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Judgment Search Results Home > Cases Phrase: indian partnership act 1932 section 17 rights and duties of partners Year: 1990 Page 1 of about 7 results (0.142 seconds)

Nov 09 1990 (HC)

Commissioner of Income-tax Vs. Nalli Silk Emporium and Another

Court : Chennai

Decided on : Nov-09-1990

Reported in : [1991]192ITR79(Mad)

..... , no agreement to treat the firm as continuing notwithstanding the death of a partner, the partners have no option to treat the firm as continuing. under the indian partnership act, 1932, the firm gets dissolved and the income-tax officer is not entitled to ignore this consequence. there is nothing in the language of section 187, 188 or 189, according to the high court, which precludes the ..... facts and in the circumstances of the case and having regard to the clauses of the partnership deed dated april 5, 1971, and the conduct of the partners, the appellate tribunal was right in holding that there was a dissolution of partnership on the death of one of the partners, shri loganathan, on august 4, 1973 3. whether, on the facts and in the circumstances ..... 31, 1973. the income-tax officer rejected the stand of the assessee and found that, as per the materials available on record, no accounts were taken and no rights and liabilities of the partners were determined and no dissolution took place, but the business had been carried on up to august 31, 1973, and that established that there was no dissolution on ..... provision contra. we, therefore, hold on a consideration of the terms of the deed of partnership and the provisions of the indian partnership act that, on the death of one of the partners of the assessee-firm on august 4, 1973, the firms stood dissolved and the tribunal was right in taking that view. 6. we may now make a brief reference to the decisions relied .....

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Sep 19 1990 (HC)

Harish Kumar Vs. Bachan Lal and Others

Court : Punjab and Haryana

Decided on : Sep-19-1990

Reported in : AIR1991P& H130; (1991)99PLR188

..... barred by time.'6. apart from that 'partnership', as defined in section 4 of the indian partnership act, means that it is the relation between persons who have agreed to share the profit of a business carried on by all or any of them acting for all. section 39 of the indian. partnership act provides that the dissolution of partnership between alt the partners of a firm is called the dissolution of ..... the indian partnership act. as a result of this finding, plaintiff's suit was decreed and a preliminary decree was passed in favour of the plaintiff and against the defendant for rendition of accounts.4. learned counsel for the defendant-appellant submitted that whole approach of the learned single judge in this behalf was wholly wrong and illegal. the trial court rightly concluded the partnership ..... out of the money of new defendant's concern as is evident from the statement of mehar chand,dw3 and exhibits dw5/1 and dw5/2, and therefrom it was rightly held that the firm stood dissolved on 18-7-1971. in support of his contentions, he referred to amir chand v. jawahir mal, air 1916 lahore 410; moung tha ..... was held that refusal and neglect on the part of any one partner to perform the duties undertaken by him would give to any other partner the right to apply for dissolution or without legal proceedings the partnership could by agreement be dissolved.7. in any case, settlement of accounts between the partners is not the necessary ingredient for dissolution of the firm nor the continuance .....

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Dec 17 1990 (TRI)

M. Vedachala Mudaliar and Co. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Madras

Decided on : Dec-17-1990

Reported in : (1991)37ITD312(Mad.)

..... was formed by the instrument. it was further held that section 30 of the indian partnership act. was designed to confer equal benefits upon the minor by treating him as a partner but it did not render a minor a competent and full partner, and any document which made a minor full partner could not be regarded as valid for the purpose of ..... .in the present case, such a partnership has not been constituted between two majors ..... order to constitute a valid and genuine partnership in the eye of law. these two majors or adults must have entered into partnership as partners in their own right and it would be competent for them to admit to the benefits of such partnership a minor under section 30 of the partnership act. this position under the partnership act emerges from the various authorities discussed above ..... in their own right. on the contrary, partner kamalakannan alone is a partner in his own right, while his wife smt.m.k .....

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Jun 06 1990 (TRI)

income-tax Officer Vs. Thangam Aluminium Industries

Court : Income Tax Appellate Tribunal ITAT Madras

Decided on : Jun-06-1990

Reported in : (1990)35ITD61(Mad.)

