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Judgment Search Results Home > Cases Phrase: indian partnership act Court: allahabad Year: 1973 Page 1 of about 14 results (0.019 seconds)

Mar 02 1973 (HC)

The Commissioner of Income-tax Vs. Ram Laxman Sugar Mills, Mohiuddinpu ...

Court : Allahabad

Decided on : Mar-02-1973

Reported in : AIR1973All532; [1973]90ITR73(All)

..... . he would continue to be a partner unless he retires or is adjudicated an insolvent or dies or is expelled in accordance with the provisions of section 33 of the indian partnership act. similarly a person may be a partner in a firm and may yet be appointed as an authorised controller by the central government under section 3 read with section 4 ..... to and received by them in the capacity of partners of the assessee firm.21. for the purposes of income-tax act as well, the words 'firm', 'partner' and 'partnership' have the same meanings respectively as in the indian partnership act of 1932. partnership is the relation between persons who 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' and the name ..... business and the share of the partner is the business income in his hands for the purpose of section 10 (1) of the indian income-tax act, 1922. a partner, however in a partnership cannot be an employee of that partnership and any salary received by a partner from the firm is but a part of his share of profits. hence even if the .....

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Jul 17 1973 (HC)

Banwari Lal and ors. Vs. the Pilibhit Co-operative Development Federat ...

Court : Allahabad

Decided on : Jul-17-1973

Reported in : AIR1974All269

..... was not, in our opinion, substituted wholly by the deed of dissolution subsequently executed and the one was to supplement the other.4. section 46 of the indian partnership act provides:'on the dissolution of a firm every partner or his representative is entitled as against all the other partners or their representatives to have the property of the ..... dissolution, the earstwhile partners continue to remain entitled to certain rights with regard to the liquidation of the debts and liabilities of the erstwhile partnership and to the distribution of the surplus. section 47 of the indian partnership act also leads to the same conclusion. this was a case where a dispute had been raised by respondent no. 1 that the appellant had ..... embezzled considerable funds belonging to the partnership while the partnership was still existing. the dispute related to proceedings for liquidation of the assets, debts and liabilities ..... civil judge committed no error of law apparent on the face of the record in dismissing the application under section 33 of the indian arbitration act.5. learned counsel invited our attention to clause 12 of the partnership agreement which runs as follows:'any dispute touching the business of patroleum distribution between the federation and the appellant shall be referred to .....

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Oct 20 1973 (HC)

Additional Commissioner of Income-tax, Kanpur Vs. Uttam Kumar Promod K ...

Court : Allahabad

Decided on : Oct-20-1973

Reported in : [1974]97ITR730(All)

..... thus not parties to this document. in our opinion, the minors cannot be admitted to the benefits of partnership unless they are parties to the agreement through their guardians. section 30(1) of the indian partnership act says that a minor may not be a partner in a firm, but, with the consent of all the ..... partners for the time being, he may be admitted to the benefits of partnership. sub-section (5) of the section provides that a minor ..... losses.'the supreme court further observed :'it follows from the above discussion that as long as a partnership deed does not make a minor full partner, a partnership deed cannot be regarded as invalid on the ground that ..... full partners or does it only confer benefits of partnership on them ?(2) is any clause of the deed void ?'the observation of the supreme court is in the following terms :'first it is clear from sub-section (2) of section 30 of the partnership act that a minor cannot be made liable for ..... partners. in our opinion, any agreement in which the minors are not parties cannot be validly made to admit the minors to the benefits of partnership under section 30 of the act. the same view was taken by this court in hardutt ray gajadhar ram v. commissioner of income-tax [[1950] 18 i.t.r. .....

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Dec 05 1973 (HC)

Smt. Dropadi Devi Vs. Ram Das and ors.

Court : Allahabad

Decided on : Dec-05-1973

Reported in : AIR1974All473

..... any such extension of theka of the defendant-appellant. the plea taken by the defendant that the suit was barred by section 69(2) of the indian partnership act on account of the partnership not being registered was also repelled on the ground that at the time the raja had contracted with ram das there was no ..... with effect from 1-10-1958.8. the last point that was argued by the learned counsel was that the suit was barred by section 69(2) of the partnership act. this plea is based on an allegation made by the plaintiff in para. 6 of the plaint to the effect that the plaintiff no. 1 (ram das) ..... of plaintiff no. 1 alone. so far as ram das is concerned there can be no application of section 69(2) of the partnership act to him on the date of contract when no partnership existed and he alone entered into that contract with the raja.10. we are therefore of the opinion that the decree passed by the ..... to a decision of the madras high court in goverdhandoss v. abdul rahiman (air 1942 mad 634). in this case the following observation made by lindley on partnership at page 350 (edition 10) was approved and followed:'one partner may sue alone on a written contract made with himself if it does not appear from the ..... to collect market dues upon a given piece of land is a benefit to arise out of land within the purview of section 3 of the indian registration act. a lease, therefore, of such right for a period of more than the year must be made by registered instrument. in. section 3 of the registration .....

