Court : Mumbai
Decided on : Mar-03-2003
Reported in : 2003(4)ALLMR1054; 2004(2)BomCR352; 2003(3)MhLj979
..... , 1983, the name of ku. shaila bhavanji shah was not registered as a partner of the suit firm. section 69 of the indian partnership act, 1932 along with maharashtra amendment reads as follows : 'section 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 a behalf of any person ..... of the partnership act nor sub-section (4) of the said act lay down any exception to the said sub-section by stating therein that in case of an application being made to the register (sic: registrar), the bar of sub-section (2) is diluted. 17. it will be profitable to examine the observations made in the case of bharat suryodaya mills co. ltd., ahmedabad v. ..... categorically taken a defence that the suit is not maintainable as the plaintiffs-firm is not registered under the provisions of indian partnership act. in view of this categorical averment, it was the duty of the plaintiff to supply the names of all the partners which admittedly has not been done. in this view of the matter, the provision of order 30, civil procedure code also have ..... mohatla brothers a firm, : air1969guj178 . in the said judgment, the scope of order 30 vis-a-vis section 69(2) of the partnership act is also discussed. in para 6, after considering .....Tag this Judgment!
Court : Income Tax Appellate Tribunal ITAT Guwahati
Decided on : May-23-2003
Reported in : (2004)89ITD387(Gau.)
..... competition as there is clear conflict of interests. section 16 of indian partnership act, 1932, seeks to remedy precisely this kind of mischief, because the partner is an agent of the firm and he has to safeguard the best interest of the firm. clause 11 of the partnership deed, section 16(b) of the indian partnership act and section 88 of indian trust act read together would show that the assessee is ..... the firm. 2) clause 11 of the partnership deed (supra), section 16(b) of the indian partnership act (annex-5, pp. 7 of paper-book dated 5 ..... business was supply of 'any commodities'. the respondent shut out any competition from the partnership firm, despite his full knowledge. this results in unfair competition, as there is clear conflict of interests. section 16 of the indian partnership act, 1932, seeks to remedy precisely this kind of mischief, because, partner is an agent of the firm and he has to safeguard the best interest of ..... in deleting the same and accordingly we find no error in the order of the cit(a) on this account. the ground taken by the revenue is, therefore, rejected.17. in the cross objection the assessee has merely supported the order of the cit(a) and in view of our above decision in the revenue's appeal the ground .....Tag this Judgment!
Court : Kolkata
Decided on : Jan-06-2003
Reported in : (2003)2CALLT122(HC)
..... tender form itself and also on the provisions of section 47 of the indian partnership act, 1932, to come to a finding that even if the partnership firm stood dissolved on account of the letter written by shri bansal on 6th february, 1992, the authority of each partner to bind the firm and other mutual rights and obligations of the partners continue, notwithstanding the dissolution so far as it ..... company had not been formerly informed that the partnership had been dissolved giving rise to a situation contemplated in section 47 of the indian partnership act, 1932. it is also to be seen whether in view of the provisions of section 47 of the aforesaid act, the petitioner company could have terminated the contract without ascertaining as to whether the other partner was ready and willing to complete the ..... there were no materials before the learned arbitrator which justified the awarding of a sum of rs. 6,32,500/- on account of the alleged profit for 371/2 months.17. reference was then made to the decision of the hon'ble supreme court in the case of rajasthan state mines and minerals ltd. v. eastern engineering enterprises, : air1999sc3627 , where among .....Tag this Judgment!
Court : Supreme Court of India
Decided on : May-09-2003
Reported in : 2003(4)ALD62(SC); 2003(51)BLJR1677; [2003(3)JCR162(SC)]; JT2003(4)SC578; (2003)134PLR570; 2003(4)SCALE648; (2003)6SCC265
..... and 3 from the firm as envisaged under section 32(3) of the indian partnership act. respondent nos. 2 and 3 have contended that the appellant was aware of the dissolution of the partnership but that by itself will not absolve the liability of the retiring partners. section 32 of the indian partnership act, 1932, reads as follow:-'32 retirement of a partner. (1) a partner may retire:- (a) with the consent off ..... this aspect is succinctly made clear in the celebrated book 'lindley & bank on partnership (sixteenth edition) and at page 358, it is stated as under:'it is perhaps self evident that a creditor's rights will not normally be prejudiced by an agreement transferring an accuredliability from one partner to another unless the creditor is mde a party to the agreement or assents ..... three members, a, b, and c, is indebted to d; that a retires, and b and c either alone, or together with a new partner, e, take upon themselves the liabilities of the old firm. d's right to obtain payment form a, b, and c is not affected by the by arrangement, and a does not cease to be liable to ..... into an agreement to discharge him from liability. an adoption by the creditor of the new firm as his debtor does not by any mean necessarily deprive him or his rights against the old firm especially when the creditor is not a party to the arrangement and then there is no fresh agreement between the creditor and the newly constituted firm .....Tag this Judgment!