..... iac in his order in this regard has referred to the relevant clauses in the partnership agreement which imposes an obligation on partner thanaseelan to invididual partner smt. thangam and consult her about the business of the firm. section 11(2) of the partnership act provides that while mutual rights and duties of the partners may be determined by contract among themselves, such contract may also provide that a ..... to the firm. section 88 of the indian trusts act states that where a partner bound in a fiduciary ..... be taken to be the secret profits of the firm invokes the provisions of section 16 of the partnership act and section 88 of the indian trusts act. section 16 of the partnership act says that subject to contract between the partners any profit derived by a partner from any transaction from the use of the property or business connection of the firm shall be accounted for by him and paid .....

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Nov 30 1990 (HC)

Pirthi Chand (Deceased) and ors. Vs. Lal Balwant Rai Moga

Court : Punjab and Haryana

Decided on : Nov-30-1990

Reported in : (1991)99PLR520

..... was known to the plaintiff and even if no notice of dissolution was published as required under section 72 of the indian partnership act, the plaintiff- firm could not take any advantage of the provisions of section 45 of the act. the act of mange ram did not bind other partners of the dissolved firm. there is force in this contention. the kerala high court in veena. perumal ..... not having been known to the person dealing with firm to be a partner, retires from the firm, is not liable under this section for acts done after the date on which he ceases to be a partner.(2) notices under sub-section (1) may be given by any partner.'section 72 of the indian partnership act provides the mode of giving public notice it could be by publication in ..... of the appellants in this appeal concerns interpretation of section 45 of the indian partnership act, which is as under :-'45. liability for acts of partner done after dissolution :-(1) notwithstanding the dissolution of a firm, the partners continue to be liable as such to third parties for any act done by any of them which would have been an act of the firm if done before the dissolution ..... death of mange ram. some other pleas were also raised the trial proceeded on the following issues :-(1) whether the plaintiff-firm is a partnership firm and is duly registered under the indian partnership act and sh balwant rai is its partner opp(2) whether defendant no. 1 through mange ram took a loan of rs. 7,000 from the plaintiff and executed a pronote .....

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Dec 31 1990 (TRI)

Central Cloth Co. Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Mumbai

Decided on : Dec-31-1990

Reported in : (1991)37ITD1(Mum.)

..... meets the requirements of law in terms of the definitions in the income-tax act, 1961 and the indian partnership act, 1932 vis-a-vis the definitions of 'firm', 'partners' and 'partnership'. the stand of the revenue is that charge of tax, qua the assessees have to be under section 167a inasmuch as shares of the constituents are unknown and the assessee is an ..... and discretion to modify, alter or vary the terms and conditions of this partnership deed in any manner whatsoever they ..... be entitled to any profits. the hon'ble mysore high court held that the relationship amounted to a partnership/firm and it was registrable under section 26a of the act with the reasoning that the fact that no partner could, as of right, draw the profits during the first ten years did not mean that there was no agreement to share ..... or as to any act, deed or commission of any partner as to any other partner under these presents shall be referred to arbitration under the provisions of indian arbitration act then in force. 17. anything not provided herein touching the partnership shall be decided by mutual consent of all the partners. 18. notwithstanding anything stated or provided herein the partners shall have full powers .....

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Jun 25 1990 (HC)

Kommineni Krishna Rao Vs. Kommineni Babjee Rao and anr.

Court : Andhra Pradesh

Decided on : Jun-25-1990

Reported in : [1992]75CompCas121(AP)

..... taken. 19. sri t. anantababu, learned counsel for the first defendant, contended that as per section 12 of the partnership act, every partner is entitled to take part in the conduct of the business and, therefore, entering into a partnership by the licensee with others will amount to conferring rights on other persons to use the licence and, therefore, it should be held to be illegal ..... the name of the first defendant and not in the name of the firm, the parties are relegated to the status of co-owners from that of partners and, therefore, the provisions of the indian partnership act relating to dissolution of the firm and rendition of accounts cannot be resorted to. 33. the first defendant, in his written statement, clearly admitted the allegations in ..... 1980, dated september 20, 1982, should also be deemed to have been impliedly overruled.' 17. therefore, the division bench, considering the provisions of the act and the rules made thereunder as well as the conditions of licence in clause 12(2), came to the conclusion that the partnership formed by a licence-holder with others will not amount to a transfer and that ..... judge, the plaintiff filed a.s. no. 1234 of 1980 in this court. during the pendency of the appeal, an application for amendment of the plaint under order 6, rule 17, civil procedure code, was filed by the plaintiff in c.m.p. no. 13330 of 1980. the relief that was sought by way of amendment is to convert the suit to one .....