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Mar 24 1973 (HC)

income-tax Officer Vs. Raza Textiles Ltd.

Court : Allahabad

Decided on : Mar-24-1973

Reported in : [1977]106ITR408(All)

..... partner of m/s, nathir mal and sons is concerned. it is the partner of m/s. nathir mal and sons who is acting in the assumed name. under section 18 of the indian partnership act a partner is the agent of the firm for the purpose of the business of the firm. section 19 lays down that subject ..... to the provisions of section 22 the act of a partner which is done to carry on in the usual way business of the kind ..... textiles ltd., jwalanagar, rampur, was directed by the income-tax officer, rampur, under section 18(3b) road with section 18(7) of the indian income-tax act, 1922 (hereinafter referred to as 'the act'), to pay rs. 1,39,739-5-0 as tax on a sum of rs. 2,00,000 which was remitted by the respondents as ..... and sons, as its partner. he had his office in india and was in a position to settle the terms of the contract with the respondent. he was acting on his own and there is nothing to indicate that he was seeking instructions from the firm at indonesia before taking initiative in the matter. annexure 'c' further ..... legal effect of the facts proved in the case. the status of the appellant which has to be determined by reference to the relevant section of the act is a mixed question of fact and law and in determining this question the principles of law deducible from the provisions of the said section will have to .....

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Nov 28 1973 (HC)

Juggilal Kamlapat, Bankers Vs. Commissioner of Income-tax

Court : Allahabad

Decided on : Nov-28-1973

Reported in : [1975]101ITR40(All)

..... of rs. 8,000 was liable to be added to its income as accrued rent or under section 10(2a) of the indian income-tax act, 1922 ?'2. the assessee is a partnership firm and at the material time carried on the business of banking and derived income from interest on securities and property, etc. it ..... had been showing its income from lease rent on accrual basis and had been assessed as such'. later, the assessee applied under section 35 of the act for rectification of the tribunal's order on the ground that the above-quoted observation of the tribunal was factually incorrect inasmuch as the assessee had never ..... by it. if an assessee chooses to adopt the cash system of accounting in respect of the income assessable under section 10 or section 12 of the act, he cannot be assessed on accrual basis. the option is with the assessee and not with the department so that the department cannot compel an assessee ..... assessment year in question.5. as regards the second limb of the question as to whether this amount can be assessed under section 10(2a) of the act, it is difficult to understand as to how that provision applies. section 10(2a) makes a provision for assessment of any loss, expenditure or deductions allowed ..... there is no question of the sum of rs. 8,000 which is the subject-matter of this reference being taxed under section 10(2a) of the act.6. we, accordingly, answer the question in the negative, in favour of the assessee and against the department. the assessee is entitled to the costs which .....

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Jul 17 1973 (HC)

Moti Lal and Sons Vs. Commissioner of Income-tax

Court : Allahabad

Decided on : Jul-17-1973

Reported in : [1975]101ITR177(All)

..... the business was formerly being carried on by a joint hindu family, but subsequently a partition took place and the business was converted into a partnership. the partnership firm consisted of motilal and his four sons, who are still partners in the firm, along with their mother after motilal's death. certain ..... circumstances of the case, the tribunal was justified in holding that the sum of rs. 7,029 was assessable under section 10(2a) of the indian income-tax act, 1922 ?'2. the assessment year involved in the present case is 1956-57 and the corresponding account year is from november 1, 1954, to ..... -tax officer, sought to include this amount under the provisions of section 41(1) of the income-tax act, 1961, which is in pari materia to section 10(2a) of the indian income-tax act, 1922. it was held by the supreme court that the successor in business or a legal representative of ..... the period january 26, 1950, to march 31, 1951. messrs. mohanlal hargovindas had subsequently filed an appeal against their assessment made under the sales tax act and this appeal was allowed, and an amount of rs. 24,341 was remitted. consequently, messrs. mohanlal hargovindas refunded that amount to the assessee by ..... the earlier years, on the ground that it was an amount received back by the partners and was taxable under section 10(2a) of the act. the assessee appealed before the appellate assistant commissioner but the appeal failed. thereafter, the assessee took out an appeal to the tribunal. the tribunal .....