Court : Mumbai
Decided on : Jul-23-2003
Reported in : 2004(2)BomCR801; (2004)187CTR(Bom)162; 265ITR346(Bom)
..... consideration which are as under :'1. whether the deed of family settlement dated january 30, 1997, amounts to dissolution of partnership formed by agreement as contemplated under section 40 of the indian partnership act ?2. whether the distribution of assets of the firm amongst the retiring partners dated january 30, 1997, and the deed of reconstitution dated january 30, 1997, would amount to transfer of the ..... court posed the question whether the dissolution of a firm extinguishes the firm's rights in the assets of the partnership so as to constitute a transfer of assets under section 2(47). after considering various judgments and the provisions of the indian partnership act, the court observed that a partnership under the indian partnership act is not a distinct entity. if that be the position, the apex court ..... matter pertains to an assessment before the amendment act came into force in 1988. the issue was in respect of the retirement of a partner from a partnership. the real issue in that case was whether a partner who has retired and had received his share of the assets would be liable to be taxed under section 47.17. we may now consider the judgment in ..... b.t. patil and sons v. cgt : 224itr431(kar) . we will advert to some facts. in that case, the issue before the division bench of the karnataka high court was, charging of gift-tax. in that case there was a firm with five partners which owned several .....Tag this Judgment!
Court : Chennai
Decided on : Nov-11-2003
Reported in : (2004)1MLJ105
..... public notice under this act is given: (a) where it relates to the retirement or expulsion of a partner from a registered firm, or to the dissolution of a ..... registered firm, or to the election to become or not to become a partner ..... when no public notice was given as contemplated under section 72 of indian partnership act, 1932 to bind the third party, viz., the plaintiff/appellant herein? 5.2. i am inclined to refer the relevancy of the public notice contemplated under section 72 of the indian partnership act, 1932 (for brevity 'the act'). section 72 of the act reads as follows: 'section: 72 - mode of giving public notice:- a ..... is correct in allowing the appeal on the ground that the second respondent/judgment-debtor had retired from partnership on 22.6.1996 and attachment was effected on 12.7.1996 when no public notice was given as contemplated under section 72 of indian partnership act, 1932 to bind the third party, viz., the plaintiff/appellant herein? 4.1. question:1 - .....Tag this Judgment!
Court : Kerala
Decided on : Sep-01-2003
Reported in : (2004)186CTR(Ker)343; 269ITR322(Ker)
..... present is a case of a firm originally constituted with only two partners where one of them died, the death being followed by taking in new partners. by virtue of section 2(23) of the act, the expressions 'firm', 'partner', 'partnership', have the same meaning as assigned to them in the indian partnership act, 1932. according to the definition, partnership is the relation between persons who have agreed to share the ..... partnership firm succeeding another' ?'3. we have ..... case falling under section 188 of the it act as a case of one ..... or only a change of constitution within the meaning of section 187(2) of the it act when two partners retired and two others were admitted as new partners ?(2) whether, on the facts and in the circumstances of the case and also in the light of clause 14 of the partnership deed, the tribunal is right in law and fact in holding that 'this is a .....Tag this Judgment!
Court : Andhra Pradesh
Decided on : Mar-13-2003
Reported in : AIR2003AP418; 2003(3)ALD419; III(2003)BC313
..... prohibition contained under section 69(2) of the indian partnership act. the said section reads as follows:'no suit to enforce a right arising from a contract shall be instituted in any court by or on behalf of a firm against any third party unless the firm is registered and the persons suing are or have been shown in the register of firms as partners in the ..... and (2) that the persons suing are or have been shown in the register of firms as partners in the firm....'10. on the other hand the learned counsel for the first respondent argued that the objection under section 69(2) of the indian partnership act was not raised before the court-below or in the grounds of appeal. learned counsel submitted that whether ..... it is a registered partnership firm. those who desirous to avail the facility provided under the law to sue in the name of or on behalf ..... of the constitution of india, which right is always subject to reasonable restrictions imposed by the law from time to time. the rights and obligations of a partnership firm which has no distinct legal existence but only a compendious name for the partners are regulated by the provisions of the indian partnership act. the law refuses to recognise the right of a partnership firm to sue third parties unless .....Tag this Judgment!
Court : Income Tax Appellate Tribunal ITAT
Decided on : Feb-18-2003
Reported in : (2004)88ITD221(Bang.)
..... have agreed to share the profits of a business carried on by all or any of them acting for all. persons who have entered into partnership with one another are called individually 'partners' and collectively 'a firm ..... only from house property.section 2(b) of indian partnership act, 1932 defines business. it is an inclusive definition as in the case of indian income-tax act. section 2(b) of the indian partnership act reads as follows: 2. in this act, unless there is anything repugnant in this subject or context.section 2(13) of the income-tax act, 1961 ('the act') also defines business. section 2(13) of the act reads as follows: (13 ..... word "business" as defined in section 2(b) of the indian partnership act, 1932 fall within the wide ambit of the term "business" as defined in section 2(13) of the income-tax act.7. now we have to sec whether there can be a valid partnership firm without any business activity. section 4 of the indian partnership act, 1932 defines the firm partnership which reads as follows: 4. partnership is the relation between persons who .....Tag this Judgment!
Court : Andhra Pradesh
Decided on : Jan-20-2003
Reported in : 2003(2)ALD375; 2003(2)ALT626
..... the indian partnership act, 1932 had not been followed, the respondent is having a right to use the same trade mark of the appellant-firm. the learned counsel also had pointed out to the very object of constituting a partnership, the concept of partnership, the concept of dissolution, the concept of retirement and also had specifically drawn my attention to sections 9, 32 and 36 of the indian partnership act, 1932, hereinafter ..... injunction. be that as it may, it may be relevant to look at certain of the provisions of the act for the purpose of better appreciation of the facts of the case. section 9 of the act dealing with general duties of partners specifically says that partners are bound to carry on the business of the firm to the greatest common advantage, to be just and ..... faithful to each other, and to render true accounts and fullinformation of all things affecting the firm to any partner or his legal representative. sub-section (1) of section 32 of the act specifies .....Tag this Judgment!