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Judgment Search Results Home > Cases Phrase: indian partnership act Court: andhra pradesh Year: 1970 Page 1 of about 11 results (0.139 seconds)

Jan 19 1970 (HC)

Union of India (Uoi) and anr. Vs. Salankayala Pulleswara Rao

Court : Andhra Pradesh

Decided on : Jan-19-1970

Reported in : [1972]85ITR109(AP)

..... the facts of the present case. this is a case distinguishable on facts as the state is now seeking a priority over a decree for the distribution of the partnership assets. the indian partnership act has a specified scheme of distribution of assets on dissolution. the relevant sections are sections 46, 48 and 49 which may be extracted for easy reference :section 46 : 'on ..... and sub-section (2) of section 232.'12. obviously, the decision puts the matter in issue beyond all reasonable doubt that the provisions of the partnership act under which the decrees have been passed relating to the partnership assets have to be looked to and would form a complete code for working out priorities, if any.13. in this context i have also ..... disturbed by reading into it a priority which is not expressly provided thereunder. it is manifest that there is nothing in the partnership act which provides for a priority of debts due under the income-tax act and the sales tax act. i am fortified in my view by the statement of the law by the federal court in governor-general in council v ..... federal court said at page 19 of the judgment :'we have no hesitation in coming to a conclusion and holding that the crown is bound by the provisions of the indian companies act, 1913, and is bound, in regard to the provisions relating to the liquidation of companies, 'to a statutory scheme of administration wherein the prerogative right of the crown to .....

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Jan 20 1970 (HC)

Challa Appalaswamy Vs. Commissioner of Income-tax

Court : Andhra Pradesh

Decided on : Jan-20-1970

Reported in : [1971]82ITR731(AP)

..... the department requires the assessee to do. in interpreting the relevant clauses in the instrument of partnership, care has to be taken to find out whether such clauses contravene the provisions of section 30 of the indian partnership act, the relevant portion of which reads as under :'30. (1) a person who ..... evident that the profits can be divided between the partners as per the terms agreed upon by them under section 30(2) of the partnership act. the aluminium business and thecrucibles business have been treated as separate units by the assessee-firm-separate accounts have been maintained for each of ..... his conclusion on relevant evidence.'8. the assessee-firm has been constituted under an instrument of partnership, specifying the individual shares of the partners within the meaning of section 26a(1) of the indian income-tax act, 1922. it has, under rule 2 of the income-tax rules, applied to the income ..... accordance with the respective shares of the partners he couldin the exercise of powers vested in him impose a penalty under section 28 of the indian income-tax act, 1922, but could not in any case refuse or cancel registration.6. as against the above arguments, the learned counsel, sri ramarao, ..... of the indian income-tax act, 1922, for the assessment year 1960-61 and 1961-62 and under section 256(1) of the income-tax act, 1961, for the assessment year 1962-63.3. the question, for its answer, depends upon the interpretation of the relevant clauses of the instrument of partnership. they .....

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Feb 19 1970 (HC)

Commissioner of Income-tax, A. P. Vs. Mandyala Govindu and Co.

Court : Andhra Pradesh

Decided on : Feb-19-1970

Reported in : [1971]82ITR926(AP)

..... losses, the partners must be held to be liable to contribute equally to the losses sustained by the firm as provided under section 13(b) of the indian partnership act. no doubt, section 13(b) of the indian partnership act lays down that, subject to contract between the partners, the partners are entitled to share equally in the profits earned, and shall contribute equally to the ..... , is made liable for the losses also in the proportion mentioned in clause 2 or equally with the other partners. that being so, the partnership cannot be said to be void. under section 30 of the indian partnership act, though a person who is a minor according to law to which he is subject may not be a partner in a firm, he may ..... partnership is a condition precedent for entitling the firm to registration. resorting to the application of section 13(b) of the ..... section 26a requires specification of shares in the instrument of partnership, any determination of the share of the partners in the profits or in the losses not with reference to the particular instrument but by resort to section 13 of the indian partnership act would be to supply the omission in the instrument of partnership. specification of shares of the partners in the instrument of .....

