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Judgment Search Results Home > Cases Phrase: indian partnership act Court: allahabad Year: 1991 Page 1 of about 12 results (0.016 seconds)

Nov 29 1991 (TRI)

income-tax Officer Vs. B.D. Traders

Court : Income Tax Appellate Tribunal ITAT Allahabad

Decided on : Nov-29-1991

Reported in : (1992)43ITD45(All.)

..... deny registration and that such erroneous action was correctly rectified by the 1d. dc (a). our attention was also invited to section 4 of the indian partnership act for the purpose that the conditions picked up by the 1d. ito for refusing registration were not there in the provision.according to him any interference ..... following conditions are to be satisfied in order that a firm may be entitled to registration: (i) the firm should be constituted under an instrument of partnership specifying the individual shares of the partners; (ii) an application on behalf of and signed by all partners and containing all the particulars as set out ..... ito had not found that any partner was benamidar of other. it was explained that in the assessee's case, there was a duly executed partnership deed, profit and losses were being shared and the business was being carried on on behalf of the partners. it was pointed out that since these ..... was framed on 28-3-1988, on total income of rs. 50,630 under section 143(3) of the income-tax act, 1961.4. in the present case, a deed of partnership was drawn on 15-3-1984, between raj kumar agarwal as karta of his huf, smt. rita kumari and km.smita arora ..... the terms and conditions of the instrument of partnership in the accounting year. once such conditions are satisfied, it is the obligation of the ito under the act to extend the benefit of registration and allow the firm to enjoy the benefits provided by the act.15. in the light of our preceding discussions .....

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Nov 29 1991 (HC)

income Tax Officer Vs. B. D. Traders, (Also B.D. Traders V. Ito).

Court : Allahabad

Decided on : Nov-29-1991

Reported in : (1993)45TTJ(All)87

..... and that such erroneous action was correctly rectified by the learned dy. commr. (a). our attention was also invited to s. 4 of the indian partnership act for the purpose that the conditions picked up by the learned ito for refusing registration were not there in the provision. according to him any interference ..... conditions are to be satisfied in order that a firm may be entitled to registration : (i) the firm should be constituted under an instrument of partnership specifying the individual shares of the partners; (ii) an application on behalf of and signed by all partners and containing all the particulars as set out ..... the learned ito had not found that any partner was benamidar of other. it was explained that in the assessees case, there was a duly executed partnership deed, profit & losses were being shared and the business was being carried on on behalf of the partners. it was pointed out that since these ..... 880. assessment was framed on 28th march, 1988, on total income of rs. 50,630 under s. 143(3) of the it act, 1961.4. in the present case, a deed of partnership was drawn on 15th march, 1984, between raj kumar agarwal as karta of his huf, smt. rita kumari and km. smita ..... the terms and conditions of the instrument of partnership in the accounting year. once such conditions are satisfied, it is the obligation of the ito under the act to extend the benefit of registration and allow the firm to enjoy the benefits provided by the act'.15. in the light of our preceding discussions .....

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Sep 26 1991 (HC)

Sri Jawahar Lal Gupta Vs. Income-tax Officer

Court : Allahabad

Decided on : Sep-26-1991

Reported in : [1993]199ITR726(All)

..... the minor from his admission to the benefits of partnership could not be included in the hands of the father under section 16(3)(a)(iv) of the indian income-tax act, 1922, because the connection between the asset transferred by the father of the minor son and ..... of reasons. firstly, the certificate, as is clear from annexure 2 to the writ petition, related to messrs. continental chemical co., which was a registered partnership firm, in respect of which the assessee has himself filed copies of assessment orders for the assessment years 1982-83 to 1984-85, as annexure 3 ..... v. prem bhai parekh : [1970]77itr27(sc) . in the said case a minor was admitted to the benefits of a partnership and the capital investment by him in the partnership came out of a gift made to him by his father without adequate consideration. the supreme court held that the income arising to ..... the income arising to the latter out of his admission to the benefits of partnership was remote and not proximate. according to the view of ..... the supreme court, the income must arise as a result of transfer and not only in some manner connected with it. the various clauses of section 64(1) of the act not only deal with direct transfer .....

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Mar 07 1991 (HC)

Tarun Bhai Vs. Commissioner of Income-tax.

