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Judgment Search Results Home > Cases Phrase: indian partnership act Court: allahabad Page 1 of about 719 results (0.026 seconds)

Nov 10 2004 (HC)

Commissioner of Income-tax Vs. Badri Nath Ganga Ram

Court : Allahabad

Reported in : [2005]273ITR485(All)

..... minor.16. the appellate commissioner while allowing the appeal lost sight of the fact that sub-sections (1) and (3) of section 30 of the indian partnership act operates in different fields.17. in view of the above discussions, we are of the opinion that the order of the tribunal granting registration to the ..... been specifically mentioned that the minor shall also be liable to share the loss to the extent of his share, according to section 30 of the indian partnership act. the last portion of clause (5) of the deed that the minor shall also be liable for the loss to the extent of his share ..... that as in the present case the minor has also been made liable to share the losses to the extent of his share, according to section 30 of the indian partnership act, the firm is not entitled for grant of registration.(1) cit v. oriental t. maritime : [1997]227itr244(ap) ;(2) addl. cit v. uttam kumar ..... has nothing to do with sub-section (1) of section 30 of the indian partnership act, which provides that a minor can be admitted to the benefits of partnership. section 2(a) of the partnership act defines an 'act of a firm' means any act or omission by all the partners, or by any partner or agent of the ..... to share the profit of the firm but shall not be liable for the losses except as defined under the indian partnership act. the court on the interpretation of clause (2) of the partnership deed of that case came to the conclusion that loss has to be fully distributed amongst the three adult partners. .....

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Feb 20 1969 (HC)

Ram NaraIn and Brothers Vs. Commissioner of Income-tax

Court : Allahabad

Reported in : [1969]73ITR423(All)

..... of conveyance as contemplated in section 22 of the indian partnership act, quoted above, becomes imperative. in point of fact, conversion of firm's property into personal property of the partners involves a declaration that the interest of the firm in the ..... or immovable. the contention that a firm cannot own property, even for the purpose of its business, is hardly tenable. such ownership is clearly postulated in section 14 of the indian partnership act 1932, which runs thus:'14. subject to contract between the partners, the property of the firm includes all property and rights and interests in property originally brought into the stock ..... personal property only by means of an instrument in writing. it may be mentioned here that there is no provision in the indian partnership act corresponding to section 22 of the english partnership act, 1890. that being so the legal fiction which permits partnership realty being treated as personalty as between partners infer se is not available here and the need for execution of an instrument ..... . a partner is not entitled to get his share in specie in the movable and immovable properties of the firm. section 48 of the indian partnership act provides that, on dissolution of the firm, its assets must first be applied for payment of the debts and liabilities of the firm and if any residue is left after .....

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Sep 16 1974 (HC)

Dahi Laxmi Dal Factory Vs. Income-tax Officer and anr.

Court : Allahabad

Reported in : [1976]103ITR517(All)

..... firm ' and how it is different from a firm which is newly constituted to determine the scope of sections 187 and 188 of the act.6. under the indian partnership act a firm can be said to be reconstituted when a new partner is added or ah existing partner retires or is expelled without dissolving the ..... firm. chapter v of the indian partnership act deals with the incoming and outgoing of partners. section 31 of that chapter provides :' subject to contract between the partners and to the provisions of ..... still be a case of reconstitution. but this provision does not change the concept of reconstitution of a firm as understood in the indian partnership act nor does it obliterate the distinction between reconstitution and dissolution. when it talks of a partner ceasing to be a partner it refers to section ..... 32 of the indian partnership act and when it talks of admission of a new partner it refers to section 31 of the indian partnership act. it may be restated here that by incoming and outgoing of a partner the firm is not ..... position that emerges is that section 187 applies only where a firm is reconstituted in accordance with sections 31 and 32 of the indian partnership act, namely, when a new partner is taken or an existing partner retires with the consent of all the partners or without their consent if the .....