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Mar 09 1970 (HC)

N. Ranganayakulu Vs. J. Narasimharao and Company and ors.

Court : Andhra Pradesh

Decided on : Mar-09-1970

Reported in : AIR1971AP58

..... the decision is impliedly an authority for the view the partners are personally liable for the satisfaction of firm's debts. section 49 of the indian partnership act categorically provides for recourse against the personal assets of partners for the satisfaction of firm's debts. when the personal liability is made out, ..... in prison for the satisfaction of the debts of the firm. counsel was not able to draw my attention to any provision of the indian partnership act which lends support to his thesis that there is an inhibition on the creditor's rights to seek such remedies as the civil procedure code allows for ..... the relation of the decretal debt from the partners. section 25 of the indian partnership act makes it plain that every partner is liable jointly with all the other partners and also severally for all acts of the firm done while he is partner. thus, the statute renders the partners liable ..... there is, however, no enunciation of a principle by the author, which precludes the mode of execution by arrest for the recovery of a partnership debt from an individual partner. the passage relied on by the learned counsel does not support his proposition. at page 278 the learned author dealt ..... (hereinafter referred to as the debtor) and that a partner cannot be subjected to the coercive process of arrest for the recovery of a partnership debit in respect of which such personal liability has not been expressly undertaken by the partner concerned. it is further urged by him that the .....

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Mar 24 1970 (HC)

M.J. Velu Mudaliar and anr. Vs. Sri Venkateswara Finance Corporation a ...

Court : Andhra Pradesh

Decided on : Mar-24-1970

Reported in : AIR1971AP63

..... is preferred by the defendants. 4. the first contention urged by the learned counsel for the appellants is based on section 69(2) of the indian partnership act. it was pleaded by the defendants that the registration of the firm does not show that the plaintiffs 1 to 3 are partners and it is ..... on demand and hence the suit was filed. 2. the defendants challenged the maintain ability of the suit on the ground that the partnership was not registered under the indian partnership ac, and that the names of the partners who are suing were not entered as such in the certificate of registration. they dent ..... or certified by any of the partners suing in the name of the firm. the expression suing as partners occurring in section 69(2) of the partnership act, must be read and understood in the light of the provisions of order 30. it is not unreasonable to infer that the requirement contemplated by the ..... merchants, through n.r. nagpal, partner and manager, nagnal verified the plaint under his signature and he described himself as the manager and partner. the partnership was register, but the name of nagpal was shown in the register of firms as a partner of the firm it was held by a division bench ..... as partners. the dismissal of the suit was upheld on the ground that the heirs of the deceased partner having become partners by reason of the partnership agreement the omission of addition of their names in the registrar of firms brought the case within the mischief of sub-section (2) of section 69 .....

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Dec 29 1970 (HC)

M. Sulochanamma and ors. Vs. Commissioner of Wealth-tax

Court : Andhra Pradesh

Decided on : Dec-29-1970

Reported in : [1972]85ITR201(AP)

..... reliance also was placed on the use of the article 'the' beforethe word 'individual' instead of 'such' employed in section 16(3)(a) of the indian income-tax act, 1922. while dealing with the submission of the assessee relating to the use of the words 'as belonging to him', it was observed by the learned ..... the view of the supreme court in sodra devi's case was that thewords 'any individual' and 'such individual' in section 16(3) of the indian income-tax act, 1922, are restricted in their meaning so as to take in only the male of the species and do not include the female of the species. ..... (ii) from the admission of the minor to the benefits of partnership in a firm of which such individual is a partner.' 25. a close reading of section 4(1)(a) of the wealth-tax act and section 16(3)(a) of the indian income-tax act, 1922, manifests that the provisions of both the sections, in so ..... being a married daughter to whom such assets have been transferred by the individual otherwise than for adequate consideration.' 24. section 16(3)(a) of the indian income-tax act, 1922: 'in computing the total income of any individual for the purpose of assessment, there shall be included- (a) so much of the income ..... lease was not available to the assessees on the respective valuation dates. 19. it is well-settled that the income charged to tax under the indian income-tax act is that of the previous year. the law that is applicable is that in force in the year of assessment unless otherwise stated or implied. .....

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Jul 03 1970 (HC)

Kanneganti Venkata Subbayya (Died) and ors. Vs. P. Ranga Rao Tobacco C ...

Court : Andhra Pradesh

Decided on : Jul-03-1970

Reported in : AIR1972AP72

..... and the argument before me also has not covered that ground it is pertinent to refer to the provisions of section 76 of the negotiable instruments act. that section embodies the exceptions where presentment is unnecessary. it may be noted that presentment is not insisted upon among other cases in circumstances ..... the observations made by the learned judge were with reference to a hundi and were based upon the provisions of section 91 of the negotiable instruments act. there is a clear distinction between the two section 91 and 92. the former is applicable only to bills of exchange, where as the ..... consequently, there was no dishonour so as to attract the liability of the indorser in accordance with the provisions of section 35 of negotiable instruments act.7. the argument outlined above rests upon the basic premise that in order to make the indorser liable on the ground of dishonour of the ..... the promissory note by the holder to the maker of the promissory note. learned counsel for the respondent relied upon section 92 of the negotiable instruments act, which reads as follows:---'a promissory note, bill of exchange or cheque is said to be dishonoured by non-payment when the maker of the ..... . the defendants 2 and 3 were carrying on business in partnership in the name and style of 'sri ranga rao tabacco co.' the partnership firm is cited as the 1st defendant. the 2nd defendant incurred a liability on behalf of the partnership firm and executed a promissory note for the price payable by .....