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Jun 25 1990 (HC)

Kommineni Krishna Rao Vs. Kommineni Babjee Rao and Another

Court : Andhra Pradesh

Decided on : Jun-25-1990

Reported in : AIR1991AP232

..... defendant and not in the name of the firm, the parties are relegated to the status of co-owners from that of partners and therefore, the provisions of the indian partnership act relating to the dissolution of the firm and rendition of accounts cannot be resorted to. therefore, the plaintiff and defendants are co ..... sections as well as the rules mentioned above in the view we have taken.18. sri t. anantababu, learned counsel for the first defendant contended that as per s. 12 of the partnership act, every partner is entitled to take part in the conduct of the business and therefore, entering into a partnership by the licensee with others will amount to conferring rights ..... defendant and not in the name of the firm, the parties are relegated to the status of co-owners from that of the partners and therefore, the provisions of indian partnership act relating to dissolution of the firm and rendition of accounts cannot be resorted to.31. the first defendant in his written statement clearly ..... .s. no. 1234 of 1980 in this court. during the pendency of the appeal, an application for amendment of the plaint under o.6, r. 17, c.p.c. was filed by the plaintiff in c.m.p. no. 13330 of 1980. the relief that was sought by way of amendment is ..... referred to above, we feel that it is not necessary to refer to all the decisions cited before us.17. the learned counsel for the plaintiff also referred to us the provisions of the act 4 of 1955, viz., ss. 3, 4 and 9 as well as the rules made thereunder in .....

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Jan 19 1990 (HC)

Sri Kishan Gupta Vs. Ram Babu Gupta

Court : Allahabad

Decided on : Jan-19-1990

Reported in : AIR1990All171

..... of fact, chapter vi of the indian partnership act deals with various aspects connected with dissolution of a firm. in s. 39 the term dissolution of firm is defined and in s. 40 it is laid down that a firm can be dissolved with the consent of all the partners or in accordance with a contract between the partners. section 41 deals with compulsory dissolution in ..... dissolved by a notice in writing. dissolution of partnership by this mode is a special feature of partnership at will and it gives an extra right to a partner, even in the absence of mutual agreement, to dissolve and to put an end to the partnership by serving a notice unilateralry.7. in short a partnership under section 40 can be dissolved when there is an agreement ..... to dissolve amongst all the partners while under s. 43 i ..... business is being carried on by them exclusively.4. the plaintiff filed the suit on the basis of partnership between the parties treating the firm to be continuing and seeking accounts from the defendant-appellant through arbitration. the defendant contested the plaintiff's right and alleged that the plaintiff had looked into the balance-sheet prepared on 31st march, 1982 and had .....

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Dec 05 1990 (HC)

Baria Guman Hamji and anr. Vs. Rajanikant J. Shah

Court : Gujarat

Decided on : Dec-05-1990

Reported in : 1992ACJ740; (1992)1GLR7; (1993)IIILLJ240Guj

..... an application for compensation by a workman, employed by a partnership firm, against one of the partners, is legally maintainable.13. in the result, in view of the specific provision of section 2(1)(e) of the act, provision of section 18 of the indian partnership act, 1932, and the provisions of section 43 of the indian contract act, 1872, together with the underlying purport and purpose of ..... of the commissioner. in case of procedural defect, the commissioner would have been able to cure the defect himself by exercising his powers under the act. unfortunately, the learned commissioner dismissed the rightful claim, on a very hyper-technical ground. it appears that the learned commissioner even failed to appreciate underlying purport in the provisions of order i ..... said principles. the court dealing with civil disputes and the commissioner for compensation under the act, are two distinct forums the commissioner under the act is invested with powers and also given higher duties and responsibilities under the act. unlike a civil judge, under the act, he is also required to 'suo motu' initiate inquiry about the factum of accident ..... or compensation, on 18-7-1980. later on, the opponent, rajanikant j. shah, preferred an application, at ex.48, on 17-2-1981, requesting the learned commissioner to delete the names of partners and the partnership firm, from the main application for compensation, as they came to be impleaded without following proper procedure and without obtaining the order of .....

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