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Mar 04 1987 (HC)

Commissioner of Income-tax Vs. Agency Hamdard Waqf Limited

Court : Allahabad

Reported in : (1987)63CTR(All)345; [1987]166ITR698(All); [1987]31TAXMAN495(All)

..... any partner. in the absence of such a clause, it may be necessary to determine the position emerging as a result of the law contained under the provisions of the indian partnership act. in such a situation, the conduct of the surviving partners may also be relevant. in view of the changed position in the law and in the absence of material and ..... of the income for the entire previous year. in our opinion, this is the correct legal position. it thus appears that under the general law of partnership under the indian partnership act as well as under the income-tax acts, the position is that a firm retains its identity and assessable entity in case of its reconstitution. it is hence the same person. ' 8. thus ..... of the firm, died on june 10, 1979, and smt. quamarunnisa retired from the firm. the remaining three partners along with saghir ahmad and athar hussain entered into a new partnership to carry on business from june 11, 1979. the assessee-firm filed two returns of income, one for the period april 1, 1979, to june 10, 1979, and the other ..... separate assessments for the aforesaid two periods. the income-tax officer was of the opinionthat the assessee's case was fully covered by the provisions of section 187 of the act and, therefore, there should be one single assessment for both the periods. after working out the income of the two periods separately, the income-tax officer framed one consolidated assessment .....

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Apr 19 1999 (HC)

Krishna Bhagwan Agarwal and Another Vs. Ist Additional District Judge, ...

Court : Allahabad

Reported in : 1999(2)AWC1753

..... by vishnu bhagwan. he had no concern with the firm business. it is also a common case of the parties that it was a partnership at will. under the provisions of section 43 of the indian partnership act. a partnership at will may be dissolved by any partner giving notice in writing to all the other partners of his intention to dissolve the firm. the ..... a party but protects the rights of the injured party by keeping intact, where a partner excludes another from the management of the partnership affairs, a case is made out for appointment of a receiver and this doctrine has been acted upon even where the defendant contends that the plaintiff is not a partner or that he has no interest in the ..... partnership firm, or apart from non-cooperation of one of the partners in the management, if the quarrels are such as to occasion a complete deadlock in ..... a nature as to show that he is no longer to be trusted, as for example, he is carrying on trade of his own with partnership property or if there is any mismanagement which may endanger the whole concern or if that partner is acting in a manner inconsistent with his duties and obligations or has excluded other partner from fruits of .....

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Aug 29 2001 (HC)

Commissioner of Income-tax Vs. Bhagat Ram Jai Narain

Court : Allahabad

Reported in : [2001]252ITR741(All); [2001]119TAXMAN297(All)

..... such share of the property and of the profits of the firm, as may be agreed upon as provided under section 30(2) of the indian partnership act, 1932.7. shri a. n. mahajan, learned counsel, further submitted that the respondent-assessee had adopted a colourable device to avoid the payment ..... of shir onkar nath mahendra have been admitted to the benefits of the partnership firm, i.e., respondent-assessee. under section 30(2) of the indian partnership act, each minor who has been admitted to the benefit of the partnership firm has a right to such share of the property and of the ..... also the father/guardian of two minor sons, namely, master rahul mahendra and master pankaj mahendra, who have been admitted to the benefits of the partnership firm, was thus, not using the property solely for the purpose of his residence and, therefore, the respondent-assessee, was not entitled for higher ..... shri prem nath mahendra and the minor sons of shri onkar nath mahendra, master rahul mahendra and master pankaj mahendra, admitted to the benefits of partnership. the reference relates to the assessment year 1975-76. during the previous year relevant to this assessment year, the respondent-assessee constructed a residential ..... : [1969]74itr67(sc) , the supreme court had held that in a reference under section 66 of the indian income-tax act, 1922, which corresponds to section 256 of the income-tax act, 1961, only the question which is either raised or argued before the tribunal may be answered, even if the .....

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Nov 07 1997 (HC)

Commissioner of Income-tax Vs. Fazal HussaIn and Sons

Court : Allahabad

Reported in : [1998]233ITR32(All)

..... a partner on his becoming insolvent, or dies or a minor becomes major. . .10. under section 30(1) and (2) of the indian partnership act, a minor cannot be a partner. he can be admitted to the benefits of the partnership. on attaining majority, if he so elects, he, under section 30(5), becomes a partner. his share is the same to which he ..... fresh agreement. that is why no fresh agreement or instrument is needed.12. the income-tax act makes a departure in the treatment of minors qua partnership. section 2(23) of the act says ;'2. (23) 'firm' , 'partner' and 'partnership' have the meanings respectively assigned to them in the indian partnership act, 1932 (ix of 1932) ; but the expression 'partner' shall also include any person who, being ..... to be a partner, entitled to all the benefits conferred on a partner by the act. . . when a minor becomes major, and on his opting becomes a partner within the meaning of the indian partnership act, no change occurs in the constitution of the firm under the it. act. the instrument of partnership evidences the same number and identity of partners as before. . . in view of the ..... fact that the i.t. act deems a minor to be a partner, there can be no change in .....