Court : Allahabad

Decided on : Mar-07-1991

Reported in : (1992)100CTR(All)179; [1992]193ITR543(All)

..... to see how the above passage advances the case of the petitioner. indubitably, the plant and machinery which was transferred by the assessee to the partnership do constitute capital assets.for the above reasons, the question referred is answered in the affirmative, i.e., in favour of the revenue and against ..... a. j. vasanaik : [1979]116itr110(kar) , but also it took pains to point out that the transfer of assets of an individual to a partnership of which he is a partner stands on a different footing from a case where the assets are distributed amongst the erstwhile partners following the dissolution. be ..... took place or the money was utilised.'the question that arises for our consideration is where a person places his personal individual assets in a partnership of which he is a partner, whether it amounts to a transfer of those assets within the meaning of section 34(3)(b). this ..... machinery or plant installed after the 31st day of december, 1957, in any assessment year under section 33 or under the corresponding provisions of the indian income-tax act, 1922 (11 of 1922), and subsequently -(i) at any time before the expiry of eight years from the end of the previous year in ..... claimed development rebate during the said year which was granted to him. the said proprietary business was converted into a partnership business on and with effect from april 1, 1972. the partnership consisted of the petitioner and his two sons wherein the assessees share was 1/3rd. the income-tax officer held .....

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Sep 24 1991 (HC)

Sukhlal Ice and Cold Storage Company Vs. Income-tax Officer and anr.

Court : Allahabad

Decided on : Sep-24-1991

Reported in : [1993]199ITR129(All)

..... 29, 1990, was actually served on the assessee on march 30, 1990, on which date the proceedings under first notice under section 147 of the act were already declared as without jurisdiction and consequently no earlier proceedings will be subsisting on march 30, 1990. no other argument was advanced.4. in ..... order dated march 30, 1990, prevailed.2. meanwhile the income-tax officer issued on march 29, 1990, another notice under section 147 of the act for the said assessment year by setting out the necessary reasons and removing the defect pointed out earlier. it is this notice dated march 29, ..... a reference application before the income-tax appellate tribunal, which was rejected. it was followed by an application under section 256(2) of the act which too was ultimately rejected by the court on april 29, 1991. the net result was that the legal position as declared by the appellate ..... first appellate authority filed a second appeal before the income tax appellate tribunal contending that the very initiation of the proceedings under section 148 of the act was without jurisdiction. the tribunal, however, by its order dated march 30, 1990, allowed the appeal of the assessee and accepted the said ..... r.r. misra, j.1. the petitioner is a partnership firm. on january 28, 1985, it was served with a notice under section 148 of the income-tax act, 1961 (hereinafter referred to as 'the act' ), for the assessment year 1982-83. ultimately, an assessment order was passed by the assessing authority on july .....

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May 02 1991 (HC)

Brijendra Kumar Sharma Vs. Rajendra Kumar Sharma and Another

Court : Allahabad

Decided on : May-02-1991

Reported in : AIR1992All288

..... covered by this clause? to us it appears that the words 'between the partners' and 'by all partners' appearing in clause 18 of the partnership deed are rather significant. in a dispute in which an outsider and the other partner are concerned the arbitrator cannot thurst on the outsider merely ..... plaintiffs objection to the application are two fold. firstly, the dispute raised in the suit did not relate to the partnership at all and second the same were not covered by arbitration agreement.clause 18 of ..... from using, utilising usurping or misappropriating the property of the partnership in whole or in part.7. during the pendency of the suit and before defendant no. 1 had filed a written statement the application under s. 34 of the arbitration act was moved on the ground that the dispute raised in ..... the suit was fullycovered by arbitration clause and as such further proceedings in the suit may be stayed and the matter in dispute be referred to arbitration in accordance with clause 18 of the partnership deed.8. rights ..... of the defendant to move application despite putting in contest of the interim injunction application is not disputed. despite the fact that defendants had contested the application for temporary injunction, the plaintiff has not disputed their right to apply under s. 34 of the act. the .....

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Mar 27 1991 (HC)

K.M. Bansal (Deceased by Lrs.) Vs. Commissioner of Income-tax and anr.

Court : Allahabad

Decided on : Mar-27-1991

Reported in : (1992)103CTR(All)324; [1992]195ITR247(All)

..... filed returns and assessments were completed according to law. on august 10, 1988, a search was conducted at the business premises of the said three partnership firms under section 132 of the act. the residential premises of the partners, including the petitioner, were also searched and certain documents were seized. summary assessments were made under sub-section (5) of section 132 ..... the return or thereafter ?' for the sake of convenience, we shall state the facts in civil misc. writ no. 165 of 1991.2. the assessee was a partner in three partnership firms during the 'previous year' relevant to the assessment years 1983-84 to 1987-88. the petitioner states that he had no income other than the share income from the ..... cases cited before us.14. in k. s. rashid and sons v. ito : [1964]52itr355(sc) , the supreme court considered a similar provision occurring in the indian income-tax act, 1922. section 34 of the 1922 act provided for reopening of assessments where income had escaped assessment. sub-section (1a) of section 34 provided that, where the escaped income amounted to or was ..... prasad v. settlement commission (it and wt) : [1989]176itr169(sc) . a special appeal was preferred against the judgment and order of the settlement commissioner constituted under the income-tax act. the petitioner therein filed an application for settlement under section 245c. objections were filed by the commissioner to this application after perusing which the application for settlement was dismissed. the .....