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May 08 1973 (HC)

Commissioner of Income-tax Vs. Vikram Cotton Mills Ltd.

Court : Allahabad

Decided on : May-08-1973

Reported in : [1977]106ITR829(All)

..... claimed that unabsorbed losses of the preceding year be brought forward and adjusted against the share of lease money. it was found that the partnership to which the sugar mills belonged had stopped carrying on business since 1944. since then the sugar mills was in the custody of a ..... mortgage of the fixed assets of the company taken actual physical possession of the immovable properties hypothecated to them. under section 153 of the indian companies act, 1913, the high court with the approval of the assessee-company and the creditors evolved a scheme whereunder the business assets of the ..... not continued to be carried on in the assessment years in question within the meaning of clause (2) of section 24 of the indian income-tax act, 1922. that being the position, the income from the lease was taxable under section 10 under the head 'profits and gains of ..... realised by the assessee-company for the assessment years 1957-58 to 1959-60 was assessed by the department under section 10 of the indian income-tax act, 1922, under the head 'profits and gains of business'. but in subsequent assessment years the income-tax officer held that the income ..... business.'15. for the revenue reliance was placed upon seth banarsi das gupta v. commissioner of income-tax : [1977]106itr559(all) . in that case seth banarsi das gupta along with his five brothers formed a partnership .....

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Oct 18 1973 (HC)

Commissioner of Income-tax Vs. H.C. Gupta

Court : Allahabad

Decided on : Oct-18-1973

Reported in : [1975]100ITR244(All)

..... arisen in the following circumstances: 3. the assessee, h. c. gupta, was a partner in kailash motors, having 35% share therein. in the accounts of the partnership firm a credit balance of rs. 26,250 stood in favour of the assessee on july 31, 1959. on that date, h. c. gupta transferred his share ..... resulted in a capital gain to h. c. gupta to the extent of rs. 13,750. he, accordingly, taxed him under section 12b of the indian income-tax act, 1922. the assessee went up in appeal. the appellate assistant commissioner allowed the appeal holding that the transaction had caused not a capital gain to the ..... view. any order passed under the gift-tax act in the case of one assessee will not be binding on the income-tax officer while taking assessment proceedings against another' assessee even though the transaction giving ..... to tax by the income-tax officer under section 12b of the income-tax act in assessment proceedings against the assessee, h. c. gupta. in our opinion, the tribunal has committed a clear error of law in taking such a ..... have applied the principle of res judicata in non-suiting the department and held that the decision of the gift-tax officer under the gift-tax act was final and binding on the income-tax authorities in respect of the interpretation or effect of the transaction of exchange which had been brought .....

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Aug 24 1973 (HC)

Vaish College (Society) Shamli and ors. Vs. Sri Lakshmi NaraIn and ors ...

Court : Allahabad

Decided on : Aug-24-1973

Reported in : AIR1974All1b

..... then that it is generally not temporary nor terminable at will. in this respect, status is unlike contract. a contract of service or of partnership may be limited in time and terminable at the will of one or more of the parties thereto, but the status of marriage is contemplated ..... be reinstated. this is a special provision under industrial law. this relief is a departure from the reliefs available under the indian contract act and the specific relief act which do not provide for reinstatement of a servant.'the third category of cases of master and servant arises in regard to ..... dismissal.115. in the case of : (1971)illj496sc it was found that under sections 8(2) and 20 of the air corporation act of 1953, the indian airlines corporation was given the power to employ its own officers and other employees to the extent it thought necessary on terms and conditions ..... good law. in this connection a reference was made to executive committee of u. p. state warehousing corporation lucknow v. chandra kiran tyagi : (1970)illj32sc ; indian airlines corporation v. sukhdeo rai : (1971)illj496sc ; bank of baroda ltd. v. jewan lal mehrotra, (1970) 2 lab lj 54 & vidya ram misra v ..... srivastava, before him on behalf of the appellants reliance was placed on executive committee of state warehousing corporation v. chandra kiran tyagi : (1970)illj32sc and indian airlines corporation v. sukhdeo rai : (1971)illj496sc in support of the contention that the division bench decision of this court in 1969 ah lj 621 .....

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