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Judgment Search Results Home > Cases Phrase: indian partnership act Court: gujarat Year: 1970 Page 1 of about 6 results (0.014 seconds)

Oct 05 1970 (HC)

Velo Industries Vs. Collector, Bhavnagar

Court : Gujarat

Decided on : Oct-05-1970

Reported in : [1971]80ITR291(Guj)

..... in payment of the debts and liabilities of the firm, and to have the surplus distributed among the partners or their representatives according to their rights. section 48 of the partnership act provides for the mode of settlement of accounts between the partners. the distribution of surplus is for the purpose of adjustment of the rights of the partners in the assets ..... second proviso to section 10(2)(vii). shah j., speaking on behalf of the supreme court, stated the law on the subject in these terms : 'under section 46 of the partnership act, 1932, on the dissolution of the firm every partner or his representative is entitled, as against all the other partners or their representatives, to have the property of the firm ..... passes to his trustee.' 5. the supreme court had also occasion to consider this question in narayanappa v. bhaskara krishnappa, and there, after referring to the relevant provisions of the partnership act, the supreme court proceeded to state the effect of these sections in the following words : 'from a perusal of these provisions, it would be abundantly clear that whatever may be ..... the assets at the original value amounted to total recoupment of the entire depreciation by the partnership and on that account the second proviso to section 10 (2) (vii) of the indian income-tax act, 1922, was attracted, the supreme court held that on the dissolution of the partnership, each theatre had to be deemed to be returned to the original owner in satisfaction .....

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Jun 25 1970 (HC)

ishverlal and Bros. Vs. N.N. Seth, Income-tax Officer, Surat

Court : Gujarat

Decided on : Jun-25-1970

Reported in : [1972]85ITR414(Guj)

..... the affidavit-in-reply does not put reliance on the non-disclosure of these three facts. clause (a) of section 147 of the indian income-tax act speaks about the belief of the income-tax officer who seeks to reopen the assessment. it is not the case of the income-tax officer ..... commissioner, an appeal was preferred to the tribunal but even the tribunal rejected the prayer of the bangalore firm to obtain the registration under the indian income-tax act. while rejecting this prayer, the tribunal observed that the bangalore firm was not an independent firm and that it has continued as a branch ..... income earned by the petitioner-firm. 5. facts of the case further show that the above referred bangalore firm applied for its registration under the indian income-tax act on june 7, 1958. this application was rejected by the income-tax officer mainly on two grounds, namely, (i) that the capital of ..... 1961-62. 2. short facts of the case are that the petitioner is a partnership firm consisting of four partners, who are inter-related ..... mehta, j.1. the petitioner, m/s. ishverlal & brothers, a partnership firm, has filed this application for obtaining a writ to quash and set aside the notices served upon it under section 148 of the indian income-tax act, 1922, for the reassessment of its income for the assessment years 1959-60, 1960-61 and .....

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Oct 05 1970 (HC)

Vrajlal Makandas Valiya Vs. L.D. Joshi, Collector

Court : Gujarat

Decided on : Oct-05-1970

Reported in : (1971)12GLR586

..... in payment of the debts and liabilities of the firm and to have the surplus distributed among the partners or their representatives according to their rights. section 48 of the partnership act provides for the mode of settlement of accounts between the partners. it prescribes the sequence if which the various outgoings are to be applied and the residue remaining is to ..... second proviso to section 10(2)(vii). shah j. speaking on behalf of the supreme court stated the law on the subject in these terms:under section 46 of the partnership act, 1932, on the dissolution of the firm every partner or his representative is entitled, as against all the other partners or their, representatives, to have the property of the firm ..... to his trustee.the supreme court had also occasion to consider this question in narayanappa v. bhaskara krishnappa : [1966]3scr400 and there, after referring to the relevant provisions of the partnership act, the supreme court proceeded to state the effect of these sections in the following words:from a perusal of these provisions it would be abundantly clear that whatever may be ..... the assets at the original value amounted to total recoupment of the entire depreciation by the partnership and on that account the second proviso to section 10(2)(vii) of the indian income-tax act. 1922, was attracted. the supreme court held that on the dissolution of the partnership; each theatre had to be deemed to fee returned to the original owner in satisfaction .....