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Oct 06 1999 (HC)

Commissioner of Income-tax Vs. Jai Bharat theatre

Court : Allahabad

Reported in : [2001]247ITR295(All); [2000]110TAXMAN297(All)

..... controversy in this case is whether the so-called firm, jai bharat theatre, carried on business and was, therefore, a valid partnership firm. 6. partnership has been defined in the indian partnership act to mean 'the relationship of persons who have agreed to share the profits of a business carried on by all or any ..... of them acting for all'. the word 'business' has also been defined to include every trade, occupation and profession. therefore, the ..... that there was no business carried on in the assessment year 1963-64. thus, in order that there may be a valid partnership entitled to registration under the income-tax act, 1961, it has to be engaged in business, i.e., trade, occupation or profession. it is in this light that ..... nowhere mentioned that the aforesaid four persons, viz., ratan kumar, lav kumar, rewati raman and madan mohan, had entered into any partnership and it was that partnership that was letting out the cinema under construction. the lease deed mentions the aforesaid persons as owners of jai bharat theatre. the said ..... income-tax, lucknow, thought that the so called firm, jai bharat theatre, did not carry on any business and, therefore, there was no valid partnership. he, therefore, took the view that the assessee could not be assessed as a registered firm. he, therefore, cancelled the assessment order under section .....

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Sep 12 2005 (HC)

Sangam Eent Nirmata Samiti Through Its President Shri Uma Shanker Ailw ...

Court : Allahabad

Reported in : 2006(1)AWC482

..... owners of allahabad and to take steps that may be for the general good of the trade. the petitioner no.2 is a partnership firm duly registered under the indian partnership act. the members of the petitioner no.l association as also the petitioner no.2 are carrying on the business of manufacture and sale ..... parishad that 218 brick-kiln owners have already deposited the licence fee and renewal fee. we find that the petitioner no.2 who is a partnership firm and is engaged in brick-kiln trade and since brick-kiln has challenged the levy of licence fee, therefore the court has to adjudicate upon ..... ltd. v. state of gujarat : [1992]1scr675 or to strike it down on the ground that the fee charge was not established to be so commensurate. (see indian mica and micanite industries v. state of bihar, : air1971sc1182 and a.p.paper mills ltd. v. govt, of a.p. : air2000sc3290 ).'14. in the ..... and other matters relating to the business, to find out illegal money lending, carry out raids in suspicious cases and do regular inspection as provided in the act. the act serves a larger public interest.15. in the case of state of bihar and ors. v. shree baidyanath ayurved bhawan (p) ltd. and ors., : ..... the vast majority of which are poor peasants, tenants, agricultural labourers and salaried workers who are unable to repay their loans. the object of the act is to control the money lending business and protect the debtors from the malpractices in the business by detecting illegal money lending. this exercise is a .....

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May 21 1971 (HC)

Commissioner of Income-tax Vs. Smt. Saroj Agarwal

Court : Allahabad

Reported in : [1972]83ITR875(All)

..... provided that the partners were to share profits and losses equally, i.e., to the extent of as. 0-5-4 each. it mentioned that the partnership was at will and that the provisions of the indian partnership act, 1932, applied to it. these very three persons established another firm by the name of hari shanker gauri shanker rice and dall mills, kanpur, by ..... of the act, on the dissolution of a firm, every partner or his representative is entitled as against all other ..... as to what was the effect of the death of sri prem shanker on the constitution of the two firms, created by the partnership deeds dated 12th june, 1951, and 30th july, 1957. according to section 42 of the indian partnership act, subject to a contract between the parties, a firm is dissolved on the death of a partner. it follows that, unless there ..... shanker, his right to run the business which he was carrying on in partnership with gauri shanker and hari shanker devolved upon his widow or not, will again have to be considered keeping in view theprovisions of the indian partnership act. as stated earlier, section 42(c) of the partnership act provides that a partnership is dissolved by the death of a partner. according to section 46 .....

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