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Dec 08 1970 (HC)

Commissioner of Income-tax Vs. Smt. Allareddy Sudarsanamma and ors.

Court : Andhra Pradesh

Decided on : Dec-08-1970

Reported in : [1972]83ITR759(AP)

..... reddy. in doughty v. commissioner of taxes, [1927] a.c. 327 (p.c.) two partners sold the entire assets including the goodwill of their partnership business to a limited company in which they were the only shareholders. though the nominal value of the shares was more than the sum credited to the ..... law to sell his property to a partnership consisting of himself and another and such a transaction would have all the incidence of a legal and binding transaction of sale ana the profits ..... his transaction with the firm consisting of himself and datar, it was contended that there could be no transaction between him, the partner, and the partnership which really earned profits liable to tax. the bombay high court repelled the contention of the assessee holding that it was competent to a person in ..... reimbursement of the taxpayer in the case of such a charge as that to which the revenues of the appellant are subject.... that the omission from the indian act of any such provision points rather to an intention to tax, in lord davey's phrase, only ' the real income ' of the taxpayer, than ..... the firm. the partners individually withdrew substantial amounts from the firm for the purpose of meeting their personal expenses. the terms of the deed of partnership did not provide for payment of any interest on the capital investments of the partners, but they had to pay interest to the firm in respect .....

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Oct 23 1970 (HC)

Commissioner of Income-tax Vs. Tatavarthy Narayanamurthy (Decd.) and o ...

Court : Andhra Pradesh

Decided on : Oct-23-1970

Reported in : [1972]83ITR58(AP)

..... who could be given a reasonable opportunity contemplated by this sub-section. nor could there be any partners in a hindu undivided family. unlike in a partnership firm, there are no partners in a hindu undivided family. consequently, it is impossible to satisfy the provisions of sub-section (3) giving an ..... with assessment of an assessee, section 25 provides for the assessment in cases of discontinued business. likewise, section 25a which was inserted by the indian income-tax (amendment) act, 1928, is concerned with the assessment after partition of a hindu undivided family. its effect is that a hindu undivided family, which was ..... 31 i.t.r 867 (a.p.) in which it was held that an order imposing penalty under section 28(1)(c) of the indian income-tax act upon a hindu joint family after it had disrupted, and the disruption was accepted under section 25a(1) is invalid, because there is a ..... the learned judges stated that:' section 44 of the income-tax act makes applicable all the provisions of chapter iv of the act (one of the sections of which is section 28) to an assessment in the case of a partnership which has discontinued its business, and in such an assessment the ..... preferred from the order of the appellate assistant commissioner.2. before completing the assessment, proceedings under section 28(1)(c) of the income-tax act were started against the assessee and as the income-tax officer found that the assessee had deliberately suppressed true particulars of the income, he levied .....

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Jun 11 1970 (HC)

E.A. Sriramayya and anr. Vs. D. Aswarthanrayana Gupta and ors.

Court : Andhra Pradesh

Decided on : Jun-11-1970

Reported in : AIR1971AP276a

..... 1962, sometimes in the name of the son i.e., the plaintiff in and sometimes in the name of a partnership, known as sri rama oil mills, of which the father and son were partners.the defendants claim that they are agriculturists and that they are entitled ..... ' if he- (a) has in both the financial years ending 31st march, 1938 been assessed to income-tax under the indian income-tax act, 1922 or under the income-tax laws of indian state. (b) has in all the four half years immediately preceding the 1st october, 1937 been assessed to profession-tax on ..... that defendants have salable interest in agricultural land and that they are agriculturists within the meaning of section 3 (ii) (a) of the agriculturists reliefs act. it is however contended on behalf of the plaintiffs that the defendants are not entitled to the benefit of section 13 as they are excluded from ..... and the only question raised before me is whether the defendants are entitled to the benefits of the agriculturists relief act and whether the debts are liable to be reopened and traced back to 1954. the learned subordinate judge held that the defendants were entitled to ..... to the benefits of the agriculturists relief act. they claim, that the debt should be reopened and traced back to the original debt of 1942. the principal question raised before the lower court .....

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