individuals. that was renewed on 22.10.1984 for the year 1983 to 1985 and for ..... to dispose of their application dated 18-11-1985 for renewal of their licence under the gold control act, hereinafter to as 'the act', without reference to his order dated 16-10-1987 made in c.no. xvii/7/59 order no. 11/87. w.p. 2012 of 1988 was to quash the aforesaid .....Tag this Judgment!
Court : Kerala
Decided on : Jan-24-1989
Reported in : (1989)76CTR(Ker)85; 177ITR518(Ker)
..... income tax (appeals). in second appeal, the appellate tribunal held that in view of section 189 of the income-tax act, section 47 of the indian partnership act, 1932, and the decision of the supreme court in saligram ruplal khanna v. kanwar rajnath, air 1974 sc 1094, the rights and liabilities of the partners continued till the date of dissolution on february 22, 1980, and the firm continued to ..... . original petition no. 231 of 1988 is dismissed.7. we now turn to the two original petitions filed by the revenue. in the light of section 189 of the income-tax act, read with section 47 of the indian partnership act and the decision of the supreme court in saligram ruplal khanna's case, air 1974 sc 1094, and on the facts of this case, it ..... on the business of the firm though it may be only for the purpose of winding up the affairs of the firm. in the light of section 47 of the partnership act and section 189 of the income-tax act, understood in the context of the decision of the supreme court in saligram ruplal khanna's case, air 1974 sc 1094, we have necessarily to ..... application no. 113 of 1978. finally, the matter was settled out of court. the suit was dismissed on february 29, 1980. a regular deed of dissolution of partnership was executed by all the partners of the firm on february 22, 1980. it stated that the firm stood dissolved with effect from may 22, 1978. the history of the litigation was also referred .....Tag this Judgment!