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Aug 27 1991 (HC)

Savita Chhabra Vs. Ramji Chhabra

Court : Allahabad

Decided on : Aug-27-1991

Reported in : I(1992)DMC35

..... property of the minor in the partnership firm may be protected. that application was rejected by order dated 7.9.1990 passed by the district judge which is quoted below:'heard. ..... lord denning in seeford estate ltd. v. asherer (supra), just with a view to promote goal of the society, particularly the object of the indian constitution to provide social justice, it becomes imperative or negatively to prevent the frastration of the legislation, appellate power has to be assumed even though specifically ..... ita scribi possunt ut omnis casus qui quandoque. in sediriunt comprehendantur sed sufficit eaquae plae rumque accldunt contineri', which connotes that neither laws not acts of parliament can be so written as to include all actual or possible cases, it is sufficient if they provide for those things which frequently ..... respondent contending partner whose interest was conflicting to that of the' minor. during pendency of aforesaid application, another application under section 12 of the act, read with order 40 of the code, for an interlocutory order for the appointment of the receiver, was made so that the person and ..... learnt that even though she was mother and natural guardian but was not appointed as guardian, made an application under section 39 of the act on the grounds that she, being real mother of minor was natural guardian and she could look after the interest of minor better than .....

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Apr 02 1991 (HC)

Commissioner of Income-tax Vs. D.P. Kanodia

Court : Allahabad

Decided on : Apr-02-1991

Reported in : [1992]195ITR557(All)

..... , on the facts and in the circumstances of the case, the tribunal was justified in holding that the assessee had become a partner in the partnership firm evidenced by the partnership deed dated december 30, 1956, in their individual capacity and not representing their smaller-hufs ?'3. lala ganga prasad kanodia, brij mohan kanodia and ..... to the tribunal. the tribunal set aside the finding of the appellate assistant commissioner and held that the income derived by the assessee from the said partnership was his individual income. the correctness of this finding is not in question before us. the only question referred at the instance of the revenue to ..... made accordingly.6. during the course of audit, an objection was raised by the audit party to the effect that, according to the partnership deed, the business was being carried on by the brothers as individuals and, therefore, the income received by them should be treated as individual income and ..... the assessee filed his returns of income for the assessment years 1958-59 to 1970-71 declaring his share income from m/s. sadiram ganga prasad, a partnership, as belonging to his smaller hindu undivided family, i.e., the hindu undivided family comprising himself, his wife and children. this was accepted and assessments were ..... b.p. jeevan reddy, c.j. 1. under section 256(1) of the income-tax act, 1061, the tribunal has stated the following question at the instance of revenue :'whether, on the facts and in the circumstances of .....

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Dec 17 1991 (HC)

Mohan Lal Bhagwati Prasad Vs. Commissioner of Income-tax

Court : Allahabad

Decided on : Dec-17-1991

Reported in : [1993]200ITR88(All)

..... 1984]149itr1(delhi) is also merely a reiteration of the principle laid down in the case of indian oil corporation ltd. v. s. rajagopalan, ito : [1973]92itr241(bom) .10. for the reasons mentioned above, we answer the question referred for our ..... gulati then also relied on cit v. kamani engineering corporation ltd. : [1986]161itr473(bom) . this authority merely reiterates the principle laid down in the case of indian oil corporation ltd. v. s. rajagopalan, ito : [1973]92itr241(bom) which has already been discussed above. the circular of the board reported in : [ ..... transactions with the corporate body, and it is with the corporate body that a person must deal directly.'7. it is no doubt true, as held in indian oil corporation ltd. v. s. rajagopalan, ito : [1973]92itr241(bom) , that where the assessee owns several industrial undertakings, the assets and liabilities ..... to be capital of the distillery for computing relief under section 80j of the act. the income-tax officer, however, rejected the claim of the assessee and held that there was no capital whatsoever of the partnership and the entire business was being done with the help of loans and, ..... allowed the department's appeal and set aside the order of the appellate assistant commissioner.4. on a reference under section 256(1) of the act, the following question has been referred to this court :'whether, on the facts and in the circumstances of the case, the distillery was entitled .....

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