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Sep 30 1970 (HC)

D.S. Patel and Co. Vs. Gujarat State Textile Corporation Ltd. and ors.

Court : Gujarat

Decided on : Sep-30-1970

Reported in : [1971]41CompCas1098(Guj); (1972)0GLR33

..... spl. c.a. 589/69 is concerned, the facts are that the petitioner is a partnership firm and the third respondent, the new manekchowk spinning and weaving co. ltd., is a company registered under the indian companies act, 1913. the said company owns a factory, namely, a textile mill, which has ..... privy council have rejected this contention by making the following observations : 'no doubt experience of past difficulties has made the provisions of the indian act more exact in some particulars, and the existence of the concurrent list has made it easier to distinguish between those matters which are essential ..... third respondent ultimately closed down. 4. so far as spl. c.a. no. 638/69 is concerned, there also the petitioners is a partnerships firm. its claim is that it has been supplying cotton bales to the above referred new manekchowk spinning and weaving co. ltd. and in respect ..... it a special treatment for the protection of public interest which is therein involved. this principle is found recognised in various acts including revenue recovery acts, rent acts and various other socio-economy enactments. the principles is so well established that it is not found necessary to refer to ..... of equal protection contemplates by article 14 of the constitution. (3) further, according to the petitioners, these two impugned sections of the state act also infringe the fundamental rights to hold property contemplated by article 19(1)(f) of the constitution; and (4) if was alternatively contended on .....

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Nov 04 1970 (HC)

Prajapati Chaku Virji and ors. Vs. Patel Amba Ganpatram and ors.

Court : Gujarat

Decided on : Nov-04-1970

Reported in : (1971)12GLR650

..... civil revision application are as follows:the plaintiff filed in the court of the civil judge (junior division) at morvi regular civil suit no. 56 of 1963 for dissolution of partnership and accounts. in that suit the trial court passed the decree but directed that the decree shall be drawn up only after the necessary amount of court-fees was paid ..... section 12 gives statutory recognition to the construction placed by the high court of bombay in the aforesaid full bench case upon sub-section (2) of section 12 of the indian limitation act, 1908.7. our attention has been invited to the decision of the supreme court in jagat dhish bhargava v. jawaharlal lal bhargava and ors. : [1961]2scr918 . this decision of ..... that the supreme court did not resolve the cleavage of opinion between the different high courts in the matter of construction of sub-section (2) of section 12 of the indian limitation act, 1908. if the supreme court had not approved the view taken by the full bench of the bombay high court in jayashankar's case (supra), different considerations would have ..... to the fault or negligence of the appellant. if any of the time can be so attributed, then that time cannot be excluded under section 12(2) of the indian limitation act, 1908. having thus observed the full bench laid down that the time properly taken for the preparation of the decree and the time which elapses between the pronouncement of the .....

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Jul 08 1970 (HC)

Patel Ramibhai Danabhai and ors. Vs. A.S. Tambe, Sales Tax Officer

Court : Gujarat

Decided on : Jul-08-1970

Reported in : (1971)12GLR451

..... same was dismissed by the said tribunal on 28-4-1969.9. as for special c.a. 8/70, the facts are that the petitioner is a partnership firm and claims to be carrying on its business at bombay. its business consists of taking catering contracts from the railway administration the petitioner, therefore, is running ..... there was plenty of scope for pick and choose for the purpose of taking action under one or the other section. while section 34 of the indian income tax act of 1922 provided many limitations upon the authority concerned including the limitation as regards the period during which the action can be taken, no such limitations ..... .3. taking first special c.a. 191/68, the facts are that petitioners nos. 1, 4, and 6 previously formed partnership under the name of m/s. laxmi vijay saw mill and that partnership was run from 2-11-55 to 31-10-1959. after 31-10-59 i.e. from 1-11-59, petitioners nos ..... . 1 to 7 together with one patel muljibhai premjibhai, formed another partnership and a deed thereof was drawn between the partners on 1-2-1960. this partnership was dissovled on 10-11-1964. thereafter on 16-11-1964, the sales tax officer, anand was informed about this ..... -12-1959.5. in reply to these notices, the petitioners raised a contention that the old partnership firm which was formed in the year 1955 between petitioners nos. 1, 4 and 6 as well as the new partnership firm which was formed on 1-11-1959 between the petitioners nos. 1 to 7 and above .....

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